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ATEC reported 4Q24 orthopedic sales of $176.8 million, up 28.1% compared to the fourth quarter of 2023. For the full year, the company generated $611.6 million in orthopedic sales, up 26.8% compared to the prior year.
Over the last few years, the company racked up impressive CAGR numbers: 40% total revenue, 19% surgeon adoption, 25% procedure volume and 10% revenue per procedure.
ATEC’s informatics platform of enabling technology is currently driven by EOS, which hit record orders in 2024. The company expects $100 million in EOS revenue by 2027 and sees the technology as a crucial part of adding more predictability into spine surgery.
By addressing the variables of a procedure in ways that its competitors have not, ATEC is bullish on its future prospects given the ongoing disruption of the spine market.
“Those who think that this environment hasn’t progressed beyond plates and screws are kidding themselves,” said ATEC CEO Patrick Miles. “It’s also gone beyond precision-only tools in the operating room. I think that our informatics platform is so unique. When guys from Stryker look around and see what opportunities they have, I think that they’re going to look very favorably upon us. I think it’s a tough place to be in a private equity world whereby investments are difficult and the need for unique technologies that go beyond the operating room are required. I think our chances are great.”
The company expects 2025 revenue growth of 20% to a total of $732 million.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $141.3 | $109.5 | $31.8 | 29% |
| Orthobiologics | $15.2 | $13.1 | $2.1 | 16% |
| Enabling Technology | $20.3 | $15.4 | $4.9 | 32% |
| Total | $176.8 | $138.0 | $38.8 | 28.1% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $490.4 | $377.6 | $112.7 | 29.9% |
| Orthobiologics | $54.5 | $45.6 | $9.0 | 19.7% |
| Enabling Technology | $66.7 | $59.1 | $7.6 | 12.9% |
| Total | $611.6 | $482.3 | $129.3 | 26.8% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $163.2 | $127.6 | $35.6 | 27.9% |
| OUS | $13.6 | $10.3 | $3.2 | 31.3% |
| Total | $176.8 | $138.0 | $38.8 | 28.1% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $571.3 | $445.4 | $125.9 | 28.3% |
| OUS | $40.3 | $36.9 | $3.4 | 9.2% |
| Total | $611.6 | $482.3 | $129.3 | 26.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $176.8 | |
| Cost of Sales | $55.2 | 31.2% |
| Selling and Admin | $114.5 | 64.8% |
| R & D | $23.2 | 13.1% |
| R & D | $23.2 | 13.1% |
| Other | $17.1 | 9.7% |
| Net Earnings | ($33.3) | (18.9%) |
ATEC reported 4Q24 orthopedic sales of $176.8 million, up 28.1% compared to the fourth quarter of 2023. For the full year, the company generated $611.6 million in orthopedic sales, up 26.8% compared to the prior year.
Over the last few years, the company racked up impressive CAGR numbers: 40% total revenue, 19% surgeon adoption, 25%...
ATEC reported 4Q24 orthopedic sales of $176.8 million, up 28.1% compared to the fourth quarter of 2023. For the full year, the company generated $611.6 million in orthopedic sales, up 26.8% compared to the prior year.
Over the last few years, the company racked up impressive CAGR numbers: 40% total revenue, 19% surgeon adoption, 25% procedure volume and 10% revenue per procedure.
ATEC’s informatics platform of enabling technology is currently driven by EOS, which hit record orders in 2024. The company expects $100 million in EOS revenue by 2027 and sees the technology as a crucial part of adding more predictability into spine surgery.
By addressing the variables of a procedure in ways that its competitors have not, ATEC is bullish on its future prospects given the ongoing disruption of the spine market.
“Those who think that this environment hasn’t progressed beyond plates and screws are kidding themselves,” said ATEC CEO Patrick Miles. “It’s also gone beyond precision-only tools in the operating room. I think that our informatics platform is so unique. When guys from Stryker look around and see what opportunities they have, I think that they’re going to look very favorably upon us. I think it’s a tough place to be in a private equity world whereby investments are difficult and the need for unique technologies that go beyond the operating room are required. I think our chances are great.”
The company expects 2025 revenue growth of 20% to a total of $732 million.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $141.3 | $109.5 | $31.8 | 29% |
| Orthobiologics | $15.2 | $13.1 | $2.1 | 16% |
| Enabling Technology | $20.3 | $15.4 | $4.9 | 32% |
| Total | $176.8 | $138.0 | $38.8 | 28.1% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $490.4 | $377.6 | $112.7 | 29.9% |
| Orthobiologics | $54.5 | $45.6 | $9.0 | 19.7% |
| Enabling Technology | $66.7 | $59.1 | $7.6 | 12.9% |
| Total | $611.6 | $482.3 | $129.3 | 26.8% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $163.2 | $127.6 | $35.6 | 27.9% |
| OUS | $13.6 | $10.3 | $3.2 | 31.3% |
| Total | $176.8 | $138.0 | $38.8 | 28.1% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $571.3 | $445.4 | $125.9 | 28.3% |
| OUS | $40.3 | $36.9 | $3.4 | 9.2% |
| Total | $611.6 | $482.3 | $129.3 | 26.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $176.8 | |
| Cost of Sales | $55.2 | 31.2% |
| Selling and Admin | $114.5 | 64.8% |
| R & D | $23.2 | 13.1% |
| R & D | $23.2 | 13.1% |
| Other | $17.1 | 9.7% |
| Net Earnings | ($33.3) | (18.9%) |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
