10 hours Ago By Thomson Reuters StreetEvents
In This Article: Participants Patrick Miles; Chairman of the Board, President, Chief Executive Officer; Alphatec Holdings Inc J. Todd Koning; Chief Financial Officer, Executive Vice President; Alphatec Holdings Inc Brooks O'Neill; Analyst; Lake Street Capital Markets Vic Chopra; Analyst; Wells Fargo Eric Anderson; Analyst; TD Cowen Phillip Dantoin; Analyst; Alphatec Holdings Inc Matt Miksic; Analyst; Barclays Caitlin Cronin; Analyst; Canaccord Genuity Jason Wittes; Analyst; ROTH David Saxon; Analyst; Needham Kallum Titchmarsh; Analyst; Morgan Stanley Presentation Operator Good afternoon everyone and welcome to the webcast of Alphatec's fourth quarter financial results. We would like to remind everyone that participants on the call will make forward looking statements.
These statements are based on current expectations and are subject to uncertainties that could cause actual results to differ materially. These uncertainties are detailed in documents filed regularly with the SEC. During this call you may hear the company refer to non-GAP or adjusted measures.
Reconciliations of these measures to US GAAP can be found in the supplemental financial tables included in today's press release, which identify and quantify all excluded items and provide management's view of why this information is useful to investors. Leading today's call will be ATEC's Chairman and CEO, Pat Miles; and CFO, Todd Koning. Now, I will turn the call over to Pat Miles.
Please go ahead. Patrick Miles 2024 financial results call. You will enjoy some forward-looking statements.
Read them at your leisure. First, let me address Q4 2024 financial highlights. What you're seeing is perpetuating growth leadership.
So we grew at 28% total revenue growth in Q4, which is 4x the market. So we're perpetuating that leadership. It's also nice to see the profitability coming in very strong.
So we're expanding profitability. So we finished Q4 at $21 million, which was up 1,050 basis points a year over year, which means we're cash flowing. And so we cash flowed $9 million for the first quarter really since the transformation.
And so what we're enjoying is revenue growth. profitable leadership. And so just love where we are and also love the growth profile forward.
As we've talked about since the transformation, we're in this for the long haul. And I think the growth reflection from the clinical distinction has been robust. And we love to say around here that we're 8% market shareholders with 92% to go.
But when you start to wonder, are the numbers reflective of that commitment, you have to say yes. And total revenue CAGR over a five year period has been 40%. Somebody likes what we're doing and it's created demand.
So we believe that robustness continues forward. 19% surgeon adoption on a five year CAGR. 25% procedural volume on a five year CAGR.
And 10% revenue per surgery. on a five-year kegger. So I think the foundational growth machine and the growth thesis is intact.
The beauty about the growth thesis being intact is that the investment thesis is starting to provide powerful leverage. And that was by design. And so we love seeing the type of leverage that's coming forth and us becoming a self-sustaining company.
That's been the plan for some time and clearly it's coming to fruition. And it will continue to be robust. And it's a commitment that we are absolutely forthright about it and excited about.
And so as we look at the full year of 2024, we're back to the whole profitable growth commentary. We finished a year at 612 million, which is 27% revenue growth. Of the Kich-12, the surgical revenue growth was 29%.
25% growth in established territories, is all that means is same store sales. And when you start to see the expansion of same store sales, you have to say, gosh, there's some acceptance of the clinical thesis that we're putting forth. 18% surging user growth, a $31 million adjusted EBITDA, love to see the profitability coming in.
First quarter of cash flowing since the transformation, said that, but it's worth repeating. We launched the EOS Insight software, as well as there's a record EOS order book in dollars. So there's a lot of enthusiasm with regard to what we're doing with EOS.
It makes total sense clinically. Love to be participating in the second largest market in the world, which is Japan. And so we did our first cases there and we hosted a deformity summit, which would be requisite of our commitment to the deformity space.
And so...
I would tell you I'm totally bullish on the route forward, thrilled about the year, and I'll turn it over to Todd to provide some additional color..
