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Alphatec Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$5.6M in Q3 2026 · $3.1M over twelve months

Operating cash flow$18.9M
Capital spending−$13.3M
Free cash flow+$5.6M
Cash conversion cycle249 days

Analysis

In Q3 2026, Alphatec Holdings generated $18.9M of operating cash flow and spent $13.3M on capital projects, leaving free cash flow of $5.6M. That is $759K more than in Q3 2025 ($4.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $61.3M; the largest uses were other financing ($220M), capital spending ($58.3M), other investing ($21.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($163M); the cash balance fell by $75.8M.

Operating cash flow was $18.9M against net income of −$5.5M. The largest differences: depreciation & amortization +$20.5M, inventory −$15.2M, stock-based pay +$14.0M.

Its cash conversion cycle was 249 days (receivables 46 + inventory 294 − payables 90).

Free cash flow

Alphatec Holdings: free cash flow by quarterAlphatec Holdings: free cash flow by quarter$8.5MQ4 2024−$15.0MQ1 2025$5.2MQ2 2025$4.8MQ3 2025$7.7MQ4 2025−$10.8MQ1 2026$582KQ2 2026$5.6MQ3 2026
Operating cash flow less capital spending.
Alphatec Holdings: operating cash flow against capital spendingAlphatec Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$10.5M$2.0MQ4 2024−$5.0M$9.9MQ1 2025$15.5M$10.3MQ2 2025$14.0M$9.2MQ3 2025$20.7M$13.0MQ4 2025$1.3M$12.1MQ1 2026$20.5M$19.9MQ2 2026$18.9M$13.3MQ3 2026
Latest (Q3 2026): Operating cash flow $18.9M, Capital spending $13.3M.

Capital allocation, year by year

Alphatec Holdings: where the cash came from (up) and went (down), by fiscal yearAlphatec Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$73.3MFY2021: Shares issued $132MFY2021: Capital spending −$68.5MFY2021: Acquisitions −$62.1MFY2021: Buybacks −$25.0M$132MFY2021FY2022: Operating cash flow −$75.1MFY2022: Net borrowing $35.0MFY2022: Capital spending −$49.5M$35.0MFY2022FY2023: Operating cash flow −$78.5MFY2023: Net borrowing $150MFY2023: Shares issued $213MFY2023: Capital spending −$80.5MFY2023: Acquisitions −$55.0M$363MFY2023FY2024: Operating cash flow −$44.7MFY2024: Net borrowing $58.8MFY2024: Capital spending −$83.2M$58.8MFY2024FY2025: Operating cash flow $45.2MFY2025: Net borrowing −$49.8MFY2025: Capital spending −$42.5M$45.2MFY2025
Over these 5 years operating cash flow totalled −$226M; the largest uses were capital spending ($324M) and operating cash flow ($272M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$79.9M
Debt$552M
Net debt$472M
Due within a year$64.5M

Alphatec Holdings funds itself: free cash flow was $3.1M over the last twelve months, and $79.9M of cash and investments stands against $552M of debt ($64.5M due within a year, 1.2× covered by cash).

Alphatec Holdings: debt maturities by year (FY2025)Alphatec Holdings: debt maturities by year (FY2025)$64.5MYear 1$15.6MYear 2$206MYear 3$405MYear 5
Principal due in each year as disclosed in the annual report, against $79.9M of cash and investments now.

Where the cash came from and went

Alphatec Holdings: sources (+) and uses (−) of cash, Q3 2026Alphatec Holdings: sources (+) and uses (−) of cash, Q3 2026Other financing−$65.7MCash drawn (+) / kept (−)$38.7MNet borrowing (+) / repaid (−)$30.0MOperating cash flow$18.9MCapital spending−$13.3MOther investing−$8.5MExchange rates−$86K
Alphatec Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Alphatec Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$220MNet borrowing (+) / repaid (−)$163MCash drawn (+) / kept (−)$75.8MOperating cash flow$61.3MCapital spending−$58.3MOther investing−$21.9MExchange rates−$210K

From profit to cash

Alphatec Holdings: net income to operating cash flow, Q3 2026Alphatec Holdings: net income to operating cash flow, Q3 2026Net income−$5.5MDepreciation & amortization$20.5MStock-based pay$14.0MGains on disposals$633KReceivables−$1.4MInventory−$15.2MPayables−$4.2MAccrued liabilities$4.1MDeferred revenue$567KPrepaid and other assets−$2.8MOther liabilities$581KOperating cash flow$18.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20264629490249
Q2 20264629283255
Q1 20264828870265
Q4 20254224456229
Q3 20254526265241
Q2 20254527569251
Q1 20254629378261
Q4 20244229994247

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$18.9M−$13.3M$30.0M$38.7M$5.6M
Q2 2026$20.5M−$19.9M$24.8M$21.2M$582K
Q1 2026$1.3M−$12.1M−$3.0M$20.9M−$10.8M
Q4 2025$20.7M−$13.0M$3.0M−$5.1M$7.7M
Q3 2025$14.0M−$9.2M−$3.7M$1.3M$4.8M
Q2 2025$15.5M−$10.3M−$392K−$3.8M$5.2M
Q1 2025−$5.0M−$9.9M−$48.7M−$14.4M−$15.0M
Q4 2024$10.5M−$2.0M−$975K−$57.9M$8.5M

Alphatec Holdings: income statement and cash flow

Alphatec Holdings, Q3 2026: revenue $221M (+13% year over year), operating margin 1.5%. The chart follows the revenue to costs, profit and cash.

Alphatec Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.