We recently published Ten companies that dominate the market; 5 at all-time highs. Alphatec Holdings, Inc. (NASDAQ:ATEC) is one of the best performing stocks on Friday.
Alphatec hit a new 52-week high on Friday as investors celebrated a strong third-quarter earnings performance along with an outlook for stronger revenue growth.
In intraday trading, Alphatec Holdings, Inc. (NASDAQ:ATEC) jumped to its highest price of $20.15 before paring gains to end the day up 16.29 percent at $18.99 each.
In an updated report, the company said it narrowed its net loss by 28 percent to $28.5 million from $39.6 million in the same period last year, while gross profit rose 33 percent to $137 million from $102.7 million year-over-year.
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“We are now generating durable, profitable revenue growth that is generating cash flow…we are uniquely positioned to set the industry standard for years to come,” said Alphatec Holdings, Inc. (NASDAQ:ATEC) Chairman and CEO Pat Miles.
For the full period to 2025, the company expects total revenue to grow 24 percent to $760 million year-over-year. The figure was higher than the previous outlook of $742 million.
Alphatec Holdings, Inc. (NASDAQ:ATEC), through its wholly owned subsidiaries, Alphatec Spine, Inc., EOS Imaging SAS and SafeOp Surgical, Inc., is a medical device company dedicated to revolutionizing the approach to spine surgery through clinical distinction.
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Disclosure: None. This article was originally published in Internal jumpsuit.