Alphatec cuts 2026 revenue outlook to $862m

Alphatec Holdings reported third-quarter revenue of $221 million, $4.14 million below estimates, while non-GAAP EPS of $0.09 matched expectations, Seeking Alpha said in a Nov. 6 article.

The company lowered its 2026 revenue outlook to $862 million and targeted a 16% adjusted EBITDA margin, while Seeking Alpha contributor Henrik Alex reduced his price target to $13.50 from $20.00.

Alex kept his positive recommendation after the guidance cut. “I am reiterating my "Buy" rating while reducing my price target from $20.00 to $13.50.”

The article said Alphatec management attributed the shortfall to execution problems and weaker market conditions. Adjusted EBITDA is a profit measure that excludes interest, taxes, depreciation, amortization and selected items.

Alphatec also reduced its 2026 expectations for adjusted EBITDA and free cash flow, according to the article. Free cash flow is cash left after operating needs and capital spending, and investors use it to assess how much reported growth becomes cash.

The revision matters because Alphatec had previously been described by Alex as outpacing sales expectations and gaining share in the $8 billion U.S. spinal disorder treatment market. The latest quarter puts more weight on whether the company can keep expanding while improving profitability.

Atlas360 reported on Oct. 30 that Alphatec cut its 2026 revenue forecast to $862 million while maintaining the 16% adjusted EBITDA margin target, despite slower third-quarter demand for biologics. Biologics are medical products derived from living systems and used in some spine procedures.

A price table on the Seeking Alpha page listed ATEC at $7.80, down 5.80%, and showed premarket trading at $7.78, down 0.26%. The source did not provide a timestamp for the last-price field beyond the page context.

Alex described the latest reset as Alphatec’s second full-year guidance reduction within six months. He said past declines in the shares had created profitable buying opportunities, while adding that management now needs stronger execution and a response to softer market trends.