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Sep 30, 2021
Alphatec Q3 2021 Earnings Report
ATEC reported Q3 2021 financial results with a revenue increase driven by the adoption of the PTP technique and EOS imaging.
Key Takeaways
Alphatec Holdings, Inc. reported a strong third quarter with a 53% increase in total revenue, driven by organic growth and the adoption of the PTP technique. Revenue related to EOS imaging exceeded $11 million. The company is increasing its full year revenue guidance to $235 million.
Total revenue grew by 53%, including 29% organic revenue growth.
ATEC lateral delivered over 50% of Q3 revenue growth driven by advancing adoption of PTP Technique.
EOS imaging revenue exceeded $11 million.
Surgeon users expanded by 20% compared to Q3 2020.
Forward Guidance
The Company now expects total revenue for the fiscal year ended December 31, 2021, to approximate $235 million, reflecting growth of approximately 62% compared to the prior full year. This includes an organic revenue contribution of approximately $208 million, or 47% growth compared to the prior full year, which has been updated to reflect the impact of the COVID pandemic in the third quarter 2021. The Company now anticipates about $26 million of revenue related to EOS imaging, which accounts for slightly stronger than expected EOS-related revenue in the third quarter 2021. Total revenue guidance for the full year also includes an approximate $1 million contribution from the Company’s international supply agreement, which terminated on August 31, 2021.
Positive Outlook
- Total revenue for 2021 is expected to be approximately $235 million.
- Reflecting growth of approximately 62% compared to the prior full year.
- Organic revenue contribution of approximately $208 million.
- Organic revenue growth of 47% compared to the prior full year.
- Approximately $26 million of revenue related to EOS imaging.
Challenges Ahead
- Revenue guidance has been updated to reflect the impact of the COVID pandemic in the third quarter 2021.
Historical Earnings Impact
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