Unknown Analyst

Bank of America, really happy to introduce ATEC Spine. For our next presentation, we have CFO, Todd Koning.

J. Koning
Executive VP & CFO

Thanks, Adrian. Appreciate you guys having me, and thanks for coming. I'm Todd Koning, CFO here at ATEC. And I think there will probably be some forward-looking statements. So be aware. We'll talk about our growth algorithm, our -- how we continue to grow and some of the catalysts that we have in the business.

We clearly demonstrated the ability to leverage the growth that we've seen in the business implied in the way we've built the business, and we'll talk a bit about that, and we have the opportunity to strengthen our balance sheet as well.

But first, I want to talk about the overall market opportunity. And we sized the market to be about $10 billion in total. And given our size, we're just slightly under 10% penetrated. We think there is so much opportunity for us to continue to grow at outsized rates above the market growth.

The overall market, we feel is healthy, kind of a low to mid-single-digit growth rate, which really in the context of maybe the last 5 or 6 years seems to be like in recovery mode and feels good from our standpoint. When you look at that market in the terms of the $10 billion, I think what has been really the focus of the company for a fair amount of time has been the lateral market.

And we sized the lateral surgery market to be about $1 billion. We think it's one of the faster-growing segments of the