$ATEC
Alphatec Holdings, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020024330 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $30.12M $24.56M
YoY Change 22.64% 15.24%
Cost Of Revenue $9.084M $7.987M
YoY Change 13.73% 24.76%
Gross Profit $21.03M $16.57M
YoY Change 26.94% 11.16%
Gross Profit Margin 69.84% 67.47%
Selling, General & Admin $28.00M $21.00M
YoY Change 33.35% 21.69%
% of Gross Profit 133.15% 126.75%
Research & Development $3.749M $3.469M
YoY Change 8.07% 94.23%
% of Gross Profit 17.83% 20.94%
Depreciation & Amortization $2.454M $1.785M
YoY Change 37.48% -5.36%
% of Gross Profit 11.67% 10.77%
Operating Expenses $38.84M $27.33M
YoY Change 42.09% 75.53%
Operating Profit -$17.81M -$10.77M
YoY Change 65.41% 1514.09%
Interest Expense $2.874M -$2.120M
YoY Change -235.57% 24.19%
% of Operating Profit
Other Income/Expense, Net -$2.874M -$2.119M
YoY Change 35.63% 28.81%
Pretax Income -$20.68M -$12.89M
YoY Change 60.5% 457.31%
Income Tax $40.00K $31.00K
% Of Pretax Income
Net Earnings -$20.72M -$12.97M
YoY Change 59.79% 576.83%
Net Earnings / Revenue -68.81% -52.81%
Basic Earnings Per Share
Diluted Earnings Per Share -$331.1K -$288.1K
COMMON SHARES
Basic Shares Outstanding 62.99M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.50M $16.40M
YoY Change 67.68% -65.55%
Cash & Equivalents $27.47M $16.42M
Short-Term Investments
Other Short-Term Assets $11.00M $2.400M
YoY Change 358.33% 4.35%
Inventory $37.90M $31.17M
Prepaid Expenses
Receivables $15.40M $13.76M
Other Receivables $0.00 $0.00
Total Short-Term Assets $91.71M $63.75M
YoY Change 43.86% -29.71%
LONG-TERM ASSETS
Property, Plant & Equipment $20.92M $12.82M
YoY Change 63.16% 11.49%
Goodwill $13.90M $13.90M
YoY Change 0.0%
Intangibles $25.17M $26.23M
YoY Change -4.05%
Long-Term Investments
YoY Change
Other Assets $493.0K $277.0K
YoY Change 77.98% 38.5%
Total Long-Term Assets $62.13M $55.67M
YoY Change 11.6% 5.83%
TOTAL ASSETS
Total Short-Term Assets $91.71M $63.75M
Total Long-Term Assets $62.13M $55.67M
Total Assets $153.8M $119.4M
YoY Change 28.83% -16.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.80M $6.780M
YoY Change 74.04% 78.42%
Accrued Expenses $23.77M $18.53M
YoY Change 28.31% -20.82%
Deferred Revenue
YoY Change
Short-Term Debt $900.0K $0.00
YoY Change
Long-Term Debt Due $916.0K $619.0K
YoY Change 47.98% -91.03%
Total Short-Term Liabilities $38.20M $27.63M
YoY Change 38.27% -19.92%
LONG-TERM LIABILITIES
Long-Term Debt $53.00M $42.56M
YoY Change 24.53% 22.65%
Other Long-Term Liabilities $11.50M $14.60M
YoY Change -21.23% -23.16%
Total Long-Term Liabilities $64.50M $57.16M
YoY Change 12.84% 6.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.20M $27.63M
Total Long-Term Liabilities $64.50M $57.16M
Total Liabilities $102.8M $84.79M
YoY Change 21.25% -3.87%
SHAREHOLDERS EQUITY
Retained Earnings -$514.9M
YoY Change
Common Stock $4.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $97.00K
YoY Change
Treasury Stock Shares $2.000K $2.000K
Shareholders Equity $27.43M $9.250M
YoY Change
Total Liabilities & Shareholders Equity $153.8M $119.4M
YoY Change 28.79% -16.67%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$20.72M -$12.97M
YoY Change 59.79% 576.83%
Depreciation, Depletion And Amortization $2.454M $1.785M
YoY Change 37.48% -5.36%
Cash From Operating Activities -$17.05M -$7.944M
YoY Change 114.6% 49.89%
INVESTING ACTIVITIES
Capital Expenditures $2.629M $1.068M
YoY Change 146.16% 160.49%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.629M -$1.068M
YoY Change 146.16% -92.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $833.0K $14.00K
YoY Change 5850.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -39.00K -3.702M
YoY Change -98.95% -108.3%
NET CHANGE
Cash From Operating Activities -17.05M -7.944M
Cash From Investing Activities -2.629M -1.068M
Cash From Financing Activities -39.00K -3.702M
Net Change In Cash -19.65M -12.64M
YoY Change 55.5% -150.14%
FREE CASH FLOW
Cash From Operating Activities -$17.05M -$7.944M
Capital Expenditures $2.629M $1.068M
Free Cash Flow -$19.68M -$9.012M
YoY Change 118.34% 57.83%

Facts In Submission

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AccruedIncomeTaxesPayableReceviableCurrent
103000
CY2019Q4 atec Accrued Income Taxes Payable Receviable Current
AccruedIncomeTaxesPayableReceviableCurrent
82000
CY2020Q1 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
170000
CY2019Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
155000
CY2020Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3186000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2576000
CY2020Q1 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
9865000
CY2019Q4 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
10712000
CY2020Q1 atec Line Of Credit Exit Fee Noncurrent
LineOfCreditExitFeeNoncurrent
600000
CY2019Q4 atec Line Of Credit Exit Fee Noncurrent
LineOfCreditExitFeeNoncurrent
600000
CY2020Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
371000
CY2019Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
373000
CY2020Q1 atec Long Term Liabilities Other
LongTermLiabilitiesOther
135000
CY2019Q4 atec Long Term Liabilities Other
LongTermLiabilitiesOther
266000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
885000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4483000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
19607000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
35820000
CY2020Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
6938000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1114000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
916000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
39000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2069000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
154000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1915000
CY2020Q1 atec Lessee Operating Lease Remaining Term Of Contract
LesseeOperatingLeaseRemainingTermOfContract
P1Y4M24D
CY2019Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
300000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
300000
CY2020Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2020Q1 us-gaap Litigation Reserve
LitigationReserve
14265000
CY2019Q4 us-gaap Litigation Reserve
LitigationReserve
15112000
CY2020Q1 atec Litigation Settlement Obligation Future Interest Amount
LitigationSettlementObligationFutureInterestAmount
1868000
CY2019Q4 atec Litigation Settlement Obligation Future Interest Amount
LitigationSettlementObligationFutureInterestAmount
2121000
CY2020Q1 atec Litigation Settlement Obligation Gross
LitigationSettlementObligationGross
16133000
CY2019Q4 atec Litigation Settlement Obligation Gross
LitigationSettlementObligationGross
17233000
CY2020Q1 atec Related Party Receivable Included In Stockholders Equity
RelatedPartyReceivableIncludedInStockholdersEquity
5000000
CY2019Q4 atec Related Party Receivable Included In Stockholders Equity
RelatedPartyReceivableIncludedInStockholdersEquity
5000000
CY2020Q1 atec Litigation Settlement Obligation Net
LitigationSettlementObligationNet
11133000
CY2019Q4 atec Litigation Settlement Obligation Net
LitigationSettlementObligationNet
12233000
CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
62732000
CY2019Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
45310000
CY2020Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
164000
CY2019Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
290000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35121000
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30897000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3568000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1612000
CY2020Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
40633000
CY2020Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
24324839
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2500000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
24000
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
7000
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
17000

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