Alphatec Sinks 32% as Biologics Slump Forces Guidance Cut
ATEC is trading near its 52-week low of $6.82 (15% above the low) on elevated volume (3.0× avg).
Summary
Alphatec shares are down 32% to $7.71 premarket, the worst single-day drop since August 2024, after Q3 revenue of $221 million missed the $225 million consensus and adjusted EPS of 9 cents fell a penny short. The problem is mix: surgeries grew, but fewer doctors bundled the high-margin biologics bone-graft products, so revenue per procedure fell and biologic sales slipped about $1 million year over year. Management now expects biologics flat in 2026 instead of the usual $15 million to $25 million lift, and cut the full-year revenue outlook to about $862 million from $882 million — a sharp reversal from reaffirming guidance just three months ago. Hardware is the offset, up 17%, and the company posted its first quarterly operating profit at $3.2 million, but cash fell to $79.9 million from $160.8 million at year-end after heavy instrument spending. Needham trimmed its target to $12 from $14 while keeping Buy; 13 of 14 covering analysts still rate the stock Buy.
At the time of this announcement, ATEC was trading at $7.84 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $6.82 to $23.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.