Xtant Medical (NYSEAMERICAN:XTNT) Releases Earnings Results

Xtant Medical (NYSEAMERICAN:XTNT) issued its quarterly earnings data on Tuesday. The medical device company reported $0.03 earnings per share for the quarter, reports. The business had revenue of $32.36 million for the quarter, compared to analysts’ expectations of $30.75 million. Xtant Medical had a net margin of 1.32% and a return on equity of 3.77%.

Here are the key takeaways from Xtant Medical’s conference call:

• Q4 revenue was $32.4 million (+3% YoY) and full‑year 2025 revenue was $133.9 million (+14% YoY), with adjusted EBITDA of $16.3 million and $5.0 million net income, reflecting sustained operational discipline and positive cash flow.
• Management completed the sale of Coflex and international Paradigm Spine assets to Companion Spine for about $21.4 million in early December and used proceeds to reduce debt and sharpen focus on core high‑margin biologics.
• 2026 guidance of $95M–$99M excludes the divested businesses and one‑time license income, implying a material year‑over‑year revenue decline even as the company expects to preserve positive free cash flow.
• Company has doubled regional sales reps, plans to expand national accounts, and launched new products (nanOss Strata, CollagenX) — management expects these investments and a full biologics portfolio to accelerate organic biologics growth as reps ramp.
• Hardware revenue is expected to decline steadily (approaching high‑teens% in 2026) and inventory/obsolescence charges remain a headwind; management forecasts gross margin around the low‑60s% for 2026.

Xtant Medical Price Performance

Shares of Xtant Medical stock traded up $0.00 during trading on Wednesday, hitting $0.56. The stock had a trading volume of 13,425 shares, compared to its average volume of 154,216. The business has a fifty day moving average of $0.60 and a two-hundred day moving average of $0.67. Xtant Medical has a fifty-two week low of $0.34 and a fifty-two week high of $0.95. The firm has a market cap of $78.64 million, a P/E ratio of 56.23 and a beta of -0.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.21 and a quick ratio of 1.06.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BTIG Research lowered their target price on shares of Xtant Medical from $1.50 to $1.00 and set a “buy” rating on the stock in a research note on Tuesday. Craig Hallum reiterated a “buy” rating on shares of Xtant Medical in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1.00.

Key Stories Impacting Xtant Medical

Here are the key news stories impacting Xtant Medical this week:

• Positive Sentiment: Q4 beat on revenue and EPS — Xtant reported Q4 EPS roughly $0.026–$0.03 and revenue of $32.36M, topping consensus; full-year 2025 revenue rose to $133.9M and the company delivered positive net income, adjusted EBITDA and operating cash flow. Xtant Medical Reports Fourth Quarter and Full-Year 2025 Financial Results
• Positive Sentiment: Balance-sheet improvement — Xtant ended 2025 with ~$17.3M cash and received an additional $10.5M after year-end from a divestiture, supporting near-term liquidity. Xtant Medical Reports Fourth Quarter and Full-Year 2025 Financial Results
• Neutral Sentiment: Analyst update — BTIG cut its price target from $1.50 to $1.00 but kept a “buy” rating, leaving a large implied upside while signaling more conservative near-term expectations. Benzinga
• Neutral Sentiment: Full earnings detail and call transcript are available for investors who want management commentary on drivers and margin dynamics. Listen to Conference Call / Transcript
• Negative Sentiment: Weak 2026 outlook — management guided to $95M–$99M revenue for 2026, reflecting the impact of the Companion Spine divestiture and rolling off Q-code license revenue; this guidance triggered investor concern about near‑term top‑line contraction. Xtant outlines $95M-$99M 2026 revenue outlook as Companion Spine divestiture and Q-code license revenue roll off
• Negative Sentiment: Market reaction — those weak 2026 expectations outweighed the Q4 beat and led to an intraday share drop (near‑term negative sentiment). Xtant Medical shares drop nearly 5% as weak 2026 outlook overshadows Q4 beat

Institutional Investors Weigh In On Xtant Medical

Institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC boosted its position in shares of Xtant Medical by 500.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 68,394,000 shares of the medical device company’s stock valued at $50,543,000 after purchasing an additional 57,000,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Xtant Medical by 4.6% during the third quarter. Vanguard Group Inc. now owns 2,355,671 shares of the medical device company’s stock valued at $1,529,000 after purchasing an additional 104,159 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Xtant Medical by 28.8% during the fourth quarter. Renaissance Technologies LLC now owns 919,860 shares of the medical device company’s stock worth $721,000 after buying an additional 205,945 shares in the last quarter. Mink Brook Asset Management LLC boosted its holdings in Xtant Medical by 125.8% during the second quarter. Mink Brook Asset Management LLC now owns 109,466 shares of the medical device company’s stock worth $81,000 after buying an additional 60,997 shares in the last quarter. Finally, Wiregrass Investment Management LLC acquired a new position in Xtant Medical in the fourth quarter worth approximately $81,000. 69.33% of the stock is owned by institutional investors and hedge funds.

About Xtant Medical

Xtant Medical, Inc is a medical technology company focused on the development, manufacturing and distribution of bone graft, spine biologics and related implantable medical devices. The company’s product portfolio is designed to address critical needs in spinal fusion, orthopedics and trauma surgery by providing a range of solutions that promote bone growth, structural support and patient recovery.

The company’s offerings include an array of bone graft substitutes – such as demineralized bone matrix putties and fibers – interbody fusion devices, spinal fixation systems and biologic agents.