Alphatec Holdings, Inc. (NASDAQ:ATEC) Q2 2024 Results Conference Call July 31, 2024 4:30 PM ET
Company Participants
Patrick Miles - Chairman and CEO
Todd Koning - CFO
Conference Call Participants
Vik Chopra - Wells Fargo
Eric Anderson - TD Cowen
Matt Blackman - Stifel
Drew Ranieri - Morgan Stanley
Aaron Wukmir - Lake Street Capital Markets
David Saxon - Needham & Co.
Jason Wittes - ROTH
Sean Lee - H.C. Wainwright
Operator
Good afternoon, everyone, and welcome to the webcast of ATEC's Second 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 adjusted measures. Reconciliations of these measures to U.S. GAAP can be found in the supplemental financial table included in today's 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.
Patrick Miles
Thanks much, Danica, and thanks everybody for your interest in engaging in the call. So, I will jump right into the Q2 2024 highlights. And I would say it's another deliberate step in fulfilling the commitment to profitable long-term sales growth. And so, finished the quarter at a total of $146 million in total revenue. The total revenue percent growth was 25%, 27% surgical revenue growth, which I expect to be best in class, 20% growth in new users, which I would say is, speaks to the expansion metrics, 15% surgical volume growth. I think that's a metric that reflects kind of the non-linear ramp as we continue to upgrade our sales force.
One that I love is the 10% growth in average surgical revenue per case that speaks to the convoyed elements of our procedural strategy and the buy into that, which is really good. We inflected to profitability with an adjusted EBITDA of $5.6 million. We had 244 surgeon training engagements fueled by our footprint expansion. So, there's a lot going on there. I think the $50 million invested is a confidence proxy for our route forward and so expanding just the footprint to support growth.