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ATEC reported 3Q21 orthopedic sales of $62.9 million, +52.8% vs. 3Q20, and an eye-popping +115.3% vs. 3Q19. The company expects 2021 full-year sales of $235 million, representing growth of +62% vs. 2020.
ATEC experienced the same market dynamics as its peers, with orthopedic surgery delays hitting complex spine cases especially. However, better-than-expected sales of EOS imaging systems ($11 million in 3Q21) and a growing presence in lateral spine surgeries through the company’s PTP (prone transpsoas) approach offset the impact from COVID and staffing shortages. According to company leadership, roughly half of ATEC’s third-quarter sales growth came from lateral.
The company sees ample runway ahead to extend its growth streak. With its PTP approach taking share in lateral spine surgeries, as well as possibly converting PLIF and TLIF surgeons, the company estimates that it has a $12 billion addressable market when including EOS.
“The current momentum of PTP adoption, and its expanding applicability, validates our belief in PTP’s continued ability, to increasingly penetrate the roughly $1 billion lateral market. The familiarity of the approach, coupled with the predictable reproducible outcomes that PTP begets, can gradually convert PLIF and TLIF surgeons who haven’t yet adopted the lateral approach due to the challenges that the traditional technique presents. The conversion of PLIF and TLIF surgeries to a lateral approach will enable us to shift a significant portion of the $2 billion PLIF and TLIF market into the lateral market.” – ATEC CFO Todd Koning
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
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $57.6 | $37.7 | $19.9 | 52.9% |
| Orthobiologics | $5.3 | $3.5 | $1.8 | 51% |
| Total | $62.9 | $41.2 | $21.7 | 52.8% |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $155.0 | $92.2 | $62.8 | 68.2% |
| Orthobiologics | $14.2 | $8.7 | $5.5 | 63.2% |
| Total | $169.3 | $100.9 | $68.3 | 67.7% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $62.7 | $40.1 | $22.7 | 56.6% |
| OUS | $0.1 | $1.1 | ($1.0) | (86.9%) |
| Total | $62.9 | $41.2 | $21.7 | 52.8% |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $165.7 | $98.0 | $67.8 | 69.2% |
| OUS | $3.5 | $3.0 | $0.6 | 18.8% |
| Total | $169.3 | $100.9 | $68.3 | 67.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $62.9 | |
| Cost of Sales | $23.3 | 37% |
| Selling and Admin | $61.5 | 97.8% |
| R & D | $9.4 | 14.9% |
| Other | $3.9 | 6.1% |
| Net Earnings | ($35.1) | (55.9%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
ATEC reported 3Q21 orthopedic sales of $62.9 million, +52.8% vs. 3Q20, and an eye-popping +115.3% vs. 3Q19. The company expects 2021 full-year sales of $235 million, representing growth of +62% vs. 2020.
ATEC experienced the same market dynamics as its peers, with orthopedic surgery delays hitting complex spine cases especially. However,...
ATEC reported 3Q21 orthopedic sales of $62.9 million, +52.8% vs. 3Q20, and an eye-popping +115.3% vs. 3Q19. The company expects 2021 full-year sales of $235 million, representing growth of +62% vs. 2020.
ATEC experienced the same market dynamics as its peers, with orthopedic surgery delays hitting complex spine cases especially. However, better-than-expected sales of EOS imaging systems ($11 million in 3Q21) and a growing presence in lateral spine surgeries through the company’s PTP (prone transpsoas) approach offset the impact from COVID and staffing shortages. According to company leadership, roughly half of ATEC’s third-quarter sales growth came from lateral.
The company sees ample runway ahead to extend its growth streak. With its PTP approach taking share in lateral spine surgeries, as well as possibly converting PLIF and TLIF surgeons, the company estimates that it has a $12 billion addressable market when including EOS.
“The current momentum of PTP adoption, and its expanding applicability, validates our belief in PTP’s continued ability, to increasingly penetrate the roughly $1 billion lateral market. The familiarity of the approach, coupled with the predictable reproducible outcomes that PTP begets, can gradually convert PLIF and TLIF surgeons who haven’t yet adopted the lateral approach due to the challenges that the traditional technique presents. The conversion of PLIF and TLIF surgeries to a lateral approach will enable us to shift a significant portion of the $2 billion PLIF and TLIF market into the lateral market.” – ATEC CFO Todd Koning
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
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $57.6 | $37.7 | $19.9 | 52.9% |
| Orthobiologics | $5.3 | $3.5 | $1.8 | 51% |
| Total | $62.9 | $41.2 | $21.7 | 52.8% |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $155.0 | $92.2 | $62.8 | 68.2% |
| Orthobiologics | $14.2 | $8.7 | $5.5 | 63.2% |
| Total | $169.3 | $100.9 | $68.3 | 67.7% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $62.7 | $40.1 | $22.7 | 56.6% |
| OUS | $0.1 | $1.1 | ($1.0) | (86.9%) |
| Total | $62.9 | $41.2 | $21.7 | 52.8% |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $165.7 | $98.0 | $67.8 | 69.2% |
| OUS | $3.5 | $3.0 | $0.6 | 18.8% |
| Total | $169.3 | $100.9 | $68.3 | 67.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $62.9 | |
| Cost of Sales | $23.3 | 37% |
| Selling and Admin | $61.5 | 97.8% |
| R & D | $9.4 | 14.9% |
| Other | $3.9 | 6.1% |
| Net Earnings | ($35.1) | (55.9%) |
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.
