Alphatec Spine reports 1Q19 revenue of USD $24.6MM, +15.3% vs. 1Q18.
- Continued to update legacy-heavy portfolio with three new releases: the IdentiTi ACDF, the IdentiTi PLIF system and AlphaGRAFT DBM Fiber
- Received FDA clearance for SafeOP neuromonitoring system
- New products contributed 22% of U.S. revenue for the quarter
- Sales from strategic distributors comprised 84% of U.S. revenue for the quarter, up from 72% the prior year
- Compared to 1Q18, revenue per distributor increased 30% and revenue per case increased 13%
- Non-strategic international supply agreements are winding down, per leadership
Segment sales and growth on an as-reported basis ($MM):
| 1Q19 | 1Q18 | $ Chg | % Chg |
| Spine | $22.3 | $19.3 | $2.9 | 15.2% |
| Orthobiologics | $2.3 | $2.0 | $0.3 | 16.5% |
| Total | $24.6 | $21.3 | $3.3 | 15.3% |
Revenue by geographic region ($MM):
| Geographic Region | 1Q19 | 1Q18 | $ Chg | % Chg |
| US | $23.0 | $19.2 | $3.8 | 19.6% |
| Ex-US | $1.6 | $2.1 | -$0.5 | -23.8% |
| Total | $24.6 | $21.3 | $3.3 | 15.3% |
Net earnings ($MM):
| 1Q19 | Amount | % of Sales |
| Sales | $24.6 | |
| Cost of Sales | -$8.0 | 32.5% |
| Selling and Admin | -$21.0 | 85.5% |
| R & D | -$3.5 | 14.1% |
| Other | -$5.1 | 20.6% |
| Net Earnings | -$13.0 | -52.8% |
Sources: Alphatec Spine; ORTHOWORLD estimates.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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