Q4 2024 Xtant Medical Holdings Inc Earnings Call Transcript
Key Points
- Xtant Medical Holdings Inc (XTNT) reported record fourth-quarter revenue of $31.5 million and full-year revenue of $117.3 million, marking a 12% quarter-over-quarter and 28% year-over-year growth.
- The company achieved positive adjusted EBITDA of $438,000 in the fourth quarter despite a $1.5 million inventory write-off related to the Surge Line acquisition.
- Operational efficiencies led to cash flows from operations exceeding $50 million in Q4, the first time since 2022.
- Biologics business grew by 21% in the quarter, driven by new product offerings such as Osteovi Plus and the ammdon product line.
- Xtant Medical Holdings Inc (XTNT) anticipates launching four new biologic products in 2025, including a growth factor product, which is expected to enhance revenue and gross profit.
- Gross margin for the fourth quarter of 2024 decreased to 50.8% from 61% in the same period in 2023, impacted by inventory charges and reduced production throughput.
- The hardware segment experienced a 10% decline in sales, attributed to strong previous year comparisons and ongoing EU supply chain issues.
- Net loss for the fourth quarter of 2024 was $3.2 million, or $0.02 per share, compared to a net loss of $4.3 million, or $0.03 per share, in the same period in 2023.
- Operating expenses, although reduced, still accounted for 56.8% of total revenue in Q4 2024, indicating room for further cost optimization.
- The company is prioritizing profitability over revenue growth, which may limit aggressive expansion opportunities in the short term.
Good day, everyone, and welcome to the Xtant Medical fourth-quarter and year-end 2024 earnings. (Operator Intructions)
It is now my pleasure to turn the floor over to your host, Brett Maas with Hayden IR. Sir, the floor is yours.
Thank you, operator. Joining me today is Sean Browne, President Chief Executive Officer, and Scott Neil's Chief Financial Officer. Today's call is being webcast and will be posted on the company's website for playback. During the course of this call, management may make certain forward-looking statements regarding future events and the company's expected future performance. These forward-looking statements reflect Xtan's current perspective on existing trends and information and can be identified as such words by expect, plan, will, may, anticipate, believe, should, intends, and other words with similar meaning. Such forwarding statements are not guarantees of future performance and involve risks and uncertainties, including those noted in the risk factor section of the company's
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