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Alphatec Holdings, Inc.

ATEC NASDAQ Categories PDF
Healthcare · Medical - Devices · United States · Updated May 11, 1:52pm
$6.95
Price
$1.1B
Market Cap
867
Employees
0.97
Beta
Patrick S. Miles
CEO
Business Description

Alphatec Holdings, Inc., a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement. It also provides Invictus Modular Fixation Systems designed to increase adaptability with the power of screw modularity; OsseoScrew system to restore the integrity of the spinal column; Arsenal spinal fixation system, a comprehensive thoracolumbar fixation platform to fix a range of degenerative to deformity pathologies and surgical procedures; Aspida Anterior Lumbar Plating System, a fixation system for anterior lumbar interbody fusion; AMP Anti-Migration Plate; OCT Spinal Fixation System; trestle luxe anterior cervical plate system; and Insignia Anterior Cervical Plate System. In addition, the company offers IdentiTi Porous Ti, Transcend Lateral, and Battalion Posterior Interbody Implants; and biologics consisting of Cervical Structural Allograft Spacers, 3D ProFuse Demineralized Bone Scaffold, Neocore Osteoconductive Matrix, Alphagraft Demineralized and Cellular Bone Matrix, and Amnioshield Amniotic Tissue Barrier, as well as EOS imaging products. It sells its products through a network of independent distributors and direct sales representatives in the United States. The company was founded in 1990 and is headquartered in Carlsbad, California.

Business History
Price Overview
Last updated: May 11, 2026 1:52pm (just now)
$6.95
-0.58 (-7.65%)
Day Range
$6.94 – $7.49
52-Week Range
$6.85 – $23.29
50-Day MA
$11.27
200-Day MA
$15.34
Volume
649,966.00
Analyst Price Targets
Low $14.00
Consensus $19.71
High $25.00
(29 analysts)
Share Structure
Outstanding 153,789,000.00
Float 121,453,566.00
Free Float 79.0%
Normal free float — 79.0% of shares trade freely, ~21% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-7.23
Stock Price: $6.95
EPS (Diluted): -0.96
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
87.63
Stock Price: $6.95
Total Equity: $36.03M
Shares: 150,064,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-1,200.01
Market Cap: $1.07B
Total Debt: $596.09M
Cash: $160.81M
EBITDA: -$39.70M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$3.6B
Market Cap: $1.07B
Total Debt: $596.09M
Cash: $160.81M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
69.6%
Gross Profit: $531.89M
Revenue: $764.16M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-10.7%
Operating Income: -$82.13M
Revenue: $764.16M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-18.8%
Net Income: -$143.36M
Revenue: $764.16M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-443.1%
Net Income: -$143.36M
Total Equity: $36.03M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-8.9%
Operating Income: -$82.13M
Tax Rate: 0.0%
Equity: $36.03M
Total Debt: $596.09M
Cash: $160.81M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.06
Current Assets: $450.88M
Current Liabilities: $219.18M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
16.54
Short-Term Debt: $70.82M
Long-Term Debt: $525.27M
Total Debt: $596.09M
Total Equity: $36.03M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$5.09
Revenue: $764.16M
Shares: 150,064,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$0.24
Total Equity: $36.03M
Shares: 150,064,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.02
Operating CF: $45.23M
CapEx: -$42.46M
Shares: 150,064,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $6.95
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$143.36M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ATEC against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $243.2M $350.9M $482.3M $611.6M $764.2M
Cost of Revenue $85.5M $117.8M $172.1M $187.3M $232.3M
Gross Profit $157.8M $233.1M $310.2M $424.3M $531.9M
Operating Expenses $285.8M $380.0M $483.6M $560.4M $614.0M
Operating Income -$128.1M -$147.0M -$173.4M -$136.2M -$82.1M
Net Income -$143.0M -$151.3M -$186.6M -$162.1M -$143.4M
EBITDA -$106.9M -$102.6M -$110.6M -$53.9M -$39.7M
EPS $-1.50 $-1.47 $-1.54 $-1.13 $-0.96
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $187.2M $84.7M $221.0M $138.8M $160.8M
Total Current Assets $331.2M $255.6M $451.1M $417.4M $450.9M
Total Assets $572.1M $521.0M $805.2M $775.7M $791.2M
Current Liabilities $101.1M $138.9M $157.6M $153.0M $219.2M
Long-Term Debt $326.5M $349.5M $511.0M $574.5M $525.3M
Total Liabilities $492.6M $555.6M $703.5M $766.3M $755.2M
Total Equity $79.4M -$34.7M $101.7M $9.4M $36.0M
Retained Earnings -$782.3M -$932.3M -$1.1B -$1.3B -$1.4B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$73.3M -$75.1M -$78.5M -$44.7M $45.2M
Capital Expenditure -$68.5M -$58.3M -$87.0M -$93.1M -$42.5M
Free Cash Flow -$141.9M -$133.4M -$165.5M -$137.8M $2.8M
Acquisitions (net) -$83.2M $0 -$55.0M $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$31.0M $0 $0 $0 $0
Net Change in Cash $79.5M -$102.6M $136.3M -$82.1M $22.0M
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $1.0B
$990.5M – $1.1B
 $1.2B
$1.2B – $1.2B
 $1.4B
$1.3B – $1.4B
 $1.5B
$1.5B – $1.6B
EBITDA $303.5M
$291.8M – $326.8M
 $347.9M
$347.2M – $348.6M
 $405.2M
$397.5M – $424.0M
 $440.8M
$432.3M – $461.2M
Net Income $85.7M
$82.1M – $89.3M
 $132.4M
$126.8M – $137.9M
 $180.1M
$175.6M – $190.9M
 $238.6M
$232.7M – $253.0M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +44.3% +37.4% +26.8% +25.0%
Gross Profit Growth +47.7% +33.1% +36.8% +25.4%
Operating Income Growth -14.8% -18.0% +21.5% +39.7%
Net Income Growth -5.8% -23.4% +13.1% +11.6%
EBITDA Growth +4.0% -7.8% +51.3% +26.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-04-07 Marshall Tyson Eliot M-Exempt 60,000.00 $2.69 $161,400
2026-04-07 Marshall Tyson Eliot F-InKind 23,393.00 $11.03 $258,025
2026-04-07 Marshall Tyson Eliot M-Exempt 12,500.00 $3.34 $41,750
2026-04-07 Marshall Tyson Eliot M-Exempt 15,000.00 $1.68 $25,200
2026-04-07 Marshall Tyson Eliot M-Exempt 15,000.00 $1.98 $29,700
2026-04-07 Marshall Tyson Eliot M-Exempt 60,000.00 $2.69 $161,400
2026-04-07 Marshall Tyson Eliot M-Exempt 15,000.00 $1.98 $29,700
2026-04-07 Marshall Tyson Eliot M-Exempt 15,000.00 $1.68 $25,200
2026-04-07 Marshall Tyson Eliot M-Exempt 12,500.00 $3.34 $41,750
2026-03-13 Koning John Todd S-Sale 79,789.00 $12.36 $986,192
2026-03-13 Lish Scott S-Sale 260,535.00 $12.30 $3.2M
2026-03-11 Sponsel David S-Sale 163,452.00 $12.52 $2.0M
2026-03-06 Hunsaker Craig E S-Sale 33,602.00 $12.22 $410,616
2026-03-09 Hunsaker Craig E S-Sale 82,765.00 $12.45 $1.0M
2026-03-09 Hunsaker Craig E G-Gift 600.00 $0.00 $0
2026-03-05 Koning John Todd F-InKind 68,910.00 $12.57 $866,199
2026-03-05 Miles Patrick F-InKind 219,749.00 $12.57 $2.8M
2026-03-05 Marshall Tyson Eliot S-Sale 88,835.00 $12.49 $1.1M
2026-02-25 Marshall Tyson Eliot A-Award 12,840.00 $0.00 $0
2026-02-25 Marshall Tyson Eliot A-Award 84,918.00 $0.00 $0
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27