Alphatec posted a second quarter total net revenue of $27.3 million, a 28 percent increase for the same period last year.
Six things to know:
1. Total operating expenses rose 32.6 percent to $29.3 million and net loss increased 75.8 percent to $12.4 million when compared with the same period last year.
2. The company experienced a 28 percent increase in average daily sales, which is its highest quarterly U.S. revenue growth for 10 years, according to Chairman and CEO Pat Miles.
3. Alphatec's sequential growth was 14 percent from the first quarter to the second quarter of this year. This is the third successive quarter of double-digit growth.
4. Alphatec commercially launched four devices in the second quarter. Seven of 12 planned device launches have occurred so far this year.
5. Revenue from domestic devices for the second quarter increased by 28 percent to $26.1 million, compared to the same period last year.
6. Alphatec is committed to continuing its high device launch numbers with eight to 10 planned each year, according to Mr. Miles.