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Alphatec Holdings Inc

Alphatec Holdings Inc

ATEC
$8.54USD↓-7.93%-0.73 today

MARKET CAP

1.3B

P/E (TTM)

—

FWD P/E

23.1x

DAY RANGE

$9 – $9

52W RANGE

$7
$23

AI Summary

Stalk
StalkMedium

ATEC is in an early Stage 1 consolidation following a terminal decline, with price stabilizing above repaired short-term EMAs and reclaiming the 50 DMA. Accumulation signatures include a breakout on expanding volume and rising RSI without divergence. The medium-term bias is bullish based on repaired structure, but near-term resistance and slight overbought context warrant patience. Execution is deferred, stalking for a pullback into the EMA support zone before engagement.

  • ↑Total revenue $192M, up 14% YoY; surgical revenue $178M, up 17% YoY.
  • ↑Procedural volume rose 21%; new surgeon adoption increased 23%.
  • ↓EOS segment revenue dropped to $14M from $17M, underperforming goals.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Alphatec Holdings, Inc. (NASDAQ: ATEC) is a prominent medical device company focused on developing advanced surgical technologies, particularly within the spinal surgery sector. The firm specializes in creating differentiated spine surgery solutions, leveraging its EOS imaging platform to enhance surgical outcomes while operating in a highly competitive landscape. ATEC's innovative approach is characterized by its commitment to integrating clinical data solutions, making it a compelling player in the orthopedic market.

Bull says

  • ↑Total revenue $192M, up 14% YoY; surgical revenue $178M, up 17% YoY.
  • ↑Procedural volume rose 21%; new surgeon adoption increased 23%.
  • ↑Generated positive $5M cash flow in Q2 ’25; maintains ~$140M cash reserves.
  • ↑Adjusted EBITDA $21M (11% margin), up 97% YoY, showing margin recovery.
  • ↑Expanding EOS Insight platform to boost surgeon adoption and volume.
  • ↑Elevated growth momentum and strong analyst revisions signal upside.

Bear says

  • ↓EOS segment revenue dropped to $14M from $17M, underperforming goals.
  • ↓Revenue per case declined ~3% YoY from higher mix of cervical procedures.
  • ↓Weak profitability indicators and negative earnings yield point to inefficiency.
  • ↓Elevated short interest reflects market skepticism and potential volatility.
  • ↓Negative book-to-price ratio suggests possible overvaluation relative to assets.
  • ↓Execution risks in EOS and pricing pressures may curb margin expansion.

Investment themes with ATEC

Medical Devices↑ +0.12%

Devices and instruments for medical treatment

ISRG · ABT · SYK
Demographics: Elderly Care↓ -0.26%

Services and products for aging population

UCB.BR · JNJ · AZN

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-09-2026neutral

Transcript signals

Bull points

  • The business is working and it's scaling. We did $192 million in Q1. This was short of our internal expectation, primarily due to a shortfall in EO sales performance. Surgical revenue was up 17%, mostly in line with consensus.
  • What matters most is what is fueling that growth. Cases up 21%, surgeons up 23%. That's not only a utilization story, it's an adoption story. We're adding surgeons and they're doing more with us. We have created a durable growth model.
  • Growth and adoption of our EOS Insight platform is creating significant momentum. EOS has enabled us to gain access to prestigious institutions and a hunting license within those institutions, which is increasingly paying off for us.

Bear points

  • Good afternoon, everyone, and welcome to the webcast of ATEC's first quarter financial results.
  • However, the important thing we are seeing is EOS Insight is evolving into more than a product, but a platform.
  • surgical revenue declined 6%, which was more pronounced than we have historically seen, primarily due to lower revenue per procedure contribution.
Read full transcript analysis ›