Alphatec Holdings (NASDAQ: ATEC) experienced a significant 24-hour plunge of 12.51%, with the decline intensifying in the after-hours session following the release of its first-quarter 2026 financial results.

The medical device company reported quarterly sales of $192.108 million, which missed the analyst consensus estimate of $197.345 million. Despite a 13.55% year-over-year increase in revenue, the top-line shortfall disappointed investors. The company also reported a net loss of $34 million for the quarter and a basic loss per share of $0.22.

Concurrently, Alphatec announced a debt refinancing initiative, entering a new $300 million credit facility. The company stated this move is expected to reduce annual interest expense by over $6 million and extend debt maturities to 2031. Management provided full-year 2026 guidance, projecting total revenue of approximately $882 million and adjusted EBITDA of $134 million.