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Alphatec Spine (ATEC) posted 3Q17 revenue of US $23.1MM, -13.5% vs. 3Q16, and YTD revenue of $75.5MM, -4.6% vs. the prior year.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
| 3Q17 | 3Q16 | $ Change | % Change | |
| Spine | $21.0 | $24.2 | -$3.3 | -13.5% |
| Orthobiologics | $2.1 | $2.5 | -$0.3 | -13.4% |
| Total | $23.1 | $26.7 | -$3.6 | -13.5% |
| 9Mo17 | 9Mo16 | $ Change | % Change | |
| Spine | $68.5 | $71.8 | -$3.3 | -4.6% |
| Orthobiologics | $6.9 | $7.2 | -$0.3 | -4.5% |
| Total | $75.5 | $79.1 | -$3.6 | -4.6% |
Leadership has noted that, as ATEC rights its ship, observing sequential revenue results is the best indicator of performance. That said, 3Q17 revenue was down -5.3% vs. 2Q17, attributed to weather and the loss of two selling days in 3Q, which had a rough impact of $0.9MM to $1.0MM on the numbers.
During NASS, ATEC commenced initial launch of the Squadron Lateral Retractor—a key piece of the Battalion Lateral System, to good feedback. The third quarter also saw the award of six new patents, including three that protect ATC’s expanding lateral portfolio.
Leadership notes that ATEC is on track to exit 2017 with over 40% of U.S. commercial revenue derived from dedicated agents and distributors, up from 30% in 3Q, which was an increase from 18% in 2Q.
On the personnel side, ATEC welcomed Mr. Pat Miles as new Executive Chairman and bade goodbye to Mike Plunkett, President and COO. Mr. Miles noted that his responsibilities will include re-introducing the new Alphatec to key influential U.S. spine surgeons. Also on the board are Mr. Quentin Blackford, former NuVasive CFO, and Mr. Ward Woods, noted as a capital markets expert.
Source: Alphatec Spine, Inc.; ORTHOWORLD estimates.
Alphatec Spine (ATEC) posted 3Q17 revenue of US $23.1MM, -13.5% vs. 3Q16, and YTD revenue of $75.5MM, -4.6% vs. the prior year.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
Q17
Q16
$ Change
% Change
...
Alphatec Spine (ATEC) posted 3Q17 revenue of US $23.1MM, -13.5% vs. 3Q16, and YTD revenue of $75.5MM, -4.6% vs. the prior year.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
| 3Q17 | 3Q16 | $ Change | % Change | |
| Spine | $21.0 | $24.2 | -$3.3 | -13.5% |
| Orthobiologics | $2.1 | $2.5 | -$0.3 | -13.4% |
| Total | $23.1 | $26.7 | -$3.6 | -13.5% |
| 9Mo17 | 9Mo16 | $ Change | % Change | |
| Spine | $68.5 | $71.8 | -$3.3 | -4.6% |
| Orthobiologics | $6.9 | $7.2 | -$0.3 | -4.5% |
| Total | $75.5 | $79.1 | -$3.6 | -4.6% |
Leadership has noted that, as ATEC rights its ship, observing sequential revenue results is the best indicator of performance. That said, 3Q17 revenue was down -5.3% vs. 2Q17, attributed to weather and the loss of two selling days in 3Q, which had a rough impact of $0.9MM to $1.0MM on the numbers.
During NASS, ATEC commenced initial launch of the Squadron Lateral Retractor—a key piece of the Battalion Lateral System, to good feedback. The third quarter also saw the award of six new patents, including three that protect ATC’s expanding lateral portfolio.
Leadership notes that ATEC is on track to exit 2017 with over 40% of U.S. commercial revenue derived from dedicated agents and distributors, up from 30% in 3Q, which was an increase from 18% in 2Q.
On the personnel side, ATEC welcomed Mr. Pat Miles as new Executive Chairman and bade goodbye to Mike Plunkett, President and COO. Mr. Miles noted that his responsibilities will include re-introducing the new Alphatec to key influential U.S. spine surgeons. Also on the board are Mr. Quentin Blackford, former NuVasive CFO, and Mr. Ward Woods, noted as a capital markets expert.
Source: Alphatec Spine, Inc.; ORTHOWORLD estimates.
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
