Alphatec Spine Financials

$24.4 M

Revenue Q2, 2017

$54.1 M

Mkt cap, 25-Apr-2018
Gross profit (Q2, 2017)15.7 M
Gross profit margin (Q2, 2017), %64.6%
Net income (Q2, 2017)(2.7 M)
EBIT (Q2, 2017)(735 K)
Cash, 30-Jun-201719.1 M
EV37.3 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

204.7 m207 m185.3 m120.2 m

Revenue growth, %

1%(10%)(35%)

Cost of goods sold

78.7 m61.8 m63.7 m44.1 m

Gross profit

126.1 m145.1 m121.5 m76.1 m

Gross profit Margin, %

62%70%66%63%

Sales and marketing expense

51 m

R&D expense

9.2 m

General and administrative expense

26.3 m

Operating expense total

86.5 m

EBIT

(73.4 m)1.8 m(172.4 m)(15.4 m)

EBIT margin, %

(36%)1%(93%)(13%)

Interest expense

4 m13.6 m12.6 m5.4 m

Interest income

6 k10 k53 k3 k

Pre tax profit

(178 m)

Income tax expense

3.2 m1.1 m681 k(4.6 m)

Net Income

(82.2 m)(12.9 m)(178.7 m)(29.9 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

50.2 m49.2 m53.2 m51 m48.6 m46.6 m43 m44.8 m43.8 m26.7 m28 m24.4 m

Cost of goods sold

25.5 m15.4 m16.6 m14.3 m15.3 m18.7 m14.2 m13.5 m15.5 m10.8 m11.2 m8.6 m

Gross profit

24.7 m33.7 m36.6 m36.7 m33.3 m27.9 m28.8 m31.2 m28.3 m15.9 m16.8 m15.7 m

Gross profit Margin, %

49%69%69%72%68%60%67%70%65%59%60%65%

Sales and marketing expense

18.1 m18.1 m19.8 m18.6 m18.2 m16.6 m17.1 m19.1 m18.1 m11.8 m11.1 m10.3 m

R&D expense

3 m4.2 m4.5 m4.4 m3.9 m3.9 m1.9 m3.7 m2.1 m1.1 m1.4 m990 k

General and administrative expense

11.4 m14.2 m9.2 m10.2 m9.1 m9.2 m8.1 m10.6 m8.3 m4.1 m6.2 m5.4 m

Operating expense total

37.4 m38 m34.3 m34.6 m31.8 m30.4 m193.4 m34.6 m29.1 m20.4 m20.2 m16.5 m

EBIT

(13.2 m)(4.7 m)1.8 m1.7 m1.1 m(2.8 m)(164.9 m)(3.7 m)(1.2 m)(4.5 m)(3.4 m)(735 k)

EBIT margin, %

(26%)(10%)3%3%2%(6%)(384%)(8%)(3%)(17%)(12%)(3%)

Interest expense

1 m1.7 m3.7 m3.9 m3.4 m3 m3.1 m3.4 m3.7 m1.1 m2 m1.9 m

Interest income

2 k3 k3 k2 k7 k12 k18 k20 k16 k

Income tax expense

500 k669 k307 k(28 k)902 k253 k(1.7 m)586 k600 k(5 m)49 k15 k

Net Income

(14.5 m)(6.7 m)(2.9 m)(3 m)(4.6 m)(3.9 m)(160.3 m)(6.6 m)(5.2 m)(13.7 m)(5.5 m)(2.7 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

21.3 m19.7 m11.2 m19.6 m

Accounts Receivable

41.4 m40.4 m38.3 m18.5 m

Inventories

7.7 m5.5 m5.1 m30.1 m

Current Assets

113.7 m113.1 m101.9 m72.8 m

PP&E

28 m26 m21.9 m15.1 m

Goodwill

183 m171.3 m

Total Assets

365.6 m344.9 m146.7 m94.2 m

Accounts Payable

10.8 m10.1 m14.2 m8.7 m

Short-term debt

4.9 m8.1 m80.1 m3.1 m

Current Liabilities

79.7 m63.6 m125.4 m40.1 m

Long-term debt

Total Debt

3.1 m

Additional Paid-in Capital

403.6 m413.9 m416.9 m419.8 m

Retained Earnings

(235.7 m)(248.6 m)(427.2 m)(457.2 m)

Debt to Assets Ratio

0 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

18.7 m23.8 m19 m20.2 m11.4 m8.9 m10.5 m7.8 m9.3 m25.6 m25.5 m19.1 m

Accounts Receivable

41.7 m38.8 m44.7 m40.1 m38.9 m38.9 m36.3 m39.4 m36.5 m16.5 m14.2 m13.1 m

Inventories

43.1 m42.5 m42.4 m42 m41.8 m41.2 m42.3 m48 m44.1 m27.7 m30.1 m29.8 m

Current Assets

112.5 m135.5 m117.4 m112.7 m102.5 m100.1 m100.3 m100.3 m93.7 m75.6 m72.4 m64.2 m

PP&E

29.5 m28.1 m27.4 m26.5 m25.9 m23.8 m23.7 m22.7 m21.6 m13.7 m15.4 m14.5 m

Goodwill

181.4 m183.1 m182.3 m175.1 m161.7 m163.8 m

Total Assets

366.1 m386.3 m364.7 m348.6 m320.1 m314.2 m148.4 m145.4 m136.5 m96 m93.6 m84.2 m

Accounts Payable

14.2 m16.5 m14 m11.3 m8.9 m10.4 m10.8 m19.3 m17.4 m6.8 m4.2 m2.9 m

Short-term debt

5 m4.2 m5.9 m8 m7.3 m6.8 m59 m78.1 m75.4 m2.6 m2.6 m2.3 m

Current Liabilities

56.4 m94.4 m69.8 m66.2 m56.7 m53.3 m98.6 m129.6 m125.2 m42.4 m33.3 m29.6 m

Total Debt

5 m4.2 m5.9 m8 m7.3 m6.8 m59 m78.1 m75.4 m2.6 m2.6 m2.3 m

Additional Paid-in Capital

402.3 m404.5 m411 m412.6 m415.2 m416.7 m416.6 m417 m417.4 m418.9 m437.5 m438 m

Retained Earnings

(175.3 m)(242.4 m)(245.3 m)(248.3 m)(253.1 m)(257.1 m)(417.3 m)(433.9 m)(439.1 m)(452.8 m)(462.7 m)(465.4 m)

Total Equity

229 m133.6 m

Financial Leverage

1.6 x2.4 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(82.2 m)(12.9 m)(178.7 m)(29.9 m)

Depreciation and Amortization

26.3 m18.4 m19 m934 k

Accounts Receivable

(1.9 m)(1 m)1.2 m8 m

Inventories

(4.4 m)(4.3 m)(5.5 m)(5.7 m)

Accounts Payable

(3.9 m)(1 m)3.2 m(4.9 m)

Cash From Operating Activities

7.8 m(20.3 m)10.1 m(10 m)

Purchases of PP&E

(14.4 m)(11.3 m)(12.2 m)(8.9 m)

Cash From Investing Activities

(19.1 m)(11 m)(12.2 m)62 m

Short-term Borrowings

(2.7 m)(5.8 m)(8.2 m)(54.4 m)

Cash From Financing Activities

10.7 m30.7 m(6.5 m)(43.4 m)

Interest Paid

4 m5.9 m7.6 m7.4 m

Income Taxes Paid

1.8 m565 k621 k920 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(14.5 m)(6.7 m)(2.9 m)(3 m)(4.6 m)(3.9 m)(160.3 m)(6.6 m)(5.2 m)(13.7 m)(5.5 m)

Depreciation and Amortization

172 k

Accounts Receivable

44.7 m40.1 m38.9 m38.9 m36.3 m39.4 m36.5 m16.5 m14.2 m

Accounts Payable

14 m11.3 m8.9 m10.4 m10.8 m19.3 m17.4 m6.8 m4.2 m

Ratios

USDY, 2017

EV/EBIT

-50.7 x
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