• In January 2026, Alphatec Holdings, Inc. and Theradaptive, Inc. announced a past partnership granting Alphatec exclusive U.S. commercial rights to Theradaptive’s OsteoAdapt osteoinductive bone graft for spinal fusion, alongside Theradaptive’s Series B financing launch to fund clinical trials and manufacturing scale-up.
• This agreement links Alphatec’s growing spine surgery ecosystem with an FDA Breakthrough-designated regenerative technology in a more than US$10 billion U.S. spine surgery market, potentially reshaping its role in spine biologics.
• Next, we’ll examine how securing exclusive U.S. rights to OsteoAdapt may influence Alphatec’s investment narrative and long-term growth drivers.

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Alphatec Holdings Investment Narrative Recap

To own Alphatec, you need to believe its spine focused ecosystem can convert procedure growth into improving economics despite ongoing losses and heavy investment. The OsteoAdapt partnership fits this thesis by deepening its spine biologics offering, but the most immediate catalyst still appears to be execution against Alphatec’s 2026 revenue target of about US$890 million, while the biggest near term risk remains sustained cash burn if revenue growth slows. The Theradaptive news does not materially change those priorities.

Among recent announcements, Alphatec’s 2026 revenue guidance of approximately US$890 million, following an implied 25% increase in 2025 revenue, is especially relevant. It frames how investors might think about the potential contribution of OsteoAdapt over time, alongside Alphatec’s broader spine hardware, imaging and enabling technologies, while also underscoring the importance of maintaining momentum in a competitive US$10 billion plus spine surgery market.

Yet investors should also be aware that if operating losses persist while Alphatec keeps funding intensive R&D and commercial build out...

Alphatec Holdings’ narrative projects $1.1 billion revenue and $93.9 million earnings by 2028.

Uncover how Alphatec Holdings' forecasts yield a $24.62 fair value, a 44% upside to its current price.

Exploring Other Perspectives

Three fair value estimates from the Simply Wall St Community span roughly US$0.00 to about US$26.73 per share, showing how far apart individual views can be. When you set those against the company’s continued unprofitability and reliance on sustained growth to support heavy investment, it underlines why many market participants are weighing both upside potential and the risk of prolonged cash burn.

Explore 3 other fair value estimates on Alphatec Holdings - why the stock might be worth as much as 56% more than the current price!

Build Your Own Alphatec Holdings Narrative

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• A great starting point for your Alphatec Holdings research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.