Alphatec ( (ATEC) ) has realeased its Q3 earnings. Here is a breakdown of the information Alphatec presented to its investors.
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Alphatec Holdings, Inc., a medical device company, focuses on revolutionizing spine surgery through innovative solutions, operating primarily in the healthcare sector with a strong emphasis on clinical distinction.
Alphatec recently reported its financial performance for the third quarter of 2024, showcasing significant growth in both surgical and total revenue. The company also announced an increase in full-year guidance for revenue and profitability, alongside an expansion of its term loan facility to enhance financial flexibility.
Key financial highlights for the quarter include a 30% growth in surgical revenue and a 27% increase in total revenue, reaching $151 million. Despite a GAAP net loss of $40 million, the company achieved an adjusted EBITDA of $7.4 million with a margin of 5%. Other notable achievements include a 20% increase in procedural volume and a 19% rise in new surgeon adoption, which are indicative of future growth prospects.
Alphatec’s strategic financial maneuvering includes a $50 million expansion of its term loan facility, bringing its total capacity to $200 million. This move positions the company to support its ongoing growth initiatives and potential cash flow positivity.
Looking ahead, Alphatec has raised its full-year revenue expectations to $605 million and anticipates an adjusted EBITDA of approximately $27 million, reflecting management’s confidence in sustaining the company’s growth trajectory and profitability improvements.
