On this page of StockholderLetter.com we present the latest annual shareholder letter from Alphatec Holdings, Inc. — ticker symbol ATEC. Reading current and past ATEC letters to shareholders can bring important insights into the investment thesis.

 •  4/26/2024 Letter Continued (Full PDF)
 •  5/2/2023 ATEC Stockholder Letter
 •  More "Medical Instruments & Supplies" Category Stockholder Letters
 •  ATEC Benford's Law Stock Score = 72

ATEC Shareholder/Stockholder Letter Transcript:

2023 ANNUAL REPORT
REVOLUTIONIZING THE APPROACH TO SPINE SURGERY

2023 HIGHLIGHTS
2023 LETTER FROM THE CHAIRMAN & CEO
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>41K $482M 37%
Patient lives impacted
Total revenue
Total revenue growth

FELLOW SHAREHOLDERS,
Execution against our mission to revolutionize spine surgery
fueled another exceptional year in 2023. Leveraging 100%
spine focus and the industry   s greatest concentration of
spine knowhow, we are improving spine procedures by
rethinking, redesigning and seamlessly integrating
technology from the ground up. The innovation that results
from that process is being rapidly adopted because spine
surgeons, like us, covet informatic and procedural
sophistication that powers more predictable, reproducible
care.
The reflection of the
clinical distinction
that we are bringing
to market drove
significant growth.
Our business is in the operating room, where we earn direct,
vital insights into clinical requirements and what is needed to
improve surgery. That curiosity has enabled ATEC to emerge
as the most ideally positioned, most capable of moving the
field of spine forward.
Good surgery is good business. The reflection of the clinical
distinction that we are bringing to market drove significant
growth in patients served and surgeon users, powering
strong financial performance.
~890 >500 27%
Points of margin expansion
Surgeons trained
Surgeon user growth
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2023 LETTER FROM THE CHAIRMAN & CEO
OUR BUSINESS IS IN
THE OPERATING ROOM
OUR PRIORITIES
Our strategic priorities remain
consistent.
The creation of
clinically distinct spine procedures
continues to compel surgeon
adopters, while facilitating our
ability to elevate and expand the
ATEC sales channel.
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1
2
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Create clinical distinction
Compel surgeon adoption
Elevate the sales channel

CLINICAL DISTINCTION
OUR LATERAL FRANCHISE
Our Organic Innovation Machine, the industry   s greatest concentration
of spine expertise, is central to the ATEC story. Inspired by direct clinical
experience in spine operating rooms, the team designs, develops, tests
and integrates technologies into procedures that are moving the science
of spine forward.
For example, in 2021, we launched the Prone TransPsoas (PTPTM)
Procedure. Architected by the pioneers of lateral surgery, PTP integrates
spine   s most advanced neuromonitoring (SafeOpTM) and a more familiar
patient position to improve the predictability and reproducibility of the
approach. This    agship ATEC procedure continues to be the most
signi   cant contributor to our growth.
The lateral
momentum that
we have created
will expand and
endure.
Late last year, we released the Lateral TransPsoas (LTPTM) and Midline ALIF procedures, which apply
learnings from our experience with PTP to cra    procedure-speci   c technologies that integrate with
SafeOp neuromonitoring. The ATEC lateral franchise now uniquely empowers single-position
surgery for the most commonly treated levels in spine and unrivaled lateral optionality.
We also advanced the sophistication of our lateral franchise with the launch of Calibrate LTXTM, an
expandable lateral implant system designed to better achieve alignment goals with precise lordosis
control and disc height restoration.
Backed by SafeOp, our formidable competitive moat, the lateral momentum that we have created,
and continue to fortify, will expand and endure. The bene   ts of lateral surgery are well-documented
and clinically demonstrated, including shorter hospital stays, quicker recoveries and reduced blood
loss. And our unequivocal commitment to continually improve the procedure is compelling
seasoned lateral surgeons and those new to lateral surgery to adopt, PRODUCT
enabling us to
not just
RELEASES
penetrate, but also expand the existing opportunity.
2018 TO 2021
WE ARE IN PURSUIT OF THE
PERFECT PROCEDURE
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* Data on file



 4/26/2024 Letter Continued (Full PDF)