XTNT · Xtant Medical Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $133.93M | $117.27M | $91.30M | $57.97M | $55.26M | $53.34M |
| Cost of Revenue | $49.65M | $49.05M | $35.84M | $25.83M | $22.77M | $18.95M |
| Gross Profit | $84.27M | $68.22M | $55.47M | $32.14M | $32.49M | $34.39M |
| R&D | $2.10M | $2.38M | $1.34M | $915.0K | $870.0K | $657.0K |
| SG&A | $29.38M | $28.69M | $25.85M | $15.46M | $14.45M | $13.50M |
| Total Operating Expenses | $76.99M | $80.29M | $65.63M | $38.89M | $36.34M | $35.14M |
| D&A | $5.22M | $4.22M | $3.17M | $1.29M | $1.33M | $2.08M |
| Operating Income | $7.28M | ($12.07M) | ($10.16M) | ($6.75M) | ($3.85M) | ($751.0K) |
| Interest Expense | $3.67M | $4.16M | $2.94M | $1.69M | $995.0K | $5.98M |
| Income Tax | $2.03M | $187.0K | ($1.70M) | $69.0K | - | $296.0K |
| Net Income | $4.97M | ($16.45M) | $660.0K | ($8.48M) | ($4.85M) | ($7.02M) |
| EPS - Basic | $0.04 | ($0.12) | $0.01 | ($0.09) | ($0.06) | ($0.25) |
| EPS - Diluted | $0.03 | ($0.12) | $0.01 | ($0.09) | ($0.06) | ($0.25) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.05M | $6.20M | $5.71M | $20.30M | $18.24M | $2.34M |
| Accounts Receivable | $17.80M | $20.66M | $20.73M | $10.85M | $7.15M | $6.88M |
| Inventory | $30.26M | $38.63M | $36.88M | $17.29M | $17.95M | $21.41M |
| Accounts Payable | $3.84M | $7.92M | $7.05M | $3.49M | $2.62M | $2.29M |
| Current Assets | $78.25M | $67.12M | $64.87M | $49.32M | $44.33M | $31.36M |
| Total Assets | $94.14M | $93.84M | $92.61M | $60.23M | $54.69M | $41.47M |
| Current Liabilities | $29.48M | $28.58M | $22.99M | $15.22M | $11.08M | $25.65M |
| Long-term Debt | $11.03M | $22.04M | $17.17M | $9.69M | $11.79M | - |
| Total Liabilities | $43.19M | $50.87M | $41.26M | $26.06M | $23.81M | $26.95M |
| Stockholders' Equity | $50.95M | $42.96M | $51.35M | $34.17M | $30.88M | $14.51M |
| Retained Earnings | ($254.49M) | ($259.46M) | ($243.01M) | ($243.67M) | ($235.19M) | ($230.34M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.55M | ($11.90M) | ($9.52M) | ($5.34M) | $439.0K | ($731.0K) |
| Investing Cash Flow | $7.90M | ($3.73M) | ($24.78M) | ($1.56M) | ($1.89M) | ($1.30M) |
| Financing Cash Flow | ($9.57M) | $16.07M | $19.69M | $9.02M | $17.50M | ($861.0K) |
| CapEx | $2.38M | $4.11M | $1.46M | $1.76M | $2.12M | $1.54M |
| Free Cash Flow | $10.16M | ($16.01M) | ($10.97M) | ($7.11M) | ($1.68M) | ($2.28M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 62.9% | 58.2% | 60.8% | 55.4% | 58.8% | 64.5% |
| Operating margin | 5.4% | -10.3% | -11.1% | -11.7% | -7.0% | -1.4% |
| EBITDA margin | 9.3% | -6.7% | -7.6% | -9.4% | -4.6% | 2.5% |
| Net margin | 3.7% | -14.0% | 0.7% | -14.6% | -8.8% | -13.2% |
| Free cash flow margin | 7.6% | -13.7% | -12.0% | -12.3% | -3.0% | -4.3% |
| FCF / Net income | 2.04 | 0.97 | -16.62 | 0.84 | 0.35 | 0.32 |
| R&D / Revenue | 1.6% | 2.0% | 1.5% | 1.6% | 1.6% | 1.2% |
| SG&A / Revenue | 21.9% | 24.5% | 28.3% | 26.7% | 26.1% | 25.3% |
| Effective tax rate | 29.0% | - | - | - | - | - |
| Return on assets | 5.3% | -17.5% | 0.7% | -14.1% | -8.9% | -16.9% |
| Return on equity | 9.8% | -38.3% | 1.3% | -24.8% | -15.7% | -48.4% |
| Return on invested capital | 8.3% | -14.7% | -11.7% | -12.2% | - | - |
| Liquidity | ||||||
| Current ratio | 2.65 | 2.35 | 2.82 | 3.24 | 4.00 | 1.22 |
| Quick ratio | 1.63 | 1.00 | 1.22 | 2.10 | 2.38 | 0.39 |
| Cash ratio | 0.58 | 0.22 | 0.25 | 1.33 | 1.65 | 0.09 |
| Leverage | ||||||
| Debt / Equity | 0.22 | 0.51 | 0.33 | 0.28 | 0.38 | - |
| Debt / Assets | 0.12 | 0.23 | 0.19 | 0.16 | 0.22 | - |
| Debt / EBITDA | 0.88 | - | - | - | - | - |
| Interest coverage | 2.0x | -2.9x | -3.5x | -4.0x | -3.9x | -0.1x |
| Equity multiplier | 1.85 | 2.18 | 1.80 | 1.76 | 1.77 | 2.86 |
| Liabilities / Assets | 0.46 | 0.54 | 0.45 | 0.43 | 0.44 | 0.65 |
| Efficiency | ||||||
| Asset turnover | 1.42 | 1.25 | 0.99 | 0.96 | 1.01 | 1.29 |
| Inventory turnover | 1.64 | 1.27 | 0.97 | 1.49 | 1.27 | 0.88 |
| Days sales outstanding | 49d | 64d | 83d | 68d | 47d | 47d |
| Days inventory outstanding | 222d | 287d | 376d | 244d | 288d | 412d |
| Days payable outstanding | 28d | 59d | 72d | 49d | 42d | 44d |
| Cash conversion cycle | 243d | 293d | 387d | 263d | 293d | 415d |
| Valuation | ||||||
| P / E | 26.0x | - | 113.0x | - | - | - |
| P / B | 2.3x | 1.4x | 2.8x | 1.8x | 1.5x | 2.4x |
| P / S | 0.9x | 0.5x | 1.6x | 1.1x | 0.9x | 0.6x |
| EV / EBITDA | 8.9x | - | - | - | - | 24.0x |
| Growth | ||||||
| Revenue growth (YoY) | 14.2% | 28.4% | 57.5% | 4.9% | 3.6% | -26.1% |
| Revenue CAGR (3y) | 32.2% | 28.5% | 19.6% | -7.1% | -12.5% | -13.6% |
| Revenue CAGR (5y) | 20.2% | 10.2% | 2.0% | -6.8% | -9.3% | -2.1% |
| Gross profit growth (YoY) | 23.5% | 23.0% | 72.6% | -1.1% | -5.5% | -19.1% |
| Operating income growth (YoY) | - | -18.9% | -50.4% | -75.3% | -413.2% | 66.7% |
| Net income growth (YoY) | - | - | - | -75.0% | 31.0% | 14.6% |
| EPS growth (YoY) | - | - | - | -50.0% | 76.0% | 60.3% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | -45.9% | -54.4% | -323.9% | 26.4% | -119.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 18.6% | -16.3% | 50.3% | 10.6% | 112.8% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$268.25M totalProduct$115.20M · 42.9%
Orthobiologics$72.89M · 27.2%
Spinal Implant$42.31M · 15.8%
License Revenue$18.72M · 7.0%
License$18.72M · 7.0%
Bill And Hold Transactions$400.0K · 0.1%
Geographic
$133.93M totalUS$122.45M · 91.4%
Non Us$11.48M · 8.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.24
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Xtant Medical Holdings against the 5 most active filers in the same SIC group.