Breaking Down Xtant Medical Holdings, Inc. (XTNT) Financial Health: Key Insights for Investors

As investors, we're constantly seeking opportunities, but are you truly informed about the financial health of Xtant Medical Holdings, Inc. (XTNT)? Did you know that in 2024, Xtant Medical achieved a revenue of $117.3 million, marking a 28% increase compared to the previous year? While revenue soared, the company reported a net loss of $16.4 million, a stark contrast to the net income of $660,000 the year prior, which included an $11.7 million bargain purchase gain. With a projected revenue between $126 million and $130 million for 2025 and reduced operating expenses by more than $5 million on an annualized basis since the third quarter of 2024, is Xtant Medical poised for a turnaround? Let's delve into the key financial insights that can help you make informed decisions.

Xtant Medical Holdings, Inc. (XTNT) Revenue Analysis

Understanding Xtant Medical Holdings, Inc.'s revenue streams is crucial for investors seeking to assess the company's financial health and growth potential. A detailed breakdown reveals the sources and trends that drive XTNT's financial performance.

Xtant Medical Holdings, Inc. primarily generates revenue through the sale of its regenerative medicine products and surgical implants. These products are utilized in various spinal, orthopedic, and neurological procedures.

Analyzing the year-over-year revenue growth rate provides insights into the company's ability to expand its market presence and increase sales. Recent data indicates fluctuations in XTNT's revenue growth. For example, the total revenue for the year 2023 was $79.9 million, representing an increase of 25.9% compared to $63.5 million in 2022. However, the trend from 2021 to 2022 showed an increase from $58.4 million to $63.5 million.

Here's a summary of revenue by geography for the year ended December 31, 2023 and 2022:

• United States: $72.8 million in 2023 compared to $57.8 million in 2022
• Germany: $3.9 million in 2023 compared to $3.3 million in 2022
• Other International: $3.2 million in 2023 compared to $2.4 million in 2022

The following table shows a consolidated statement of operations (in thousands, except share and per share data):

A significant portion of Xtant Medical Holdings, Inc.'s revenue is attributed to its spinal implant products. These products are used in spinal fusion surgeries to stabilize the spine and promote bone growth. The company also generates revenue from its biologics products, which are used to enhance healing and tissue regeneration.

Changes in revenue streams can be influenced by factors such as product launches, regulatory approvals, and market competition. Investors should monitor these developments to understand their potential impact on XTNT's financial performance. To gain more insight into the company's strategic direction, review Mission Statement, Vision, & Core Values of Xtant Medical Holdings, Inc. (XTNT).

Xtant Medical Holdings, Inc. (XTNT) Profitability Metrics

Assessing the profitability of Xtant Medical Holdings, Inc. (XTNT) requires a detailed look into its gross profit, operating profit, and net profit margins. These metrics provide insights into the company's efficiency in generating profit from its revenue and managing its operational costs.

Based on the 2024 financial data, here's an analysis of Xtant Medical Holdings, Inc.'s profitability:

• Gross Profit: Gross profit represents the revenue remaining after deducting the cost of goods sold (COGS). Analyzing the trend in gross profit helps to understand how efficiently Xtant Medical manages its production costs.
• Operating Profit: Operating profit is calculated by deducting operating expenses from gross profit. Monitoring operating profit reveals how well the company controls its operational costs, such as selling, general, and administrative expenses.
• Net Profit: Net profit is the profit remaining after all expenses, including interest and taxes, have been deducted from revenue. The net profit margin, which is net profit divided by revenue, indicates the overall profitability of Xtant Medical.

To provide a clearer picture, here's a hypothetical table showcasing these metrics (Note: The data below is purely illustrative and should not be considered actual financial data):

Analyzing these trends over time is crucial. For instance, an increasing gross profit margin suggests improved cost management or higher selling prices. Meanwhile, negative operating and net profit margins might indicate challenges in controlling operating expenses or high interest expenses. Comparing these profitability ratios with industry averages provides a benchmark to assess Xtant Medical's performance relative to its peers.

Operational efficiency is also vital. Key indicators include cost management and gross margin trends. Effective cost management can lead to higher gross margins, boosting overall profitability. Monitoring these aspects helps investors gauge the company's ability to improve its financial health.

For more in-depth analysis, you can read the full article here: Breaking Down Xtant Medical Holdings, Inc. (XTNT) Financial Health: Key Insights for Investors

Xtant Medical Holdings, Inc. (XTNT) Debt vs. Equity Structure

Understanding how Xtant Medical Holdings, Inc. (XTNT) finances its growth is crucial for investors. This involves analyzing the company's debt levels, its debt-to-equity ratio, and how it strategically uses debt and equity to fund its operations.

As of December 31, 2023, Xtant Medical Holdings, Inc. (XTNT) reported a total debt of $17.28 million. This includes both short-term and long-term obligations, reflecting the company's strategy to balance immediate financial needs with longer-term investments. According to the recent 10-K filing, the long-term debt is $16.58 million, and the short-term debt is $703,000.

The debt-to-equity ratio is a key metric for evaluating a company's financial leverage. For Xtant Medical Holdings, Inc. (XTNT), the debt-to-equity ratio can provide insights into the extent to which the company is using debt to finance its assets relative to the value of shareholders' equity. A lower ratio generally indicates a more financially stable company. The most recent data indicates a debt-to-equity ratio of 1.12, based on total liabilities of $24.28 million and total equity of $21.68 million. This ratio suggests that debt and equity are reasonably balanced, but it's essential to compare this to industry standards to gauge whether Xtant Medical Holdings, Inc. (XTNT) is in line with its peers.

Recent financial activities, such as debt issuances or refinancing, can significantly impact a company's capital structure. While specific details on recent credit ratings or refinancing activities would provide further clarity, understanding these actions helps investors assess the company's financial management and its ability to secure favorable financing terms.

Balancing debt and equity is a strategic decision for Xtant Medical Holdings, Inc. (XTNT). Debt financing can provide capital for growth without diluting ownership, but it also introduces fixed interest payments and the risk of financial distress if not managed carefully. Equity funding, on the other hand, strengthens the balance sheet but can dilute existing shareholders' ownership.

Here's a snapshot of Xtant Medical Holdings, Inc. (XTNT)'s debt structure:

For a deeper dive into who is investing in Xtant Medical Holdings, Inc. (XTNT) and their motivations, check out: Exploring Xtant Medical Holdings, Inc. (XTNT) Investor Profile: Who’s Buying and Why?

Xtant Medical Holdings, Inc. (XTNT) Liquidity and Solvency

Analyzing Xtant Medical Holdings, Inc. (XTNT)'s financial health requires a close look at its liquidity and solvency. Liquidity refers to the company's ability to meet its short-term obligations, while solvency assesses its ability to meet long-term obligations.

Assessing Xtant Medical Holdings, Inc.'s Liquidity:

Key indicators of liquidity include the current and quick ratios, trends in working capital, and cash flow patterns. These metrics provide insights into whether XTNT has sufficient liquid assets to cover its immediate liabilities.

• Current and Quick Ratios: These ratios measure a company's ability to pay off short-term liabilities with its current assets. The current ratio includes all current assets, while the quick ratio excludes inventory, which is considered less liquid.
• Analysis of Working Capital Trends: Monitoring changes in working capital (current assets minus current liabilities) can reveal whether a company's short-term financial health is improving or deteriorating.
• Cash Flow Statements Overview: Examining the cash flow statement, specifically cash flow from operating, investing, and financing activities, offers a clear picture of how XTNT generates and uses cash.

Cash Flow Analysis

A review of Xtant Medical Holdings, Inc.'s cash flow statements provides insights into the company's financial activities. Here's a breakdown:

• Operating Cash Flow: Reflects the cash generated from the company's core business operations.
• Investing Cash Flow: Includes cash used for investments in assets, such as property, plant, and equipment.
• Financing Cash Flow: Involves cash flow related to debt, equity, and dividends.

For the fiscal year 2024, a thorough analysis of these cash flow components is essential to understand Xtant Medical Holdings, Inc.'s overall financial stability. By examining these key indicators, investors and analysts can gain a comprehensive understanding of Xtant Medical Holdings, Inc.'s ability to manage its short-term and long-term financial obligations.

Potential liquidity concerns or strengths can be identified by comparing these ratios and trends to industry benchmarks and historical data. For example, a declining current ratio or negative operating cash flow could signal potential liquidity issues.

Here is more information about Xtant Medical Holdings, Inc. (XTNT)'s Financial Health: Breaking Down Xtant Medical Holdings, Inc. (XTNT) Financial Health: Key Insights for Investors

Xtant Medical Holdings, Inc. (XTNT) Valuation Analysis

Assessing whether Xtant Medical Holdings, Inc. (XTNT) is overvalued or undervalued requires a multifaceted approach, incorporating various financial ratios and market data. Here's a breakdown of key valuation metrics to provide investors with comprehensive insights. You can also find more in-depth analysis at: Breaking Down Xtant Medical Holdings, Inc. (XTNT) Financial Health: Key Insights for Investors.

Valuation Ratios:

• Price-to-Earnings (P/E) Ratio: As of April 2025, XTNT's P/E ratio is negative, at -4.1x, because the company has negative earnings.
• Price-to-Book (P/B) Ratio: The P/B ratio stands at 1.22, suggesting that the market values the company at slightly more than its book value.
• Enterprise Value-to-EBITDA (EV/EBITDA): The EV/EBITDA ratio is -10.9x. This negative value suggests that the company's earnings before interest, taxes, depreciation, and amortization are also negative.

Stock Price Trends:

• 52-Week Range: Over the past 52 weeks, XTNT's stock price has fluctuated between $0.33 and $0.97.
• Recent Performance: As of April 17, 2025, the stock price was around $0.42.

Dividend Information:

• Dividend Yield: Xtant Medical Holdings, Inc. does not currently offer a dividend.

Analyst Consensus:

• Rating: The analyst consensus on XTNT is a Moderate Buy.
• Price Target: The average analyst price target is $2.00, with some analysts having a $3.00 target.

Additional Financial Metrics:

Revenue and Earnings:

For the full year 2024, Xtant Medical reported revenue of $117.3 million, a 28% increase compared to the previous year. However, the company experienced a net loss of $16.4 million, compared to a net income of $660,000 in the prior year (which included a $11.7 million bargain purchase gain). The adjusted EBITDA loss for 2024 was $2.3 million, compared to a $1.4 million loss in 2023.

Important Considerations:

• Analyst Ratings: Analysts predict substantial upside potential, with price targets significantly higher than the current stock price.
• Risk Factors: Investors should consider factors such as the company's profitability challenges and past financial performance.

Xtant Medical Holdings, Inc. (XTNT) Risk Factors

Understanding the risks associated with Xtant Medical Holdings, Inc. (XTNT) is crucial for investors. These risks can be broadly categorized into internal and external factors that could impact the company's financial health. Here's an overview:

Industry Competition: The medical device industry is intensely competitive. Xtant Medical faces competition from larger companies with greater financial, technical, marketing, and other resources. Intense competition could lead to pricing pressures, reduced sales, and decreased market share.

Regulatory Changes: The medical device industry is heavily regulated by the FDA and other regulatory bodies. Changes in regulations or the introduction of new regulations could increase compliance costs, delay product approvals, and negatively impact the company's ability to market its products.

Market Conditions: Economic downturns, changes in healthcare spending, and other macroeconomic factors can affect the demand for Xtant Medical's products. Unfavorable market conditions could lead to decreased sales and profitability.

Operational Risks: These include risks related to manufacturing, supply chain disruptions, and product recalls. Any significant operational issues could disrupt the company's ability to deliver products to customers and harm its reputation.

Financial Risks: Xtant Medical's financial health is subject to risks related to its capital structure, debt levels, and ability to generate cash flow. The company's ability to meet its financial obligations and fund its operations depends on its financial performance and access to capital markets.

Strategic Risks: These involve risks associated with the company's business strategy, including acquisitions, partnerships, and new product development. Poorly executed strategic initiatives could lead to financial losses and damage the company's competitive position.

Risks Highlighted in Recent Filings: According to the company's 10-K filing for the fiscal year ended December 31, 2023, Xtant Medical highlights several key risk factors, including:

• Limited Operating History: The company has a limited operating history, making it difficult to evaluate its future prospects.
• Dependence on Key Products: A significant portion of the company's revenue is derived from a limited number of products, making it vulnerable to product obsolescence or decreased demand.
• Reimbursement Risk: Changes in healthcare reimbursement policies could reduce the prices that hospitals and other healthcare providers are willing to pay for the company's products.

Mitigation Strategies: While specific mitigation strategies are not always detailed in public filings, companies like Xtant Medical typically employ several strategies to manage these risks:

• Diversification: Expanding product lines and entering new markets to reduce dependence on specific products or regions.
• Compliance Programs: Implementing robust compliance programs to ensure adherence to regulatory requirements.
• Supply Chain Management: Diversifying suppliers and implementing risk management strategies to mitigate supply chain disruptions.
• Financial Planning: Maintaining a strong balance sheet and managing debt levels to ensure financial stability.
• Strategic Partnerships: Collaborating with other companies to share risks and resources.

Investors should carefully consider these risk factors when evaluating Xtant Medical Holdings, Inc. (XTNT). Understanding these risks is essential for making informed investment decisions.

To gain more insight into the company's direction, explore the Mission Statement, Vision, & Core Values of Xtant Medical Holdings, Inc. (XTNT).

Xtant Medical Holdings, Inc. (XTNT) Growth Opportunities

Xtant Medical Holdings, Inc. (XTNT) faces a dynamic landscape with several growth drivers and strategic initiatives that could shape its future performance. Analysis of these factors provides insights into the company's potential trajectory.

Key growth drivers for Xtant Medical include:

• Product Innovations: Xtant Medical focuses on developing and commercializing innovative regenerative medicine products and surgical implants.
• Market Expansion: Expanding into new geographical markets and increasing penetration in existing markets are crucial for revenue growth.
• Acquisitions: Strategic acquisitions can broaden the product portfolio and market reach.

Future revenue growth projections and earnings estimates depend on several factors, including the successful launch of new products, market acceptance, and the overall economic environment.

Strategic initiatives and partnerships that may drive future growth:

• Partnerships: Collaborations with other companies can provide access to new technologies and markets.
• Distribution Agreements: Expanding the distribution network can increase product availability and sales.

Xtant Medical's competitive advantages that position the company for growth:

• Proprietary Technologies: Unique technologies in regenerative medicine can provide a competitive edge.
• Established Relationships: Strong relationships with surgeons and hospitals can drive product adoption.

More information on Xtant Medical Holdings, Inc. (XTNT) financial health can be found here: Breaking Down Xtant Medical Holdings, Inc. (XTNT) Financial Health: Key Insights for Investors