Alphatec Holdings, Inc. (ATEC) Q1 2024 Earnings Call Transcript

Alphatec Holdings, Inc. (NASDAQ:ATEC) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET

Company Participants

Patrick Miles - Chairman and CEO
Todd Koning - CFO

Conference Call Participants

Joshua Jennings - TD Cowen
David Saxon - Needham
Vik Chopra - Wells Fargo
Sean Lee - H.C. Wainwright
Young Li - Jefferies

Operator

Good afternoon everyone and welcome to the webcast of ATEC’s First 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 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.

Patrick Miles

Thanks much Desiree and welcome everybody to the Q1 2024 Financial Results Call. We will be making some forward-looking statements and so I would ask you to review that at your leisure. A quick review of the Q1 2024 highlights.

We are establishing a foundation to deliver profitable long-term growth. Pretty clear. $138 million in total revenue, which is a 27% revenue growth. 450 basis points of adjusted EBITDA expansion. 30% surgical revenue growth. 23% surgical volume growth. 6% growth in average surgical revenue per case. And so from an adoption perspective, 150 surgeons trained in the quarter. That drove a 21% increase in surgeon adoption. From an investment in revenue generating assets, we continue to invest in a market