Positive context积极背景
Stocks股票 / Health Care / ATEC
Alphatec Holdings Inc · Health Care
ATEC US listed · USD美股 · 美元
Health Care
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$10.12
+$0.20 · +2.02%
52w low52周低 $6.40high高 $23.02
Neutral — no clear edge中性 — 无明显优势
A normal mid-cycle dip below the 10-day average — the real cycle low isn't due for ~12+ trading days. Wait for support to hold, or for the next low to set up.这是跌破 10 日均线的正常周期中段回调——真正的周期低点要到约 12+ 个交易日后才会到来。等待支撑站稳，或等下一个低点构筑成形。
As of 2026-09-27截至 2026-09-27
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-27
Momentum (RSI 14)动量（RSI 14）
55
Neutral zone中性区域
vs 50-day average相对50日均线
+6.6% above上方
Uptrend intact趋势完好
vs 200-day average相对200日均线
-14.1% below下方
Long trend down长期向下
Volatility波动率
80th percentile第80百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
Financials财务数据
fiscal years财年Revenue营业收入
$764.2M2025
20202025
5-yr growth5年复合增速 39.5%
Earnings per share每股收益
$-0.962025
20202025
Free cash flow自由现金流
$2.8M2025
20202025
Operating margin营业利润率
-10.7%
Balance-sheet quality财务体质 6/9
Return on equity股本回报率 -1154%
Watch关注
Leverage杠杆
Current ratio流动比率2.06
Capital allocation资本配置
Stock-based comp股权薪酬$73.7M
Share count change (1y)股数变化（1年）+4.3%
Debt coming due到期债务
FY2025 10-KIn the 12-month bucket following fiscal period end 2025-12-31, it reported $64.5M due — about 9% of its disclosed principal.在财年期末 2025-12-31 之后12个月的区间内，已披露到期本金为 $64.5M，约占其披露本金的 9%。
All maturity buckets are measured from fiscal period end 2025-12-31, not from today.所有到期区间均从财年期末 2025-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$64.5M
Year 2第2年
$15.6M
Year 3第3年
$206.5M
Year 4第4年
$0
Year 5第5年
$405.0M
After year 55年以后
not reported未披露
Cash reported at 2025-12-31: $160806000.截至 2025-12-31 披露的现金：$160806000。 Operating cash flow exceeded or equaled equipment spending over 2025-01-01 to 2025-12-31; no cash burn to measure.在 2025-01-01 至 2025-12-31 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001193125-26-067393, period ending报告期截至 2025-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-21T09:30:28.213341+00:00.
5/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— period_mismatch
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001193125-26-067393 · Filed提交日期 2026-02-24.
Cache acquired缓存获取时间: 2026-09-21T09:30:28.213341+00:00 · Evaluated as of评估截至 2026-09-28.
- Reported operating cash flow已披露经营活动现金流: $45231000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $42455000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $2776000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
ATEC daily MACD crossed downATEC 日线MACD下穿
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$11.3M net (1 buyers, 7 sellers)-$11.3M 净值（1 买家，7 卖家）
Signal history信号历史
engine events引擎事件
BOTTOMING → NEARING A LOW筑底中 → 接近低点
GET READY. Mixed structure. Last cycle was left-translated (topped early) — a bearish structural tell准备。结构混合。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Sep 24, 2026
ATEC daily MACD crossed downATEC 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $9.92.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$9.92。
Sep 23, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Sep 17, 2026
BUY ZONE → NEARING A HIGH买入区 → 接近高点
TAKE PROFITS止盈
Sep 11, 2026
NEARING A LOW → BUY ZONE接近低点 → 买入区
BUY买入
Sep 11, 2026
ATEC took relative-strength leadershipATEC 取得相对强弱领先
Relative strength vs SPY crossed above the 90th percentile of the last 90 days — leadership tends to persist. $10.58.相对标普500的强弱上穿近90日的第90百分位 — 领先往往延续。$10.58。
Sep 11, 2026
ATEC daily MACD crossed upATEC 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $10.58.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$10.58。
Sep 11, 2026
ATEC StochRSI turned up from oversoldATEC StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $10.58.StochRSI重回20上方 — 下行动量趋缓的最早预警。$10.58。
Sep 10, 2026
ATEC printed a daily-cycle lowATEC 打出日线周期低点
A confirmed local low — in this cycle framework the highest-odds long-entry window. $8.84.一个已确认的局部低点 — 在本周期框架中做多胜率最高的入场窗口。$8.84。
Sep 9, 2026
BOTTOMING → NEARING A LOW筑底中 → 接近低点
GET READY准备
Sep 8, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Showing the last 15 of显示最近15条，共 153 signals条信号
Company profile公司档案
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -0.6% | +1.3% |
| 1 Month近1月 | +7.4% | +0.9% |
| 3 Months近3月 | +8.8% | +6.1% |
| 6 Months近6月 | -7.4% | +22.3% |
| Year to date年初至今 | -51.3% | +13.8% |
| 1 Year近1年 | -34.2% | +18.5% |
Trading information交易信息
Volatility rank波动率分位
80th pctile
EPS (trailing)每股收益
$-0.95
Off 52-week high距52周高点
-55.4%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $145M | $243M | $351M | $482M | $612M | $764M |
| EPS每股收益 | $-1.18 | $-1.50 | $-1.47 | $-1.54 | $-1.13 | $-0.96 |
| Free cash flow自由现金流 | $-70M | $-142M | $-125M | $-159M | $-128M | $3M |
| Gross margin毛利率 | 70.8% | 64.9% | 66.4% | 64.3% | 69.4% | 69.6% |
| Net margin净利率 | -54.5% | -59.3% | -43.4% | -38.7% | -26.5% | -18.8% |
| FCF margin自由现金流利润率 | -48.0% | -58.4% | -35.5% | -33.0% | -20.9% | 0.4% |
Latest fiscal year最近财年
Gross profit毛利润
$532M
Net income净利润
$-143M
Operating cash flow经营现金流
$45M
Total assets总资产
$791M
Shareholder equity股东权益
$12M
Long-term debt长期负债
$501M
Shares outstanding总股本
0.15B
Returns & growth回报与增长
Return on equity股本回报率
-1153.7%
Return on assets资产回报率
-18.1%
Debt / assets负债/资产
63.4%
Asset growth资产增速
+2.0%
Accounting quality checks会计质量检查
- Earnings quality: earnings cash-backed盈利质量：盈利有现金支撑
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Pricing power: gross margin −1.2pts over 6 years定价能力：毛利率 6 年下降 1.2 个百分点
- Capital discipline: share count +83.0% over 6 years (dilution)资本纪律：股本 6 年增加 83.0%（稀释）
- Balance sheet: high leverage (LT debt 63% of assets)资产负债表：杠杆偏高（长期债务占资产 63%）
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
55
RSI (2-day)RSI（2日）
61
vs 20-day average相对20日均线
+2.9%
vs 50-day average相对50日均线
+6.6%
vs 200-day average相对200日均线
-14.1%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down — fresh downturn动能向下——刚刚转弱
3-day3日线
momentum up动能向上
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
63/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$11.3M
Insider buyers vs sellers内部人买家vs卖家
1 : 7
Recent fund flows近期基金流向
SPDR S&P Health Care EquipmentSPDR S&P Health Care Equipment
trimming减持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。