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ATEC reported 3Q25 orthopedic sales of $196.5 million, up 30.4% compared to the third quarter of 2024. For the first nine months of the year, the company generated $551.2 million, up 26.8% compared to the prior period.
In addition to its 30% total revenue growth, the company grew its surgical revenue by 31% and revenue from established territories by 30%, demonstrating durable results among repeat customers. ATEC grew its surgeon base by 26% in the third quarter, as well. Since the company started reporting new surgeon users in 2022, it added at least 19% net new surgeon users every quarter.
“I think the market has been healthy and has felt healthy,” said ATEC CFO Todd Koning. When you look at our growth and you look at our size, clearly, we’re taking share from all the major players. When I look at the demographics of that and the locations and the surgeons, I think that holds true. You don’t grow $40-plus million year-over-year without kind of touching all the competitors.”
ATEC has benefitted from the ongoing disruption and consolidation in the spine market in recent years, and that trend looks like it will continue with the eventual separation of DePuy Synthes from J&J MedTech. But there are additional growth catalysts that will push ATEC into the top tier of spine companies.
ATEC continues to build its footprint in lateral, cervical and deformity. It’s growing technology ecosystem and the impending launch of its Valence robot will further democratize spine surgery and expand the company’s pool of surgeons.
Given its success so far in 2025, the company raised its guidance to $760 million, representing 24% growth over 2024.
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 | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $159.8 | $123.7 | $36.1 | 29.2% |
| Orthobiologics | $16.7 | $12.1 | $4.6 | 38.5% |
| Enabling Technology | $20.0 | $15.0 | $5.0 | 33.3% |
| Total | $196.5 | $150.7 | $45.8 | 30.4% |
| Segment | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $450.6 | $351.5 | $99.1 | 28.2% |
| Orthobiologics | $46.7 | $36.9 | $9.7 | 26.4% |
| Enabling Technology | $54.0 | $46.4 | $7.6 | 16.5% |
| Total | $551.2 | $434.8 | $116.5 | 26.8% |
Orthopedic Sales by Geography
| Region | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $184.4 | $141.8 | $42.6 | 30% |
| OUS | $12.1 | $8.9 | $3.2 | 36.1% |
| Total | $196.5 | $150.7 | $45.8 | 30.4% |
| Region | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $518.5 | $408.1 | $110.5 | 27.1% |
| OUS | $32.7 | $26.7 | $6.0 | 22.5% |
| Total | $551.2 | $434.8 | $116.5 | 26.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $196.5 | |
| Cost of Sales | $59.2 | 30.1% |
| Selling and Admin | $124.3 | 63.3% |
| R & D | $18.7 | 9.5% |
| Other | $22.9 | 11.7% |
| Net Earnings | ($28.6) | (14.5%) |
ATEC reported 3Q25 orthopedic sales of $196.5 million, up 30.4% compared to the third quarter of 2024. For the first nine months of the year, the company generated $551.2 million, up 26.8% compared to the prior period.
In addition to its 30% total revenue growth, the company grew its surgical revenue by 31% and revenue from established...
ATEC reported 3Q25 orthopedic sales of $196.5 million, up 30.4% compared to the third quarter of 2024. For the first nine months of the year, the company generated $551.2 million, up 26.8% compared to the prior period.
In addition to its 30% total revenue growth, the company grew its surgical revenue by 31% and revenue from established territories by 30%, demonstrating durable results among repeat customers. ATEC grew its surgeon base by 26% in the third quarter, as well. Since the company started reporting new surgeon users in 2022, it added at least 19% net new surgeon users every quarter.
“I think the market has been healthy and has felt healthy,” said ATEC CFO Todd Koning. When you look at our growth and you look at our size, clearly, we’re taking share from all the major players. When I look at the demographics of that and the locations and the surgeons, I think that holds true. You don’t grow $40-plus million year-over-year without kind of touching all the competitors.”
ATEC has benefitted from the ongoing disruption and consolidation in the spine market in recent years, and that trend looks like it will continue with the eventual separation of DePuy Synthes from J&J MedTech. But there are additional growth catalysts that will push ATEC into the top tier of spine companies.
ATEC continues to build its footprint in lateral, cervical and deformity. It’s growing technology ecosystem and the impending launch of its Valence robot will further democratize spine surgery and expand the company’s pool of surgeons.
Given its success so far in 2025, the company raised its guidance to $760 million, representing 24% growth over 2024.
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 | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $159.8 | $123.7 | $36.1 | 29.2% |
| Orthobiologics | $16.7 | $12.1 | $4.6 | 38.5% |
| Enabling Technology | $20.0 | $15.0 | $5.0 | 33.3% |
| Total | $196.5 | $150.7 | $45.8 | 30.4% |
| Segment | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $450.6 | $351.5 | $99.1 | 28.2% |
| Orthobiologics | $46.7 | $36.9 | $9.7 | 26.4% |
| Enabling Technology | $54.0 | $46.4 | $7.6 | 16.5% |
| Total | $551.2 | $434.8 | $116.5 | 26.8% |
Orthopedic Sales by Geography
| Region | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $184.4 | $141.8 | $42.6 | 30% |
| OUS | $12.1 | $8.9 | $3.2 | 36.1% |
| Total | $196.5 | $150.7 | $45.8 | 30.4% |
| Region | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $518.5 | $408.1 | $110.5 | 27.1% |
| OUS | $32.7 | $26.7 | $6.0 | 22.5% |
| Total | $551.2 | $434.8 | $116.5 | 26.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $196.5 | |
| Cost of Sales | $59.2 | 30.1% |
| Selling and Admin | $124.3 | 63.3% |
| R & D | $18.7 | 9.5% |
| Other | $22.9 | 11.7% |
| Net Earnings | ($28.6) | (14.5%) |
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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.
