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Side-by-side financial comparison of Alphatec Holdings, Inc. (ATEC) and Phoenix Education Partners, Inc. (PXED). Click either name above to swap in a different company.

Phoenix Education Partners, Inc. is the larger business by last-quarter revenue ($222.5M vs $212.9M, roughly 1.0× Alphatec Holdings, Inc.). Phoenix Education Partners, Inc. runs the higher net margin — 4.8% vs -10.2%, a 15.1% gap on every dollar of revenue. Phoenix Education Partners, Inc. produced more free cash flow last quarter ($43.5M vs $7.7M).

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.

The University of Phoenix (UoPX) is a private for-profit university headquartered in Phoenix, Arizona. Founded in 1976, the university confers certificates and degrees at the certificate, associate, bachelor's, master's, and doctoral degree levels. It is institutionally accredited by the Higher Learning Commission and has an open enrollment admissions policy for many undergraduate programs. The school is owned by Phoenix Education Partners.

ATEC vs PXED — Head-to-Head

Bigger by revenue
PXED
PXED
1.0× larger
PXED
$222.5M
$212.9M
ATEC
Higher net margin
PXED
PXED
15.1% more per $
PXED
4.8%
-10.2%
ATEC
More free cash flow
PXED
PXED
$35.8M more FCF
PXED
$43.5M
$7.7M
ATEC

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
ATEC
ATEC
PXED
PXED
Revenue
$212.9M
$222.5M
Net Profit
$-21.7M
$10.8M
Gross Margin
70.2%
Operating Margin
-4.1%
6.3%
Net Margin
-10.2%
4.8%
Revenue YoY
20.4%
Net Profit YoY
34.8%
EPS (diluted)
$-0.15
$0.28

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
PXED
PXED
Q1 26
$222.5M
Q4 25
$212.9M
$262.0M
Q3 25
$196.5M
Q2 25
$185.5M
Q1 25
$169.2M
Q4 24
$176.8M
Q3 24
$150.7M
Q2 24
$145.6M
Net Profit
ATEC
ATEC
PXED
PXED
Q1 26
$10.8M
Q4 25
$-21.7M
$15.5M
Q3 25
$-28.6M
Q2 25
$-41.1M
Q1 25
$-51.9M
Q4 24
$-33.3M
Q3 24
$-39.6M
Q2 24
$-40.7M
Gross Margin
ATEC
ATEC
PXED
PXED
Q1 26
Q4 25
70.2%
Q3 25
69.9%
Q2 25
69.6%
Q1 25
68.6%
Q4 24
68.8%
Q3 24
68.2%
Q2 24
70.5%
Operating Margin
ATEC
ATEC
PXED
PXED
Q1 26
6.3%
Q4 25
-4.1%
9.8%
Q3 25
-8.1%
Q2 25
-7.1%
Q1 25
-26.2%
Q4 24
-13.5%
Q3 24
-22.4%
Q2 24
-24.3%
Net Margin
ATEC
ATEC
PXED
PXED
Q1 26
4.8%
Q4 25
-10.2%
5.9%
Q3 25
-14.5%
Q2 25
-22.2%
Q1 25
-30.7%
Q4 24
-18.9%
Q3 24
-26.3%
Q2 24
-27.9%
EPS (diluted)
ATEC
ATEC
PXED
PXED
Q1 26
$0.28
Q4 25
$-0.15
$0.40
Q3 25
$-0.19
Q2 25
$-0.27
Q1 25
$-0.35
Q4 24
$-0.22
Q3 24
$-0.28
Q2 24
$-0.29

Balance Sheet & Financial Strength

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

Metric
ATEC
ATEC
PXED
PXED
Cash + ST InvestmentsLiquidity on hand
$160.8M
$201.4M
Total DebtLower is stronger
$565.9M
$58.8M
Stockholders' EquityBook value
$12.4M
$291.1M
Total Assets
$791.2M
$546.4M
Debt / EquityLower = less leverage
45.54×
0.20×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ATEC
ATEC
PXED
PXED
Q1 26
$201.4M
Q4 25
$160.8M
$163.5M
Q3 25
$155.7M
Q2 25
$157.1M
Q1 25
$153.2M
Q4 24
$138.8M
Q3 24
$81.0M
Q2 24
$99.8M
Total Debt
ATEC
ATEC
PXED
PXED
Q1 26
$58.8M
Q4 25
$565.9M
$61.6M
Q3 25
$559.7M
Q2 25
$553.9M
Q1 25
$548.4M
Q4 24
$576.2M
Q3 24
$527.7M
Q2 24
$519.2M
Stockholders' Equity
ATEC
ATEC
PXED
PXED
Q1 26
$291.1M
Q4 25
$12.4M
$280.4M
Q3 25
$11.5M
Q2 25
$23.8M
Q1 25
$-85.9M
Q4 24
$-14.2M
Q3 24
$-1.4M
Q2 24
$17.1M
Total Assets
ATEC
ATEC
PXED
PXED
Q1 26
$546.4M
Q4 25
$791.2M
$549.6M
Q3 25
$787.2M
Q2 25
$790.3M
Q1 25
$785.5M
Q4 24
$775.7M
Q3 24
$745.9M
Q2 24
$768.6M
Debt / Equity
ATEC
ATEC
PXED
PXED
Q1 26
0.20×
Q4 25
45.54×
0.22×
Q3 25
48.64×
Q2 25
23.30×
Q1 25
Q4 24
Q3 24
Q2 24
30.34×

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
PXED
PXED
Operating Cash FlowLast quarter
$20.7M
$48.9M
Free Cash FlowOCF − Capex
$7.7M
$43.5M
FCF MarginFCF / Revenue
3.6%
19.6%
Capex IntensityCapex / Revenue
6.1%
2.4%
Cash ConversionOCF / Net Profit
4.53×
TTM Free Cash FlowTrailing 4 quarters
$2.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ATEC
ATEC
PXED
PXED
Q1 26
$48.9M
Q4 25
$20.7M
$31.1M
Q3 25
$14.0M
Q2 25
$15.5M
Q1 25
$-5.0M
Q4 24
$10.5M
Q3 24
$-5.3M
Q2 24
$-11.4M
Free Cash Flow
ATEC
ATEC
PXED
PXED
Q1 26
$43.5M
Q4 25
$7.7M
$26.4M
Q3 25
$4.8M
Q2 25
$5.2M
Q1 25
$-15.0M
Q4 24
$8.5M
Q3 24
$-21.2M
Q2 24
$-45.5M
FCF Margin
ATEC
ATEC
PXED
PXED
Q1 26
19.6%
Q4 25
3.6%
10.1%
Q3 25
2.4%
Q2 25
2.8%
Q1 25
-8.9%
Q4 24
4.8%
Q3 24
-14.1%
Q2 24
-31.3%
Capex Intensity
ATEC
ATEC
PXED
PXED
Q1 26
2.4%
Q4 25
6.1%
1.8%
Q3 25
4.7%
Q2 25
5.6%
Q1 25
5.9%
Q4 24
1.1%
Q3 24
10.5%
Q2 24
23.4%
Cash Conversion
ATEC
ATEC
PXED
PXED
Q1 26
4.53×
Q4 25
2.01×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24

Financial Flow Comparison

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

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