ATEC on Nasdaq
Alphatec Holdings, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
69.6%Gross margin3
-10.7%Operating margin3
-18.8%Net margin3
25.0%Revenue growth, 20253
-1153.7%Return on equity3
40.35×Debt to equity3
$2.8MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 94% of the revenue Alphatec Holdings, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $445.4M | $571.3M | $716.1M |
| Outside the United States | $36.9M | $40.3M | $48.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue30¢$232.3M
- Selling, general and admin64¢$498.5M
- Interest6¢$45.9M
- Income tax0¢$45.0K
Out of $764.2M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending94¢$42.5M
- Kept or used elsewhere6¢$2.8M
Out of $45.2M of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $764.2M | $611.6M | $482.3M |
| Cost of sales | $232.3M | $187.3M | $172.1M |
| Gross profit | $531.9M | $424.3M | $310.2M |
| Research and development | $76.3M | $80.7M | $70.1M |
| Sales, general and administrative | $498.5M | $450.2M | $374.1M |
| Litigation-related expenses | $23.8M | $9.8M | $22.3M |
| Amortization of acquired intangible assets | $15.1M | $16.3M | $14.3M |
| Transaction-related expenses | $0 | $210.0K | $2.1M |
| Restructuring expenses | $378.0K | $3.2M | $719.0K |
| Total operating expenses | $614.0M | $560.4M | $483.6M |
| Operating loss | -$82.1M | -$136.2M | -$173.4M |
| Interest expense, net | -$45.9M | -$24.9M | -$16.6M |
| Loss on debt extinguishment | -$17.6M | $0 | $0 |
| Gain on derivative liability | $620.0K | $0 | $0 |
| Other income (expense), net | $1.6M | -$1.0M | $3.1M |
| Total other expense, net | -$61.3M | -$25.9M | -$13.5M |
| Net loss before taxes | -$143.4M | -$162.1M | -$186.9M |
| Income tax (benefit) provision | -$45.0K | $50.0K | -$277.0K |
| Net loss | -$143.4M | -$162.1M | -$186.6M |
| Net loss per share, basic | -$0.96 | -$1.13 | -$1.54 |
| Net loss per share, diluted | -$0.96 | -$1.13 | -$1.54 |
| Weighted average shares outstanding, basic | 150.1M shares | 142.9M shares | 121.2M shares |
| Weighted average shares outstanding, diluted | 150.1M shares | 142.9M shares | 121.2M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $160.8M | $138.8M | |
| Accounts receivable, net of allowances of $12,685 and $4,763, respectively | $97.3M | $83.0M | |
| Inventories | $169.4M | $175.3M | |
| Prepaid expenses and other current assets | $23.3M | $20.3M | |
| Total current assets | $450.9M | $417.4M | |
| Property and equipment, net | $135.3M | $156.4M | |
| Right-of-use assets | $31.2M | $34.7M | |
| Goodwill | $75.2M | $71.0M | |
| Intangible assets, net | $93.5M | $93.5M | |
| Other assets | $5.1M | $2.7M | |
| Total assets | $791.2M | $775.7M | |
| Accounts payable | $40.9M | $53.0M | |
| Accrued expenses and other current liabilities | $97.0M | $81.5M | |
| Contract liabilities | $10.4M | $10.5M | |
| Short-term debt | $64.5M | $1.7M | |
| Current portion of operating lease liabilities | $6.3M | $6.5M | |
| Total current liabilities | $219.2M | $153.0M | |
| Long-term debt | $501.4M | $574.5M | |
| Operating lease liabilities, less current portion | $23.9M | $27.3M | |
| Other long-term liabilities | $10.7M | $11.4M | |
| Redeemable preferred stock, $0.0001 par value; 20,000 shares authorized, and 3,319 shares issued and outstanding at December 31, 2025 and 2024 | $23.6M | $23.6M | |
| Common stock, $0.0001 par value; 400,000 authorized; 150,257 shares issued and outstanding at December 31, 2025, and 144,129 shares issued and outstanding at December 31, 2024 | $15.0K | $14.0K | |
| Treasury stock, 1,808 shares at December 31, 2025 and December 31, 2024 | -$25.1M | -$25.1M | |
| Additional paid-in capital | $1.5B | $1.3B | |
| Accumulated other comprehensive loss | -$4.4M | -$13.7M | |
| Accumulated deficit | -$1.4B | -$1.3B | |
| Total stockholders' equity (deficit) | $12.4M | -$14.2M | |
| Total liabilities and stockholders' equity (deficit) | $791.2M | $775.7M | |
| Accounts receivable, net of allowances | $12.7M | $4.8M | |
| Redeemable preferred stock, par value (dollars per share) | $0.00 | $0.00 | |
| Redeemable preferred stock, shares authorized | 20.0M shares | 20.0M shares | |
| Redeemable preferred stock, shares issued | 3.3M shares | 3.3M shares | |
| Redeemable preferred stock, shares outstanding | 3.3M shares | 3.3M shares | |
| Common stock, par value (dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized | 400.0M shares | 400.0M shares | 200.0M shares |
| Common stock, shares issued | 150.3M shares | 144.1M shares | |
| Common stock, shares outstanding | 150.3M shares | 144.1M shares | |
| Treasury stock, shares | 1.8M shares | 1.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$143.4M | -$162.1M | -$186.6M |
| Depreciation and amortization | $77.5M | $78.4M | $56.1M |
| Stock-based compensation | $73.7M | $73.3M | $81.2M |
| Amortization of debt discount and debt issuance costs | $22.5M | $4.5M | $3.6M |
| Amortization of right-of-use assets | $5.1M | $4.9M | $3.5M |
| Write-down for excess and obsolete inventories | $13.5M | $15.4M | $13.6M |
| Loss on disposal of assets | $2.5M | $3.1M | $3.7M |
| Loss on debt extinguishment | $17.6M | $0 | $0 |
| Gain on derivative liability | -$620.0K | $0 | $0 |
| Other | $8.4M | $5.2M | $455.0K |
| Accounts receivable | -$21.9M | -$14.6M | -$12.8M |
| Inventories | -$6.3M | -$54.7M | -$45.6M |
| Prepaid expenses and other current assets | -$1.8M | -$97.0K | -$11.1M |
| Other assets | $405.0K | -$466.0K | -$541.0K |
| Accounts payable | -$11.2M | $9.7M | $7.0M |
| Accrued expenses | $15.8M | -$1.8M | $17.0M |
| Lease liabilities | -$4.9M | -$5.5M | -$3.6M |
| Contract liabilities | -$271.0K | -$3.3M | $1.8M |
| Other long-term liabilities | -$1.5M | $3.4M | -$6.4M |
| Net cash provided by (used in) operating activities | $45.2M | -$44.7M | -$78.5M |
| Purchases of property and equipment | -$42.5M | -$83.2M | -$80.5M |
| Purchase of intangible assets | -$7.2M | -$9.9M | -$6.5M |
| Acquisition of business, net of cash acquired | $0 | $0 | -$55.0M |
| Cash paid for equity investment | -$3.0M | $0 | $0 |
| Other | -$770.0K | ||
| Net cash used in investing activities | -$53.4M | -$93.1M | -$142.0M |
| Proceeds from issuance of convertible notes, net | $392.9M | $0 | $0 |
| Repurchase of convertible notes | -$268.2M | $0 | $0 |
| Repayment of revolving credit facility | -$64.0M | -$164.2M | -$119.5M |
| Purchase of capped calls | -$42.5M | $0 | $0 |
| Proceeds from revolving credit facility | $14.2M | $175.0M | $134.0M |
| Payment of debt issuance costs | -$706.0K | -$140.0K | -$3.3M |
| Proceeds from term debt, net of debt discount | $0 | $48.0M | $148.5M |
| Net cash received (paid for) common stock exercises | $515.0K | -$560.0K | -$1.1M |
| Proceeds from common stock offerings, net of offering costs | $0 | $0 | $213.2M |
| Repayment of OCEANEs | $0 | $0 | -$13.3M |
| Other | -$2.1M | -$1.9M | -$1.5M |
| Net cash provided by financing activities | $30.0M | $56.2M | $356.9M |
| Effect of exchange rate changes on cash | $128.0K | -$551.0K | -$185.0K |
| Net change in cash and cash equivalents | $22.0M | -$82.1M | $136.3M |
| Cash paid for interest | $23.8M | $20.3M | $17.3M |
| Cash paid for income taxes | $389.0K | $275.0K | $333.0K |
| Financed insurance | $1.3M | $1.2M | $1.3M |
| Purchases of property and equipment in accounts payable and accrued expenses | $7.8M | $8.7M | $10.4M |
| Purchases of intangible assets in accrued expenses and other long-term liabilities | $3.2M | $250.0K | $99.0K |
| Recognition of derivative liability | $124.1M | $0 | $0 |
| Recognition of lease liability | $136.0K | $11.9M | $424.0K |
Recent filings
- Oct 5, 20264
- Sep 24, 20263
- Sep 10, 20264
- Aug 7, 20264
- Aug 5, 2026144
- Aug 4, 20268-K
- Aug 4, 2026S-8
- Aug 4, 202610-Q
- Jun 12, 20264
- Jun 12, 20264
- Jun 12, 20264
- Jun 12, 20264
- Jun 12, 20264
- Jun 12, 20264
- Jun 11, 2026144
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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