Alphatec reported revenue increased around 30 percent over the past year in a preliminary earnings report.
Five things to know:
1. Full year 2019 revenue hit $113.1 million to $113.5 million, according to the unaudited results. The company reported U.S. revenue up 29 percent to 30 percent year over year, hitting around $108 million.
2. Fourth quarter total revenue was $32 million to $32.4 million. U.S. revenue was $30.9 million to $31.2 million, a 34 percent to 36 percent increase over the same period last year.
3. In 2020, Alphatec expects total revenue to hit $130 million to $134 million, which would be a 19 percent to 21 percent growth.
4. Alphatec plans to have eight to 10 new product launches this year, which will drive revenue. "We continue to experience increased demand that outpaces revenue reductions from our intentional transaction of the legacy ATEC sales force to a strategic network," said Chairman and CEO Pat Miles. "Our focus is on the future and the continued reflection of spine's Organic Innovation Machine."
5. Alphatec expects to announce the final full year results on March 5.