Alphatec Q1 revenue rises 14%, but misses estimates

Alphatec Holdings

05/05/2026 21:35

Overview

US spine surgery device maker's Q1 revenue grew 14% yr/yr but missed analyst expectations

Adjusted EBITDA for Q1 beat analyst estimates, with margin expanding to 11%

Co announces refinancing of existing debt, reducing interest expense by more than $6 million annually and extending maturities to 2031

Outlook

Alphatec expects 2026 total revenue to approximate $882 mln, up about 15% yr over yr

Company reiterates 2026 surgical revenue guidance of about $805 mln and adjusts EOS revenue to $77 mln

Company continues to expect 2026 adjusted EBITDA of about $134 mln, or 15% of revenue

Result Drivers

SURGICAL VOLUME - 17% yr/yr growth in surgical revenue driven by 21% increase in case volume

SURGEON ADOPTION - Net new surgeon users increased 23% yr/yr, reinforcing durable growth

OPERATING LEVERAGE - Adjusted EBITDA margin expanded 460 basis points yr/yr, reflecting improved operating leverage

Company press release: ID:nBw4xb4hPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$192 mln
$197.35 mln (12 Analysts)
Q1 Net Loss
$34 mln
Q1 Adjusted EBITDA
Beat
$21 mln
$19.83 mln (11 Analysts)
Q1 Gross Margin
71.00%
Q1 Adjusted Gross Margin
72.00%
Q1 Basic EPS
-$0.22
Q1 Operating Income
-$22.58 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "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 $25.00, about 142% above its May 4 closing price of $10.33

The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 81 three months ago

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.)