Alphatec (ATEC) financial statements
Alphatec reported revenue of $764M in fiscal 2025, up 22.8% a year over 9 years.
Net income was -$143M and the operating margin -10.7%, against -12.8% in 2016.
Free cash flow was $3M.
The diluted share count rose 1649% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Alphatec's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $120M | $102M | $92M | $113M | $145M | $243M | $351M | $482M | $612M | $764M |
| Cost of revenue | $44M | $34M | $28M | $36M | $42M | $85M | $118M | $172M | $187M | $232M |
| Gross profit | $76M | $68M | $63M | $78M | $103M | $158M | $233M | $310M | $424M | $532M |
| Research and development | $9M | $5M | $10M | $14M | $19M | $32M | $44M | $70M | $81M | $76M |
| Selling, general and admin | $77M | $70M | $73M | $102M | $129M | $229M | $300M | $374M | $450M | $499M |
| Operating income | -$15M | -$9M | -$22M | -$47M | -$59M | -$128M | -$147M | -$173M | -$136M | -$82M |
| Interest expense | $5M | — | — | $10M | $12M | $7M | $6M | $17M | $25M | $46M |
| Pre-tax income | -$31M | -$5M | -$30M | -$57M | -$79M | -$144M | -$152M | -$187M | -$162M | -$143M |
| Income tax | -$5M | -$34,000 | -$1M | -$239,000 | $145,000 | -$1M | -$716,000 | -$277,000 | $50,000 | -$45,000 |
| Net income | -$30M | -$2M | -$29M | -$57M | -$79M | -$143M | -$151M | -$187M | -$162M | -$143M |
| EPS (diluted) | -$3.49 | -$1.08 | -$1.20 | -$1.09 | -$1.18 | -$1.49 | -$1.46 | -$1.54 | -$1.13 | -$0.96 |
| Diluted shares | 9M | 13M | 35M | 52M | 67M | 96M | 103M | 121M | 143M | 150M |
| Gross margin | 63.3% | 67.1% | 69.0% | 68.4% | 70.8% | 64.9% | 66.4% | 64.3% | 69.4% | 69.6% |
| Operating margin | -12.8% | -8.8% | -24.5% | -41.7% | -40.6% | -52.7% | -41.9% | -36.0% | -22.3% | -10.7% |
| Net margin | -24.9% | -2.3% | -31.6% | -50.3% | -54.5% | -58.8% | -43.1% | -38.7% | -26.5% | -18.8% |
Balance sheet
Fiscal years, from Alphatec's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $20M | $22M | $29M | $47M | $108M | $187M | $85M | $221M | $139M | $161M |
| Receivables | $19M | $15M | $15M | $16M | $24M | $42M | $60M | $73M | $83M | $97M |
| Inventory | $30M | $27M | $29M | $35M | $46M | $92M | $102M | $137M | $175M | $169M |
| Total current assets | $73M | $66M | $76M | $108M | $184M | $331M | $256M | $451M | $417M | $451M |
| Property, plant and equipment | $15M | $13M | $13M | $20M | $37M | $87M | $102M | $150M | $156M | $135M |
| Goodwill | $0 | — | $14M | $14M | $14M | $40M | $47M | $73M | $71M | $75M |
| Total assets | $94M | $85M | $129M | $170M | $261M | $572M | $521M | $805M | $776M | $791M |
| Total current liabilities | $40M | $30M | $31M | $36M | $58M | $101M | $139M | $158M | $153M | $219M |
| Long-term debt | $43M | $38M | $42M | $53M | $38M | $326M | $350M | $511M | $575M | $501M |
| Total liabilities | $136M | $111M | $112M | $126M | $131M | $491M | $556M | $727M | $790M | $779M |
| Shareholders' equity | -$42M | -$27M | $18M | $44M | $130M | $81M | -$35M | $78M | -$14M | $12M |
| Net debt | $27M | $19M | $17M | $7M | -$66M | $140M | $280M | $292M | $437M | $405M |
Cash flow
Fiscal years, from Alphatec's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10M | -$9M | -$26M | -$33M | -$46M | -$73M | -$75M | -$78M | -$45M | $45M |
| Capital spending | $9M | $8M | $7M | $13M | $23M | $69M | $49M | $81M | $83M | $42M |
| Free cash flow | -$19M | -$16M | -$32M | -$46M | -$70M | -$142M | -$125M | -$159M | -$128M | $3M |
| Stock-based compensation | $2M | $4M | $5M | $11M | $18M | $36M | $41M | $81M | $73M | $74M |
| Share buybacks (net) | — | — | — | — | — | -$25M | — | — | — | — |
| Net borrowing | — | — | $34M | $10M | $34M | — | — | $148M | $48M | $0 |
| Free cash flow margin | -15.7% | -16.0% | -35.0% | -40.7% | -48.0% | -58.3% | -35.5% | -33.0% | -20.9% | 0.4% |
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Open ATEC in InvestinglyQuestions
What was Alphatec's revenue in 2025?
$764M in fiscal 2025, from its 10-K filing.
How much free cash flow does Alphatec generate?
$3M in fiscal 2025 (operating cash flow minus capital spending).
From Alphatec's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.