0001193125-26-437830
SEC filingATEC三季度营收2.21亿美元增13%，但生物制剂附着率不足致营收不及预期，EBITDA利润率仍扩400基点。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $221,172 thousand | $196,503 thousand | — |
| Gross Margin (GAAP) | 71.5% | 69.9% | — |
| Gross Margin (Non-GAAP) | 71.9% | 70.1% | — |
| Operating Income (GAAP) | $3,245 thousand | $(15,933) thousand | — |
| Net Income (GAAP) | $(5,471) thousand | $(28,578) thousand | — |
| Net Income (Non-GAAP) | $14,785 thousand | $4,091 thousand | — |
| Diluted EPS (GAAP) | $(0.03) | $(0.19) | — |
| Diluted EPS (Non-GAAP) | $0.09 | $0.03 | — |
| Adjusted EBITDA (Non-GAAP) | $38,257 thousand | $26,122 thousand | — |
| Adjusted EBITDA Margin (Non-GAAP) | 17.3% | 13.3% | — |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Revenue | 约 $862 million | N/A |
| FY2026 | Surgical Revenue | 约 $789 million | N/A |
| FY2026 | EOS Revenue | 约 $73 million | N/A |
| FY2026 | Adjusted EBITDA | 约 $137 million | Non-GAAP |
| FY2026 | Free Cash Flow | 约 $10 million | Non-GAAP |
本季总营收 $221 million、同比增长13%，Surgical 营收 $202 million 增14%，其中 surgical hardware 贡献 $26 million 增量、同比增17%；手术量增约20%、新增外科医生用户增25%，显示手术解决方案需求强劲。但管理层明确表示营收低于预期，首要原因是 biologics attachment 偏低，并称已着手解决、将改善 biologics 表现列为明确优先事项，同时提及 OsteoAdapt (Theradaptive) 的长期机会。
利润率方面，GAAP 毛利率由69.9%升至71.5%、Non-GAAP 由70.1%升至71.9%；GAAP 营业费用 $155 million、Non-GAAP $137 million，Non-GAAP adjusted EBITDA $38 million、利润率17.3%，同比扩张400个基点，GAAP 营业利润转正至 $3,245 thousand，GAAP 净亏损收窄至 $(5,471) thousand。现金流上，季度自由现金流 $6 million，期末现金 $80 million。全年指引下调至总营收约 $862 million（Surgical 约 $789 million、EOS 约 $73 million）、adjusted EBITDA 约 $137 million、自由现金流约 $10 million；本次披露未涉及回购或分红安排。