Q4 2025 Xtant Medical Holdings Inc Earnings Call Transcript
Key Points
- Xtant Medical Holdings Inc (XTNT) reported a 3% revenue growth in the fourth quarter of 2025, reaching $32.4 million.
- The company successfully closed the Companion Spine transaction, which was transformational and sharpened focus on the core high-margin biologics business.
- For the full year of 2025, Xtant Medical Holdings Inc (XTNT) achieved total revenue of $133.9 million, aligning with the upper end of their guidance.
- Adjusted EBITDA for 2025 was $16.3 million, a significant improvement from a loss of $1.9 million in 2024, reflecting strong operational discipline.
- The company launched innovative products like nanOss Strata and CollagenX, which have received positive feedback and are expected to drive future growth.
- The Companion Spine transaction closed earlier than expected, resulting in a $2 million revenue loss for the quarter.
- The biologics product family was essentially flat for the fourth quarter of 2025, indicating challenges in driving growth in this segment.
- The hardware business is expected to continue declining, posing a potential drag on overall growth.
- The expiration of license revenue from Q-Code and amniotic membrane agreements will create headwinds in 2026.
- Operating expenses increased in the fourth quarter of 2025, with general and administrative expenses rising due to additional compensation plans.
Good morning, everyone, and welcome to the Xtant Medical fourth-quarter and full-year 2025 financial results. (Operator Instructions) Please note that this conference is being recorded. I will now turn the conference over to your host, Kevin Gardner of LifeSci Advisors. Kevin, please go ahead.
Thank you, operator, and welcome to Xtant Medical's fourth-quarter and full-year 2025 financial results call. Joining me today are Sean Browne, President and Chief Executive Officer; and Scott Neils, 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 Xtant's current perspective on existing trends and information, and can be identified by such words as expect, plan, will, may, anticipate, believe, should, intend, and other words with similar meaning.
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