Business
ATEC Announces Record Preliminary Revenue Results for 2023 and 2024 Revenue Guidance
Full-year 2023 total revenue grew approximately 37% to over $480 million Expected full-year 2024 total revenue of $595 million CARLSBAD, Calif.--(BUSINESS
About this update from Alphatec Holdings, Inc.
[{"type":"text","content":"\n\nFull-year 2023 total revenue grew approximately 37% to over $480 million\n\n\n\nExpected full-year 2024 total revenue of $595 million\n\n\n\n CARLSBAD, Calif.--(BUSINESS WIRE)--\nAlphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today preliminary revenue results for the fourth quarter and full-year ended December 31, 2023, and provided revenue guidance for full-year 2024.\n\n\nPreliminary, Unaudited Fourth Quarter and Full-Year 2023 Revenue Ranges\n\n\n\n\n \n\n\n\n\n\n\nFourth Quarter Ended\n\n\n\n\nDecember 31, 2023\n\n\n\n\n\n\nFull-Year Ended\n\n\n\n\nDecember 31, 2023\n\n\n\n\n\n\n\n\nSurgical Revenue\n\n\n\n\n\n\n$121.8M to $122.8M\n\n\n\n\n\n\n$422.0M to $423.0M\n\n\n\n\n\n\n\n\nEOS Revenue\n\n\n\n\n\n\n$15.0M to $15.6M\n\n\n\n\n\n\n$59.1M to $59.7M\n\n\n\n\n\n\n\n\nTotal Revenue\n\n\n\n\n\n\n$136.8M to $138.4M\n\n\n\n\n\n\n$481.1M to $482.7M\n\n\n\n\n\n\n\n\nMay not foot due to rounding\n\n\n\n\n\n\n\nPreliminary total revenue grew approximately 37% in the full-year 2023. The continued strong momentum of the Company’s lateral franchise, which includes PTP (the Prone TransPsoas approach) and LTP (the Lateral TransPsoas approach), fueled portfolio-wide adoption and preliminary, full-year 2023 surgical revenue growth of 39% to 40%. Surgical volume growth accelerated to 31% for the full-year 2023 compared to 25% in 2022.\n\n\n“Our conviction that good spine surgery is good business drove sector-leading growth again in 2023,” said Pat Miles, Chairman and Chief Executive Officer. “As we look to what is ahead, we know our best is yet to come. The vast need for more predictable, more durable spine care is not and cannot be met by distracted conglomerateurs. Leveraging 100% spine focus, we will continue to earn market share by distinguishing ATEC with information-integrated procedures that improve spine surgery outcomes. The robust volume growth that results will enable further execution against our profitability commitments and self-funded continued future growth.”\n\n\nThe preliminary revenue results announced today are based on the Company’s current expectations and may be adjusted as a result of, among other things, completion of customary annual audit procedures.\n\n\nRevenue Outlook for the Full-Year 2024\n\n\nThe Company anti...