NASDAQ$ATEC

Alphatec Holdings Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Alphatec reported record fourth quarter and full-year 2022 financial results.

Alphatec Holdings, Inc. reported a 43% increase in fourth-quarter revenue, reaching $106 million. The adjusted fourth-quarter EBITDA margin improved by 750 basis points year-over-year.

  • Expanded lateral procedural sophistication with PTP and LTP the strongest contributors to Q4 and full year revenue growth
  • Drove a 26% increase in surgical volume and an 18% increase in average revenue per procedure in Q4
  • Trained over 500 surgeons in 2022, contributing to a 22% increase in surgeon users compared to prior year
  • Secured non-dilutive capital creating access to cash and liquidity of up to $275 million

Headline financials

Total Revenue

$106M

Previous: $74M+43.2%
EPS (adj)

-$0.33

Previous: -$0.40+17.5%
Non-GAAP Gross Margin

69.0%

Previous: 70.5%-2.1%
Capital Expenditures

$13.5M

Previous: $19.6M-31.3%
Free Cash Flow

-$21.9M

Previous: -$34.5M+36.5%
Net Income

-$35M

Previous: -$40.2M+12.9%
Operating Income

-$35M

Previous: -$38.1M+8.2%
Gross Profit

$68.9M

Previous: $45.2M+52.2%
Cash & Equivalents

$84.7M

Previous: $187M-54.8%
Total Assets

$513M

Previous: $572M-10.3%
Stock-Based Comp

$10.1M

Previous: $9.73M+3.8%

Revenue & EPS history

Alphatec · Revenue · Quarterly

$106M

Q4 2022+43.2%vs Q4 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 continues to expect total revenue for the fiscal year ended December 31, 2023, to approximate $438 million, reflecting growth of approximately 25% compared to 2022. The Company expects to achieve non-GAAP adjusted EBITDA break-even for the full-year 2023.

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 2022

Historical avgQ4 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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