Business
ATEC Reports Record Fourth Quarter and Full-Year 2022 Financial Results and Recent Corporate Highlights
Full-year revenue grows 44% to $351 million, including EOS revenue of $48 million Fourth quarter revenue grows 43% to $106 million Adjusted fourth quarter
About this update from Alphatec Holdings, Inc.
[{"type":"text","content":"\n\nFull-year revenue grows 44% to $351 million, including EOS revenue of $48 million\n\n\nFourth quarter revenue grows 43% to $106 million\n\n\nAdjusted fourth quarter EBITDA margin improves 750 basis points year-over-year\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, 2022, and recent corporate highlights.\n\nFourth Quarter and Full Year 2022 Financial Results\n\n\n\n \n\n\n \n\nQuarter Ended\nDecember 31, 2022\n\n\n \n\nYear Ended\nDecember 31, 2022\n\n\n\n\n\nTotal revenue\n\n\n \n\n$106 million\n\n\n \n\n$351 million\n\n\n\n\n\nGAAP gross margin\n\n\n \n\n65%\n\n\n \n\n66%\n\n\n\n\n\nNon-GAAP gross margin\n\n\n \n\n69%\n\n\n \n\n70%\n\n\n\n\n\nOperating expenses\n\n\n \n\n$104 million\n\n\n \n\n$380 million\n\n\n\n\n\nNon-GAAP operating expenses\n\n\n \n\n$85 million\n\n\n \n\n$306 million\n\n\n\n\n\nGAAP operating loss\n\n\n \n\n($35) million\n\n\n \n\n($147) million\n\n\n\n\n\nNon-GAAP adjusted EBITDA\n\n\n \n\n($3) million\n\n\n \n\n($28) million\n\n\n\n\n\nEnding cash balance\n\n\n \n\n$85 million\n\n\n\n\nRecent Highlights\n\n\nExpanded lateral procedural sophistication with PTP and LTP the strongest contributors to Q4 and full year revenue growth;\n\n\nDrove a 26% increase in surgical volume and an 18% increase in average revenue per procedure in Q4;\n\n\nTrained over 500 surgeons in 2022, contributing to a 22% increase in surgeon users compared to prior year;\n\n\nSecured non-dilutive capital creating access to cash and liquidity of up to $275 million.\n\n\n\"I applaud the entire ATEC Family for delivering another record-breaking year,\" said Pat Miles, Chairman and Chief Executive Officer. \"Our success endures because our priorities do not change: we focus exclusively on spine, pursue the unmet clinical needs of surgery, and we create innovative, integrated procedures to address those needs faster than others in the industry. Many of the leading minds in spine are attracted to ATEC because their passion, like ours, is to obsessively rethink surgical procedures from the ground up. At ATEC, our business is in the operating room. With the know-how we have assembled, I could not be more enthusiastic about the...