NASDAQ$ATEC

Alphatec Holdings Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Reported a 35% increase in total revenue, driven by organic growth and EOS imaging revenue.

Alphatec Holdings, Inc. reported strong second-quarter results, with total revenue growing by 35% to $84 million, including a 30% increase in organic revenue. The company's performance was driven by increased surgeon users and strong adoption of its products, leading to growth in revenue per surgery. ATEC also increased its full-year revenue guidance to $325 million, reflecting 34% growth.

  • Total revenue increased by 35% to $84 million, with organic revenue growth of 30%.
  • EOS imaging generated $12 million in revenue, reflecting 49% growth on a pro-forma basis.
  • Surgeon users increased by 23% compared to the prior year, contributing to revenue growth.
  • The company increased full-year revenue guidance to $325 million, representing 34% growth.

Headline financials

Total Revenue

$84.2M

Previous: $62.2M+35.2%
EPS (adj)

-$0.36

Previous: -$0.39+7.7%
Non-GAAP Gross Margin

70.0%

Previous: 73.2%-4.4%
Capital Expenditures

-$26.3M

Previous: -$36M+26.9%
Free Cash Flow

-$63.7M

Previous: -$74.2M+14.2%
Net Income

-$37.3M

Previous: -$38.2M+2.3%
Operating Income

-$35.7M

Previous: -$35.8M+0.0%
Gross Profit

$55.5M

Previous: $41.1M+35.1%
Cash & Equivalents

$107M

Previous: $76.6M+40.3%
Total Assets

$512M

Previous: $441M+16.1%
Stock-Based Comp

$9.2M

Previous: $11.5M-19.9%

Revenue & EPS history

Alphatec · Revenue · Quarterly

$84.2M

Q2 2022+35.2%vs Q2 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Alphatec · $104M total across 1 segment · Q3 2023

  • Surgical Revenue
    $104M

Forward guidance

The Company now expects total revenue of $325 million for the fiscal year ended December 31, 2022, reflecting growth of approximately 34% compared to the full year 2021. This includes organic revenue growth of approximately 31% and $48 million of revenue related to EOS imaging.

Tailwinds

  • Expecting total revenue of $325 million for fiscal year 2022.
  • Revenue growth of approximately 34% compared to 2021.
  • Organic revenue growth of approximately 31%.
  • $48 million of revenue related to EOS imaging.
  • Executing against commitments and confident that years of sustainable growth and scale lie ahead.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-1.5%

Avg return

Earnings day

-1.4%

Avg return

5 days after

-0.1%

Avg return

30 days after

45%

29 / 64 earnings

Positive

+44.8%

Q3 2024

Best reaction

-43.2%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%-27.1%-23.3%
Q4 2025+0.5%-3.3%-21.5%
Q3 2025-0.8%+17.8%+36.7%
Q1 2025+2.4%+2.2%+2.2%
Q4 2024+9.6%+6.1%-7.9%
Q3 2024+44.8%+54.2%+93.4%
Q2 2024-32.8%-33.7%-30.2%
Q1 2024-20.2%-13.3%-22.7%
Q4 2023-7.4%-11.1%-8.6%
Q3 2023+4.7%-1.5%+20.8%
Q2 2023-7.1%-10.4%-5.2%
Q1 2023+3.1%+3.8%+4.5%
Q4 2022+1.6%+7.9%+6.3%
Q3 2022-1.5%-1.4%+9.5%
Q2 2022-0.2%-3.8%-10.9%
Q1 2022-16.1%-27.7%-34.0%
Q4 2021+3.1%+3.4%+4.4%
Q3 2021-2.2%-8.2%-18.7%
Q2 2021+2.4%-5.8%-0.2%
Q1 2021-2.0%-9.1%-8.3%
Q4 2020-7.6%+4.2%-2.1%
Q3 2020+9.4%+4.7%+22.1%
Q2 2020+21.8%+5.6%+3.1%
Q1 2020-8.0%-13.9%+5.7%
Q4 2019-8.4%-20.8%-47.2%
Q3 2019+15.2%+16.1%+18.1%
Q2 2019+9.3%+8.5%+26.2%
Q1 2019+5.4%+15.8%+8.8%
Q4 2018+14.7%+16.6%+22.1%
Q3 2018-1.7%-5.6%-13.5%
Q2 2018+4.7%+15.0%+28.1%
Q1 2018-2.0%-0.9%-1.1%
Q4 2017+0.9%-5.0%+1.2%
Q3 2017-0.8%-0.6%-30.5%
Q2 2017+2.4%+2.4%+40.2%
Q1 2017+1.9%+0.0%-4.8%
Q4 2016-16.0%-27.0%-45.8%
Q3 2016-15.8%-8.0%-12.8%
Q2 2016+2.5%+0.0%-6.5%
Q1 2016-11.8%
Q4 2015-13.8%
Q3 2015+5.8%
Q2 2015-42.6%
Q1 2015+1.4%
Q4 2014+7.4%
Q3 2014-0.7%
Q2 2014+0.0%
Q1 2014+2.3%
Q4 2013+22.3%
Q3 2013-0.5%
Q2 2013-3.9%
Q1 2013-3.2%
Q4 2012+2.6%
Q3 2012-1.8%
Q2 2012-2.5%
Q1 2012-7.4%
Q4 2011-0.5%
Q3 2011-5.6%
Q2 2011-10.4%
Q1 2011+3.7%
Q4 2010+0.4%
Q3 2010-9.6%
Q2 2010-43.2%
Q1 2010+6.9%

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