Alphatec Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
ATEC$7.00-5.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2023 · 2022 · 2021 | ||||||
| Operating activities: | ||||||
| Net loss | $(186,638) | $(151,293) | $(143,032) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
| Depreciation and amortization | 56,139 | 41,168 | 26,756 | |||
| Stock-based compensation | 81,244 | 40,556 | 36,450 | |||
| Amortization of debt discount and debt issuance costs | 3,634 | 2,038 | 1,868 | |||
| Amortization of right-of-use assets | 3,543 | 2,760 | 3,418 | |||
| Write-down for excess and obsolete inventories | 13,608 | 9,792 | 11,147 | |||
| Loss on disposal of assets | 3,708 | 2,594 | 1,976 | |||
| Loss on debt extinguishment, net | — | — | 7,434 | |||
| Impairment of investment | — | — | 3,000 | |||
| Other | 455 | 1,187 | 2,721 | |||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (12,795) | (18,832) | (10,141) | |||
| Inventories | (45,562) | (20,704) | (27,746) | |||
| Prepaid expenses and other current assets | (11,098) | 552 | 1,258 | |||
| Other assets | (541) | (109) | 11 | |||
| Accounts payable | 6,989 | 9,796 | 757 | |||
| Accrued expenses and other current liabilities | 17,000 | 13,508 | 8,023 | |||
| Lease liabilities | (3,602) | (2,678) | 150 | |||
| Contract liabilities | 1,793 | (2,280) | (1,040) | |||
| Other long-term liabilities | (6,362) | (3,189) | 3,673 | |||
| Net cash used in operating activities | (78,485) | (75,134) | (73,317) | |||
| Investing activities: | ||||||
| Purchases of property and equipment | (80,508) | (49,453) | (68,544) | |||
| Purchase of intangible assets | (6,467) | (8,827) | — | |||
| Acquisition of business, net of cash acquired | (55,000) | — | (62,133) | |||
| Purchase of OCEANE | — | — | (21,097) | |||
| Cash paid for investments | — | — | (3,000) | |||
| Settlement of forward contract | — | — | (2,988) | |||
| Net cash used in investing activities | (141,975) | (58,280) | (157,762) | |||
| Financing activities: | ||||||
| Proceeds from Revolving Credit Facility and line of credit | 134,000 | 62,500 | — | |||
| Payment of debt issuance costs | (3,321) | (1,315) | (10,028) | |||
| Proceeds from common stock offerings, net of offering costs | 213,181 | — | 131,828 | |||
| Proceeds from issuance of convertible notes | — | — | 316,250 | |||
| Net cash paid for common stock exercises | (1,064) | (3,041) | (5,963) | |||
| Purchase of capped calls | — | — | (39,866) | |||
| Repurchase of common stock | — | — | (25,000) | |||
| Proceeds from term debt, net of debt discount | 148,473 | — | — | |||
| Repayment of Revolving Credit Facility and line of credit | (119,500) | (27,500) | — | |||
| Repayment of OCEANEs | (13,315) | — | — | |||
| Repayment of Squadron Medical Term Loan | — | — | (45,000) | |||
| Repayment of Inventory Financing Agreement | — | — | (8,088) | |||
| Other | (1,535) | 584 | (2,167) | |||
| Net cash provided by financing activities | 356,919 | 31,228 | 311,966 | |||
| Effect of exchange rate changes on cash | (185) | (366) | (1,404) | |||
| Net change in cash and cash equivalents | 136,274 | (102,552) | 79,483 | |||
| Cash and cash equivalents at beginning of year | 84,696 | 187,248 | 107,765 | |||
| Cash and cash equivalents at end of year | $220,970 | $84,696 | $187,248 | |||
| Supplemental disclosure of cash flow information: | ||||||
| Cash paid for interest | $17,269 | $3,860 | $5,027 | |||
| Cash paid for income taxes | $333 | $272 | $223 | |||
| Supplemental disclosure of noncash investing and financing activities: | ||||||
| PPP Loan Forgiveness | $ | - | $ | - | $4,271 | |
| Debt issuance costs | $ | - | $2,760 | $ | - | |
| Financed insurance | $1,328 | $1,959 | $ | - | ||
| Financed property and equipment | $ | - | $600 | $ | - | |
| Financed inventory | $ | - | $ | - | $4,015 | |
| Purchases of property and equipment in accounts payable and accrued expenses | $10,406 | $2,128 | $2,577 | |||
| Purchases of intangible assets | $99 | $750 | $ | - | ||
| Recognition of lease liability | $424 | $1,694 | $23,403 | |||
| Modification of lease liability for lease amendment | $ | - | $4,288 | $ | - | |
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