Alphatec Holdings, Inc. (NASDAQ: ATEC) released preliminary financial results for 2025 on January 12. The company provided its outlook for 2026 on the same day.
Preliminary total revenue for the full year increased 25%, driven primarily by a 26% surge in surgical revenue. Revenue is expected to be between $763.4 million and $764.4 million. The company reaffirmed its full-year guidance for adjusted EBITDA of $91 million. It ended the year with a cash balance of $161 million.
For fiscal 2026, Alphatec Holdings has projected revenue of $890 million. Approximately 90% of this revenue is expected to be surgical-related. Adjusted EBITDA is anticipated to be around $130 million. Free cash flow for the year is forecast at approximately $20 million.
Also on January 12, the company announced a strategic agreement with Theradaptive, Inc. Under this agreement, Alphatec Holdings will acquire exclusive distribution rights in the United States for Theradaptive's rhBMP-2 solution, OsteoAdapt.
Following these announcements, Needham and HC Wainwright & Co. reiterated their Buy ratings for the stock. Needham set a price target of $22, while HC Wainwright & Co. set a price target of $24.
Wall Street has a consensus Strong Buy rating on the company. The one-year average share price target is $24.55, representing an upside of nearly 40% as of the close on January 12.
Alphatec Holdings, Inc. is a medical device company focused on developing technologies for the surgical treatment of spinal disorders.