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ATEC reported 4Q22 orthopedic sales of $105.9 million, +43.2% compared to 4Q21. For the full year, the company generated $350.9 million in orthopedic sales, reflecting growth of 44.3%.
The company’s scorecard is full of impressive wins for 2022. ATEC launched 10 new products during the year, including its first expandable implant. In addition to training 500 surgeons, the company increased its surgeon user base by more than 20%. Products used per case climbed to 2.3 in 4Q22.
ATEC’s commitment to spine surgery is a key driver for its growth. Company CEO Pat Miles said, “We are a winning culture focused solely on spine surgery. We’re not a division of a division. We are not a conglomerate, acquiring growth, or an implant-only transaction uncommitted to the full clinical experience.”
Actionable data gained from EOS is a game-changer, according to ATEC leadership. The company is developing new features for the system, including automated measurements, preoperative planning, and patient-specific rod bending.
Despite its impressive growth, ATEC is still a single-digit market share player with plenty of runway. The company expects 2023 orthopedic sales of $438 million, representing growth of +25%.
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
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $81.2 | $54.9 | $26.2 | 47.7% |
| Orthobiologics | $10.1 | $6.2 | $3.9 | 62% |
| Enabling Technology | $14.7 | $12.8 | $1.9 | 14.8% |
| Total | $105.9 | $74.0 | $32.0 | 43.2% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $270.9 | $192.8 | $78.1 | 40.5% |
| Orthobiologics | $32.0 | $20.4 | $11.5 | 56.5% |
| Enabling Technology | $48.0 | $30.0 | $18.0 | 60% |
| Total | $350.9 | $243.2 | $107.7 | 44.3% |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $105.9 | $76.5 | $29.4 | 38.5% |
| OUS | $0.0 | ($2.6) | $2.6 | (100%) |
| Total | $105.9 | $74.0 | $32.0 | 43.2% |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $340.7 | $242.3 | $98.4 | 40.6% |
| OUS | $10.2 | $1.0 | $9.2 | 965.6% |
| Total | $350.9 | $243.2 | $107.7 | 44.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $105.9 | |
| Cost of Sales | $37.1 | 35% |
| Selling and Admin | $81.9 | 77.3% |
| R & D | $11.6 | 11% |
| Other | $10.3 | 9.7% |
| Net Earnings | ($35.0) | (33%) |
ATEC reported 4Q22 orthopedic sales of $105.9 million, +43.2% compared to 4Q21. For the full year, the company generated $350.9 million in orthopedic sales, reflecting growth of 44.3%.
The company's scorecard is full of impressive wins for 2022. ATEC launched 10 new products during the year, including its first expandable implant. In...
ATEC reported 4Q22 orthopedic sales of $105.9 million, +43.2% compared to 4Q21. For the full year, the company generated $350.9 million in orthopedic sales, reflecting growth of 44.3%.
The company’s scorecard is full of impressive wins for 2022. ATEC launched 10 new products during the year, including its first expandable implant. In addition to training 500 surgeons, the company increased its surgeon user base by more than 20%. Products used per case climbed to 2.3 in 4Q22.
ATEC’s commitment to spine surgery is a key driver for its growth. Company CEO Pat Miles said, “We are a winning culture focused solely on spine surgery. We’re not a division of a division. We are not a conglomerate, acquiring growth, or an implant-only transaction uncommitted to the full clinical experience.”
Actionable data gained from EOS is a game-changer, according to ATEC leadership. The company is developing new features for the system, including automated measurements, preoperative planning, and patient-specific rod bending.
Despite its impressive growth, ATEC is still a single-digit market share player with plenty of runway. The company expects 2023 orthopedic sales of $438 million, representing growth of +25%.
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
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $81.2 | $54.9 | $26.2 | 47.7% |
| Orthobiologics | $10.1 | $6.2 | $3.9 | 62% |
| Enabling Technology | $14.7 | $12.8 | $1.9 | 14.8% |
| Total | $105.9 | $74.0 | $32.0 | 43.2% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $270.9 | $192.8 | $78.1 | 40.5% |
| Orthobiologics | $32.0 | $20.4 | $11.5 | 56.5% |
| Enabling Technology | $48.0 | $30.0 | $18.0 | 60% |
| Total | $350.9 | $243.2 | $107.7 | 44.3% |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $105.9 | $76.5 | $29.4 | 38.5% |
| OUS | $0.0 | ($2.6) | $2.6 | (100%) |
| Total | $105.9 | $74.0 | $32.0 | 43.2% |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $340.7 | $242.3 | $98.4 | 40.6% |
| OUS | $10.2 | $1.0 | $9.2 | 965.6% |
| Total | $350.9 | $243.2 | $107.7 | 44.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $105.9 | |
| Cost of Sales | $37.1 | 35% |
| Selling and Admin | $81.9 | 77.3% |
| R & D | $11.6 | 11% |
| Other | $10.3 | 9.7% |
| Net Earnings | ($35.0) | (33%) |
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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.
