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ATEC · NASDAQ · Medical - Devices

Alphatec

Builds spine-focused surgical implants, imaging, and procedural software for spine disorder treatment.

$9.44

After-hours close+0.01 (+0.16%)

At close$9.43(−1.52%)

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Profile

Alphatec Holdings, Inc.ATECHealth Care

Sells spine surgery implants and EOS imaging systems around a spine-only procedural platform. Revenue is concentrated in the U.S., with surgeon education, sales-agent coverage, regulatory clearance, reimbursement, and third-party manufacturing shaping execution.

Designs and sells technologies for surgical treatment of spine disorders, centered on spinal implants, access systems, biologics, and EOS full-body weight-bearing imaging. The portfolio also includes SafeOp neuromonitoring, EOS Insight planning and assessment software, and the broader InformatiX platform.

Commercial activity is concentrated in the United States, with international surgical implant work still early and focused on Australia, New Zealand, and Japan. Sales move through independent agents and direct representatives, while surgeon training and in-house development are anchored in Carlsbad.

Management reports the company as one operating segment, so product families are the clearest way to understand the business. Execution depends on surgeon adoption, FDA and foreign device regulation, procedure reimbursement, and outside manufacturers for implants, instruments, imaging equipment, and parts.

Company facts

CEOPatrick S. Miles

ListedJun 7, 2006

ExchangeNASDAQ

HeadquartersCarlsbad, CA

CountryUnited States

Employees913

CIK0001350653

ISINUS02081G2012

Key statistics

Market cap$1.45B

EPS (ttm)−$0.7200

P/E (ttm)−13.11

ROE-819.0%

P/B−121.49

P/S1.78

Dividend yield—

Beta0.84vs XLV 0.90

Year to date −54.6% · Average volume (30d) 2.1M

Analysts

Price target, next 12 months$15.00+58.9%Median of 20 analysts · vs the Aug 28 close

ConsensusBuy17 of 20 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $9.44

High$24.00+154.2%

Median$15.00+58.9%

Low$12.00+27.1%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 5, 2026	UBS	Reiterate	Buy	$15	$16
Aug 5, 2026	BMO Capital	Reiterate	Outperform	$11	$12
Jul 28, 2026	UBS	Initiate	Buy		$15
Jul 23, 2026	Stephens	Initiate	Overweight		$15
Jul 8, 2026	BMO Capital	Initiate	Outperform		$11

Earnings

EPS

Estimate$0.11

ReportedDue Oct 29, 2026

Revenue

Estimate$225.4M

ReportedDue Oct 29, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 4, 2026Q2 FY26	$0.07	$0.07	0.0%	$211.3M	$213.5M	+1.1%	−7.54%
May 5, 2026Q1 FY26	−$0.01	−$0.22	−2,100.0%	$197.5M	$192.1M	−2.7%	−31.67%
Feb 24, 2026Q4 FY25	$0.04	$0.06	+50.0%	$211.5M	$212.9M	+0.7%	+0.79%
Oct 30, 2025Q3 FY25	−$0.03	$0.03	+200.0%	$209.2M	$196.5M	−6.1%	+16.29%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$169.2M	$185.5M	$196.5M	$212.9M	$192.1M	$213.5M
Gross profit	$116.0M	$129.1M	$137.3M	$130.4M	$117.3M	$154.1M
Operating income	−$44.3M	−$13.1M	−$15.9M	−$5.4M	−$22.1M	−$1.9M
Net income	−$51.9M	−$41.1M	−$28.6M	−$21.7M	−$33.9M	−$25.8M
Diluted EPS	−$0.35	−$0.27	−$0.19	−$0.15	−$0.22	−$0.16
Gross margin	68.6%	69.6%	69.9%	61.2%	61.1%	72.2%
Operating margin	-26.2%	-7.1%	-8.1%	-2.5%	-11.5%	-0.9%

Fiscal years (4-quarter sums)FY21 $243.2M · FY22 $350.9M · FY23 $482.3M · FY24 $611.6M · FY25 $764.2M

Revenue by product · Q2 FY26

Products And Services$213.5M · 100%

Revenue by geography · Q2 FY26

United States$201.2M · 94%

Non-US$12.3M · 6%

Balance sheet, Jun 30, 2026Cash & short-term investments $118.7M · Total debt $604.0M · Total assets $791.0M · Shareholders' equity −$12.1M

Dividends

No dividends on record.

Ownership

Institutions 73.96%113.75M sharesInsiders 15.22%23.41M sharesOther 10.82%16.63M shares

Shares outstanding 153.79M · Float 121.05M · 78.7% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	11.33M	7.37%	13F	Aug 7, 2026
David R. Pelizzon · director	10.77M	7.01%	Form 4	Jun 12, 2026
Pritzker Jennifer N. · 10 percent owner	10.65M	6.92%	Form 4	Dec 10, 2025
Squadron Capital LLC · 10 percent owner	10.65M	6.92%	Form 4	Dec 10, 2025
Braidwell LP	6.53M	4.25%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 5, 2026	Tyson Eliot Marshall	officer: GENERAL COUNSEL & CORP. SEC.	−8,168	$9.65
Jun 11, 2026	Karen K. Mcginnis	director	−6,050	$8.01
May 7, 2026	Keith Valentine	director	+56,153	$7.49
May 8, 2026	Keith Valentine	director	+43,847	$7.54
May 11, 2026	Keith Valentine	director	+35,000	$7.00