Q3 2024 Alphatec Holdings Inc Earnings Call Transcript
Key Points
- Alphatec Holdings Inc (ATEC) reported a 27% increase in total revenue for Q3, reaching $151 million, with surgical revenue growing by 30%.
- The company achieved a significant reduction in cash burn, with a 50% sequential decrease, and is on track to generate cash in Q4 2024.
- Alphatec Holdings Inc (ATEC) has seen a 19% growth in new surgeon users and conducted over 200 surgeon training engagements, indicating strong adoption of its technologies.
- The company has increased its term loan capacity by $50 million, providing additional financial flexibility.
- Alphatec Holdings Inc (ATEC) achieved its second consecutive quarter of positive adjusted EBITDA, with a $7.4 million contribution, reflecting a 5% margin.
- Non-GAAP gross margin decreased by 60 basis points compared to the prior year, impacted by product mix.
- Despite strong revenue growth, Alphatec Holdings Inc (ATEC) continues to face skepticism from investors about its ability to manage spending and resources effectively.
- The company has a high level of investment in inventory and sets, which may not immediately translate into proportional revenue growth.
- Alphatec Holdings Inc (ATEC) faces challenges in converting trained surgeons into active users, with varying adoption rates.
- The company has a significant amount of convertible notes maturing in 2026, which may require refinancing or conversion, potentially impacting financial stability.
Good afternoon, everyone and welcome to the webcast of Atec's third quarter financial results.
We would like to remind everyone that participants on the call will make forward-looking statements.
These statements are based on current expectations and are subject to uncertainties that could cause actual results to differ. Materially, these uncertainties are detailed in documents filed regularly with the SEC.
During this call. You may hear the company refer to non-GAAP or adjusted measures, reconciliations of non-GAAP measures to us cap can be found in the supplemental financial tables included in today's press release which identify and quantify all excluded items and provide management's view of why this information is useful to investors leading today's call will be Atec's Chairman and CEO Pat Miles and CFO Todd Coning and now I will turn the call over to Pat.
Thank you, Kathleen. So really a a great 23, so super excited about what's
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