Xtant Medical Q4 Earnings Call Highlights

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Tue, March 31, 2026 astatine 11:08 AM CDT 9 min read

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Xtant reported humble Q4 gross maturation to $32.4 million (+3% YoY) with improved gross margin, and for full-year 2025 gross roseate 14% to $133.9 million, producing a plaything to nett income of $5.0 million and adjusted EBITDA of $16.3 million.
The institution completed a transformational divestiture of Coflex and planetary Paradigm Spine assets to Companion Spine for astir $21.4 million, utilizing proceeds to trim borrowings and bolster currency (year-end currency of $17.3 million positive $10.7 million received post-year-end).
Xtant guided 2026 gross of $95–99 million—reflecting the divestiture and expired licence revenue—but expects sequential quarterly maturation arsenic an expanded salesforce and caller biologics launches (eg, nanOss Strata and CollagenX) ramp, portion maintaining affirmative escaped currency travel and nary near-term outer superior need.
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Xtant Medical (NYSEAMERICAN:XTNT) reported fourth-quarter and full-year 2025 results highlighting humble quarterly gross growth, improved profitability, and a sharper strategical absorption pursuing the merchantability of non-core assets to Companion Spine.

President and CEO Sean Browne said the institution delivered “solid fiscal performance” successful the 4th quarter, with gross of $32.4 million, up 3% from $31.5 million successful the prior-year quarter. Browne noted, however, that the closing of the Companion Spine transaction successful aboriginal December—roughly 1 period earlier than the institution expected—reduced fourth-quarter gross by astir $2 million.

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Chief Financial Officer Scott Neils said the quarter’s gross summation was “attributed chiefly to higher licence revenue” and was “partially offset by declines successful biologics and hardware.”

Gross borderline successful the 4th fourth roseate to 54.9% from 50.8% a twelvemonth earlier. Neils attributed the betterment chiefly to favorable income premix and greater scale, partially offset by a $1.3 cardinal inventory charge associated with the motorboat of the Cortera fixation system.

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Operating expenses successful the 4th were $18.7 million versus $17.9 million successful the comparable 2024 period. General and administrative disbursal accrued to $7.3 million from $5.7 million, driven chiefly by $1.4 million of further disbursal tied to assorted compensation plans, Neils said. Sales and selling disbursal declined to $10.9 million from $11.7 million, mostly owed to a $0.9 million simplification successful commissions. R&D disbursal fell to $459,000 from $522,000.