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ATEC reported 1Q22 orthopedic sales of $70.9 million, +60.8% vs. 1Q21.
The company’s organic growth in the quarter was just under 40%, driven by a significant contribution from the PTP procedure which celebrated its 4,000th case. Sales of EOS imaging units contributed just over $10 million in the quarter.
ATEC’s volume grew 25% in the first quarter as it continued to increase its sales footprint. Its surgeon user base grew by 18% compared to 1Q21. EOS units are providing new access to accounts, but also critical data.
Company CEO Patrick Miles said, “Data access is important because the nemesis of spine surgery for years has been its lack of predictability. Capturing all of that data sets us up for spine’s first real predictive analytics that’s been talked about for years, but not done.”
Considering its better-than-expected performance in the first quarter, ATEC raised its 2022 guidance to $321 million, representing growth of +30% compared to 2021.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $65.2 | $40.4 | $24.8 | 61.5% |
| Orthobiologics | $5.7 | $3.8 | $2.0 | 53.2% |
| Total | $70.9 | $44.1 | $26.8 | 60.8% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $67.0 | $43.7 | $23.3 | 53.3% |
| OUS | $3.9 | $0.4 | $3.5 | 862.7% |
| Total | $70.9 | $44.1 | $26.8 | 60.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $70.9 | |
| Cost of Sales | $21.7 | 30.6% |
| Selling and Admin | $69.5 | 97.9% |
| R & D | $9.7 | 13.7% |
| Other | $11.3 | 15.9% |
| Net Earnings | ($41.2) | (58.1%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
ATEC reported 1Q22 orthopedic sales of $70.9 million, +60.8% vs. 1Q21.
The company's organic growth in the quarter was just under 40%, driven by a significant contribution from the PTP procedure which celebrated its 4,000th case. Sales of EOS imaging units contributed just over $10 million in the quarter.
ATEC's volume grew 25% in the...
ATEC reported 1Q22 orthopedic sales of $70.9 million, +60.8% vs. 1Q21.
The company’s organic growth in the quarter was just under 40%, driven by a significant contribution from the PTP procedure which celebrated its 4,000th case. Sales of EOS imaging units contributed just over $10 million in the quarter.
ATEC’s volume grew 25% in the first quarter as it continued to increase its sales footprint. Its surgeon user base grew by 18% compared to 1Q21. EOS units are providing new access to accounts, but also critical data.
Company CEO Patrick Miles said, “Data access is important because the nemesis of spine surgery for years has been its lack of predictability. Capturing all of that data sets us up for spine’s first real predictive analytics that’s been talked about for years, but not done.”
Considering its better-than-expected performance in the first quarter, ATEC raised its 2022 guidance to $321 million, representing growth of +30% compared to 2021.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $65.2 | $40.4 | $24.8 | 61.5% |
| Orthobiologics | $5.7 | $3.8 | $2.0 | 53.2% |
| Total | $70.9 | $44.1 | $26.8 | 60.8% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $67.0 | $43.7 | $23.3 | 53.3% |
| OUS | $3.9 | $0.4 | $3.5 | 862.7% |
| Total | $70.9 | $44.1 | $26.8 | 60.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $70.9 | |
| Cost of Sales | $21.7 | 30.6% |
| Selling and Admin | $69.5 | 97.9% |
| R & D | $9.7 | 13.7% |
| Other | $11.3 | 15.9% |
| Net Earnings | ($41.2) | (58.1%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
