Alphatec relayed its 2018 first quarter financial results as well as major company events.
Here are 11 observations.
1. The company reported total net revenue of $21.3 million in the first quarter.
2. U.S. commercial revenue hit $19.2 million in the first quarter of 2018, compared to $20.9 million in the same period the year prior. Alphatec reported U.S. commercial gross margin of 70 percent.
3. The company's total operating expenses for the first quarter of 2018 were $14.2 million, compared to $18.9 million in the first quarter of 2017.
4. Operating loss was $700,000 in the first quarter of 2018, compared to $3.6 million in the same period the year prior.
5. At March 31, Alphatec's cash balance was $47.6 million.
6. The operating cash burn was $2.5 million.
7. Alphatec reiterated revenue guidance of about $95 million for the full-year 2018.
8. In the first quarter, Alphatec acquired SafeOp Surgical for its advanced automated neuromonitoring technology.
9. Alphatec boosted its quality revenue from dedicated distribution partners and agents to about 50 percent of U.S. commercial revenue.
10. For the fifth year in a row, the company expanded its number of surgeon visits to headquarters.
11. Kelli Howell became the executive vice president of clinical strategies.