ATEC Announces Preliminary 2019 Revenue Results and 2020 Revenue Outlook
January 13 2020 - 09:00AM
Alphatec Holdings, Inc. (“ATEC” or the “Company”) (Nasdaq: ATEC), a
medical device company dedicated to revolutionizing the approach to
spine surgery, announced today preliminary revenue results for the
fourth quarter and full year ended December 31, 2019, and provided
revenue guidance for the full year 2020.
Preliminary, Unaudited 2019
Revenue
|
Quarter Ended December 31, 2019 |
Year Ended December 31, 2019 |
Total Revenue |
$32.0 million to $32.4 million |
$113.1 million to $113.5 million |
U.S. Revenue |
$30.9 million to $31.2 million |
$108.0 million to $108.3 million |
Preliminary, unaudited full-year 2019 U.S.
revenue exceeds guidance and reflects revenue growth of 29% to
30%. Fourth quarter 2019 U.S. revenue reflects growth of 34%
to 36% year-over-year and sequential growth of 10% to 11%.
2020 Revenue Guidance
|
Year Ended December 31, 2020 |
|
Total Revenue |
$130 million to $134 million |
|
U.S. Revenue |
$128 million to $131 million |
|
Revenue guidance for 2020 reflects expected U.S.
revenue growth of 19% to 21% compared to 2019, driven by 8 to10
anticipated new product launches and the continued traction of new
products released in 2019, including the SafeOp Neural InformatiX
SystemTM, which is designed to seamlessly integrate critical neural
information into ATEC procedural solutions.
“I am pleased with our performance in 2019,”
said Pat Miles, Chairman and Chief Executive Officer. “We continue
to experience increased demand that outpaces revenue reductions
from our intentional transition of the legacy ATEC sales force to a
strategic network. Our focus is on the future and the continued
reflection of spine’s Organic Innovation Machine. I am confident
that we have the people, vision and experience to continue taking
market share in 2020 and well beyond.”
The preliminary results announced today are
unaudited and are therefore subject to change. The Company expects
to announce its fourth quarter and full-year 2019 financial and
operating results on March 5, 2020.
About Alphatec Holdings,
Inc.
Alphatec Holdings, Inc. (ATEC), through its
wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp
Surgical, Inc., is a medical device company dedicated to
revolutionizing the approach to spine surgery through clinical
distinction. ATEC architects and commercializes approach-based
technology that integrates seamlessly with the SafeOp Neural
InformatiX System to provide real-time, objective nerve information
that can enhance the safety and reproducibility of spine surgery.
Additional information can be found 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 in the forward-looking statements.
The Company cautions investors that there can be no assurance that
actual results will not differ materially from those projected or
suggested in such forward-looking statements as a result of various
factors. Forward-looking statements include references to the
Company’s planned commercial launches, product introductions and
product integration, surgeon and market acceptance of Company
products, solutions and platforms, the Company’s ability to deliver
key product features, and 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
currently 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 with emerging new technologies;
product liability exposure; patent infringement claims; and claims
related to the Company’s intellectual property. The words
“believe,” “will,” “should,” “expect,” “intend,” “estimate,” “look
forward” and “anticipate,” 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.
Investor/Media Contact:
Josh BergInvestor Relations (760)
494-6790ir@atecspine.com
Company Contact:
Jeff BlackChief Financial OfficerAlphatec Holdings, Inc.
ir@atecspine.com
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