Alphatec Holdings, Inc. reported a total revenue of $611.6 million for the fiscal year ended December 31, 2024, marking a 27% increase from $482.3 million in 2023. This growth was attributed to a rise in product volume driven by an expanding surgeon user base and increased adoption of the company's technology. Despite the revenue increase, Alphatec continued to experience net losses, reporting a net loss of $162.1 million for 2024, slightly improved from a loss of $186.6 million in the previous year. The company's accumulated deficit now stands at approximately $1.3 billion.
In terms of operational developments, Alphatec has made significant strides in expanding its product portfolio and enhancing its market presence. The company launched the EOS Insight software platform in 2024, which integrates with its imaging technology to improve surgical planning and post-operative assessments. Additionally, Alphatec's surgical volume grew by 19% year-over-year, and the average revenue per surgery increased by 8%. The company also reported an 18% growth in its surgeon user base, reflecting successful engagement and training initiatives aimed at promoting its products.
Alphatec's strategic initiatives included the acquisition of Valence, a navigation-enabled robotics platform, which was completed in April 2023 for $55 million. This acquisition is expected to enhance the company's technological capabilities in spine surgery. The company has also focused on geographic expansion, with initial operations in Australia, New Zealand, and Japan, where it completed its first Lateral TransPsoas surgery in late 2024. As of December 31, 2024, Alphatec employed 867 individuals, with a significant portion dedicated to sales and marketing efforts to support its growth strategy.
The company's financial position remains robust, with cash and cash equivalents totaling $138.8 million at year-end, down from $221 million in 2023. Alphatec has access to additional liquidity through its Revolving Credit Facility and a term loan, which together provide a financial cushion for ongoing operations and strategic investments. However, the company acknowledged the potential need for additional funding in the future to support its growth initiatives and operational requirements.
Looking ahead, Alphatec aims to continue its trajectory of growth by enhancing its product offerings and expanding its market share in the U.S. spine market. The company plans to invest in research and development to drive innovation and improve surgical outcomes, while also focusing on building strong relationships with spine surgeons and healthcare providers. Despite the challenges of operating in a competitive landscape, Alphatec's commitment to clinical distinction and technological advancement positions it favorably for future success.
About Alphatec Holdings, Inc.
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