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MARKETS / NYSE / XTNT
NYSE · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · SMALL CAP

Xtant Medical Holdings, Inc. XTNT

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$133.9M
▲ 14.2% YoY
$5.0M
$10.2M
In brief

What this company does

Xtant Medical Holdings, Inc. designs, develops and commercializes orthobiologics and spinal implant fixation systems used to facilitate spinal fusion in complex spine, deformity and degenerative procedures. Its products are used by orthopedic spine surgeons and neurosurgeons to treat a variety of spinal disorders in the cervical, thoracolumbar and interbody spine. It promotes its products in the United States through independent distributors and stocking agents, supported by direct employees. It also promotes and sells its products internationally through stocking distribution partners in Europe, Canada, Mexico, South America and certain Pacific region countries. Its spinal implant product line treats a variety of spinal and sacroiliac conditions, including trauma, degeneration, deformity and tumor, including through minimally invasive surgery techniques. As of December 31, 2025, it had 151 full-time employees, of whom 64 were in operations, 28 in sales and marketing, 12 in research and development and engineering, 24 in regulatory and quality affairs, and 23 in administrative functions. The company began operations in 1998 as a spin out of the Center for Biofilm Engineering at Montana State University and incorporated as “Bacterin, Inc.” in the state of Montana in January 2000.

Written from the business description in Xtant Medical Holdings, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
USD 133.9M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 133.9 · Net income 5.0
50.0M100.0M-25.0M-50.0M201020122014201620182020202220242025
Compound annual growth
+32.2%
+20.2%
+8.5%
+15.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +20.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
4 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 5.4% · Net 3.7%
-50%-100%201020122014201620182020202220242025
ROE
FY2025 · ROE 10.6%
-2000%-4000%-6000%201020122014201620182020202220242025

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 10.2
4M8M-8M-16M201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2010 · Dividends — · Net buybacks -4.4
-2M-4M2010

Total assetsUSD 94.1M
EquityUSD 51.0M
CashUSD 17.1M
Gross debtUSD 14.5M
Net debtUSD -2.5M
Current ratio2.65×

The company holds more cash than debt.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.10.10.10.10.10.10.10.10.10.10.10.00.00.00.00.0
Operating income $B0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B0.0−0.0−0.0−0.0−0.00.00.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.0−0.00.0·0.00.0·0.00.0−0.00.00.00.0··
Net income $B0.0−0.00.0−0.0−0.0−0.0−0.0−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B0.0−0.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $0.03−0.120.01−0.09−0.06−0.25−0.63−5.97−34.76−18.46−0.24−1.76−2.80−0.18−0.08−0.61
Dividend / sh $················
Payout %················
ROE %10.6−34.91.5−26.1−21.4····−2162.9−394.8·−6505.8−158.5−123.2·
Shares out B0.140.140.130.110.090.080.010.010.000.000.010.010.010.040.040.04

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySurgical & Medical Instruments & Apparatus
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2010

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