ATECAlphatec Holdings, Inc.
Surgical & Medical Instruments & Apparatus
- Revenue
- $764M
- 25% YoY
- Operating margin
- -10.7%
- 52% YoY
- EBITDA
- −$5M
- 92% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $247M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear10% of revenueOver 10% of revenue
- Payouts exceed cash flowClear55% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear9% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $243M | $351M | $482M | $612M | $764M | 25% |
| Operating income | −$128M | −$147M | −$173M | −$136M | −$82M | 40% |
| Net income | −$143M | −$151M | −$187M | −$162M | −$143M | 12% |
| Operating cash flow | −$73M | −$75M | −$78M | −$45M | $45M | 201% |
| Capex | $69M | $49M | $81M | $83M | $42M | 49% |
| Stock-based comp | $36M | $41M | $81M | $73M | $74M | 0.6% |
| Buybacks | $25M | — | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 1
- Open-market sells, 12 mo
- $0 · 0
- Net
- $1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $10M | $30M | 192 | 155 |
| FY2024 | $6M | $4M | 25 | 73 |
| FY2023 | $9M | $23M | 108 | 124 |
| FY2022 | $6M | $7M | 69 | 99 |
| FY2021 | $5M | $8M | 56 | 138 |