Xtant Medical Holdings Inc
F:XMS
Decide at what price you'd be comfortable buying and we'll help you stay ready.
|
Xtant Medical Holdings Inc
F:XMS
|
US |
|
F
|
Fresenius SE & Co KGaA
XHAN:FRE
|
DE |
|
Mission Produce Inc
F:5YM
|
US |
Xtant Medical Holdings Inc
Xtant Medical Holdings makes implants and biologic products used in spine and orthopedic surgery. Its products include spinal fixation hardware, bone graft materials, and related surgical items that doctors use to help stabilize the spine and support healing after surgery. The company’s role is to supply tools that surgeons and hospitals need for complex back and neck procedures. Its main customers are hospitals, ambulatory surgery centers, and spine surgeons, often reached through distributors and sales reps. Xtant makes money by selling these medical devices and biologic products to healthcare providers and distributors. Because these products are used in surgery, the business depends on surgeon preference, product quality, and approval for use in specific procedures. What makes the company’s business model distinct is the mix of mechanical implants and biologic materials in one offering. That gives it exposure to both the device side of spine care and the tissue-based side of healing, which are sold as specialized inputs into surgical treatment rather than as consumer products.
Xtant Medical Holdings makes implants and biologic products used in spine and orthopedic surgery. Its products include spinal fixation hardware, bone graft materials, and related surgical items that doctors use to help stabilize the spine and support healing after surgery. The company’s role is to supply tools that surgeons and hospitals need for complex back and neck procedures.
Its main customers are hospitals, ambulatory surgery centers, and spine surgeons, often reached through distributors and sales reps. Xtant makes money by selling these medical devices and biologic products to healthcare providers and distributors. Because these products are used in surgery, the business depends on surgeon preference, product quality, and approval for use in specific procedures.
What makes the company’s business model distinct is the mix of mechanical implants and biologic materials in one offering. That gives it exposure to both the device side of spine care and the tissue-based side of healing, which are sold as specialized inputs into surgical treatment rather than as consumer products.
Guidance up: Xtant raised full-year 2026 revenue guidance to $101 million to $105 million, citing the new HEMOBLAST distribution agreement, new product launches, and growth in the base business.
Q1 revenue: First-quarter revenue was $20.9 million, down from $32.9 million a year ago on a pro forma basis, with management blaming weakness in amnio revenue tied to the advanced wound care market.
HEMOBLAST launch: The company secured exclusive U.S. distribution rights to HEMOBLAST Bellows, which it says opens access to an estimated $2 billion global hemostatic market and broadens its biologics portfolio.
Balance sheet: Xtant used proceeds from the Companion Spine divestitures to reduce debt by $13.3 million in the quarter and ended March with $12.2 million of cash and $12.2 million of debt.
Margin pressure: Gross margin fell to 57.3% from 61.5% a year ago, mainly because Q-code license revenue from amniotic membrane agreements ended in 2025.
Cost outlook: The company said adding 21 HEMOBLAST sales professionals will increase sales and marketing expense by at least $2.5 million per quarter, but it expects low-60s gross margins to return later in the year.
