A Business at a Glance
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Xtant Medical Holdings, Inc.
XTNT
$71M
Mkt Cap
$0.43
-0.30%
Xtant Medical Holdings, Inc. (XTNT) has a 5-year average return on invested capital (ROIC) of -10.6%. This is below average and may indicate limited pricing power.
Xtant Medical Holdings, Inc. (XTNT) has a market capitalization of $71M. It is classified as a small-cap stock.
Xtant Medical Holdings, Inc. (XTNT) does not currently pay a regular dividend.
Xtant Medical Holdings, Inc. (XTNT) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
Xtant Medical Holdings, Inc. (XTNT) reported annual revenue of $134 million in its most recent fiscal year, based on SEC EDGAR filings.
Xtant Medical Holdings, Inc. (XTNT) has a net profit margin of 3.7%. This is a modest margin.
Xtant Medical Holdings, Inc. (XTNT) generated $10 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Item 1. Business Xtant Medical Holdings, Inc. is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics and spinal implant fixation systems to facilitate spinal fusion in complex spine, deformity, and degenerative procedures. Our products are used by orthopedic spine surgeons and neurosurgeons to treat a variety of spinal disorders in the cervical, thoracolumbar, and interbody spine. We promote our products in the United States through independent distributors and stocking agents, supported by direct employees. We have an extensive sales channel of independent commissioned agents and stocking distributors in the United States representing some or all of our products. We also maintain a national accounts program to enable our agents to gain access to integrated delivery network (“IDNs”) hospitals and through group purchasing organizations (“GPOs”).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 134M | 134M | 117M | 91M | 58M | 55M |
| Net Income | 5.0M | 5.0M | -16M | 660K | -8.5M | -4.8M |
| EPS | $0.03 | $0.03 | $-0.12 | $0.01 | $-0.09 | $-0.06 |
| Free Cash Flow | 10M | 10M | -16M | -11M | -7.1M | -1.7M |
| ROIC | 7.9% | 7.1% | -24.6% | 1.2% | -19.6% | -16.9% |
| Gross Margin | 62.9% | 62.9% | 58.2% | 60.8% | 55.4% | 58.8% |
| Debt/Equity | 0.62 | 0.62 | 1.05 | 0.70 | 0.74 | 0.42 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | $0.00 |
| Operating Income | 7.3M | 7.3M | -12M | -10M | -6.8M | -3.9M |
| Operating Margin | 5.4% | 5.4% | -10.3% | -11.1% | -11.7% | -7.0% |
| ROE | 9.8% | 10.6% | -34.9% | 1.5% | -26.1% | -21.4% |
| Shares Outstanding | 166M | 166M | 137M | 66M | 94M | 81M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 35M | 59M | 90M | 83M | 72M | 65M | 53M | 55M | 58M | 91M | 117M | 134M | 134M |
| Gross Margin | 63.1% | 65.9% | 69.2% | 60.6% | 60.2% | 65.7% | 64.5% | 58.8% | 55.4% | 60.8% | 58.2% | 62.9% | 62.9% |
| R&D | 1.4M | 2.5M | 3.4M | 2.4M | 1.7M | 932K | 657K | 870K | 915K | 1.3M | 2.4M | 2.1M | 2.1M |
| SG&A | 8.9M | 13M | 16M | 15M | 14M | 17M | 14M | 14M | 15M | 26M | 29M | 29M | 29M |
| EBIT | -6.3M | -12M | -7.5M | -38M | -60M | -2.3M | -751K | -3.9M | -6.8M | -10M | -12M | 7.3M | 7.3M |
| Op. Margin | -17.7% | -20.4% | -8.4% | -45.8% | -83.2% | -3.5% | -1.4% | -7.0% | -11.7% | -11.1% | -10.3% | 5.4% | 5.4% |
| Net Income | -11M | -2.2M | -19M | -52M | -70M | -8.2M | -7.0M | -4.8M | -8.5M | 660K | -16M | 5.0M | 5.0M |
| Net Margin | -29.7% | -3.7% | -21.7% | -63.4% | -97.1% | -12.7% | -13.2% | -8.8% | -14.6% | 0.7% | -14.0% | 3.7% | 3.7% |
| Non-Recurring | 887K | 831K | -25K | 22M | 41M | 61K | 369K | 925K | 1.9M | 472K | 749K | 3.4M | 3.4M |
| Returns on Capital | |||||||||||||
| ROIC | -82.0% | -6.5% | -23.5% | -86.9% | -170.7% | -7.9% | -2.6% | -16.9% | -19.6% | 1.2% | -24.6% | 7.1% | 7.9% |
| ROE | 180.9% | -394.8% | N/A | 159.4% | 136.8% | 18.7% | 47.3% | -21.4% | -26.1% | 1.5% | -34.9% | 10.6% | 9.8% |
| ROA | -37.0% | -2.6% | -13.7% | -42.0% | -92.2% | -18.4% | -16.6% | -10.1% | -14.8% | 0.9% | -17.6% | 5.3% | 5.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -7.3M | -9.1M | -14M | -543K | 1.2M | -413K | -731K | 439K | -5.3M | -9.5M | -12M | 13M | 13M |
| Free Cash Flow | -7.6M | -11M | -20M | -2.2M | 588K | -1.3M | -2.3M | -1.7M | -7.1M | -11M | -16M | 10M | 10M |
| Owner Earnings | -9.2M | -15M | -22M | -9.2M | -6.1M | -4.1M | -3.9M | -3.1M | -9.1M | -15M | -20M | 4.4M | 4.4M |
| CapEx | 300K | 2.3M | 5.8M | 1.6M | 624K | 879K | 1.5M | 2.1M | 1.8M | 1.5M | 4.1M | 2.4M | 2.4M |
| Maint. CapEx | 952K | 4.9M | 7.2M | 8.4M | 6.6M | 3.1M | 2.1M | 1.3M | 1.3M | 3.2M | 4.2M | 5.2M | 5.2M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 783K | 472K | 0 | 0 | 0 | 0 |
| D&A | 952K | 4.9M | 7.2M | 8.4M | 6.6M | 3.1M | 2.1M | 1.3M | 1.3M | 3.2M | 4.2M | 5.2M | 5.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 19.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 935K | 837K | 523K | 212K | 694K | 515K | 1.1M | 2.2M | 2.5M | 2.7M | 4.1M | 2.9M | 2.9M |
| Debt Repayment | 653K | 1.3M | 0 | 0 | 359K | 455K | 315K | 411K | 0 | 239K | 651K | 8.0M | 8.0M |
| Balance Sheet | |||||||||||||
| Net Debt | 16M | 38M | 117M | 79M | 72M | 73M | 16M | -5.1M | 5.2M | 30M | 39M | 15M | 15M |
| Cash & Equiv. | 4.5M | 6.4M | 2.6M | 2.9M | 6.8M | 5.2M | 2.3M | 18M | 20M | 5.7M | 6.2M | 17M | 17M |
| Long-Term Debt | 21M | 45M | 119M | 67M | 78M | 76M | 315K | 12M | 9.7M | 17M | 22M | 11M | 11M |
| Debt/Equity | -2.69 | 5.04 | -16.85 | -1.40 | -1.79 | -1.78 | 1.30 | 0.42 | 0.74 | 0.70 | 1.05 | 0.62 | 0.62 |
| Interest Coverage | -1.1 | -1.6 | -0.6 | -2.6 | -5.9 | -0.4 | -0.1 | -3.9 | -4.0 | -3.5 | -2.9 | 2.0 | 2.0 |
| Equity | -7.8M | 8.9M | -7.1M | -59M | -44M | -44M | 15M | 31M | 34M | 51M | 43M | 51M | 51M |
| Total Assets | 28M | 141M | 144M | 106M | 46M | 43M | 41M | 55M | 60M | 93M | 94M | 94M | 94M |
| Total Liabilities | 36M | 132M | 151M | 164M | 90M | 87M | 27M | 24M | 26M | 41M | 51M | 43M | 43M |
| Intangibles | 655K | 40M | 36M | 14M | 573K | 515K | 457K | 400K | 344K | 10M | 8.4M | 299K | 299K |
| Retained Earnings | -71M | -73M | -93M | -145M | -215M | -223M | -230M | -235M | -244M | -243M | -259M | -254M | -254M |
| Working Capital | 11M | 24M | 18M | 14M | 23M | 23M | 5.7M | 33M | 34M | 42M | 39M | 49M | 49M |
| Current Assets | 19M | 45M | 49M | 40M | 35M | 32M | 31M | 44M | 49M | 65M | 67M | 78M | 78M |
| Current Liabilities | 8.5M | 21M | 31M | 26M | 12M | 9.4M | 26M | 11M | 15M | 23M | 29M | 29M | 29M |
| Per Share Data | |||||||||||||
| EPS | -0.35 | -0.05 | -3.69 | -6.95 | -1.19 | -0.13 | -0.09 | -0.06 | -0.09 | 0.01 | -0.12 | 0.03 | 0.03 |
| Owner EPS | -0.31 | -0.33 | -4.20 | -1.22 | -0.10 | -0.06 | -0.05 | -0.04 | -0.10 | -0.23 | -0.15 | 0.03 | 0.03 |
| Book Value | -0.26 | 0.20 | -1.34 | -7.79 | -0.75 | -0.68 | 0.19 | 0.38 | 0.36 | 0.78 | 0.31 | 0.31 | 0.31 |
| Cash Flow/Share | -0.25 | -0.20 | -2.73 | -0.07 | 0.02 | -0.01 | -0.01 | 0.01 | -0.06 | -0.14 | -0.09 | 0.08 | 0.06 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.00 | 0.00 | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 29.9M | 45.3M | 5.3M | 7.5M | 58.7M | 65.2M | 77.6M | 80.8M | 94.3M | 66.0M | 137.1M | 165.8M | 165.8M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 120.0 | N/A | N/A | 14.3 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 11.8 |
| Price/Book | N/A | 2.6 | N/A | N/A | N/A | N/A | N/A | N/A | 1.7 | 1.5 | 1.5 | N/A | 1.4 |
| Price/Sales | 1.0 | 0.5 | 3.1 | 1.2 | N/A | N/A | N/A | N/A | 1.0 | 0.7 | 0.9 | N/A | 0.5 |
| FCF Yield | -50.1% | -50.0% | -21.9% | -2.4% | N/A | N/A | N/A | N/A | -12.0% | -13.9% | -25.4% | N/A | 14.3% |
| Market Cap | 15M | 23M | 93M | 89M | 0 | 0 | 0 | 0 | 59M | 79M | 63M | 0 | 71M |
| Avg. Price | 68.12 | 41.34 | 21.35 | 7.41 | 0.00 | 0.00 | 0.00 | 0.00 | 0.61 | 0.91 | 0.76 | 0.00 | 0.43 |
| Year-End Price | 30.60 | 30.12 | 7.08 | 6.84 | 0.00 | 0.00 | 0.00 | 0.00 | 0.63 | 1.20 | 0.46 | 0.00 | 0.43 |
Xtant Medical Holdings, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 59.2%.
Xtant Medical Holdings, Inc. (XTNT) has a debt-to-equity ratio of 0.62. This indicates moderate leverage.
Xtant Medical Holdings, Inc. (XTNT) reported earnings per share (EPS) of $0.03 in its most recent fiscal year.
Xtant Medical Holdings, Inc. (XTNT) has a return on equity (ROE) of 10.6%. This indicates moderate shareholder returns.
Xtant Medical Holdings, Inc. (XTNT) has a 5-year average gross margin of 59.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for Xtant Medical Holdings, Inc. (XTNT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Xtant Medical Holdings, Inc. (XTNT) has a book value per share of $0.31, based on its most recent annual SEC filing.