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Product / Company Performance

Alphatec Spine Reports 1Q19 Revenue of $24.6MM, +15.3% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

 

Alphatec Spine reports 1Q19 revenue of USD $24.6MM, +15.3% vs. 1Q18.

  • Continued to update legacy-heavy portfolio with three new releases: the IdentiTi ACDF, the IdentiTi PLIF system and AlphaGRAFT DBM Fiber
  • Received FDA clearance for SafeOP neuromonitoring system
  • New products contributed 22% of U.S. revenue for the quarter
  • Sales from strategic distributors comprised 84% of U.S. revenue for the quarter, up from 72% the prior year
  • Compared to 1Q18, revenue per distributor increased 30% and revenue per case increased 13%
  • Non-strategic international supply agreements are winding down, per leadership

 

Segment sales and growth on an as-reported basis ($MM):

  1Q19 1Q18 $ Chg % Chg
Spine $22.3 $19.3 $2.9 15.2%
Orthobiologics $2.3 $2.0 $0.3 16.5%
Total $24.6 $21.3 $3.3 15.3%

Revenue by geographic region ($MM):

Geographic Region 1Q19 1Q18 $ Chg % Chg
US $23.0 $19.2 $3.8 19.6%
Ex-US $1.6 $2.1 -$0.5 -23.8%
Total $24.6 $21.3 $3.3 15.3%

Net earnings ($MM):

1Q19 Amount % of Sales
Sales $24.6  
Cost of Sales -$8.0 32.5%
Selling and Admin -$21.0 85.5%
R & D -$3.5 14.1%
Other -$5.1 20.6%
Net Earnings -$13.0 -52.8%

 

Sources: Alphatec Spine; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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