The significant revenue growth, margin expansion, and transition to positive free cash flow suggest strong execution and market adoption. The raised guidance indicates confidence in continued momentum, making this a potentially attractive opportunity for investors focused on medical device companies with improving fundamentals.
Price Chart
Executive Summary
Alphatec Holdings reported strong 2025 financial results with full-year revenue growing 25% to $764 million and non-GAAP net income of $8 million. The company raised its 2026 guidance, now expecting approximately $890 million in revenue and $134 million in adjusted EBITDA, reflecting continued operating leverage and a pivotal transition to positive free cash flow.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue grew 25% to $764 million
- Non-GAAP net income was $8 million for 2025
- Company achieved positive free cash flow of $3 million for the full year
- 2026 revenue guidance increased to approximately $890 million (17% growth)
- 2026 adjusted EBITDA guidance raised to $134 million (15% margin)
- Company expects to generate at least $20 million of free cash flow in 2026
Financial Impact
Revenue growth of 25% in 2025, with 17% growth expected in 2026. Adjusted EBITDA margin expanded from 12% to 15% in guidance.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Surgical | $764.0M | +21.0% |
| EOS | — | — |
Risk Factors
- GAAP net loss of $143 million indicates ongoing profitability challenges on a reported basis
- Guidance is forward-looking and subject to risks mentioned in the filing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-067062 |
| Document: atec-20260224.htm | 0001193125-26-067062 |
| Document: 0001193125-26-067062-index-headers.html | 0001193125-26-067062 |
| Document: 0001193125-26-067062-index.html | 0001193125-26-067062 |
| Document: 0001193125-26-067062.txt | 0001193125-26-067062 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 6w ago | Insider Buy | $10.58 | awaiting T+60 | — | $10.85 (+2.50%) |
Aug 4, 2026 11w ago | Institutional Cluster | $10.35 | awaiting T+60 | — | $10.85 (+4.78%) |
Jun 11, 2026 19w ago | 144 | $8.13 $9.45 | ▲ +16.24% | ▲ +11.84% | $10.85 (+33.39%) |
Jun 11, 2026 19w ago | Institutional Cluster | $8.13 $9.45 | ▲ +16.24% | ▲ +11.84% | $10.85 (+33.39%) |
Mar 11, 2026 32w ago | Insider Cluster | $12.66 $7.68 | ▲ +39.34% | ▲ +50.86% | $10.85 (+14.34%) |
Mar 5, 2026 33w ago | Insider Cluster | $12.57 $7.48 | ▲ +40.49% | ▲ +51.79% | $10.85 (+13.72%) |
Feb 24, 2026 34w ago | 8-K | $14.04 $8.24 | ▼ −41.31% | ▼ −48.26% | $10.85 (−22.76%) |
US Market Status
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