Alphatec Shares Down 5% Despite Strong Preliminary Q4 Results Announcement

Alphatec Holdings, Inc. (NASDAQ:ATEC) is a company that focuses on providing innovative spinal surgery solutions. It operates in the Zacks Medical - Instruments industry, where it competes with other medical device companies. ATEC is committed to enhancing the predictability and effectiveness of spine surgeries through its technology and procedural solutions.

On August 5, 2025, Marshall Tyson Eliot, ATEC's General Counsel and Corporate Secretary, sold 9,924 shares of the company's common stock at $14.86 per share. This transaction, classified as an S-Sale, leaves Eliot with 446,499 shares of ATEC's common stock. This sale comes on the heels of ATEC's strong financial performance in the second quarter of 2025.

ATEC reported a 27% increase in revenue for Q2 2025, reaching $186 million, surpassing the analyst consensus estimate of $178.78 million. This growth reflects the company's expanding margins and increased surgeon adoption. 

The company's non-GAAP earnings per share (EPS) were $0.02, a significant improvement from the anticipated non-GAAP loss of $0.04. This marks an earnings surprise of 133.33%, as highlighted by Zacks. ATEC's commitment to innovation and strategic direction was discussed in its Q2 2025 earnings conference call, providing insights into its financial performance.

Despite challenges, ATEC's financial metrics indicate a strong position. The current ratio of 2.88 suggests a robust ability to cover short-term liabilities. However, the enterprise value to operating cash flow ratio of 172.06 indicates limited cash flow relative to valuation. The debt-to-equity ratio of 24.68 reflects a relatively high level of debt compared to equity.

Alphatec Holdings, Inc. (NASDAQ:ATEC) is a medical technology company that focuses on the design, development, and advancement of products for the surgical treatment of spinal disorders. The company aims to improve patient outcomes through innovative solutions. In the competitive landscape, Alphatec faces peers like AtriCure, Inc., Orthofix Medical Inc., AngioDynamics, Inc., and Addus HomeCare Corporation.

In evaluating Alphatec's financial performance, the Return on Invested Capital (ROIC) is a critical metric. Alphatec's ROIC stands at -19.95%, which is significantly lower than its Weighted Average Cost of Capital (WACC) of 8.66%. This negative ROIC indicates that Alphatec is not generating enough returns to cover its cost of capital, leading to a ROIC to WACC ratio of -2.31.

Comparing Alphatec to its peers, AtriCure, Inc. has a ROIC of -7.60% and a WACC of 11.22%, resulting in a ROIC to WACC ratio of -0.68. Orthofix Medical Inc. shows a ROIC of -10.55% against a WACC of 10.00%, with a ratio of -1.05. AngioDynamics, Inc. has a ROIC of -15.03% and a WACC of 6.71%, leading to a ratio of -2.24. These figures highlight that Alphatec and its peers are struggling to generate returns that exceed their cost of capital.

In contrast, Addus HomeCare Corporation stands out with a positive ROIC of 5.99% and a WACC of 9.01%, resulting in a ROIC to WACC ratio of 0.66. This positive ratio indicates that Addus HomeCare is effectively utilizing its capital to generate returns that surpass its cost of capital, showcasing efficient capital management compared to Alphatec and its other peers.

Alphatec Holdings, Inc. (NASDAQ:ATEC) is a medical technology company that focuses on the design, development, and advancement of products for the surgical treatment of spinal disorders. The company aims to improve patient outcomes through innovative solutions. In the competitive landscape, Alphatec faces peers like AtriCure, Inc., Orthofix Medical Inc., AngioDynamics, Inc., and Addus HomeCare Corporation.

In evaluating Alphatec's financial performance, the Return on Invested Capital (ROIC) is a critical metric. Alphatec's ROIC stands at -19.95%, which is significantly lower than its Weighted Average Cost of Capital (WACC) of 8.66%. This negative ROIC indicates that Alphatec is not generating enough returns to cover its cost of capital, leading to a ROIC to WACC ratio of -2.31.

Comparing Alphatec to its peers, AtriCure, Inc. has a ROIC of -7.60% and a WACC of 11.22%, resulting in a ROIC to WACC ratio of -0.68. Orthofix Medical Inc. shows a ROIC of -10.55% against a WACC of 10.00%, with a ratio of -1.05. AngioDynamics, Inc. has a ROIC of -15.03% and a WACC of 6.71%, leading to a ratio of -2.24. These figures highlight that Alphatec and its peers are struggling to generate returns that exceed their cost of capital.

In contrast, Addus HomeCare Corporation stands out with a positive ROIC of 5.99% and a WACC of 9.01%, resulting in a ROIC to WACC ratio of 0.66. This positive ratio indicates that Addus HomeCare is effectively utilizing its capital to generate returns that surpass its cost of capital, showcasing efficient capital management compared to Alphatec and its other peers.

Alphatec Holdings, Inc. (NASDAQ:ATEC) is a medical technology company that focuses on the design, development, and advancement of products for the surgical treatment of spine disorders. The company operates in a competitive landscape alongside peers like AtriCure, Inc., Orthofix Medical Inc., AngioDynamics, Inc., and Addus HomeCare Corporation. These companies also operate in the medical technology and healthcare sectors, each with its own focus and market strategies.

In evaluating Alphatec Holdings, the Return on Invested Capital (ROIC) and Weighted Average Cost of Capital (WACC) are crucial metrics. ATEC's ROIC is -19.95%, while its WACC is 9.10%. This results in a ROIC to WACC ratio of -2.19, indicating that the company is not generating enough returns to cover its cost of capital. This negative ratio suggests inefficiencies in capital utilization.

Comparatively, AtriCure, Inc. has a ROIC of -7.60% and a WACC of 10.89%, leading to a ROIC to WACC ratio of -0.70. Orthofix Medical Inc. shows a ROIC of -10.55% against a WACC of 10.13%, resulting in a ratio of -1.04. AngioDynamics, Inc. presents a ROIC of -15.03% and a WACC of 6.90%, with a ratio of -2.18. These figures indicate that these companies, like ATEC, are also struggling to generate returns that exceed their cost of capital.

In contrast, Addus HomeCare Corporation stands out with a positive ROIC of 5.99% and a WACC of 9.13%, resulting in a ROIC to WACC ratio of 0.66. This positive ratio suggests that Addus HomeCare is effectively utilizing its capital to generate returns that surpass its cost of capital, highlighting its superior capital efficiency compared to its peers.

Overall, while Alphatec Holdings and most of its peers face challenges in generating sufficient returns on invested capital, Addus HomeCare Corporation demonstrates a more efficient use of capital, as evidenced by its positive ROIC to WACC ratio. This comparison underscores the importance of these financial metrics in assessing a company's capital efficiency and overall financial health.

Alphatec Holdings, Inc. (NASDAQ:ATEC) is a medical technology company that focuses on the design, development, and advancement of products for the surgical treatment of spine disorders. The company operates in a competitive landscape alongside peers like AtriCure, Inc., Orthofix Medical Inc., AngioDynamics, Inc., and Addus HomeCare Corporation. These companies also operate in the medical technology and healthcare sectors, each with its own focus and market strategies.

In evaluating Alphatec Holdings, the Return on Invested Capital (ROIC) and Weighted Average Cost of Capital (WACC) are crucial metrics. ATEC's ROIC is -19.95%, while its WACC is 9.10%. This results in a ROIC to WACC ratio of -2.19, indicating that the company is not generating enough returns to cover its cost of capital. This negative ratio suggests inefficiencies in capital utilization.

Comparatively, AtriCure, Inc. has a ROIC of -7.60% and a WACC of 10.89%, leading to a ROIC to WACC ratio of -0.70. Orthofix Medical Inc. shows a ROIC of -10.55% against a WACC of 10.13%, resulting in a ratio of -1.04. AngioDynamics, Inc. presents a ROIC of -15.03% and a WACC of 6.90%, with a ratio of -2.18. These figures indicate that these companies, like ATEC, are also struggling to generate returns that exceed their cost of capital.

In contrast, Addus HomeCare Corporation stands out with a positive ROIC of 5.99% and a WACC of 9.13%, resulting in a ROIC to WACC ratio of 0.66. This positive ratio suggests that Addus HomeCare is effectively utilizing its capital to generate returns that surpass its cost of capital, highlighting its superior capital efficiency compared to its peers.

Overall, while Alphatec Holdings and most of its peers face challenges in generating sufficient returns on invested capital, Addus HomeCare Corporation demonstrates a more efficient use of capital, as evidenced by its positive ROIC to WACC ratio. This comparison underscores the importance of these financial metrics in assessing a company's capital efficiency and overall financial health.

Alphatec Holdings, Inc. (NASDAQ:ATEC) announced preliminary financial results for Q4 and provided guidance for fiscal 2023 revenue and adjusted EBITDA. While numbers came in better than expected, shares fell more than 5% today.

For Q4, the company expects revenue to be in the range of $105.2-106.2 million (up 42-44% year-over-year), well above the Street estimate of $95.3 million. This includes Surgical revenue of $90.7-91.5 million (up 48-50% year-over-year), compared to the Street estimate of $83.5 million and EOS revenue of $14.5-14.7 million (up 13-15% year-over-year), compared to the Street estimate of $13.0 million.

For 2023, the company expects revenue to be $438 million (up 25% year-over-year), above the Street estimate of $412 million. Further, management reiterated expectations for reaching adjusted EBITDA breakeven in 2023.