Xtant Medical (XTNT)
Market Price (6/15/2026): $0.445 | Market Cap: $62.3 MilSector: Health Care | Industry: Life Sciences Tools & Services
Xtant Medical (XTNT)
Market Price (6/15/2026): $0.445Market Cap: $62.3 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -38% Attractive yieldFCF Yield is 13% Megatrend and thematic driversMegatrends include Advanced Orthopedic & Spine Care, and Aging Population & Chronic Disease. Themes include Spinal Surgical Implants, Orthobiologics for Tissue Repair, Show more. | Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -107% | Penny stockMkt Price is 0.4 Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 34x Weak revenue growthRev Chg QQuarterly Revenue Change % is -37% Key risksXTNT key risks include [1] the challenge of sustaining profitability and revenue growth once a one-time licensing revenue spike normalizes, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -38% |
| Attractive yieldFCF Yield is 13% |
| Megatrend and thematic driversMegatrends include Advanced Orthopedic & Spine Care, and Aging Population & Chronic Disease. Themes include Spinal Surgical Implants, Orthobiologics for Tissue Repair, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -107% |
| Penny stockMkt Price is 0.4 |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 34x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -37% |
| Key risksXTNT key risks include [1] the challenge of sustaining profitability and revenue growth once a one-time licensing revenue spike normalizes, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Xtant Medical (XTNT) stock has lost about 25% since 2/28/2026 because of the following key factors:
1. Significant Revenue Contraction Following Strategic Divestitures.
Xtant Medical experienced a substantial 37% year-over-year decrease in revenue for fiscal Q1 2026, falling to $20.9 million from $32.9 million in fiscal Q1 2025. This sharp decline was primarily a consequence of the strategic divestiture of the lower-margin Coflex/CoFix spinal implant systems and the international hardware business in December 2025, as the company aims to become a pure-play regenerative biologics firm.
2. Loss of High-Margin License Revenue and Resultant Gross Margin Compression.
The company faced further revenue headwinds from the loss of $3.6 million in high-margin license revenue due to reimbursement changes that became effective on January 1, 2026. This cessation of Q-code license revenue from amniotic membrane agreements, particularly those tied to the advanced wound care market, directly contributed to a decline in gross margin from 61.5% in fiscal Q1 2025 to 57.3% in fiscal Q1 2026.
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Stock Movement Drivers
Fundamental Drivers
The -22.8% change in XTNT stock from 2/28/2026 to 6/14/2026 was primarily driven by a -25.8% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.57 | 0.44 | -22.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 133 | 122 | -8.4% |
| Net Income Margin (%) | 1.3% | 1.5% | 13.8% |
| P/E Multiple | 45.5 | 33.7 | -25.8% |
| Shares Outstanding (Mil) | 140 | 140 | -0.2% |
| Cumulative Contribution | -22.8% |
Market Drivers
2/28/2026 to 6/14/2026| Return | Correlation | |
|---|---|---|
| XTNT | -22.8% | |
| Market (SPY) | 8.4% | 7.7% |
| Sector (XLV) | -3.6% | 12.7% |
Fundamental Drivers
The -25.5% change in XTNT stock from 11/30/2025 to 6/14/2026 was primarily driven by a -28.3% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.59 | 0.44 | -25.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 133 | 122 | -8.4% |
| Net Income Margin (%) | 1.3% | 1.5% | 13.8% |
| P/E Multiple | 47.1 | 33.7 | -28.3% |
| Shares Outstanding (Mil) | 140 | 140 | -0.2% |
| Cumulative Contribution | -25.5% |
Market Drivers
11/30/2025 to 6/14/2026| Return | Correlation | |
|---|---|---|
| XTNT | -25.5% | |
| Market (SPY) | 9.2% | -1.2% |
| Sector (XLV) | -1.6% | -3.6% |
Fundamental Drivers
The -33.4% change in XTNT stock from 5/31/2025 to 6/14/2026 was primarily driven by a -32.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.66 | 0.44 | -33.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 122 | 122 | -0.3% |
| P/S Multiple | 0.8 | 0.5 | -32.7% |
| Shares Outstanding (Mil) | 139 | 140 | -0.7% |
| Cumulative Contribution | -33.4% |
Market Drivers
5/31/2025 to 6/14/2026| Return | Correlation | |
|---|---|---|
| XTNT | -33.4% | |
| Market (SPY) | 27.3% | 14.8% |
| Sector (XLV) | 18.0% | -1.8% |
Fundamental Drivers
The -28.8% change in XTNT stock from 5/31/2023 to 6/14/2026 was primarily driven by a -52.7% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.62 | 0.44 | -28.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 63 | 122 | 93.7% |
| P/S Multiple | 1.1 | 0.5 | -52.7% |
| Shares Outstanding (Mil) | 109 | 140 | -22.3% |
| Cumulative Contribution | -28.8% |
Market Drivers
5/31/2023 to 6/14/2026| Return | Correlation | |
|---|---|---|
| XTNT | -28.8% | |
| Market (SPY) | 84.5% | 15.4% |
| Sector (XLV) | 26.5% | 7.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| XTNT Return | -53% | 18% | 71% | -61% | 77% | -45% | -64% |
| Peers Return | -7% | -28% | 19% | 40% | 12% | -17% | 4% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| XTNT Win Rate | 42% | 42% | 50% | 42% | 67% | 0% | |
| Peers Win Rate | 46% | 48% | 57% | 57% | 42% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| XTNT Max Drawdown | -87% | -48% | -51% | -73% | -38% | -45% | |
| Peers Max Drawdown | -39% | -59% | -49% | -32% | -42% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OFIX, ATEC, GMED, BVS, VCEL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)
How Low Can It Go
| Event | XTNT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.7% | -18.8% |
| % Gain to Breakeven | 58.1% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.9% | -7.8% |
| % Gain to Breakeven | 13.6% | 8.5% |
| Time to Breakeven | 14 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.6% | -6.7% |
| % Gain to Breakeven | 29.2% | 7.1% |
| Time to Breakeven | 68 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 15 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.5% | -33.7% |
| % Gain to Breakeven | 94.3% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -56.2% | -19.2% |
| % Gain to Breakeven | 128.1% | 23.8% |
| Time to Breakeven | 56 days | 105 days |
In The Past
Xtant Medical's stock fell -36.7% during the 2025 US Tariff Shock. Such a loss loss requires a 58.1% gain to breakeven.
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Asset Allocation
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| Event | XTNT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.7% | -18.8% |
| % Gain to Breakeven | 58.1% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.6% | -6.7% |
| % Gain to Breakeven | 29.2% | 7.1% |
| Time to Breakeven | 68 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 15 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.5% | -33.7% |
| % Gain to Breakeven | 94.3% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -56.2% | -19.2% |
| % Gain to Breakeven | 128.1% | 23.8% |
| Time to Breakeven | 56 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -33.4% | -12.2% |
| % Gain to Breakeven | 50.2% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.4% | -6.8% |
| % Gain to Breakeven | 50.2% | 7.3% |
| Time to Breakeven | 41 days | 15 days |
In The Past
Xtant Medical's stock fell -36.7% during the 2025 US Tariff Shock. Such a loss loss requires a 58.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Xtant Medical (XTNT)
AI Analysis | Feedback
Here are 1-3 brief analogies for Xtant Medical:
- Like a focused Stryker or Zimmer Biomet, specializing in spinal implants and regenerative bone and tissue products.
- A smaller-scale Medtronic, but dedicated to spinal hardware and advanced biomaterials for orthopedic and neurological surgeries.
AI Analysis | Feedback
- Biomaterial Products: Regenerative medicine products designed to support bone formation and healing.
- OsteoSponge & OsteoSponge SC: Natural scaffolds for cellular in-growth, filling bony defects in joints.
- OsteoSelect DBM Putty & OsteoSelect PLUS DBM Putty: Osteoinductive bone graft substitutes and void fillers for bone growth.
- OsteoFactor & OsteoVive Plus: Products containing proteins, peptides, and growth factors to support bone formation and remodeling.
- OsteoWrap: A biomaterial product used in regenerative medicine applications.
- Allografts: Processed human tissue grafts for various surgical applications.
- 3Demin: A family of allografts that maximizes osteoconductivity and osteoinductive potential.
- Sports Allografts: Used for ligament and meniscal repairs and reconstructions.
- Milled Spinal Allografts: Cortical bone milled to desired shapes and dimensions for spinal procedures.
- Traditional Allografts: A broad range of allografts for orthopedic, neurological, and reconstructive applications.
- Spinal Fixation and Fusion Systems: Medical devices for stabilizing and fusing parts of the spine.
- Certex Spinal Fixation, Xpress, & Fortex Pedicle Screw Systems: Systems for spinal stabilization and fixation using pedicle screws.
- Spider Cervical Plating System: A system designed for plating in the cervical spine.
- Axle & Axle-X Interspinous Fusion Systems: Devices used for interspinous fusion in the spine.
- Silex Sacroiliac Joint Fusion System: A system specifically for fusing the sacroiliac joint.
- Calix, Irix-C, & Irix-A Fusion Systems: Integrated fusion systems for cervical, thoracolumbar, and lumbar spinal applications.
AI Analysis | Feedback
Xtant Medical (XTNT) sells its products primarily to medical professionals and the institutions where they practice. Based on the company description, the major categories of customers are:- Orthopedic surgeons
- Neurological surgeons
- Hospitals and surgical centers
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Sean Browne, Chief Executive Officer
Sean Browne was appointed Chief Executive Officer of Xtant Medical in October 2019. He brings over three decades of expertise to the medical device and healthcare industry. Prior to his current role, Mr. Browne served as Chief Revenue Officer of CCS Medical, Inc., a provider of home delivery medical supplies. He also held the position of Chief Operating Officer at The Kini Group, an integrated cloud-based software analytics and advisory firm. Notably, Mr. Browne was President and Chief Executive Officer and a director of Neuro Resource Group, a venture start-up medical device company that was successfully sold to a strategic buyer. His experience further includes serving as President of the Miltex Surgical Instrument Division for Integra LifeSciences Corporation, a publicly held medical device company that acquired Miltex Holdings, Inc. Additionally, he was Vice President of Sales and Marketing for Esurg.com, an e-commerce company, and Senior Vice President of the Health Systems Division at McKesson Corporation. He began his career holding various positions of increasing responsibility at Baxter Healthcare. Mr. Browne holds an MBA from the Kellogg School of Management at Northwestern University.
Scott Neils, Chief Financial Officer
Scott Neils was appointed Chief Financial Officer of Xtant Medical, effective June 1, 2022, after serving as interim Chief Financial Officer since January 3, 2022. He joined Xtant Medical in August 2019 as the Company's Controller. Mr. Neils possesses more than 15 years of experience in public accounting and corporate finance. Before his tenure at Xtant Medical, he served as Audit Senior Manager at Baker Tilly US, LLP from November 2015 to August 2019. Earlier in his career, he was an Audit Manager at Grant Thornton LLP, an accounting and advisory organization, from September 2007 to November 2015. Mr. Neils is a Certified Public Accountant. He earned a Bachelor of Science in Business in Accounting and a Master of Accountancy from the Carlson School of Management at the University of Minnesota.
Mark Schallenberger, Chief Operating Officer
Mark Schallenberger serves as the Chief Operating Officer for Xtant Medical. He brings extensive experience in orthobiologics to his role. Before rejoining Xtant Medical, Mr. Schallenberger was the Chief Operations Officer of Surgenex LLC, a medical technology manufacturer, from June 2019 to January 2023. Prior to that, he held the position of Senior Director of Marketing & Product Development at DCI Donor Services Tissue Bank from February 2016 to June 2019. Earlier in his career, he held various roles with increasing responsibility at Xtant Medical Holdings, Inc. (formerly Bacterin International Holdings, Inc.), including Director of Scientific Affairs, from September 2010 to February 2016. Mr. Schallenberger holds a Master of Science in Chemical Biology from The Scripps Research Institute and a Bachelor of Science degree in Chemistry from the University of Montana.
AI Analysis | Feedback
The key risks to Xtant Medical's business (XTNT) are primarily driven by the highly competitive and regulated nature of the medical device and regenerative medicine industry, alongside ongoing financial challenges.
- Intense Competition and Pricing Pressure: Xtant Medical operates in an extremely competitive segment of the medical device world, facing massive, diversified competitors such as Medtronic. This disparity in scale, with larger companies having significantly greater revenue and R&D budgets, poses a constant threat of stifling Xtant's growth and exerting relentless pricing pressure in the orthobiologics space.
- Regulatory Risks and Product Recalls: The regulatory environment for allografts and biologics is stringent, with a tightening focus from the FDA on transparency and compliance. Xtant Medical faces the ongoing risk of product recalls, adverse regulatory changes, or delays in product approvals, any of which can be costly and lead to sanctions, product seizures, or reputational damage. The company has previously experienced a Class 2 Device Recall for a spinal fixation system, highlighting this vulnerability.
- Financial Challenges and Path to Consistent Profitability: While Xtant Medical has shown recent positive net income in some quarters, the company has historically burned capital, and the "specter of a significant net loss" has been projected by some analysts for the full 2025 fiscal year. The company has had limited cash reserves, although recent asset sales are intended to improve this. A low Altman Z-Score indicates potential financial distress, and earnings are forecast to decline by an average of 3.2% per year for the next three years, underscoring ongoing concerns about financial stability and the sustainability of profitability.
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Xtant Medical Holdings, Inc. operates within several significant addressable markets, primarily focused on orthopedic and neurological medical devices and regenerative medicine products. Here are the estimated market sizes for their main product categories:
- Orthopedic Devices: The global orthopedic devices market was estimated at USD 60.4 billion in 2023 and is anticipated to reach USD 80.8 billion by 2030. North America held the largest revenue share, accounting for 45% of the global market in 2023. The U.S. alone accounted for 93.3% of the North American orthopedic devices market in 2023. Another source indicates the global orthopedic devices market was valued at USD 54.4 billion in 2024 and is expected to grow to USD 77.6 billion by 2034. North America dominated the global market with the highest market share of 55.6% in 2024.
- Bone Graft Substitutes (including DBM products and allografts): The global bone graft substitutes market was valued at over USD 3 billion in 2023 and is estimated to expand to USD 5.4 billion by 2032. North America is a significant region, with the U.S. bone graft substitutes market valued at USD 1.62 billion in 2023 and projected to grow. Another report indicates the U.S. bone graft substitutes market size was valued at USD 945.1 million in 2023 and is expected to reach USD 1598.1 million by 2033. The global bone grafts and substitutes market size is predicted to increase from USD 3.57 billion in 2026 to approximately USD 5.99 billion by 2035. The Demineralized Bone Matrix (DBM) market, specifically, was valued at USD 1.37 billion in 2024 and is projected to reach USD 2.18 billion by 2032. The DBM putty segment is projected to reach an estimated USD 795.1 million by 2025 globally.
- Spinal Fusion Devices: The global spinal fusion device market size was estimated at USD 7.03 billion in 2023 and is projected to reach USD 9.75 billion by 2030. North America dominated this market with a 42.0% share in 2023. The U.S. spinal fusion device market was valued at USD 2,082.9 million in 2021 and is expected to reach USD 2,661.2 million by 2028. Another report estimates the global spinal fusion devices market size at USD 7.41 billion in 2024 and poised to grow to USD 10.82 billion by 2033.
- Regenerative Medicine Products: The U.S. regenerative medicine market size was valued at USD 17.19 billion in 2023 and is projected to surpass around USD 80.74 billion by 2033. Another source notes the U.S. regenerative medicine market size was USD 16.81 billion in 2023 and is expected to grow.
- Neurology Devices (for neurological surgeons): The global neurology devices market size was valued at USD 14.3 billion in 2024 and is expected to reach USD 28.3 billion by 2034. Another estimate puts the global neurology devices market at USD 15.98 billion in 2024, projected to reach around USD 34.76 billion by 2034. The U.S. neurological device market was valued at over USD 7.6 billion in 2024 and is expected to reach nearly USD 10 billion. Another report estimates the U.S. neurology devices market to reach US$ 6.32 billion by 2033 from US$ 3.57 billion in 2024.
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Xtant Medical (XTNT) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives:
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New Product Launches and Expanded Biologics Portfolio: Xtant Medical is continuously expanding its product offerings, particularly in the high-margin regenerative biologics segment. Recent and planned launches include products like OsteoVive Plus, Trivium advanced demineralized bone matrix, Collagen X, and nanOss Strata synthetic bone graft, alongside the introduction of new categories such as amnion, growth factor, and stem cell product lines.
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Expansion of Distribution Network and Commercial Team: The company is focused on broadening its market reach by expanding its distribution network and increasing the penetration of its products. This includes adding new distributors and a strategic plan to significantly increase its sales representatives to drive sales of its core biologics.
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Entry into Adjacent Markets: Xtant Medical is actively diversifying its market presence by pursuing opportunities in adjacent markets beyond its traditional focus on spine. These include surgical repair, chronic wound care, foot and ankle, oncology, total knee and hip, and trauma spaces, which are expected to open new revenue streams.
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Vertical Integration and Enhanced Supply Chain Control: The completion of vertical integration in manufacturing enables Xtant Medical to control its supply chain, reduce constraints, and develop and introduce higher-margin products. This operational improvement is anticipated to enhance both margins and supply chain security, contributing to revenue growth.
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Strategic Divestitures and Focus on Core Business: By strategically divesting non-core assets, such as the Coflex and Paradigm OUS businesses, Xtant Medical is streamlining its operations to concentrate resources on its higher-margin biologics platform. This move is intended to reduce long-term debt, improve liquidity, and strengthen the company's financial position, allowing for more focused growth in its core regenerative medicine business.
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Share Repurchases
No information available regarding share repurchase programs or actual share repurchases made by Xtant Medical (XTNT) over the last 3-5 years.
Share Issuance
- On August 25, 2022, Xtant Medical conducted a private placement that generated $4.456 million in proceeds after accounting for cash issuance costs.
- A secondary private sale of 73.1 million shares of Xtant common stock occurred on April 16, 2025, where existing shares held by OrbiMed Advisors LLC were sold to new and existing stockholders, led by Nantahala Capital Management LLC. Xtant Medical did not receive proceeds from this transaction but facilitated the resale.
- The number of issued and outstanding shares increased from 139,045,664 as of December 31, 2024, to 140,004,240 as of September 30, 2025, reflecting an increase of approximately 958,576 shares.
Inbound Investments
- In May 2021, Xtant Medical secured $20 million in debt financing through new credit agreements with MidCap Financial Trust, consisting of a $12 million secured term loan and an $8 million secured revolving credit facility.
- Following the divestiture of certain assets to Companion Spine, Xtant Medical anticipates having over $20 million in cash on its balance sheet, which is expected to strengthen its financial position.
Outbound Investments
- Xtant Medical divested its Coflex and CoFix spinal implant systems and all international operations (Paradigm OUS businesses) to Companion Spine, with the transaction finalized in December 2025 for a total aggregate purchase price of $21.4 million.
- In 2023, the company invested $23.5 million in cash for the acquisition of three separate businesses, including Surgalign SPV, Inc., Surgalign Holdings' hardware and biologics business, and nanOss production operations from RTI Surgical, Inc.
- Prior to the fourth quarter of 2022, Xtant Medical acquired the Coflex product line, which was aimed at enhancing its fixation offerings.
Capital Expenditures
- Xtant Medical reported $430,000 in capital expenditures during the third quarter of 2025.
- Net cash used in investing activities was $3.7 million for the full year 2024.
- The company is strategically focused on becoming fully vertically integrated to manufacture all of its biologics products in-house, which involves ongoing investment in manufacturing facilities and research and development for new product introductions.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Xtant Medical Earnings Notes | 12/16/2025 | |
| Can Xtant Medical Stock Hold Up When Markets Turn? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.91 |
| Mkt Cap | 0.9 |
| Rev LTM | 682 |
| Op Inc LTM | 10 |
| FCF LTM | 28 |
| FCF 3Y Avg | 4 |
| CFO LTM | 57 |
| CFO 3Y Avg | 28 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.5% |
| Rev Chg 3Y Avg | 23.3% |
| Rev Chg Q | 10.1% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 126.3% |
| Op Inc Chg 3Y Avg | 40.2% |
| Op Mgn LTM | 4.1% |
| Op Mgn 3Y Avg | -2.2% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 12.7% |
| CFO/Rev 3Y Avg | 4.5% |
| FCF/Rev LTM | 11.3% |
| FCF/Rev 3Y Avg | 0.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.9 |
| P/S | 1.3 |
| P/Op Inc | 13.8 |
| P/EBIT | 9.3 |
| P/E | 19.3 |
| P/CFO | 12.5 |
| Total Yield | 2.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -1.9% |
| D/E | 0.4 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.7% |
| 3M Rtn | -12.8% |
| 6M Rtn | -23.3% |
| 12M Rtn | -13.8% |
| 3Y Rtn | -13.7% |
| 1M Excs Rtn | -0.8% |
| 3M Excs Rtn | -24.8% |
| 6M Excs Rtn | -30.8% |
| 12M Excs Rtn | -40.1% |
| 3Y Excs Rtn | -86.6% |
Price Behavior
| Market Price | $0.44 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 10/19/2015 | |
| Distance from 52W High | -52.2% | |
| 50 Days | 200 Days | |
| DMA Price | $0.49 | $0.62 |
| DMA Trend | down | down |
| Distance from DMA | -10.1% | -29.2% |
| 3M | 1YR | |
| Volatility | 50.8% | 60.0% |
| Downside Capture | 26.03 | 70.36 |
| Upside Capture | -103.80 | 9.69 |
| Correlation (SPY) | 2.4% | 15.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.14 | -0.03 | 0.26 | -0.10 | 0.76 | 0.74 |
| Up Beta | -2.44 | 1.48 | 1.41 | 0.93 | 1.70 | 0.63 |
| Down Beta | 1.17 | 0.03 | 0.72 | 0.38 | 0.82 | 0.89 |
| Up Capture | -80% | -98% | -59% | -60% | 5% | 28% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 20 | 32 | 60 | 119 | 348 |
| Down Capture | 198% | -115% | 4% | -57% | 77% | 97% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 21 | 31 | 63 | 125 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XTNT | |
|---|---|---|---|---|
| XTNT | -32.4% | 60.0% | -0.43 | - |
| Sector ETF (XLV) | 15.4% | 15.0% | 0.74 | -2.1% |
| Equity (SPY) | 24.9% | 12.3% | 1.52 | 15.1% |
| Gold (GLD) | 25.5% | 27.4% | 0.81 | 2.1% |
| Commodities (DBC) | 30.1% | 19.0% | 1.25 | -9.3% |
| Real Estate (VNQ) | 13.5% | 13.5% | 0.69 | -1.0% |
| Bitcoin (BTCUSD) | -41.7% | 42.2% | -1.16 | 16.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XTNT | |
|---|---|---|---|---|
| XTNT | -22.5% | 73.7% | -0.03 | - |
| Sector ETF (XLV) | 6.4% | 14.8% | 0.25 | 8.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.61 | 11.0% |
| Gold (GLD) | 16.8% | 18.2% | 0.75 | 5.7% |
| Commodities (DBC) | 8.4% | 19.4% | 0.33 | 3.8% |
| Real Estate (VNQ) | 2.8% | 18.8% | 0.05 | 7.7% |
| Bitcoin (BTCUSD) | 13.6% | 54.4% | 0.44 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XTNT | |
|---|---|---|---|---|
| XTNT | -33.2% | 113.4% | 0.08 | - |
| Sector ETF (XLV) | 9.7% | 16.6% | 0.47 | 2.0% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 5.1% |
| Gold (GLD) | 12.5% | 16.1% | 0.64 | -1.7% |
| Commodities (DBC) | 6.7% | 18.0% | 0.29 | 0.2% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 3.5% |
| Bitcoin (BTCUSD) | 60.3% | 66.8% | 1.00 | 0.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/15/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -4.8% | -9.0% | -14.6% |
| 11/10/2025 | -0.6% | -10.2% | -8.7% |
| 8/12/2025 | 14.1% | 10.6% | 5.6% |
| 5/12/2025 | 14.7% | 37.5% | 29.3% |
| 3/6/2025 | -4.4% | 5.7% | -2.6% |
| 11/12/2024 | -13.3% | -20.0% | -30.9% |
| 8/8/2024 | 0.3% | -9.0% | -13.1% |
| 5/15/2024 | -12.5% | -1.4% | -5.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 9 |
| # Negative | 13 | 13 | 13 |
| Median Positive | 6.6% | 10.6% | 9.1% |
| Median Negative | -4.4% | -10.2% | -13.1% |
| Max Positive | 14.7% | 121.3% | 39.1% |
| Max Negative | -14.9% | -28.3% | -34.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/06/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 101.00 Mil | 103.00 Mil | 105.00 Mil | -22.6% | Lowered | Guidance: 133.00 Mil for 2025 | |
Prior: Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 131.00 Mil | 133.00 Mil | 135.00 Mil | 0 | Affirmed | Guidance: 133.00 Mil for 2025 | |
| 2025 Revenue Growth | 11.0% | 13.0% | 15.0% | 0 | 0 | Affirmed | Guidance: 13.0% for 2025 |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Orbimed, Advisors Llc | See footnotes | Sell | 4142025 | 0.42 | 73,114,592 | Form |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Life Sciences Tools & Services Resources |
| GenomeWeb |
| BioSpace |
| The Scientist |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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