ATEC Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2016βFY2025
Alphatec Holdings, Inc. had $764M of revenue in fiscal 2025, up 25.0% on the year before. Over five years, revenue changed +39.5% a year on average.
Last close Β· Oct 23, 2026
$11.11
2.2%Hi! I read Alphatec Holdings, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+25.0%
Yes. Sales grew 25.0% last year.
Does it make a profit?
β18.8%
No. It lost money last year.
Does profit turn into cash?
0.4%
Partly. 0.4% of sales ends up as free cash.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Alphatec Holdings, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
October 29, 2026
Thursday Β· in 3 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 4, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 1, 2026 | Q1 '26 | Time not announced | 8-K β |
| Jan 12, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Oct 30, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 31, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 1, 2025 | Q1 '25 | After the market closes | 8-K β |
| Jan 13, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Oct 29, 2024 | Q3 '24 | Time not announced | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Alphatec Holdings, Inc. had $764M of revenue in fiscal 2025, up 25.0% on the year before. Over five years, revenue changed +39.5% a year on average. Its operating margin was β10.7%, up 11.5Β pts: of every 100 in sales, about β11 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Alphatec Holdings, Inc. lost $143M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $2.8M in fiscal 2025, 0.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Alphatec Holdings, Inc. owes $470M more than it holds in cash.
Cash, debt and the ratios that show how comfortably Alphatec Holdings, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $187M | $84.7M | $221M | $139M | $161M |
| Debt incl. finance leases | $327M | $379M | $515M | $578M | $630M |
| Debt / equity | 4.1x | β | 6.6x | β | 50.7x |
| Interest coverage | β18.0x | β26.7x | β10.4x | β5.5x | β1.8x |
| Current ratio | 3.3x | 1.8x | 2.9x | 2.7x | 2.1x |
| Quick ratio | 2.4x | 1.1x | 2.0x | 1.6x | 1.3x |
| Total assets | $572M | $521M | $805M | $776M | $791M |
| Total liabilities | $491M | $556M | $727M | $790M | $779M |
| Shareholders' equity | $80.7M | β$34.7M | $78.1M | β$14.2M | $12.4M |
| Net debt (β = net cash) | $140M | $295M | $294M | $439M | $470M |
KIRA Β· Its return on capital was β13.5%: every 100 invested in the business earned about β13 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Alphatec Holdings, Inc. passes 5 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 9 | 4 / 9 | 3 / 9 | 5 / 9 | 3 / 9 | 3 / 9 | 4 / 9 | 4 / 9 | 5 / 9 |
| Accruals ratio | β21.2% | 7.2% | β3.1% | β16.0% | β15.1% | β16.7% | β13.9% | β16.3% | β14.9% | β24.1% |
| Altman Z'' | β14.96 | β15.81 | β11.36 | β9.45 | β5.28 | β3.14 | β6.33 | β3.47 | β4.35 | β4.63 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $120M | $102M | $91.7M | $113M | $145M | $243M | $351M | $482M | $612M | $764M |
| Gross profit | $76.1M | $68.2M | $63.2M | $77.6M | $103M | $158M | $233M | $310M | $424M | $532M |
| Research and development | $9.2M | $4.9M | $9.9M | $13.8M | $18.7M | $32.0M | $44.0M | $70.1M | $80.7M | $76.3M |
| Operating income | β$15.4M | β$9.0M | β$22.4M | β$47.3M | β$58.9M | β$128M | β$147M | β$173M | β$136M | β$82.1M |
| Interest expense | $5.4M | β | β | $9.9M | $12.4M | $7.1M | $5.5M | $16.6M | $24.9M | $45.9M |
| Pretax income | β$30.9M | β$4.6M | β$30.2M | β$57.1M | β$78.8M | β$144M | β$152M | β$187M | β$162M | β$143M |
| Income tax | β$4.6M | β$0.0M | β$1.4M | β$0.2M | $0.1M | β$1.1M | β$0.7M | β$0.3M | $0.1M | β$0.0M |
| Net income | β$29.9M | β$2.3M | β$29.0M | β$57.0M | β$79.0M | β$143M | β$151M | β$187M | β$162M | β$143M |
| Net income to common | β | β$2.3M | β$42.5M | β$57.0M | β$79.0M | β$143M | β$151M | β$187M | β$162M | β$143M |
| Diluted EPS | β$3.49 | β$1.08 | β$1.20 | β$1.09 | β$1.18 | β$1.49 | β$1.46 | β$1.54 | β$1.13 | β$0.96 |
| Diluted shares | 0.01B | 0.01B | 0.04B | 0.05B | 0.07B | 0.10B | 0.10B | 0.12B | 0.14B | 0.15B |
| Cash flow | ||||||||||
| Cash from operations | β$10.0M | β$8.7M | β$25.6M | β$33.1M | β$46.4M | β$73.3M | β$75.1M | β$78.5M | β$44.7M | $45.2M |
| Capital expenditure | $8.9M | $7.6M | $6.5M | $13.0M | $23.1M | $68.5M | $49.5M | $80.5M | $83.2M | $42.5M |
| Free cash flow | β$18.9M | β$16.3M | β$32.1M | β$46.2M | β$69.5M | β$142M | β$125M | β$159M | β$128M | $2.8M |
| Depreciation and amortization | $12.4M | $7.5M | $6.8M | $7.6M | $10.9M | $26.8M | $41.2M | $56.1M | $78.4M | $77.5M |
| Stock-based compensation | $1.6M | $4.0M | $5.3M | $11.0M | $17.7M | $36.5M | $40.6M | $81.2M | $73.3M | $73.7M |
| Acquisitions | β | β | $15.1M | β | β | $62.1M | β | $55.0M | $0.0M | $0.0M |
| Share buybacks | β | β | β | β | β | $25.0M | β | β | β | β |
| Dividends and buybacks | β | β | β | β | β | $25.0M | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $19.6M | $22.5M | $29.1M | $47.1M | $108M | $187M | $84.7M | $221M | $139M | $161M |
| Total debt | $49.3M | $42.9M | $49.3M | $61.2M | $46.3M | $327M | $379M | $515M | $578M | $630M |
| Current assets | $72.8M | $66.5M | $75.5M | $108M | $184M | $331M | $256M | $451M | $417M | $451M |
| Current liabilities | $40.1M | $29.7M | $30.6M | $36.4M | $58.3M | $101M | $139M | $158M | $153M | $219M |
| Inventory | $30.1M | $27.3M | $28.8M | $34.9M | $46.0M | $91.7M | $102M | $137M | $175M | $169M |
| Property and equipment, net | $15.1M | $12.7M | $13.2M | $19.7M | $36.7M | $87.4M | $102M | $150M | $156M | $135M |
| Goodwill | $0.0M | β | $13.9M | $13.9M | $13.9M | $39.7M | $47.4M | $73.0M | $71.0M | $75.2M |
| Intangible assets | $5.7M | $5.2M | $26.4M | $25.6M | $24.7M | $85.3M | $82.8M | $102M | $93.5M | $93.5M |
| Total assets | $94.2M | $84.7M | $129M | $170M | $261M | $572M | $521M | $805M | $776M | $791M |
| Total liabilities | $136M | $111M | $112M | $126M | $131M | $491M | $556M | $727M | $790M | $779M |
| Shareholders' equity | β$41.5M | β$26.7M | $17.6M | $43.6M | $130M | $80.7M | β$34.7M | $78.1M | β$14.2M | $12.4M |
| Margins | ||||||||||
| Gross margin | 63.3% | 67.1% | 69.0% | 68.4% | 70.8% | 64.9% | 66.4% | 64.3% | 69.4% | 69.6% |
| Operating margin | β12.8% | β8.8% | β24.5% | β41.7% | β40.6% | β52.7% | β41.9% | β36.0% | β22.3% | β10.7% |
| EBITDA margin | β2.5% | β1.5% | β17.1% | β35.0% | β33.1% | β41.7% | β30.2% | β24.3% | β9.4% | β0.6% |
| Net margin | β24.9% | β2.3% | β31.6% | β50.3% | β54.5% | β58.8% | β43.1% | β38.7% | β26.5% | β18.8% |
| FCF margin | β15.7% | β16.0% | β35.0% | β40.7% | β48.0% | β58.3% | β35.5% | β33.0% | β20.9% | 0.4% |
| Returns | ||||||||||
| Return on capital | β | β | β46.9% | β64.7% | β67.9% | β45.9% | β44.7% | β36.8% | β25.3% | β13.5% |
| Return on capital employed | β28.4% | β16.4% | β22.7% | β35.4% | β29.0% | β27.2% | β38.5% | β26.8% | β21.9% | β14.4% |
| Return on equity | β | β | β | β186.3% | β91.1% | β135.9% | β657.7% | β859.1% | β507.1% | β |
| Return on assets | β31.8% | β2.6% | β27.1% | β38.1% | β36.6% | β34.3% | β27.7% | β28.1% | β20.5% | β18.3% |
| Return on tangible equity | β | β | β | β1,380.5% | β86.6% | β | β | β | β | β |
| Growth | ||||||||||
| Revenue growth | β | β15.4% | β9.9% | 23.7% | 27.7% | 67.9% | 44.3% | 37.4% | 26.8% | 25.0% |
| Share count change | β | 54.8% | 165.9% | 47.9% | 28.3% | 43.5% | 7.5% | 17.3% | 17.9% | 5.0% |
| Financial health | ||||||||||
| Debt / equity | β | β | 2.8x | 1.4x | 0.4x | 4.1x | β | 6.6x | β | 50.7x |
| Interest coverage | β2.9x | β | β | β4.8x | β4.8x | β18.0x | β26.7x | β10.4x | β5.5x | β1.8x |
| Current ratio | 1.8x | 2.2x | 2.5x | 3.0x | 3.2x | 3.3x | 1.8x | 2.9x | 2.7x | 2.1x |
| Quick ratio | 1.1x | 1.3x | 1.5x | 2.0x | 2.4x | 2.4x | 1.1x | 2.0x | 1.6x | 1.3x |
| Capital allocation | ||||||||||
| Capex / revenue | 7.4% | 7.5% | 7.1% | 11.5% | 16.0% | 28.2% | 14.1% | 16.7% | 13.6% | 5.6% |
| Stock comp / revenue | 1.4% | 3.9% | 5.8% | 9.7% | 12.2% | 15.0% | 11.6% | 16.8% | 12.0% | 9.6% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 4.0 | 3.0 | 5.0 | 3.0 | 3.0 | 4.0 | 4.0 | 5.0 |
| Altman Z'' | β15.0 | β15.8 | β11.4 | β9.5 | β5.3 | β3.1 | β6.3 | β3.5 | β4.3 | β4.6 |
| Accruals ratio | β21.2% | 7.2% | β3.1% | β16.0% | β15.1% | β16.7% | β13.9% | β16.3% | β14.9% | β24.1% |
Source: SEC EDGAR XBRL filings (CIK 0001350653). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
