ATEC Sales Up 68 Percent for 2021

Alphatec (ATEC) yesterday reported its financial performance for the fourth quarter and full year 2021 (ended Dec 31). The company posted $74 million for the final quarter, $12.8 million of which was generated from the recent acquisition of EOS imaging.
 
Full-year 2021 sales reached $243.2 million, marking a 68 percent increase over the prior year. U.S organic revenue has held a steady CAGR of 36 percent for the last three years, according to the company.
 
“2021 marks the highest revenue on record for ATEC and another year of sector-leading growth,” Pat Miles, ATEC Chairman and CEO told the press. “The magnitude and consistency of our growth is a direct reflection of our ability to earn surgeon trust. That trust is a result of our relentless commitment to creating clinically distinct technology that improves the predictability and reproducibility of spine surgery. In 2022, we will continue to expand the lateral market with PTP, advance our distribution network, and place EOS imaging systems while driving portfolio-wide adoption. ATEC is becoming a force in the spine industry.”
 
Over the course of last year, the company accelerated adoption of its Prone Trans-Psoas (PTP) technique. Lateral procedures accounted for over 40 percent of revenue growth. Its recently launched ALIF system also boosted anterior column prowess.
 
ATEC trained over 400 surgeons in 2021, which translated to a 23 percent increase in surgeon users in Q4 compared to 2020.
 
The company anticipates fiscal year 2022 revenue to reach about $305 million ($45 million related to EOS imaging), representing 25 percent growth over this year.