Alphatec (NSDQ:ATEC) shares ticked up today on fourth-quarter results that came up shy of the consensus forecast.
The Carlsbad, California–based spine surgery device company posted losses of $40.2 million, or 40¢ per share, on sales of $73.92 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on sales growth of 71.4%.
Alphatec’s losses per share of 40¢ fell 9¢ behind expectations on Wall Street, where analysts were looking for sales of $73.96 million.
“2021 marks the highest revenue on record for ATEC and another year of sector-leading growth,” Alphatec Chairman and CEO Pat Miles said in a news release. “The magnitude and consistency of our growth is a direct reflection of our ability to earn surgeon trust. That trust is a result of our relentless commitment to creating clinically distinct technology that improves the predictability and reproducibility of spine surgery.”
Alphatec anticipates total revenues of $305 million in 2022, representing year-over-year growth of approximately 25% compared to 2021.
Shares of ATEC were up 2.2% at $11.31 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%.