Business
ATEC Announces Preliminary 2019 Revenue Results and 2020 Revenue Outlook
Full-year 2019 U.S. revenue growth approximately 30%Fourth quarter year-over-year U.S. revenue growth approximately 35%Expected full-year 2020 U.S. revenue
About this update from Alphatec Holdings, Inc.
[{"type":"text","content":"Full-year 2019 U.S. revenue growth approximately 30%Fourth quarter year-over-year U.S. revenue growth approximately 35%Expected full-year 2020 U.S. revenue growth approximately 20% CARLSBAD, Calif., Jan. 13, 2020 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (“ATEC” or the “Company”) (Nasdaq: ATEC), a medical device company dedicated to revolutionizing the approach to spine surgery, announced today preliminary revenue results for the fourth quarter and full year ended December 31, 2019, and provided revenue guidance for the full year 2020.\n Preliminary, Unaudited 2019 Revenue Quarter Ended December 31, 2019Year Ended December 31, 2019Total Revenue$32.0 million to $32.4 million$113.1 million to $113.5 millionU.S. Revenue$30.9 million to $31.2 million$108.0 million to $108.3 million Preliminary, unaudited full-year 2019 U.S. revenue exceeds guidance and reflects revenue growth of 29% to 30%. Fourth quarter 2019 U.S. revenue reflects growth of 34% to 36% year-over-year and sequential growth of 10% to 11%. 2020 Revenue Guidance Year Ended December 31, 2020 Total Revenue$130 million to $134 million U.S. Revenue$128 million to $131 million Revenue guidance for 2020 reflects expected U.S. revenue growth of 19% to 21% compared to 2019, driven by 8 to10 anticipated new product launches and the continued traction of new products released in 2019, including the SafeOp Neural InformatiX SystemTM, which is designed to seamlessly integrate critical neural information into ATEC procedural solutions. “I am pleased with our performance in 2019,” said Pat Miles, Chairman and Chief Executive Officer. “We continue to experience increased demand that outpaces revenue reductions from our intentional transition of the legacy ATEC sales force to a strategic network. Our focus is on the future and the continued reflection of spine’s Organic Innovation Machine. I am confident that we have the people, vision and experience to continue taking market share in 2020 and well beyond.” The preliminary results announced today are unaudited and are therefore subject to change. The Company expects to announce its fourth quarter and full-year 2019 financial and operating results on March 5, 2020. About Alphatec Holdings, Inc. Alphatec Holdings, Inc. (ATEC), through its wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp Surgical, Inc., is a medical device com...