Alphatec Holdings, Inc. (ATEC) Q3 2023 Earnings Call Transcript

Alphatec Holdings, Inc. (NASDAQ:ATEC) Q3 2023 Earnings Conference Call November 6, 2023 4:30 PM ET

Company Participants

Pat Miles - Chairman and Chief Executive Officer
Todd Koning - Chief Financial Officer

Conference Call Participants

Brooks O’Neil - Lake Street Capital Markets
Matt Blackman - Stifel
Matthew O’Brien - Piper Sandler
Joshua Jennings - TD Cowen
Drew Ranieri - Morgan Stanley
Sean Lee - H.C. Wainwright
Jason Wittes - ROTH

Operator

Good afternoon, everyone and welcome to the webcast of ATEC’s Third Quarter Financial Results. We would like to remind everyone that participants on the call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to differ materially. These uncertainties are detailed in documents filed regularly with the SEC.

During this call, you may hear the company refer to non-GAAP pro forma or adjusted measures. Reconciliations of non-GAAP measures to U.S. GAAP can be found in the supplemental financial tables included in today’s press release, which identify and quantify all excluded items and provide management’s view of why this information is useful to investors.

Leading today’s call will be ATEC’s Chairman and CEO, Pat Miles; and CFO, Todd Koning. Now, I will turn the call over to Pat Miles.

Pat Miles

Thanks, Regina and welcome everybody to the Q3 2023 financial results. There is going to be some forward-looking statements. So, if you would read that at your leisure that would be greatly appreciated. And so our spine-focused momentum continues.

So, revenue for the quarter was $118 million, 32% revenue growth. The surgical revenue growth was also 32% and a positive adjusted EBITDA of $2 million. So just a few highlights. We achieved 24% volume growth and 6% growth in revenue per procedure, drove $14 million in EOS revenue that’s a growth rate of 30%, launched Calibrate LTX, an expandable implant for lateral procedures, so