Alphatec (ATEC) 43rd Annual J.P. Morgan Healthcare Conference 2025 summary

Strategic vision and market positioning

• Achieved a turnaround with sustainable revenue growth, focusing on revolutionizing spine surgery through procedural innovation and informatics.

• Targeting a large, unsettled spine market with disruptive approaches, leveraging expertise in lateral spine procedures and addressing unmet needs in an $8B+ market.

• Built an informatic moat by integrating outcome-improving data, driving clinical distinction and compelling surgeon adoption.

• Profitable as of 2024, with expectations to generate cash flow in 2025 and maintain self-sustaining operations.

• Grown market share from 3% to 8% with a 40% CAGR through 2023 and 27% growth in 2024, aiming for continued outperformance and doubling U.S. share by 2027.

Operational efficiency and profitability

• Achieved 2,800 basis points of margin expansion in 2024, demonstrating profitability through efficient asset utilization and sales force maturity.

• For every $1 in new growth, $0.75 is invested, with improved surgical set efficiency and better internal data systems.

• 2025 guidance includes $732 million in revenue and $75 million in Adjusted EBITDA, with a focus on self-funded market share expansion.

• The company is leveraging operating efficiencies and investing in infrastructure to drive ROI and operating leverage.

• Committed to increasing profitability, self-funding growth, and maintaining ample liquidity to create shareholder value.

Clinical innovation and procedural advancements

• Focused on improving outcomes in a field with high revision rates, aiming to move from 8% to double-digit market share through clinical distinction.

• Emphasizes proceduralization and integration of informatics to drive better decision-making and predictable outcomes.

• Enhanced the lateral approach with PTP (prone transpsoas surgery), enabling direct decompression, improved alignment, and broader applicability.

• SafeOp technology provides real-time neurologic monitoring, creating a competitive moat and supporting reproducible surgical outcomes.

• Ongoing innovation includes new product launches, expanded informatics platforms, and enhanced robotics workflows planned for 2025 and beyond.