Alphatec Tumbles 22.44% as Revised 2026 Revenue Guidance Falls Short of Historical Growth

The share price fell to its lowest level since October 2025 today, with an intraday decline of 23.05%.

Alphatec Holdings (ATEC)’s stock has tumbled 22.44% over two days amid revised 2026 revenue guidance that fell below its historical growth trajectory. The company projected $890 million in full-year 2026 revenue, representing 17% growth compared to 2025’s $764 million, a slowdown from its prior double-digit expansion.

While the 2026 forecast narrowly exceeded analyst expectations, investors reacted negatively to the deceleration, viewing it as a signal of potential long-term challenges. A strategic acquisition of OsteoAdapt, a next-generation bone formation product, was cited as a long-term growth driver, but its immediate impact was overshadowed by near-term concerns.

Analysts remain cautiously optimistic, with most maintaining “Buy” ratings and price targets ranging from $16 to $28. However, the market’s focus on 2026’s subdued growth highlights skepticism about the company’s ability to sustain its momentum. Alphatec’s strong 2025 performance—25% revenue growth and $91 million in adjusted EBITDA—failed to fully offset worries about 2026. The firm’s $260 million cash reserves and projected $20 million in 2026 free cash flow underscore its financial resilience, but investors appear prioritizing top-line expansion over operational efficiency. Management’s long-term goal of $1 billion in revenue by 2027 hinges on successful execution of initiatives like the Valence navigation system and strategic acquisitions, though near-term execution risks remain a critical focus for the stock’s recovery.