Alphatec Holdings, Inc. (ATEC) Q4 2023 Earnings Call Transcript

Alphatec Holdings, Inc. (NASDAQ:ATEC) Q4 2023 Earnings Conference Call February 27, 2024 4:30 PM ET

Company Participants

Pat Miles - Chairman and CEO
Todd Koning - CFO

Conference Call Participants

Vik Chopra - Wells Fargo
Brooks O'Neil - Lake Street Capital Markets
David Jackson - Needham & Company
Drew Ranieri - Morgan Stanley

Operator

Good afternoon everyone and welcome to the webcast of ATEC’s Fourth 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. Please go ahead.

Pat Miles

Thanks very much [Indiscernible]. Welcome to the Q4 2023 financial results call. Clearly, there will be some forward-looking statements. But I would characterize 2023 as a very good year. And a few of the highlights, much of which has been communicated, but revenue of $482 million, which was a 37% total revenue growth, 890 basis points of adjusted EBITDA expansion, 40% surgical revenue growth was a broad contribution, 31% surgical volume growth versus 25% in 2022, which suggest acceleration, greater than 500 surgeons trained, and a lot of work really in three key areas, which is beginning with lateral, we launched LTP with the ALIF Midline element.