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Alphatec Holdings, Inc. (NASDAQ:ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today preliminary revenue results for the fourth quarter and full-year ended December 31, 2023, and provided revenue guidance for full-year 2024.
Preliminary, Unaudited Fourth Quarter and Full-Year 2023 Revenue Ranges
Fourth Quarter Ended December 31, 2023 | Full-Year Ended December 31, 2023 | |
| Surgical Revenue | $121.8M to $122.8M | $422.0M to $423.0M |
| EOS Revenue | $15.0M to $15.6M | $59.1M to $59.7M |
| Total Revenue | $136.8M to $138.4M | $481.1M to $482.7M |
| May not foot due to rounding | ||
Preliminary total revenue grew approximately 37% in the full-year 2023. The continued strong momentum of the Company's lateral franchise, which includes PTP (the Prone TransPsoas approach) and LTP (the Lateral TransPsoas approach), fueled portfolio-wide adoption and preliminary, full-year 2023 surgical revenue growth of 39% to 40%. Surgical volume growth accelerated to 31% for the full-year 2023 compared to 25% in 2022.
"Our conviction that good spine surgery is good business drove sector-leading growth again in 2023," said Pat Miles, Chairman and Chief Executive Officer. "As we look to what is ahead, we know our best is yet to come. The vast need for more predictable, more durable spine care is not and cannot be met by distracted conglomerateurs. Leveraging 100% spine focus, we will continue to earn market share by distinguishing ATEC with information-integrated procedures that improve spine surgery outcomes. The robust volume growth that results will enable further execution against our profitability commitments and self-funded continued future growth."
The preliminary revenue results announced today are based on the Company's current expectations and may be adjusted as a result of, among other things, completion of customary annual audit procedures.
Revenue Outlook for the Full-Year 2024
The Company anticipates full-year 2024 total revenue of $595 million, reflecting growth of approximately 23% to 24% compared to the full-year 2023. This includes surgical revenue of approximately $530 million and approximately $65 million of EOS revenue.
The Company will report fourth quarter and full-year 2023 financial results, and provide guidance for 2024 profitability, on Tuesday, February 27, 2024, after the market close. The Company will host a live webcast that day at 1:30 p.m. PT / 4:30 p.m. ET.
Posted In: ATEC
