Dafinchi AI

Alphatec Holdings, Inc.

ATEC

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA reached a record $23 million, or 13% of revenue, marking a 4x improvement over the prior year same quarter.
Cash on hand was $157 million with an additional $60 million available on revolving credit, totaling $217 million in liquidity.
Free cash flow was $5 million, at the favorable end of the previously communicated $0 to $5 million range.
Non-GAAP gross margin was 70%, flat sequentially but down 130 basis points year-over-year due to product mix and biologics attach rate.
Non-GAAP R&D expense was $14 million, approximately 8% of sales, reflecting increased investment in long-term growth.
Non-GAAP SG&A was $108 million, about 58% of sales, down $4 million sequentially with improvements in variable and nonvariable expenses.
Q2 2025 total revenue was $186 million, up 27% year-over-year, with surgical revenue growing 29% to $168 million.
Trailing 12 months adjusted EBITDA stood at $62 million, demonstrating consistent margin expansion.

U.S. Physical Therapy, Inc.

USPH

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA rose to $26.9 million, up $4.7 million from the second quarter of 2024, with an EBITDA margin expansion to 17.5% from 16.4%.
Injury Injury Prevention (IIP) revenues grew 22.6% with gross profit up 25.8% compared to the prior year quarter.
Net rate per patient visit was $105.33, slightly ahead of last year's $105.05 despite Medicare rate reductions and payer policy changes in Michigan.
Physical therapy gross profit margin improved to 21.1%, the highest since Q2 2023.
Physical therapy revenues increased 17.3% year-over-year to $168.3 million, driven largely by acquisitions including the Metro PT acquisition.
Salaries and related costs per visit increased slightly by 0.7%, the smallest increase since Q4 2023, while total operating cost per visit decreased year-over-year.
U.S. Physical Therapy reported a record second quarter 2025 with average visits per clinic per day reaching 32.7, up from 30.6 in the prior year.

Geron Corporation

GERN

Healthcare

1w

Financial Performance Summary

Cash and marketable securities stood at approximately $433 million as of June 30, 2025, down from $503 million at the end of 2024.
Geron reported Q2 2025 net product revenue of $49 million, a 24% increase over Q1 driven by increased demand from new patient starts.
Gross to net deductions remained in the mid-teens percent range, consistent with prior guidance.
Research and development expenses decreased to $22 million in Q2 2025 from $31 million in Q2 2024, primarily due to lower clinical trial costs post FDA approval of RYTELO.
Selling, general and administrative expenses remained steady at $39 million compared to the prior year period.

Madrigal Pharmaceuticals, Inc.

MDGL

Healthcare

1w

Financial Performance Summary

Madrigal Pharmaceuticals reported net sales of $212.8 million in Q2 2025, a 55% increase quarter-over-quarter.
R&D expenses decreased to $54.1 million from $71.1 million year-over-year due to lower clinical trial costs.
SG&A expenses increased to $196.9 million from $105.4 million year-over-year, driven by commercial launch activities.
The company ended Q2 2025 with $802 million in cash and equivalents and secured a $500 million senior secured credit facility.
U.S. Rezdiffra net sales are annualizing at over $800 million.