Q2 2024 Alphatec Holdings Inc Earnings Call Transcript
Key Points
- Alphatec Holdings Inc (ATEC) reported a 25% year-over-year revenue growth, reaching $145.6 million in Q2 2024.
- Surgical revenue grew by 27%, driven by strong performance in lateral and expandable implants.
- The company achieved profitability with an adjusted EBITDA of $5.6 million.
- There was a 20% growth in new surgeon users and a record-breaking 244 surgeon training engagements.
- The successful on-time launch of EOS Insight, an advanced imaging and informatics tool, is expected to drive future growth and improve spine surgery predictability.
- Cash burn for 2024 is expected to be higher than initially forecasted, ranging between $125 million and $135 million.
- There were supply constraints in one of the biologics offerings and expandable implants, impacting revenue growth.
- The company experienced inefficiencies in inventory management, leading to higher working capital needs.
- Days sales outstanding (DSO) increased, affecting cash flow and necessitating more conservative working capital assumptions.
- The transition to upgraded sales territories caused some dislocation, impacting procedural volume growth.
Good afternoon, everyone, and welcome to the webcast of ATEC's second 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 these measures to US GAAP can be found in the supplemental financial tables 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 Koning. Now I will turn the call over to Pat Miles.
Thanks much, Danica, and thanks, everybody, for your interest in engaging
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
