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Side-by-side financial comparison of Alphatec Holdings, Inc. (ATEC) and Bowman Consulting Group Ltd. (BWMN). Click either name above to swap in a different company.

Alphatec Holdings, Inc. is the larger business by last-quarter revenue ($212.9M vs $129.0M, roughly 1.7× Bowman Consulting Group Ltd.). Bowman Consulting Group Ltd. runs the higher net margin — 1.5% vs -10.2%, a 11.7% gap on every dollar of revenue. On growth, Alphatec Holdings, Inc. posted the faster year-over-year revenue change (20.4% vs 13.9%). Bowman Consulting Group Ltd. produced more free cash flow last quarter ($8.1M vs $7.7M). Over the past eight quarters, Alphatec Holdings, Inc.'s revenue compounded faster (24.0% CAGR vs 16.6%).

Alphatec Holdings, Inc. is a global medical technology company specializing in spinal surgery solutions. It designs, develops and markets spinal implants, surgical instruments and digital surgery platforms for orthopedic and neurosurgical procedures, serving providers across North America, Europe and core Asia-Pacific markets, addressing degeneration, deformity and trauma spinal pathologies.

SLR Consulting is a privately owned international sustainability consultancy with offices in Europe, North America, South America, Australasia, and Africa. In 2019, it reported revenues of £150.8 million. Its purpose is ‘Making Sustainability Happen’, which it achieves through its global team of expert advisors and technicians, who partner with clients to tackle some of the world’s most complex sustainability challenges. Its ultimate owner is Solar Holdings Topco Limited.

ATEC vs BWMN — Head-to-Head

Bigger by revenue
ATEC
ATEC
1.7× larger
ATEC
$212.9M
$129.0M
BWMN
Growing faster (revenue YoY)
ATEC
ATEC
+6.5% gap
ATEC
20.4%
13.9%
BWMN
Higher net margin
BWMN
BWMN
11.7% more per $
BWMN
1.5%
-10.2%
ATEC
More free cash flow
BWMN
BWMN
$421.0K more FCF
BWMN
$8.1M
$7.7M
ATEC
Faster 2-yr revenue CAGR
ATEC
ATEC
Annualised
ATEC
24.0%
16.6%
BWMN

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ATEC
ATEC
BWMN
BWMN
Revenue
$212.9M
$129.0M
Net Profit
$-21.7M
$2.0M
Gross Margin
70.2%
55.0%
Operating Margin
-4.1%
3.2%
Net Margin
-10.2%
1.5%
Revenue YoY
20.4%
13.9%
Net Profit YoY
34.8%
-66.7%
EPS (diluted)
$-0.15
$0.13

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ATEC
ATEC
BWMN
BWMN
Q4 25
$212.9M
$129.0M
Q3 25
$196.5M
$126.0M
Q2 25
$185.5M
$122.1M
Q1 25
$169.2M
$112.9M
Q4 24
$176.8M
$113.2M
Q3 24
$150.7M
$113.9M
Q2 24
$145.6M
$104.5M
Q1 24
$138.5M
$94.9M
Net Profit
ATEC
ATEC
BWMN
BWMN
Q4 25
$-21.7M
$2.0M
Q3 25
$-28.6M
$6.6M
Q2 25
$-41.1M
$6.0M
Q1 25
$-51.9M
$-1.7M
Q4 24
$-33.3M
$5.9M
Q3 24
$-39.6M
$771.0K
Q2 24
$-40.7M
$-2.1M
Q1 24
$-48.5M
$-1.6M
Gross Margin
ATEC
ATEC
BWMN
BWMN
Q4 25
70.2%
55.0%
Q3 25
69.9%
53.1%
Q2 25
69.6%
53.7%
Q1 25
68.6%
51.4%
Q4 24
68.8%
53.2%
Q3 24
68.2%
52.4%
Q2 24
70.5%
52.5%
Q1 24
70.3%
50.6%
Operating Margin
ATEC
ATEC
BWMN
BWMN
Q4 25
-4.1%
3.2%
Q3 25
-8.1%
4.2%
Q2 25
-7.1%
7.4%
Q1 25
-26.2%
1.0%
Q4 24
-13.5%
1.2%
Q3 24
-22.4%
0.4%
Q2 24
-24.3%
-1.2%
Q1 24
-31.3%
-2.8%
Net Margin
ATEC
ATEC
BWMN
BWMN
Q4 25
-10.2%
1.5%
Q3 25
-14.5%
5.3%
Q2 25
-22.2%
4.9%
Q1 25
-30.7%
-1.5%
Q4 24
-18.9%
5.2%
Q3 24
-26.3%
0.7%
Q2 24
-27.9%
-2.0%
Q1 24
-35.0%
-1.6%
EPS (diluted)
ATEC
ATEC
BWMN
BWMN
Q4 25
$-0.15
$0.13
Q3 25
$-0.19
$0.37
Q2 25
$-0.27
$0.34
Q1 25
$-0.35
$-0.11
Q4 24
$-0.22
$0.37
Q3 24
$-0.28
$0.04
Q2 24
$-0.29
$-0.13
Q1 24
$-0.34
$-0.11

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ATEC
ATEC
BWMN
BWMN
Cash + ST InvestmentsLiquidity on hand
$160.8M
$11.1M
Total DebtLower is stronger
$565.9M
$57.6M
Stockholders' EquityBook value
$12.4M
$261.1M
Total Assets
$791.2M
$579.7M
Debt / EquityLower = less leverage
45.54×
0.22×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ATEC
ATEC
BWMN
BWMN
Q4 25
$160.8M
$11.1M
Q3 25
$155.7M
$16.2M
Q2 25
$157.1M
$15.5M
Q1 25
$153.2M
$10.7M
Q4 24
$138.8M
$6.7M
Q3 24
$81.0M
$11.7M
Q2 24
$99.8M
$23.1M
Q1 24
$144.1M
$11.7M
Total Debt
ATEC
ATEC
BWMN
BWMN
Q4 25
$565.9M
$57.6M
Q3 25
$559.7M
$29.8M
Q2 25
$553.9M
$32.0M
Q1 25
$548.4M
$36.4M
Q4 24
$576.2M
$38.1M
Q3 24
$527.7M
$36.4M
Q2 24
$519.2M
$38.8M
Q1 24
$514.4M
$26.8M
Stockholders' Equity
ATEC
ATEC
BWMN
BWMN
Q4 25
$12.4M
$261.1M
Q3 25
$11.5M
$261.8M
Q2 25
$23.8M
$249.6M
Q1 25
$-85.9M
$244.1M
Q4 24
$-14.2M
$246.1M
Q3 24
$-1.4M
$243.2M
Q2 24
$17.1M
$235.6M
Q1 24
$37.6M
$167.3M
Total Assets
ATEC
ATEC
BWMN
BWMN
Q4 25
$791.2M
$579.7M
Q3 25
$787.2M
$510.2M
Q2 25
$790.3M
$538.2M
Q1 25
$785.5M
$528.7M
Q4 24
$775.7M
$505.9M
Q3 24
$745.9M
$497.0M
Q2 24
$768.6M
$463.4M
Q1 24
$774.6M
$420.5M
Debt / Equity
ATEC
ATEC
BWMN
BWMN
Q4 25
45.54×
0.22×
Q3 25
48.64×
0.11×
Q2 25
23.30×
0.13×
Q1 25
0.15×
Q4 24
0.15×
Q3 24
0.15×
Q2 24
30.34×
0.16×
Q1 24
13.70×
0.16×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ATEC
ATEC
BWMN
BWMN
Operating Cash FlowLast quarter
$20.7M
$9.4M
Free Cash FlowOCF − Capex
$7.7M
$8.1M
FCF MarginFCF / Revenue
3.6%
6.3%
Capex IntensityCapex / Revenue
6.1%
0.9%
Cash ConversionOCF / Net Profit
4.76×
TTM Free Cash FlowTrailing 4 quarters
$2.8M
$33.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ATEC
ATEC
BWMN
BWMN
Q4 25
$20.7M
$9.4M
Q3 25
$14.0M
$10.2M
Q2 25
$15.5M
$4.3M
Q1 25
$-5.0M
$12.0M
Q4 24
$10.5M
$11.9M
Q3 24
$-5.3M
$6.8M
Q2 24
$-11.4M
$3.1M
Q1 24
$-38.4M
$2.5M
Free Cash Flow
ATEC
ATEC
BWMN
BWMN
Q4 25
$7.7M
$8.1M
Q3 25
$4.8M
$10.1M
Q2 25
$5.2M
$4.2M
Q1 25
$-15.0M
$11.0M
Q4 24
$8.5M
$11.7M
Q3 24
$-21.2M
$6.6M
Q2 24
$-45.5M
$2.7M
Q1 24
$-69.8M
$2.3M
FCF Margin
ATEC
ATEC
BWMN
BWMN
Q4 25
3.6%
6.3%
Q3 25
2.4%
8.0%
Q2 25
2.8%
3.4%
Q1 25
-8.9%
9.7%
Q4 24
4.8%
10.4%
Q3 24
-14.1%
5.8%
Q2 24
-31.3%
2.6%
Q1 24
-50.4%
2.4%
Capex Intensity
ATEC
ATEC
BWMN
BWMN
Q4 25
6.1%
0.9%
Q3 25
4.7%
0.0%
Q2 25
5.6%
0.1%
Q1 25
5.9%
0.9%
Q4 24
1.1%
0.2%
Q3 24
10.5%
0.2%
Q2 24
23.4%
0.3%
Q1 24
22.6%
0.3%
Cash Conversion
ATEC
ATEC
BWMN
BWMN
Q4 25
4.76×
Q3 25
1.54×
Q2 25
0.71×
Q1 25
Q4 24
2.02×
Q3 24
8.81×
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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