The following is a summary of the Alphatec Holdings, Inc. (ATEC) Q1 2024 Earnings Call Transcript:
Financial Performance:
Alphatec Holdings reported a total revenue of $138 million for Q1 2024, up 27% from last year.
Non-GAAP gross margin was at 71%, marking a 50 basis points growth from the prior year.
Non-GAAP SG&A costs and non-GAAP R&D costs have seen an uptick, registering at $101 million and $14 million respectively.
The company expects a total revenue growth of 25% equating to $601 million for FY 2024, with anticipated surgical revenue of $536 million and EOS revenue of about $65 million.
For FY 2024, Alphatec expects its adjusted EBITDA to be approximately $23 million, indicating room for margin expansion.
Business Progress:
Alphatec has increased its surgeon adoption by 21%, having trained 150 surgeons in Q1 2024.
The company has displayed strong established territory performance, showing same-store sales growth of 28%.
As part of R&D efforts, Alphatec has been investing in informatics for improved spine surgery management and the integration of patient-specific implants for predictive analysis.
The acquisition of the robotic navigation platform, Valence, and expansion into Australia, New Zealand, and Japan forms part of the company's growth strategy.
Forward-looking plans include reaching a cash flow breakeven by 2025 and achieving a revenue target of $1 billion by 2027.
Alongside these ambitions, Alphatec plans to enhance its lateral surgery franchise, launch enabling technology for spine workflows, and solidify its position in international markets.
A noteworthy point is that surgeon adoption rates are consistently rising, signaling broadening uptake of Alphatec's core lateral franchise and Patient Transport Protocol.
More details: Alphatec IR
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