Alphatec Holdings, Inc. (ATEC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to the webcast of ATEC's second quarter financial results. We would like to remind everyone that participants on the call will make forward-looking statements. These statements are based on the current expectations and are subject to uncertainties that could cause actual results to differ materially. These uncertainties are detailed in documents filed regularly with the SEC. During this call, you may hear the company refer to non-GAAP or adjusted measures. Reconciliations of these measures to U.S. GAAP can be found in the supplemental financial tables included in today's press release, which identify and quantify all excluded items and provide management's views of why this information is useful to investors. Leading today's call will be ATEX chairman and CEO Pat Miles and CFO Todd Conning. Now, I will now turn the call over to Pat Miles. Please go ahead, sir. Hey, thanks, Mark. Really appreciate it. Welcome to the Q2 2025 financial results call from ATEC. There will be some forward-looking statements, so read that at your leisure. So I would consider this a good to great quarter. And so Q2 2025 financial results, the surgical revenue growth of 29%, which is about six times the market. I would think that that's growth leadership. $23 million in adjusted EBITDA, which is a record for us, and 13% of revenue. It improved 880 basis points year over year, which inflects us in that $5 million in free cash flow. And so the profitable revenue growth leadership has continued. And so the... profitable growth continues at $186 million in total revenue. The total revenue growth was 27%. As I said, the surgical revenue growth at 29%. The way we look at same store sales, so revenue growth in established territories was 29%. That tells you that...