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Mar 31, 2023
Alphatec Q1 2023 Earnings Report
ATEC's Q1 2023 financial results were reported, featuring significant revenue growth and strategic advancements.
Key Takeaways
Alphatec Holdings, Inc. reported a 54% increase in total revenue, reaching $109 million for Q1 2023. Surgical revenue grew by 55%, and EOS revenue reached $15 million. The company's adjusted EBITDA margin improved by 1,080 basis points year-over-year. ATEC is maintaining its full-year 2023 revenue growth expectation of 28% to $450 million and anticipates achieving non-GAAP adjusted EBITDA break-even for the year.
Total revenue grew 54% to $109 million, driven by a 55% increase in surgical revenue.
EOS revenue increased to $15 million.
Adjusted EBITDA margin improved by 1,080 basis points year-over-year.
Surgical volume increased by 40%, and average revenue per procedure increased by 11%.
Forward Guidance
The Company continues to expect total revenue to grow 28% to $450 million for the fiscal year ended December 31, 2023, in line with expectations shared in conjunction with the release of preliminary first-quarter financial results. This includes surgical revenue growth of approximately 30% and $57 million of EOS revenue. The Company continues to expect to achieve non-GAAP adjusted EBITDA break-even for the full-year 2023.
Positive Outlook
- Total revenue is expected to grow 28% to $450 million for fiscal year 2023.
- Surgical revenue is projected to grow approximately 30% for the year.
- EOS revenue is anticipated to reach $57 million for the year.
- Company expects to achieve non-GAAP adjusted EBITDA break-even for the full-year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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