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Xtant Medical Holdings, Inc. (NYSE American: XTNT) is a leader in the field of regenerative medicine and surgical solutions for spinal disorders. The company designs, develops, and markets a comprehensive range of orthobiologics and spinal implant systems to aid spinal fusion in complex spine, deformity, and degenerative procedures. Their offerings are widely utilized by orthopedic spine surgeons and neurosurgeons for treating various spinal disorders across cervical, thoracolumbar, and interbody regions.
Xtant Medical's product portfolio includes notable biomaterial products such as OsteoSponge, OsteoSponge SC, OsteoSelect Plus DBM putty, OsteoWrap, and the 3Demin line. These products are essential for promoting bone healing, and their applications extend to orthopedic disorders and cranial, foot, and ankle surgeries. The company's innovative solutions are distributed in both domestic and international markets, making a significant impact on global neurological and orthopedic surgery markets.
In recent developments, Xtant Medical has successfully raised its 2023 annual revenue guidance to $88 million - $91 million. Furthermore, the company has projected its full-year 2024 revenue guidance between $112 million - $116 million, signifying strong growth and operational efficiency. The financial results for the first quarter of 2024 were impressive, with total revenue reaching $27.9 million, an increase of 55% compared to the previous year. This growth was driven by strategic acquisitions, increased independent agent sales, and additional product sales.
Xtant Medical is dedicated to honoring the gift of donation, enabling patients to live full and complete lives. The team at Xtant is composed of dedicated and talented individuals who operate with the highest integrity to serve their customers. The company's mission and values are reflected in their continuous innovation and commitment to providing high-quality medical solutions.
Xtant Medical, a global medical technology company specializing in spinal disorder treatments, will participate in the 21st Annual Craig-Hallum Institutional Investor Conference on May 29, 2024, in Minneapolis. CEO Sean Browne and CFO Scott Neils will represent the company. The event, featuring over 130 public companies, includes one-on-one and small group meetings. Interested parties can schedule a meeting by contacting Brett Maas or their Craig Hallum representative. Additionally, the company's investor presentation is available on Xtant Medical's investor relations website.
Xtant Medical (NYSE American:XTNT) reported a 55% revenue increase for Q1 2024, reaching $27.9 million compared to $17.9 million in Q1 2023. The growth was driven by acquisitions and increased sales of Coflex and CoFix products.
Gross margin improved to 62.1%, up from 58.7% in the prior year. However, the company recorded a net loss of $4.3 million, higher than the $2.1 million loss in Q1 2023. Adjusted EBITDA turned positive at $0.1 million from a loss of $0.3 million in the previous year.
Xtant launched two new amniotic membrane allografts and amended credit agreements for more working capital. The company raised its 2024 revenue guidance to $116 million - $120 million, indicating a 27%-31% growth compared to 2023.
Apyx Medical announced the retirement of Andrew Makrides as Chairman of the Board, who served the company since 1982, and the appointment of Stavros Vizirgianakis as the new Chairman. Makrides contributed to the company's growth over the years, while Vizirgianakis brings extensive medical device industry experience to the role.
Xtant Medical Holdings, Inc. (NYSE American:XTNT) will release its first quarter 2024 financial results on May 15, 2024. The global medical technology company specializing in spinal disorder surgical solutions will have a conference call hosted by President Sean Browne and CFO Scott Neils at 4:30 PM ET on the same day. Details can be accessed through the provided conference dial-in or webcast link.
Xtant Medical Holdings, Inc. announced the full commercial launch of two amniotic membrane allografts, SimpliGraft™ and SimpliMax™, for chronic and acute wounds. The products are dehydrated, terminally irradiated, single and dual-layer amniotic membrane sheets intended to provide protective coverage from the surrounding environment when applied topically. Manufactured at Xtant’s biologics processing center in Belgrade, Montana, the company aims to position itself as a leader and innovator in advanced biologic therapies.
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