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ATEC reported 4Q21 orthopedic sales of $73.3 million, +66.8% vs. 4Q20. For the full year, the company generated $243.2 million, +67.9% vs. the prior year. Contributions came from new products and placements of the EOS system, but ATEC’s prone trans-psoas surgical approach was a primary growth driver.
The EOS system generated $30 million in revenue for 2021, but its greatest advantage for ATEC may be increased access to hospitals. Company CEO Patrick Miles said, “The implant salesforce have access to people who they haven’t had access to before. Bon Secours is a multi-hospital group that we didn’t have any access to. We sold them on EOS and now we have full access to all 24 hospitals.”
Mr. Miles is also excited about the potential to use data generated by EOS to evolve spine surgery, saying, “We believe the decade belongs to ATEC.”
More immediately, however, the company expects another year of extraordinary growth in 2022 despite expecting similar market pressures from COVID, supply chain issues and staffing shortages. ATEC provided 2022 orthopedic sales guidance of $305 million, or +25% vs. 2021. EOS will contribute approximately $45 million.
On a more granular level, the company performed roughly 26,000 cases in 2021 and expects to grow that volume in the mid-teens. The average revenue per case was $8,200 in 2021, with expected growth in the mid-single-digits.
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
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $67.2 | $40.2 | $27.0 | 67% |
| Orthobiologics | $6.2 | $3.7 | $2.4 | 64.9% |
| Total | $73.3 | $44.0 | $29.4 | 66.8% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $222.8 | $132.4 | $90.4 | 68.3% |
| Orthobiologics | $20.4 | $12.5 | $8.0 | 64.1% |
| Total | $243.2 | $144.9 | $98.4 | 67.9% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $73.1 | $43.1 | $29.9 | 69.5% |
| OUS | $0.3 | $0.8 | ($0.6) | (68.8%) |
| Total | $73.3 | $44.0 | $29.4 | 66.8% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $242.3 | $141.1 | $101.2 | 71.7% |
| OUS | $1.0 | $3.8 | ($2.8) | (74.8%) |
| Total | $243.2 | $144.9 | $98.4 | 67.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $73.3 | |
| Cost of Sales | $29.0 | 39.5% |
| Selling and Admin | $66.7 | 90.9% |
| R & D | $9.0 | 12.3% |
| Other | $8.9 | 12.1% |
| Net Earnings | ($40.2) | (54.8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
ATEC reported 4Q21 orthopedic sales of $73.3 million, +66.8% vs. 4Q20. For the full year, the company generated $243.2 million, +67.9% vs. the prior year. Contributions came from new products and placements of the EOS system, but ATEC's prone trans-psoas surgical approach was a primary growth driver.
The EOS system generated $30 million in...
ATEC reported 4Q21 orthopedic sales of $73.3 million, +66.8% vs. 4Q20. For the full year, the company generated $243.2 million, +67.9% vs. the prior year. Contributions came from new products and placements of the EOS system, but ATEC’s prone trans-psoas surgical approach was a primary growth driver.
The EOS system generated $30 million in revenue for 2021, but its greatest advantage for ATEC may be increased access to hospitals. Company CEO Patrick Miles said, “The implant salesforce have access to people who they haven’t had access to before. Bon Secours is a multi-hospital group that we didn’t have any access to. We sold them on EOS and now we have full access to all 24 hospitals.”
Mr. Miles is also excited about the potential to use data generated by EOS to evolve spine surgery, saying, “We believe the decade belongs to ATEC.”
More immediately, however, the company expects another year of extraordinary growth in 2022 despite expecting similar market pressures from COVID, supply chain issues and staffing shortages. ATEC provided 2022 orthopedic sales guidance of $305 million, or +25% vs. 2021. EOS will contribute approximately $45 million.
On a more granular level, the company performed roughly 26,000 cases in 2021 and expects to grow that volume in the mid-teens. The average revenue per case was $8,200 in 2021, with expected growth in the mid-single-digits.
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
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $67.2 | $40.2 | $27.0 | 67% |
| Orthobiologics | $6.2 | $3.7 | $2.4 | 64.9% |
| Total | $73.3 | $44.0 | $29.4 | 66.8% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $222.8 | $132.4 | $90.4 | 68.3% |
| Orthobiologics | $20.4 | $12.5 | $8.0 | 64.1% |
| Total | $243.2 | $144.9 | $98.4 | 67.9% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $73.1 | $43.1 | $29.9 | 69.5% |
| OUS | $0.3 | $0.8 | ($0.6) | (68.8%) |
| Total | $73.3 | $44.0 | $29.4 | 66.8% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $242.3 | $141.1 | $101.2 | 71.7% |
| OUS | $1.0 | $3.8 | ($2.8) | (74.8%) |
| Total | $243.2 | $144.9 | $98.4 | 67.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $73.3 | |
| Cost of Sales | $29.0 | 39.5% |
| Selling and Admin | $66.7 | 90.9% |
| R & D | $9.0 | 12.3% |
| Other | $8.9 | 12.1% |
| Net Earnings | ($40.2) | (54.8%) |
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.
