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Home » Alphatec posts mixed-bag Q2 results, sales up 110%

Alphatec posts mixed-bag Q2 results, sales up 110%

August 4, 2021 By Danielle Kirsh

alphatec logo newAlphatec (Nasdaq: ATEC) today posted second-quarter results today that beat the revenue consensus on Wall Street but missed on earnings estimates.

The Carlsbad, Calif.-based spine surgery device company reported losses of -$38.2 million, or -39¢ per share, on sales of $62.2 million for the three months ended June 30, with sales growth of 110.09% compared with Q2 2020.

Earnings per share were -39¢, 20¢ behind The Street, where analysts were looking for sales of $44.8 million.

“We are accelerating revenue through sound execution of our growth priorities,” CEO Pat Miles said in a news release. “But this is just the first inning; we intend to become the dominant force in the industry by significantly improving the clinical experience in spine. We channeled decades of spine experience as the pioneers of lateral surgery to create the PTP technique in order to improve the optionality and predictability of the lateral approach. PTP adoption is accelerating and utilization is increasing among both new and existing surgeon customers.”

Alphatex said it expects total revenue for the 2021 fiscal year to be approximately $238 million, representing 64% growth compared to the year prior.

Shares in ATEC were up more than 4% to $$14.88 apiece by afternoon trading today. MassDevice‘s MedTech 100 Index, which includes the world’s largest medical device companies, saw little change.

Filed Under: MassDevice Earnings Roundup, Orthopedics, Spine, Surgical, Wall Street Beat Tagged With: Alphatec

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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