Xtant Medical
Supplies orthobiologics, spine implants, and U.S. surgical-hemostasis products.
Something off on this page? Send us feedback.
Profile
Supplies orthobiologics, spinal fixation and interbody implants, and U.S.-distributed surgical-hemostasis products to clinical customers. Sales run largely through independent U.S. agents, while human-tissue supply, procedure reimbursement, FDA requirements, and third-party manufacturing shape the business.
Develops orthobiologics, spinal implants, and surgical-hemostasis products for spine surgeons, neurosurgeons, hospitals, and distributors. Its orthobiologics range includes demineralized bone-matrix allografts, synthetic bone-graft substitutes, cortical-fiber allografts, and amniotic membranes; continuing hardware includes cervical plates, fixation systems, interbodies, and fusion products. HEMOBLAST Bellows broadens the offering through exclusive U.S. distribution.
Generates product revenue from orthobiologics and spinal implants, net of returns, discounts, and rebates, and uses a U.S. network of more than 670 independent commissioned and stocking agents, supported by direct employees. The business relies on human tissue and recovery-agency agreements, reimbursement for procedures, regulatory compliance, and some sole-source suppliers. Dilon manufactures HEMOBLAST in France and retains manufacturing and regulatory responsibility.
Company facts
Key statistics
Year to date −45.9% · Average volume (30d) 2.9M
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.02 | −$0.07 | −250.0% | $24.9M | $23.0M | −7.4% | −28.25% |
| May 13, 2026Q1 FY26 | −$0.02 | −$0.02 | −33.3% | $20.2M | $20.9M | +3.6% | −2.08% |
| Mar 31, 2026Q4 FY25 | $0.00 | $0.00 | — | $30.8M | $32.4M | +5.2% | −4.64% |
| Nov 10, 2025Q3 FY25 | −$0.01 | $0.01 | +290.5% | $30.8M | $33.3M | +8.1% | −0.62% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $32.9M | $35.4M | $33.3M | $32.4M | $20.9M | $23.0M | |
| Gross profit | $20.2M | $24.3M | $22.0M | $17.8M | $12.0M | $13.3M | |
| Operating income | $1.1M | $4.6M | $2.5M | −$944.0K | −$2.9M | −$9.2M | |
| Net income | $58.0K | $3.6M | $1.3M | $57.0K | −$3.1M | −$9.4M | |
| Diluted EPS | $0.00 | $0.02 | $0.01 | $0.00 | −$0.02 | −$0.07 | |
| Gross margin | 61.5% | 68.6% | 66.1% | 54.9% | 57.3% | 57.9% | |
| Operating margin | 3.2% | 13.1% | 7.6% | -2.9% | -14.0% | -39.8% |
Fiscal years (4-quarter sums)FY24 $117.3M · FY25 $133.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $9.9M · Total debt $26.0M · Total assets $79.7M · Shareholders' equity $40.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 140.26M · Float 120.85M · 86.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Nantahala Capital Management, LLC | 68.39M | 48.76% | 13F | Aug 19, 2026 |
| Stavros G. Vizirgianakis · director | 7.84M | 5.59% | Form 4 | Aug 18, 2026 |
| Lytton Laurence W | 7.70M | 5.50% | 13G | Feb 17, 2026 |
| Awm Investment Company, Inc. | 5.98M | 4.26% | 13F | Aug 14, 2026 |
| Sean E. Browne · director, officer: President and CEO | 3.11M | 2.22% | Form 4 | Aug 18, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Medtronic
Broad spine systems and bone-graft competition.
- Globus Medical
Comprehensive spine, biomaterials, and hospital-channel overlap.
- Johnson & Johnson
DePuy Synthes implants and biomaterials contest fusion cases.
- Orthofix Medical
Spinal fixation, interbodies, and biologics overlap.
- Alphatec
Pure-play spine systems and allograft biologics overlap.
- Bioventus
Bone-graft substitutes and spine procedural tools overlap.
- SI-BONE
Focused sacroiliac-joint fusion competition.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Xtant Medical | $0.3700 | −8.78% | $53.9M | — | — | 0.5 | −35.0% |
| Medtronic | $91.58 | +0.42% | $116.78B | 24.5 | 15.3 | 3.2 | +9.9% |
| Globus Medical | $85.02 | +2.47% | $11.19B | 21.3 | 16.2 | 3.6 | +5.9% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Orthofix Medical | $9.70 | 0.00% | $392.1M | — | — | 0.5 | +3.9% |
| Alphatec | $9.44 | +0.16% | $1.45B | — | 18.7 | 1.8 | +15.1% |
| Bioventus | $13.84 | −0.07% | $937.6M | 18.0 | 17.1 | 1.6 | +3.8% |
| SI-BONE | $19.21 | +0.05% | $852.0M | — | — | 4.0 | +15.2% |
| Median | 22.9 | 17.1 | 3.2 | +6.6% |