Charles Sternberg, Assistant Editor05.10.21
Alphatec Holdings Inc., a provider of solutions dedicated to revolutionizing the approach to spine surgery, has announced financial results for the quarter ended March 31, 2021.
Total revenue for the first quarter of 2021 was $44.1 million, compared to $30.1 million in 2020.
“With revenue growth of 50% in the first quarter, ATEC’s market share expansion continues,” said Pat Miles, chairman and chief executive officer. “Our relentless focus on improving the clinical experience in spine is now propelling industry-leading growth. Market-shaping innovation, integrated with unprecedented intra-operative information, is compelling an increasing number of surgeons and exclusive distributors to partner with ATEC. That growth is being amplified as the introduction of distinct products and procedures throughout our portfolio increases revenue per surgery and inspires broader adoption. Still, there is vast opportunity ahead of us to advance spine surgery, and as spine’s most experienced students, we know that ATEC’s best is yet to come!”
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 for the first quarter of 2021 was $44.1 million, compared to $30.1 million in 2020.
“With revenue growth of 50% in the first quarter, ATEC’s market share expansion continues,” said Pat Miles, chairman and chief executive officer. “Our relentless focus on improving the clinical experience in spine is now propelling industry-leading growth. Market-shaping innovation, integrated with unprecedented intra-operative information, is compelling an increasing number of surgeons and exclusive distributors to partner with ATEC. That growth is being amplified as the introduction of distinct products and procedures throughout our portfolio increases revenue per surgery and inspires broader adoption. Still, there is vast opportunity ahead of us to advance spine surgery, and as spine’s most experienced students, we know that ATEC’s best is yet to come!”
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.