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Alphatec Q3 revenue misses expectations on lower biologics attachment

By Reuters News


Overview

  • US spine device maker's Q3 revenue grew 13% yr/yr but missed analyst expectations

  • Q3 adjusted EBITDA rose and beat analyst expectations

  • Company says revenue shortfall was due to lower biologics attachment


Outlook

  • Alphatec expects 2026 revenue of about $862 mln, including $789 mln surgical revenue

  • Company forecasts 2026 adjusted EBITDA of about $137 mln

  • Alphatec expects about $10 mln free cash flow for 2026


Result Drivers

  • LOWER BIOLOGICS ATTACHMENT - Co said revenue missed expectations mainly due to lower biologics attachment

  • HARDWARE GROWTH AND SURGEON ADOPTION - Co reported 17% growth in hardware revenue, 20% increase in case volumes, and 25% rise in new surgeon users


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$221 mln

$225.15 mln (14 Analysts)

Q3 Net Loss

$5 mln

Q3 Adjusted EBITDA

Beat

$38 mln

$36.27 mln (13 Analysts)

Q3 Gross Margin

71.50%

Q3 Adjusted Gross Margin

71.90%

Q3 Loss Per Basic Share

$0.03

Q3 Operating Income

$3.25 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for Alphatec Holdings, Inc. is $15.00, about 31% above its October 28 closing price of $11.45

  • The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Oct 28 - Boston Scientific Q3 revenue beats estimates despite cybersecurity disruption

  • Oct 28 - Geron discontinues late-stage trial of blood cancer drug, shares plunge

  • Oct 28 - Glaukos Q3 revenue jumps 58% on iDose TR, Epioxa launches, Corneal Health growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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