Alphatec Holdings, Inc.

Listed Company

ATECCIK 0001350653NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-143.36M

Total Assets

$791.21M

Equity

$12.43M

Shares Out

151.36M

Op. Cash Flow

$45.23M

Business

Alphatec Holdings, Inc. is a medical technology company focused on designing, developing, and advancing integrated technologies for surgical treatment of spine disorders. It offers an approach-based portfolio including surgical implants and fixation systems, approach‑specific access instruments and positioners, biologics, intraoperative neuromonitoring (SafeOp), full‑body 3D imaging (EOS) and software (Insight/AIX), navigation/robotics (Valence), and surgeon training programs. Its business is organized around procedural solutions and the Alpha InformatiX (AIX) platform that integrate devices, imaging, informatics, and services. Products are sold primarily in the U.S. through direct sales and independent agents, with early international expansion in Australia, New Zealand, and Japan and sales targeting hospitals, surgeons, and national accounts.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	764	612	482	351	243
Cost of sales	232	187	172	118	85
Gross profit	532	424	310	233	158
Research and development	76	81	70	44	32
Sales, general and administrative	499	450	374	300	229
Litigation-related expenses	24	10	22	24	11
Amortization of acquired intangible assets	15	16	14	10	5
Transaction-related expenses	0	210,000	2	120,000	6
Restructuring expenses	378,000	3	719,000	2	2
Total operating expenses	614	560	484	380	286
Operating loss	−82	−136	−173	−147	−128
Interest expense, net	−46	−25	−17	−6	−7
Loss on debt extinguishment	−18	0	0	—	−7
Gain on derivative liability	620,000	0	0	—	—
Other income (expense), net	2	−1	3	471,000	−2
Total other expense, net	−61	−26	−14	−5	—
Net loss before taxes	−143	−162	−187	−152	−144
Income tax (benefit) provision	−45,000	50,000	−277,000	−716,000	−1
Net loss	−143	−162	−187	−151	−143
Net loss per share, basic	−0.96	−1.13	−1.54	−1.46	−1.49
Net loss per share, diluted	−0.96	−1.13	−1.54	−1.46	−1.49
Weighted average shares outstanding, basic	150	143	121	103	96
Weighted average shares outstanding, diluted	150	143	121	103	96

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	161	139	221	85	187
Accounts receivable, net of allowances of $12,685 and $4,763, respectively	97	83	73	60	42
Inventories	169	175	137	102	92
Prepaid expenses and other current assets	23	20	21	9	10
Total current assets	451	417	451	256	331
Property and equipment, net	135	156	150	102	87
Right-of-use assets	31	35	26	28	25
Goodwill	75	71	73	47	40
Intangible assets, net	93	94	102	83	85
Other assets	5	3	2	5	3
Total assets	791	776	805	521	572
Accounts payable	41	53	49	35	26
Accrued expenses and other current liabilities	97	81	88	72	56
Contract liabilities	10	11	14	12	15
Short-term debt	65	2	2	15	342,000
Current portion of operating lease liabilities	6	6	5	5	4
Total current liabilities	219	153	158	139	101
Long-term debt	501	575	511	350	326
Operating lease liabilities, less current portion	24	27	24	27	24
Other long-term liabilities	11	11	11	17	17
Redeemable preferred stock, $0.0001 par value; 20,000 shares authorized, and 3,319 shares issued and outstanding at December 31, 2025 and 2024	24	24	24	24	24
Commitments and contingencies (Note 7)	—	—	—	—	—
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	15,000	14,000	14,000	11,000	10,000
Treasury stock, 1,808 shares at December 31, 2025 and December 31, 2024	−25	−25	−25	−25	−25
Additional paid-in capital	1,466	1,306	1,230	934	893
Accumulated other comprehensive loss	−4	−14	−8	−11	−6
Accumulated deficit	−1,424	−1,281	−1,119	−932	−781
Total stockholders' equity (deficit)	12	−14	78	−35	81
Total liabilities and stockholders' equity (deficit)	791	776	805	521	572

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−143	−162	−187	−151	−143
Depreciation and amortization	77	78	56	41	27
Stock-based compensation	74	73	81	41	36
Amortization of debt discount and debt issuance costs	23	4	4	2	2
Amortization of right-of-use assets	5	5	4	3	3
Write-down for excess and obsolete inventories	14	15	14	10	11
Loss on disposal of assets	2	3	4	3	2
Other	8	5	455,000	1	3
Accounts receivable	−22	−15	−13	−19	−10
Inventories	−6	−55	−46	−21	−28
Prepaid expenses and other current assets	−2	−97,000	−11	552,000	1
Other assets	405,000	−466,000	−541,000	−109,000	11,000
Accounts payable	−11	10	7	10	757,000
Accrued expenses	16	−2	17	—	—
Lease liabilities	−5	−5	−4	−3	150,000
Contract liabilities	−271,000	−3	2	−2	−1
Other long-term liabilities	−2	3	−6	−3	4
Net cash provided by (used in) operating activities	45	−45	−78	−75	−73
Purchases of property and equipment	−42	−83	−81	−49	−69
Purchase of intangible assets	−7	−10	−6	−9	—
Acquisition of business, net of cash acquired	0	0	−55	—	−62
Cash paid for equity investment	−3	0	0	—	—
Other	−770,000	—	—	—	—
Net cash used in investing activities	−53	−93	−142	−58	−158
Proceeds from issuance of convertible notes, net	393	0	0	—	—
Repurchase of convertible notes	−268	0	0	—	—
Repayment of revolving credit facility	−64	−164	−120	−28	—
Proceeds from revolving credit facility	14	175	134	63	—
Payment of debt issuance costs	−706,000	−140,000	−3	−1	−10
Proceeds from term debt, net of debt discount	0	48	148	—	—
Net cash received (paid for) common stock exercises	515,000	−560,000	−1	−3	−6
Proceeds from common stock offerings, net of offering costs	0	0	213	—	132
Repayment of OCEANEs	0	0	−13	—	—
Other	−2	−2	−2	584,000	−2
Net cash provided by financing activities	30	56	357	31	312
Effect of exchange rate changes on cash	128,000	−551,000	−185,000	−366,000	−1
Net change in cash and cash equivalents	22	−82	136	−103	79
Cash paid for interest	24	20	17	4	5
Cash paid for income taxes	389,000	275,000	333,000	272,000	223,000
Financed insurance	1	1	1	2	—
Purchases of property and equipment in accounts payable and accrued expenses	8	9	10	2	3
Purchases of intangible assets in accrued expenses and other long-term liabilities	3	250,000	99,000	750,000	—
Recognition of derivative liability	124	0	0	—	—
Recognition of lease liability	136,000	12	424,000	2	23

Filings

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