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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 Holdings (NYSE American: XTNT) announced the conclusion of a second tranche of a private placement, generating approximately $3 million from the sale of around 6.2 million shares and warrants. This follows an earlier tranche which raised approximately $6.75 million from 14.1 million shares and warrants. The total gross proceeds from both transactions are around $9.75 million. The funds will be utilized for working capital and corporate purposes. The Company plans to file a registration statement with the SEC for the resale of the common shares.
Xtant Medical Holdings, Inc. (NYSE American: XTNT) announced the completion of the first tranche of a private placement, raising approximately $6.75 million by selling about 14.1 million shares and 3.5 million warrants. This financing is expected to enhance the company's growth strategy, as stated by CEO Sean Browne. A second closing tranche, anticipated in early October 2022, is projected to secure an additional $3 million. The company plans to use the funds primarily for working capital and corporate needs.
Xtant Medical Holdings (NYSE American: XTNT) has entered a securities purchase agreement to sell approximately $9.75 million in common stock and warrants to accredited investors, led by Stavros Vizirgianakis, who will become Non-Executive Chairman. The transaction involves the sale of around 20.3 million shares at $0.48 each, with a two-tranche closing process. The first closing is expected on August 26, 2022, with the second planned for October 2022. Proceeds will be used for working capital and corporate purposes. The securities are being offered under SEC exemptions.
Xtant Medical Holdings, Inc. (XTNT) reported a second quarter revenue of $15.3 million, marking a 2% increase year-over-year. The company’s biologics segment showed strong growth, up 8%, driven by new product demand. However, gross margin decreased to 54.8% from 63.5% due to higher costs and inventory charges. The net loss widened to $1.7 million, or $0.02 per share, compared to $0.7 million in Q2 2021. Despite challenges from supply chain issues, Xtant remains optimistic about future growth, with strategic initiatives gaining traction.
Xtant Medical Holdings, Inc. (NYSE American: XTNT) is set to announce its financial results for the second quarter ended June 30, 2022, on August 4, 2022, before market opening. The earnings conference call will occur at 9:00 AM ET, hosted by CEO Sean Browne and CFO Scott Neils. The company specializes in surgical solutions for spinal disorders, focusing on a broad range of orthobiologics and spinal implant systems. Following the call, a replay will be accessible on their website under ‘Investor Info’.
Xtant Medical Holdings reported a 3% revenue increase to $13.0 million for Q1 2022, up from $12.5 million in Q1 2021. The biologics segment saw a notable 13% year-over-year growth, driven by new product launches and expanded distribution. However, gross margin decreased to 58.3% from 64.5% due to higher production costs and a shift in sales mix. Operating expenses rose to $9.4 million, leading to a net loss of $2.2 million, compared to a loss of $29,000 in Q1 2021. Non-GAAP Adjusted EBITDA also worsened to a loss of $0.9 million.
Xtant Medical Holdings, Inc. (NYSE American: XTNT) has appointed Scott Neils as Chief Financial Officer, effective June 1, 2022. Neils, who has over 15 years of experience in public accounting and finance, previously served as the interim CFO since January 3, 2022, and as the company's Controller since August 2019. His extensive experience is expected to support the company’s growth strategy and mission of 'honoring the gift of donation.' The leadership change aims to strengthen financial management amid ongoing challenges in the medical technology sector.
Xtant Medical Holdings, Inc. (NYSE American: XTNT) will release its financial results for Q1 2022 on May 5, 2022, before market open. The conference call to discuss these results will be hosted by CEO Sean Browne and Interim CFO Scott Neils at 9:00 AM ET. Investors can access the call via dial-in or webcast. Xtant specializes in surgical solutions for spinal disorders, focusing on orthobiologics and spinal implant systems for complex spine procedures.
Xtant Medical Holdings (NYSE American: XTNT) has announced that its President and CEO, Sean Browne, will present at the Canaccord Musculoskeletal Conference on March 22, 2022, at 2:00 p.m. CT in Chicago. The presentation will focus on the company’s innovative surgical solutions for spinal disorders. Investors can access a live webcast through the company’s website, with a replay available for 90 days post-event. Xtant specializes in orthobiologics and spinal implant systems aimed at enhancing spinal fusion in complex and degenerative procedures.
Xtant Medical Holdings, Inc. (NYSE American: XTNT) reported financial results for the fourth quarter and full year ended December 31, 2021. The company achieved 4% year-over-year revenue growth, totaling $55.3 million for 2021, driven by private label and OEM orthobiologics sales. The fourth quarter revenue remained stable at $14.0 million. However, gross margin decreased to 55.1% from 64.1% in Q4 2020. Operating expenses rose to $9.6 million in Q4. The net loss for the year improved to $4.8 million, compared to $7.0 million in 2020.
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