Alphatec Holdings, Inc. (NASDAQ:ATEC) Q4 2022 Results Conference Call February 28, 2023 4:30 PM ET

Company Participants

Pat Miles - Chairman and CEO

Todd Koning - CFO

Conference Call Participants

Drew Ranieri - Morgan Stanley

Brooks O’Neil - Lake Street Capital Markets

Kyle Rose - Canaccord

David Saxon - Needham & Company

Sean Lee - H.C. Wainwright

Operator

Good afternoon, everyone. And welcome to the webcast of ATEC'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-GAAP or pro forma measures. Reconciliations of non-GAAP measures to US GAAP can be found in the supplemental financial tables included in the 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.

Pat Miles

Thank you, Angela. And welcome everybody to the Q4 2022 ATEC conference call. We will be providing some forward-looking statements, so please review that at your leisure. So our momentum by revolutionizing the approach to spine surgery continues. Our finish for 2022 was $351 million. We grew 44%. Over four years, we've grown at least 25% each year and had a 40% four year CAGR. And that comes via a year where we launched 10 new products, including our first expandable implant. We expanded lateral procedural sophistication with PTP and LTP, which includes a Midline ALIF. We drove $40 million in EOS revenue, trained greater than 500 surgeons, achieved greater than 20% growth in surgeon users and increased our access to cash and liquidity to approximately $275 million. I believe much of our value creation is unlocked by our culture. So it is worthwhile describing who we are and who we're not. And I will say who we are is a winning culture focused solely on spine surgery, committed to moving the field of spine forward through informatic and procedural innovation. So who are we not? I would say we're not a division of a division. We are not a conglomerate tour, acquiring growth and disinterested in furthering technology or an implant only transaction uncommitted to the full clinical experience.