Alphatec Q3 revenue misses expectations on lower biologics attachment

Alphatec Holdings

29/10/2026 20:20

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: ID:nBw2qPn04a

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.)