Alphatec Holdings, Inc. announced financial results for the quarter ended March 31, 2021. Total revenue was $44.1 million, with U.S. revenue reaching $43.7 million, reflecting a 50% growth. The company anticipates total revenue for the full year 2021 to be approximately $190 million.
U.S. revenue growth accelerated to 50%.
Revenue growth averaged approximately 33% over the past eight quarters.
New products contributed to 77% of U.S. revenue, up from 56% in Q1 2020.
Sales network transformation delivered 60% year-over-year revenue growth from strategic distribution.
The Company expects total revenue for the fiscal year ended December 31, 2021, to approximate $190 million, which includes U.S. revenue of approximately $188 million. Revenue guidance reflects expected U.S. revenue growth of roughly 33% compared to 2020, driven by continued launches of novel procedures, products, and the revitalization of the Company’s distribution network. Total revenue guidance contemplates the anticipated wind-down of the Company’s international supply agreement on August 31, 2021.
Analyze how earnings announcements historically affect stock price performance