Business
ATEC Reports Second Quarter 2024 Financial Results And Raises Full-Year Guidance
Surgical revenue grew 27% and drove total revenue growth of 25% to $146 million Full-year revenue and profitability guidance increased CARLSBAD,
About this update from Alphatec Holdings, Inc.
[{"type":"text","content":"\n\nSurgical revenue grew 27% and drove total revenue growth of 25% to $146 million\n\n\n\nFull-year revenue and profitability guidance increased\n\n\n\n CARLSBAD, Calif.--(BUSINESS WIRE)--\nAlphatec Holdings, Inc. (NASDAQ:ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, today announced financial results for the quarter ended June 30, 2024, and recent corporate highlights.\n\n\nSecond Quarter 2024 Financial Results\n\n\n\n\nQuarter Ended June 30, 2024\n\n\nTotal revenues\n\n$\n\n\n\n\n\n\n146\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nGAAP gross margin\n\n \n\n\n\n\n\n\n71\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nNon-GAAP gross margin\n\n \n\n\n\n\n\n\n71\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nOperating expenses\n\n$\n\n\n\n\n\n\n138\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nNon-GAAP operating expenses\n\n$\n\n\n\n\n\n\n114\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nGAAP net loss\n\n$\n\n\n\n\n\n\n(41\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n$\n\n\n\n\n\n\n5.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nAdjusted EBITDA margin\n\n \n\n\n\n\n\n\n4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nEnding cash balance\n\n$\n\n\n\n\n\n\n100\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nRecent Highlights\n\n\n\nLaunched EOS Insight™, integrating the power of EOS imaging, automation and AI into spine operating rooms;\n\n\n\nContinued to elevate U.S. footprint with expansion in several major markets, which was reflected in a record 244 surgeon training engagements;\n\n\n\nDrove 20% growth in new surgeon adoption, a key leading indicator of long-term future growth;\n\n\n\nDeployed over $50 million of revenue-generating assets to capitalize on new surgeon adoption, U.S. footprint expansion and market disruption;\n\n\n\nAppointed Keith Valentine, spine veteran with over 30 years of direct spine industry experience, to the Board of Directors.\n\n\n\n“In the second quarter, ATEC’s procedural thesis perpetuated best-in-class top line growth and fueled the accomplishment of several milestones,” said Pat Miles, Chairman and Chief Executive Officer. “The launch of EOS Insight has begun, enabling the translation of EOS images into unparalleled informatics that advance every step of the clinical experience. Surgeon training reached an all-time high fueled by accelerated surgeon demand in new and existing territories. We also progressed toward self-funded growth, inflecting to profitability. Th...