Alphatec Holdings, Inc. ATEC
We are a medical technology company, headquartered in Carlsbad, California, focused on the design, development, and advancement of technology for better surgical treatment of spine disorders. By applying our unique, 100% spine focus and deep industry know-how, we aim to revolutionize spine surgery through clinical distinction. The sophisticated approaches that we create from the ground up integrate with our expanding InformatiX ("IX") platform to objectively inform surgery and achieve the goals of spine surgery more predictably and more reproducibly. We have a comprehensive product portfolio designed to address the spine's various pathologies and we are perpetually innovating to accomplish our vision to be the standard bearer in spine.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $764.2M | $611.6M | $482.3M | $350.9M | $243.2M | $144.9M | $113.4M | $91.7M | $101.7M | $120.2M |
| Cost of revenue | $232.3M | $187.3M | $172.1M | $117.8M | $85.5M | $42.4M | $35.8M | $28.5M | $33.5M | $44.1M |
| Gross profit | $531.9M | $424.3M | $310.2M | $233.1M | $157.8M | $102.5M | $77.6M | $63.2M | $68.2M | $76.1M |
| SG&A | $498.5M | $450.2M | $374.1M | $300.0M | $229.3M | $129.2M | $101.7M | $72.6M | $70.0M | $26.3M |
| Total operating expenses | $614.0M | $560.4M | $483.6M | $380.0M | $285.8M | $161.4M | $124.9M | $85.7M | $77.2M | $91.5M |
| Operating income | -$82.1M | -$136.2M | -$173.4M | -$147.0M | -$128.1M | -$58.9M | -$47.3M | -$22.4M | -$9.0M | -$15.4M |
| Interest expense | $45.9M | $24.9M | $16.6M | $5.5M | $7.1M | $12.4M | $9.9M | — | — | $5.4M |
| Pre-tax income | -$143.4M | -$162.1M | -$186.9M | -$152.0M | -$144.2M | -$78.8M | -$57.1M | -$30.2M | -$4.6M | -$30.9M |
| Income tax | $45.0K | $50.0K | $277.0K | $716.0K | $1.1M | $145.0K | $239.0K | $1.4M | $34.0K | $4.6M |
| Net income | -$143.4M | -$162.1M | -$186.6M | -$151.3M | -$143.0M | -$79.0M | -$57.0M | -$29.0M | -$2.3M | -$29.9M |
| EPS, basic | -0.96 | -1.13 | -1.54 | -1.46 | -1.49 | -1.18 | — | -1.20 | -0.18 | -3.49 |
| EPS, diluted | -0.96 | -1.13 | -1.54 | -1.46 | -1.49 | -1.18 | -1.09 | -1.20 | -1.08 | -3.49 |
| Shares, diluted (wtd. avg.) | $150.1M | $142.9M | $121.2M | $103.4M | $96.2M | $67.0M | — | $35.3M | $13.3M | $8.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $160.8M | $138.8M | $221.0M | $84.7M | $187.2M | $107.8M | $47.1M | $29.1M | $22.5M | $19.6M |
| Receivables | $97.3M | $83.0M | $72.6M | $60.1M | $41.9M | $23.5M | $16.1M | $15.1M | $14.8M | $18.5M |
| Inventory | $169.4M | $175.3M | $136.8M | $101.5M | $91.7M | $46.0M | $34.9M | $28.8M | $27.3M | $30.1M |
| Total current assets | $450.9M | $417.4M | $451.1M | $255.6M | $331.2M | $184.2M | $108.3M | $75.5M | $66.5M | $72.8M |
| Property, plant and equipment | $135.3M | $156.4M | $149.8M | $102.0M | $87.4M | $36.7M | $19.7M | $13.2M | $12.7M | $15.1M |
| Goodwill | $75.2M | $71.0M | $73.0M | $47.4M | $39.7M | $13.9M | $13.9M | $13.9M | — | $0 |
| Other intangibles | $93.5M | $93.5M | $102.5M | $82.8M | $85.3M | $24.7M | $25.6M | $26.4M | $5.2M | $5.7M |
| Total assets | $791.2M | $775.7M | $805.2M | $521.0M | $572.1M | $261.2M | $169.9M | $129.5M | $84.7M | $94.2M |
| Accounts payable | $40.9M | $53.0M | $49.0M | $34.7M | $25.7M | $17.6M | $7.8M | $4.4M | $3.9M | $8.7M |
| Short-term debt | $64.5M | $1.7M | $1.8M | $14.9M | $342.0K | $4.2M | $489.0K | $3.3M | $3.3M | $3.1M |
| Total current liabilities | $219.2M | $153.0M | $157.6M | $138.9M | $101.1M | $58.3M | $36.4M | $30.6M | $29.7M | $40.1M |
| Long-term debt | $501.4M | $574.5M | $511.0M | $349.5M | $326.5M | $38.0M | $53.4M | $42.3M | $37.8M | $43.1M |
| Retained earnings | -$1.42B | -$1.28B | -$1.12B | -$932.3M | -$781.0M | -$638.0M | -$558.9M | -$501.9M | -$459.5M | -$457.2M |
| Total equity | $12.4M | -$14.2M | $78.1M | -$34.7M | $80.7M | $129.9M | $43.6M | $17.6M | -$26.7M | -$41.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $45.2M | -$44.7M | -$78.5M | -$75.1M | -$73.3M | -$46.4M | -$33.1M | -$25.6M | -$8.7M | -$10.0M |
| Depreciation and amortisation | $77.5M | $78.4M | $56.1M | $41.2M | $26.8M | $10.9M | $7.6M | $6.8M | $7.5M | $12.4M |
| Stock-based compensation | $73.7M | $73.3M | $81.2M | $40.6M | $36.5M | $17.7M | $11.0M | $5.3M | $4.0M | $1.6M |
| Capital expenditure | $42.5M | $83.2M | $80.5M | $49.5M | $68.5M | $23.1M | $13.0M | $6.5M | $7.6M | $8.9M |
| Investing cash flow | -$53.4M | -$93.1M | -$142.0M | -$58.3M | -$157.8M | -$23.9M | -$13.0M | -$21.7M | -$6.5M | $62.0M |
| Financing cash flow | $30.0M | $56.2M | $356.9M | $31.2M | $312.0M | $130.8M | $64.2M | $53.9M | $17.8M | -$43.4M |
| Buybacks | — | — | — | — | $25.0M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-191867.
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