Alphatec (US:ATEC)2020-11-06 16:24Financial Performance - U S product revenue increased to $40 million in Q3 2020, a 43% year-over-year growth, and reached $98 million year-to-date, a 27% increase compared to $77 million in YTD 2019[64] - Total revenue reached $41 million in Q3 2020, a 41% year-over-year increase, and $101 million year-to-date, a 24% increase compared to $81 million in YTD 2019[64] - The company anticipates Q4 2020 U S revenue to be between $42 million and $44 million, and full-year 2020 U S revenue to be between $140 million and $142 million, representing approximately 25% growth[66] - The company's Q3 2020 GAAP U S gross profit was $29 million with a 73% margin, while non-GAAP gross profit was $31 million with a 78% margin[69] Growth Drivers and Strategies - The company outpaced the industry with revenue growth exceeding 40% in Q3 2020[4] - New product revenue contribution was greater than 70% in Q3 2020[30] - Year-over-year growth in cases with more than one product category sold was 50%[45] - U S revenue growth year-over-year among the top 20 distributors was 43%[60] Sales Channel and Distribution - 92% of sales were driven by the strategic channel in Q3 2020, compared to 89% in Q3 2019[60] - U S revenue growth from strategic distribution was 47%[60] - The company aims to drive revenue per agent toward $4 million or more[75]