NASDAQ$ATEC

Alphatec Holdings Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

ATEC reported results for Q4 2021 and Full Year 2021, highlighted by revenue growth and strategic advancements.

Alphatec Holdings, Inc. reported a strong Q4 and full year 2021, with record revenue and significant growth driven by the adoption of innovative spine surgery solutions and the integration of EOS imaging. The company's focus on surgeon trust and clinically distinct technology contributed to its sector-leading growth.

  • ATEC reported the highest revenue on record for 2021.
  • ATEC's lateral procedures delivered over 40% of Q4 revenue growth, driven by the adoption of Prone Trans-Psoas (PTP) Technique.
  • ATEC trained over 400 surgeons in 2021, contributing to a 23% increase in surgeon users in Q4 compared to the prior year.
  • ATEC generated $12.8 million in EOS-related revenue, showing momentum in sales, product development, and data management.

Headline financials

Total Revenue

$74M

Previous: $44M+68.3%
EPS (adj)

-$0.40

Previous: -$0.27-48.1%
Non-GAAP Gross Margin

70.5%

No prior period
Capital Expenditures

$19.6M

Previous: $10.3M+91.0%
Free Cash Flow

-$34.5M

Previous: -$17M-102.8%
Net Income

-$40.2M

Previous: -$26.8M-50.0%
Operating Income

-$38.1M

Previous: -$17M-123.9%
Gross Profit

$45.2M

Previous: $31.4M+44.1%
Cash & Equivalents

$187M

Previous: $108M+73.8%
Total Assets

$572M

Previous: $261M+119.0%
Stock-Based Comp

$9.73M

Previous: $4.97M+95.6%

Revenue & EPS history

Alphatec · Revenue · Quarterly

$74M

Q4 2021+68.3%vs Q4 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

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

  • Surgical Revenue
    $104M

Forward guidance

The Company continues to expect total revenue for the fiscal year ended December 31, 2022, to approximate $305 million, reflecting growth of approximately 25% compared to the full year 2021. This includes organic revenue growth of 23% and approximately $45 million of revenue related to EOS imaging.

Tailwinds

  • Total revenue for fiscal year 2022 is expected to approximate $305 million.
  • Projected revenue reflects growth of approximately 25% compared to the full year 2021.
  • Organic revenue growth of 23% is anticipated.
  • Approximately $45 million of revenue is expected from EOS imaging.
  • The company will continue to expand the lateral market with PTP, advance our distribution network, and place EOS imaging systems while driving portfolio-wide adoption.

Headwinds

  • Uncertainty of success in developing new products or products currently in the pipeline.
  • Uncertainties in the Company’s ability to execute upon its strategic operating plan.
  • Failure to achieve acceptance of the Company’s products by the surgeon community.
  • Failure to obtain FDA or other regulatory clearance or approval or unexpected or prolonged delays in the process.
  • Uncertainties and risks related to the integration of EOS imaging, S.A.

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 Q4 2021

Historical avgQ4 2021

-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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