ATEC Announces First Quarter 2025 Financial Results and Raises Full-Year Outlook

Alphatec Holdings, Inc. (Nasdaq: ATEC), a company focused on transforming spine surgery through innovative solutions, recently announced its financial results for the first quarter of 2025 and provided an update on its full-year guidance. The company reported significant growth in surgical revenue, with a 24% increase, and total revenue, which grew by 22%.

Key financial highlights for the first quarter ending March 31, 2025, included total revenue of $169 million, a GAAP gross margin of 69%, and a non-GAAP gross margin of 70%. The company’s GAAP operating expenses were reported at $160 million, with non-GAAP operating expenses at $124 million. Despite a GAAP net loss of $52 million, the company achieved adjusted EBITDA of $11 million with a margin of 6% and maintained an ending cash balance of $153 million.

Alphatec also experienced specific achievements during the first quarter of 2025, with surgical revenue reaching $152 million fueled by a 17% procedural volume growth due to the continued success of PTP™ and LTP™ solutions. The company also saw an 18% increase in new surgeon adoption, indicating a positive trajectory for future growth. By implementing focused cost management strategies, Alphatec improved its adjusted EBITDA margin by 840 bps year-over-year and optimized free cash utilization by $55 million compared to the same period in 2024.

Pat Miles, Alphatec’s Chairman and CEO, emphasized the company’s commitment to revolutionizing spine surgery and highlighted the success of their procedural ecosystem in driving robust and sustainable growth. The company’s dedication to excellence in spine surgery has positioned them as a preferred destination for innovative solutions within the industry.

Looking ahead, Alphatec provided an updated financial outlook for the full year 2025. They project total revenue growth of 20% to $734 million, including surgical revenue of $658 million and EOS revenue of $76 million. The company anticipates non-GAAP adjusted EBITDA of around $78 million, an increase from their previous estimate of $75 million.

In conclusion, Alphatec Holdings’ recent financial results for the first quarter of 2025 showcase their continued growth and success in revolutionizing spine surgery. With a strong focus on innovation and cost management, the company is well-positioned to achieve its financial targets for the year while maintaining its leadership position in the market.