ATEC Announces Select Preliminary Third Quarter 2022 Financial Results and Raises Guidance
10 Oktober 2022 - 3:00PM
Business Wire
Total revenue of $89 to $90 million
Total revenue growth of 42% to 43%, including
organic revenue growth of 51% to 53%
Full-year 2022 total revenue growth now
expected to approximate 40%
Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative
solutions dedicated to revolutionizing the approach to spine
surgery, announced today select preliminary financial results for
the third quarter ended September 30, 2022, and updated full-year
2022 revenue guidance ahead of investor meetings scheduled during
the 2022 North American Spine Society (NASS) Annual Meeting.
Preliminary Third Quarter 2022 Revenue Ranges
Quarter Ended September 30,
2022
Organic Revenue
$78.0M to $78.8M
EOS-Related Revenue
$11.0M to $11.2M
Total Revenue
$89.0M to $90.0M
Preliminary, third quarter 2022 total revenue is expected to
grow 42% to 43% compared to third quarter 2021. Propelled by
continued strong momentum of the PTP™ approach, procedural volume
growth exceeded 30% and drove organic revenue growth of 51% to 53%.
The Company closed the third quarter with a cash balance of
approximately $106 million.
The Company now expects full year 2022 revenue growth to
approximate 40% compared to the 34% growth expectation provided in
previous guidance.
The select preliminary financial 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
quarter-end close review procedures and further financial
review.
Date and Access Details for Third Quarter Financial
Results
The Company expects to announce third quarter 2022 financial and
operating results on November 3, 2022, after the market close. The
Company will host a live webcast that day at 1:30 p.m. PT / 4:30
p.m. ET.
Webcast
To access the live webcast, please visit the Investor Relations
Section of ATEC’s Corporate Website.
Dial-in
To dial into the live webcast, please register at this link.
Access details will be shared via email.
Replay
A replay of the webcast will remain available through the
Investor Relations Section of ATEC’s Corporate Website for twelve
months. In addition, a dial-in replay will be available beginning
two hours after the webcast’s completion through November 10, 2022.
Access the replay by dialing (800) 770-2030 and referencing
conference ID number 97241.
About ATEC
ATEC, through its wholly owned subsidiaries, Alphatec Spine,
Inc., EOS imaging S.A. and SafeOp Surgical, Inc., is a medical
device company dedicated to revolutionizing the approach to spine
surgery through clinical distinction. ATEC’s Organic Innovation
Machine™ is focused on developing new approaches that integrate
seamlessly with the Company’s expanding AlphaInformatiX Platform to
better inform surgery and more safely and reproducibly achieve the
goals of spine surgery. ATEC’s vision is to become the Standard
Bearer in Spine. For more information, visit us at
www.atecspine.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainty. Such statements are based on
management's current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those described therein. Forward-looking statements
include references to the Company’s expectations with respect to
future revenue and growth. The important factors that could cause
actual operating results to differ significantly from those
expressed or implied by such forward-looking statements include,
but are not limited to: the uncertainty of success in developing
new products or products in the Company’s pipeline; failure to
achieve acceptance of the Company’s products by the surgeon
community; failure to obtain FDA or other regulatory clearance or
approval for new products, or unexpected or prolonged delays in the
process; continuation of favorable third-party reimbursement for
procedures performed using the Company’s products; the Company’s
ability to compete with other products and emerging new
technologies; product liability exposure; patent infringement
claims; and changes to our financial results for the quarter ended
September 30, 2022 due to the completion of financial closing
procedures. The words “believe,” “will,” “should,” “expect,”
“intend,” “estimate,” “look forward” and “anticipate,” and
variations of such words and similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not a forward-looking statement. A further list and
description of these and other factors, risks and uncertainties can
be found in the Company's most recent annual report, and any
subsequent quarterly and current reports, filed with the Securities
and Exchange Commission. ATEC disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, unless
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221010005157/en/
Investor/Media Contact: Tina Jacobsen, CFA Investor
Relations (760) 494-6790 investorrelations@atecspine.com
Company Contact: J. Todd Koning Chief Financial Officer
Alphatec Holdings, Inc. investorrelations@atecspine.com
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