ATEC
Alphatec Holdings, Inc.19.76
+0.05+0.25%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms; adds seasonality details.
Q&A largely reaffirmed prepared remarks, with management confirming Q4 EBITDA beat consensus by 10% and the raised 2026 outlook of $890M revenue and $134M adjusted EBITDA drew no surprises despite post-earnings stock dip. Todd Koning outlined 2026 revenue cadence mirroring 2025—Q1 at 22.1%, Q2 24.5%, Q3 25.5%—quantifying the deformity-driven seasonality shift hinted earlier. Patrick Miles touted sales hiring as 'exactly as expected,' with Alphatec the preferred spine destination. They're hiring like clockwork. No hedges or new risks surfaced. Investors will track quarterly ramps and sales ramp-up.
Key Stats
Market Cap
2.94BP/E (TTM)
-Basic EPS (TTM)
-1.04Dividend Yield
0%Recent Filings
8-K
Director Woods retires
8-K
Revenue up 25% to $764M
Alphatec Holdings crushed 2025 with revenue surging 25% to $764 million, non-GAAP adjusted EBITDA hitting $93 million at 12% margin, and first full-year positive free cash flow of $3 million. Q4 surgical revenue jumped 21% to $190 million amid 20% net new surgeon growth. Guides 2026 revenue to ~$890 million, EBITDA to $134 million; Valence platform now cleared. Cash ends at $161 million.
10-K
FY2025 results
Alphatec Holdings crushed FY2025 with $764.2M revenue, up 25% y/y from $611.6M, fueled by 22% surgical volume growth and 4% higher revenue per surgery as surgeon adoption surged 20%. Q4 momentum stayed strong, mirroring annual trends amid portfolio expansion and PTP/LTP uptake, while cost of sales rose just 24% to keep gross margins steady. Cash hit $160.8M with $45M operating cash flow; debt includes $200M term loan and $405M 2030 notes. Surgeons love it. But litigation costs spiked, and competition from Medtronic et al. looms large.
8-K
2025 revenue up 25% to $764M
Alphatec pre-announced blockbuster 2025 results: total revenue hit ~$764M, up 25% on 26% surgical growth and 24% volume surge, with adjusted EBITDA reaffirmed at $91M and cash at $161M. They grabbed exclusive U.S. rights to Theradaptive's OsteoAdapt rhBMP-2 biologic, still in Phase II trials. 2026 outlook targets $890M revenue, $130M adjusted EBITDA. Numbers preliminary, subject to audit tweaks.
8-K
Board member Rydin passes
Alphatec Holdings announced the passing of board member Jeffrey P. Rydin on November 3, 2025, after a lengthy illness. Rydin, with nearly three decades in medical devices, shaped ATEC's sales channel since 2016 and served on the board from June 2017. He drove the early turnaround. No replacement named yet.
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