Q1 2024 Alphatec Holdings Inc Earnings Call Transcript
Key Points
- Reported a significant revenue growth of 27% year-over-year, reaching $138 million in total revenue for the first quarter.
- Achieved a 30% growth in surgical revenue and a 23% increase in surgical volume, indicating strong market demand and adoption.
- Expanded the sales team and invested $60 million in revenue-generating assets to support increased surgical volumes and market demand.
- Introduced 150 new surgeons to their systems in the quarter, leading to a 21% increase in surgeon adoption.
- Continued innovation and development in neuromonitoring and lateral surgery techniques, maintaining a leadership position in these areas.
- Despite revenue growth, the company reported an adjusted EBITDA loss of $3 million, although this is an improvement from the previous year.
- The company is still in the early stages of market penetration in several international markets, including Japan, which may delay significant revenue contributions from these regions.
- Faces challenges in the capital equipment market, particularly with the new EOS Insight launch, as it requires significant effort to educate and sell to new customers.
- The company's profitability is still under pressure, with significant investments planned for the year that could affect short-term financial stability.
- Relies heavily on the continued adoption and integration of new surgical techniques and technologies, which may face resistance or slower acceptance in conservative markets.
Good afternoon, everyone, and welcome to the webcast of Atec's first 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 GAAP 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 Koenig. Now, I will turn the call over to Pat Miles.
Thanks much, Desiree, and welcome, everybody, to the Q1 2024
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