Alphatec (NSDQ:ATEC) posted fourth-quarter results that beat the revenue consensus on Wall Street but missed on earnings.
The Carlsbad, Calif.-based company reported losses of -$26.8 million, or -35¢ per share, on sales of $43.9 million for the three months ended Dec. 31, 2020, for a sales growth of 35.9% compared with Q4 2019.
Earnings per share were -35¢, 15¢ behind The Street, where analysts were looking for sales of $43.88 million and -20¢ per share.
“It’s no accident that ATEC has averaged nearly 30% revenue growth over the past eight quarters,” CEO Pat Miles said in a news release. “We are committed to the intentional, methodical task of compelling surgeon adoption through clinical distinction and to evolving our increasingly exclusive sales footprint. We will continue expanding market share by remaining focused on the priorities that got us here. I am confident that the clinical prowess and relentless determination of our team, coupled with our expanding information-based technology platform, will allow us to continue to lead the industry in advancing spine surgery.”
Alphatec reported that it expects total revenue for the fiscal year 2021 to be approximately $178 million, which is an approximate 25% growth compared to 2020.
Shares in ATEC were at a standstill in pre-market trading at $15.92 apiece.