Benzinga | Jul 12, 2021 09:02AM EDT

ATEC Announces Sees Prelim. Q2 Sales $55.4M-$56.0M vs $44.82M Est.

Second quarter 2021 U.S. organic revenue expected to range from

$55.4 million to $56.0 million

Full year 2021 U.S. organic revenue growth now expected to exceed 50%

CARLSBAD, Calif., July 12, 2021 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (NASDAQ:ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today select preliminary revenue results for the second quarter ended June 30, 2021.

Select Preliminary Second Quarter 2021 Financial Results

* U.S. revenue, excluding the impact of EOS imaging, expected to range from $55.4 million to $56.0 million, which reflects growth of 92.1% to 94.2% compared to the second quarter of 2020

* Total revenue, excluding the impact of EOS imaging, expected to range from $55.8 million to $56.4 million, which reflects growth of 88.2% to 90.2% compared to the second quarter of 2020

* Total cash at June 30, 2021, of at least $74.0 million, in addition to available borrowings of $40.0 million under existing term loan

The Company expects to announce second quarter financial and operating results and provide updated full year 2021 revenue guidance inclusive of the EOS imaging acquisition after the market closes on August 3, 2021.

"Portfolio-wide momentum is driving aggressive U.S. revenue growth and gives us confidence that organic U.S. revenue growth will exceed 50% this year," said Pat Miles, Chairman and CEO. "The spine prowess we are building has clearly begun to deliver, but we are just getting started. The PTP technique is gaining momentum and can not only penetrate, but more importantly, expand the minimally invasive market for spine. Our increasingly competitive portfolio is enabling us to capture more of each procedural opportunity, and we have vast potential to continue to grow ATEC's U.S. footprint. We also just closed the EOS imaging transaction, which will bring unprecedented clinical information into the O.R. and extend our reach into EOS' high-caliber account base. ATEC is exceptionally well-positioned to continue to earn surgeon confidence and market share."

The select preliminary financial results announced today are based on the Company's current expectations and may be adjusted as a result of, among other things, completion of customary quarter-end close review procedures and further financial review.

In conjunction with the release of second quarter financial and operating results on August 3, 2021, the Company will host a live webcast at 1:30 p.m. PT / 4:30 p.m. ET. Access information follows.