Alphatec (US:ATEC)2021-05-07 14:33Financial Performance - U.S product revenue increased by 50% year-over-year, reaching $43.7 million in Q1 2021 compared to $29.1 million in Q1 2020[58] - Total revenue grew by 47% year-over-year, amounting to $44.1 million in Q1 2021 versus $30.1 million in Q1 2020[59] - U.S gross profit increased by 50% year-over-year, reaching $34.1 million in Q1 2021 compared to $22.7 million in Q1 2020[62] - The company maintains a positive net cash position, with $191 million in cash and $60 million in debt[63] Growth Drivers - New product revenue contributed 17% in Q1 2021, compared to 56% in Q1 2020 and less than 10% in FY2018[8] - Revenue per surgeon increased by 17% year-over-year[8,39] - Average revenue per case grew by 13% year-over-year[8] - U.S revenue growth from strategic distribution was 60%[53] Future Outlook - The company anticipates U.S revenue of approximately $188 million, representing a 33% year-over-year increase for FY 2021[68] - Total revenue for FY 2021 is projected to be around $190 million, indicating a 31% year-over-year growth[69] - International revenue is expected to be approximately $2 million, a decrease of 47% year-over-year for FY 2021[69]