Alphatec Holdings Inc. (ATEC) experienced a significant after-hours decline of 10.98% on Tuesday following the release of its fourth-quarter 2025 financial results. The spine solutions provider reported quarterly figures that presented a mixed picture to investors.
The company's Q4 revenue of $213 million slightly exceeded analyst expectations of $211.4 million, while adjusted EBITDA of $33 million also beat the consensus estimate of $30.6 million. Surgical revenue grew 21% year-over-year, driven by increased case volumes, and net new surgeon users increased by 23% during the quarter.
However, the market reaction turned negative as Alphatec reported a GAAP net loss of $22 million for the quarter, with basic earnings per share of -$0.14. The company also posted an operating loss of $8.819 million. While the company reiterated its fiscal year 2026 revenue guidance of approximately $890 million and expects to generate at least $20 million in free cash flow, investors appeared focused on the ongoing profitability challenges despite top-line growth.
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