Company Overview - Alphatec Holdings specializes in advanced technologies for spinal surgery, focusing on innovation and a comprehensive product suite aimed at improving surgical outcomes for complex spinal disorders [7] - The company offers a portfolio of spinal surgery solutions, including neural monitoring systems, fixation platforms, interbody implants, and biologics, with primary revenue derived from product sales in the United States [7][8] - As of December 9, 2025, Alphatec's stock price was $20.96, with a market capitalization of $3.11 billion and a revenue of $728 million for the trailing twelve months (TTM) [6] Recent Performance - Alphatec's stock has increased by 118% year to date, driven by quarterly results that exceeded expectations [9] - In Q3 2025, total revenue grew by 30% to $197 million, with surgical revenue of $177 million growing by 31% [9] - The company achieved a 26% growth in net new surgeon users, indicating strong future growth potential [9] Financial Position - Following a recent insider sale, Craig Hunsaker retained 1,289,142 shares valued at approximately $24.5 million, representing a direct ownership stake of 0.8700% of Alphatec's outstanding shares [5] - The transaction involved the sale of 100,000 shares for about $2 million, accounting for 7.2% of Hunsaker's direct ownership before the sale [4][2] Market Position and Strategy - Alphatec operates a direct sales and distributor business model, focusing on providing innovative devices and technologies for the surgical treatment of spinal disorders [8] - The company is currently unprofitable as it is in an accelerated investment phase, deploying substantial capital to fuel rapid revenue growth while aiming to build market share in the competitive spine surgery market [10] - Alphatec is approaching an inflection point, generating positive free cash flow in Q3 2025 and expecting full-year positive free cash flow in 2025 [10] Analyst Sentiment - Wall Street analysts are optimistic about Alphatec, with 10 out of 11 analysts giving it a buy rating and an average price target of $23, indicating almost 10% upside potential [11] - The company is best suited for investors with a higher risk tolerance and a time horizon of at least a few years due to its growth phase and competitive market [11]