Alphatec Holdings reported Q3 2025 earnings, posting a net loss of 19 cents per share on revenue of $197 million. Adjusted earnings were 3 cents per share, exceeding the consensus estimate of a loss of 3–4 cents per share.
Compared with Q3 2024, the company’s net loss widened from 28 cents per share to 19 cents per share, while revenue grew 30 % year‑over‑year to $197 million. Surgical revenue increased 31 % to $177 million and EOS revenue grew 29 % to $20 million.
Alphatec raised its full‑year 2025 revenue guidance to $760 million from $742 million and adjusted EBITDA guidance to $83 million from $75 million. Q3 2025 adjusted EBITDA reached $26 million, or 13 % of revenue, and the company generated $5 million in free cash flow.
The company’s 100 % spine‑focused strategy positions it as the third‑largest spine‑surgery provider in the United States, and it is expanding its sales force and integrated technology suite. Upcoming launches, such as the Valence navigation system, are expected to drive future growth. Debt refinancing and an expanded term‑loan facility have strengthened the balance sheet.
Management cited strong demand for spine solutions and continued growth in its procedural and informatics platform. While supply‑chain constraints and competitive pressures remain, the company’s cost controls and pricing power have supported the improved adjusted earnings.
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