Business
ATEC Reports Fourth Quarter and Full Year 2021 Financial Results and Recent Corporate Highlights
Revenue growth of 68% for full year 2021, including organic revenue growth of 50% U.S. organic revenue 3-year CAGR of 36% Fourth quarter EOS imaging-related
About this update from Alphatec Holdings, Inc.
[{"type":"text","content":"\n\nRevenue growth of 68% for full year 2021, including organic revenue growth of 50%\n\n\nU.S. organic revenue 3-year CAGR of 36%\n\n\nFourth quarter EOS imaging-related revenue of $12.8 million\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, today announced financial results for the quarter and full year ended December 31, 2021, and recent corporate highlights.\n\nFourth Quarter and Full Year 2021 Financial Results\n\n\n\n \n\n\n\nQuarter Ended\nDecember 31, 2021\n\n\n\nYear Ended\nDecember 31, 2021\n\n\n\n\n\nTotal revenue\n\n\n\n$74.0 million\n\n\n\n$243.2 million\n\n\n\n\n\nGAAP gross margin\n\n\n\n61.1%\n\n\n\n64.9%\n\n\n\n\n\nNon-GAAP gross margin\n\n\n\n70.5%\n\n\n\n72.8%\n\n\n\n\n\nOperating expenses\n\n\n\n$83.4 million\n\n\n\n$285.8 million\n\n\n\n\n\nNon-GAAP operating expenses\n\n\n\n$66.2 million\n\n\n\n$225.6 million\n\n\n\n\n\nGAAP operating loss\n\n\n\n($38.1) million\n\n\n\n($128.1) million\n\n\n\n\n\nNon-GAAP adjusted EBITDA\n\n\n\n($7.5) million\n\n\n\n($28.1) million\n\n\n\n\n\nEnding cash balance\n\n\n\n$187.2 million\n\n\n\n\nRecent Highlights\n\n\nAccelerated adoption of Prone Trans-Psoas (PTP) Technique, with ATEC lateral procedures delivering over 40% of Q4 revenue growth;\n\n\nExpanded momentum of the recently launched ALIF System advancing anterior column prowess;\n\n\nTrained over 400 surgeons in 2021, contributing to a 23% increase in surgeon users in Q4 compared to prior year;\n\n\nGenerated $12.8 million in EOS-related revenue, with significant momentum in sales, product development and data management since close of transaction.\n\n\n“2021 marks the highest revenue on record for ATEC and another year of sector-leading growth,” remarked Pat Miles, Chairman and Chief Executive Officer. “The magnitude and consistency of our growth is a direct reflection of our ability to earn surgeon trust. That trust is a result of our relentless commitment to creating clinically distinct technology that improves the predictability and reproducibility of spine surgery. In 2022, we will continue to expand the lateral market with PTP, advance our distribution network, and place EOS imaging systems while driving portfolio-wide adoption. ATEC is becoming a force in the spine industry.”\n\nFi...