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Alphatec's Q3 revenue hits $23.1M: 5 things to know Featured

Written by  Laura Dyrda | Friday, 10 November 2017 15:13
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Alphatec Holdings reported $23.1 million in total revenue for the third quarter of 2017.

 

Here are five things to know:

 

1. The company reported $20 million in U.S. commercial revenue, a 5.6 percent drop from the same period last year, and an 8 percent decrease in U.S. gross profits to $14 million. The company reported $1.2 million in operating loss.

 

2. The company reports revenue in the U.S. dropped due to two fewer surgery days in the 2017 quarter, as well as weather related impacts and the decision to discontinue non-strategic relationships. The company also reported a decrease in gross margin, which was due to lower sales volume and product mix changes.

 

3. As of Sept. 30, 2017, the company reported $15.4 million in cash and cash equivalents. The company also secured a commitment for an additional equity investment of $3.5 million to $4 million, which is payable on or before Jan. 1, 2018.

 

4. The company recently appointed Patrick Miles executive chairman and expanded the board of directors to include Quentin Blackford and Ward Woods. Both Mr. Miles and Mr. Blackford previously served in executive positions at NuVasive.

 

5. Since the quarter ended, Alpahtec launched the Alphatec Squadron Lateral Retractor, a component of the Battalion Lateral System.

 

More articles on orthopedic devices:
Xtant Medical postpones Q3 2017 financial results release
Johnson & Johnson breaks ground on $180M China device plant, to open in 2019: 5 key notes
Smith & Nephew Q3 revenue jumps 3%: 5 tings to know

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