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Alphatec Holdings Inc

atecspine.com

Alphatec Holdings (NASDAQ: ATEC) is a medical technology company, headquartered in Carlsbad, California, focused on the design, development, and commercialization of surgical products and approaches for the treatment of spine disorders. Revenue is generated through the sale of implants, access systems, biologics, neuromonitoring technology, and related surgical products to hospitals and surgical facilities where spine procedures are performed. ATEC operates as a pure-play spine company, competing against larger diversified medical device companies in the spinal surgery market. For full year FY2025, surgical volume grew 22% and average revenue per surgery expanded 4% compared to FY2024, per the 10-K filed February 24, 2026. The company's product portfolio centers on integrated surgical approaches, including its Prone Transpsoas (PTP), Lateral TransPsoas (LTP), and Midline ALIF procedures, all designed around single-position surgery and supported by its proprietary SafeOp neuromonitoring platform.

Products & Services

Surgical approaches: Prone Transpsoas (PTP), Lateral TransPsoas (LTP), Midline ALIF. Neuromonitoring: SafeOp (automated EMG, SSEP, MEP monitoring). Navigation and robotics: Valence intra-operative system (acquired 2023). Imaging software: EOS Insight, launched 2024. Biologics: 3D ProFuse Osteoconductive Bioscaffold, AlphaGRAFT DBM, AlphaGRAFT CBM, BioCORE Moldable Bioactive Graft, Amnioshield Amniotic Tissue Barrier. Patient positioners: PTP Patient Positioning System, Sigma PTP Access System.

Revenue Model

Transactional product sales. ATEC sells spine implants, access systems, patient positioners, biologics, and neuromonitoring hardware and software per surgical procedure. Growth is driven by two metrics disclosed in the FY2025 10-K: surgical volume and average revenue per surgery.

Customers & Markets

Spine surgeons, hospitals, and surgical facilities performing spinal fusion and deformity correction procedures. End market is treatment of spinal disorders including degenerative disc disease, disc herniation, and deformity. Sales network includes both direct sales representatives and independent sales agents.

Geographic Exposure

Headquartered in Carlsbad, California. The 10-K references a global sales network, but specific revenue breakdown by geography is not detailed in the available filing excerpts.

Financial Snapshot

Revenue
TTM
$787.1M
Gross Margin
TTM
70.18%
Net Income
TTM
-$125.4M
Current Assets
2026 Q1
Current Liabilities
2026 Q1
Current Ratio
2026 Q1
189.88%
Total Assets
2026 Q1
Total Liabilities
2026 Q1
$758.2M
Book Value
2026 Q1
41.26M
Cash
2026 Q1
P/E
Last 4 Quarters
N/A
Free Cash Flow
TTM
-$33.71M

Stock Price

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Market Cap: $1.4641 Billion

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