Alphatec Q2 revenue beats estimates on strong surgical case volume

Alphatec Holdings

04/08/2026 21:13

Overview
U.S. spine surgery device maker's Q2 revenue rose 15% yr/yr, beating analyst expectations
Adjusted EBITDA for Q2 beat analyst expectations, driven by margin expansion and case volume growth
Company reaffirmed 2026 revenue outlook and raised adjusted EBITDA guidance for the year

Outlook
Company reaffirms 2026 revenue outlook of about $882 mln
Company raises 2026 adjusted EBITDA guidance to about $140 mln from $134 mln
Company continues to expect at least $20 mln of free cash flow for 2026

Result Drivers
CASE VOLUME GROWTH - Co said 20% yr/yr increase in surgical case volume drove Q2 revenue growth
SURGEON USER EXPANSION - Net new surgeon users increased 24%, supporting continued durable growth
MARGIN EXPANSION - Adjusted EBITDA margin expanded 420 basis points yr/yr, reflecting improved profitability

Company press release: ID:nBw4DSg20a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$214 mln
$211.28 mln (14 Analysts)
Q2 Net Loss
 
$26 mln
 
Q2 Adjusted EBITDA
Beat
$36 mln
$31.12 mln (12 Analysts)
Q2 Gross Margin
 
72.20%
 
Q2 Adjusted Gross Margin
 
72.50%
 
Q2 Loss Per Basic Share
 
$0.16
 
Q2 Operating Income
 
-$1.91 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "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 $15.00, about 47.8% above its August 3 closing price of $10.15
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 27 three months ago

Reuters Recommended Reads
Aug 3 - SI-BONE Q2 revenue beats estimates, raises 2026 revenue outlook
Aug 4 - UK's Smith+Nephew cuts 2026 revenue view on weak US knee implant demand
Aug 3 - KKR to take medical-equipment maker Integer Holdings private in $5.7 billion deal

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(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.)