Alphatec Holdings Q3 Prel. Sales Rise, Raises FY22 Revenue View; Stock Up

(RTTNews) - Alphatec Holdings, Inc. (ATEC), a company focused on spine surgery solutions, said in a preliminary report that it has posted a rise revenue for the third quarter, supported by a continued strong momentum in the PTP approach and procedural volume growth that has crossed 30 percent to drive an organic revenue growth of 51 percent to 53 percent.

The quarterly revenue comes in better than the Street estimates. The stock reacted positively to the result by rising about 10 percent in morning trade.

For the third quarter, the medical devices firm sees its total revenue growth by 42-43 percent to $89 million-$90 million, compared with the same period of 2021.

Analysts, on average, polled by Thomson Reuters project the company to post revenue of $81.37 million for the quarter.

The fiscal 2022, the company now expects a revenue growth of around 40 percent, higher than 34 percent previous revenue growth outlook. For the previous year, Alphatec had generated revenue of $243.2 million.

Analysts, on average, expect the healthcare company to post revenue of $325.63 million for the year.

ATEC is trading up by 9.48 percent at $9.82 per share on the NasdaqGS.