Spine device company Alphatec reported $44.1 million in first-quarter revenue, an increase of 50 percent compared to the first quarter of 2020.
Four notes:
1. Net loss in the first quarter was $22.9 million, a 10.5 percent greater loss than the prior year.
2. Alphatec expects total revenue for the 2021 fiscal year to be about $190 million, representing an approximate revenue growth of 33 percent compared to 2020.
3. "Market-shaping innovation, integrated with unprecedented intraoperative information, is compelling an increasing number of surgeons and exclusive distributors to partner with [Alphatec]," Chair and CEO Pat Miles said in a May 6 news release.
4. Projected growth will be driven by launches of procedures and products and the rejuvenation of Alphatec's distribution network, the company said.