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Xtant Medical Holdings, Inc.

XTNT Healthcare Medical Devices

Xtant Medical Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $133.9 million, up 14.2% from fiscal 2024.

Revenue
−35.0%
EPS
−333.3%
Free cash flow
−882.0%
Total debt
−33.0%

Quarter to June 2026, against a year earlier

0.28 0.02 −6.67%
Market cap
$42.1M
P/E
0.0×
Fwd P/E
−2.5×
Dividend yield
—
F-score
8/9
Altman Z
0.03
Beneish M
−3.11
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 12.40%

Capital & Financial Ratios $m

Size
Market Cap 42.09
Revenue ttm 109.53
Net income ttm (11.14)
Free cash flow ttm (0.46)
Net debt Q 12.78
Valuation
P/E 0.00
Forward P/E (2.47) (negative: loss-making)
Price / sales 0.38
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.05
Financial health
Current ratio Q 2.16 (at or above 1.5: strong)
Debt / equity Q 0.57
Interest coverage Q (16.92)
Growth
Revenue growth Q −34.96% (below 0%: shrinking)
Operating income growth Q −298.29% (below 0%: shrinking)
EPS, this year −183.33% (below 0%: weak)
EPS, next year A +60.00% (at or above 15%: strong)
Revenue, next year A −25.75% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +81.58% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 1.5×; over the ten years it ranged from 0.5× in 2026 to 7.0× in 2016.
P/S against its own 10 years 26.62%
10-year low 10-year high
P/B against its own 10 years 0.90%
10-year low 10-year high
EV/Sales against its own 10 years 0.77%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6 6 17 10
Receivables 21 21 18 19
Inventory 37 39 30 33
Other — — — —
65 67 78 65
2023 2024 2025 Q'26
Payables 7 8 4 6
ST’ Debt 5 12 14 16
Other 1 1 — —
23 29 29 30

Compound Annual Growth %

10y 5y 3y
Sales 8.48% 20.22% 32.20%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 19.09% 28.55% 14.25%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY16 Estimate −1.56 Actual −3.72

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY16 −5.40 −5.64 Miss by 0.24
Q2 FY16 −4.80 −4.44 Beat by 0.36
Q3 FY16 −3.84 −4.80 Miss by 0.96
Q4 FY16 −1.56 −3.72 Miss by 2.16

EPS $

Mar Jun Sep Dec Year
’26 (0.02) (0.07) — — —
’25 0.00 0.02 0.01 0.00 0.03
’24 (0.03) (0.03) (0.04) (0.02) (0.12)
’23 (0.02) (0.02) 0.07 (0.03) 0.01
’22 (0.03) (0.02) (0.03) (0.02) (0.09)
’21 0.00 (0.01) (0.02) (0.03) (0.06)
’20 (0.19) (0.19) (0.10) (0.01) (0.25)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 21 23 — — —
’25 33 35 33 32 134
’24 28 30 28 32 117
’23 18 20 25 28 91
’22 13 15 14 15 58
’21 13 15 14 14 55
’20 15 11 14 14 53
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (7) — — —
’25 1 1 5 5 13
’24 (6) (5) (2) 1 (12)
’23 (2) (3) (4) (1) (10)
’22 (1) 0 (2) (2) (5)
’21 (1) 2 (1) 0 0
’20 (2) 0 0 1 (1)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (7) — — —
’25 0 1 4 5 10
’24 (6) (6) (4) 0 (16)
’23 (3) (3) (4) (1) (11)
’22 (1) 0 (3) (3) (7)
’21 (2) 2 (1) 0 (1)
’20 (2) 0 0 0 (2)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 90 83 72 65 53 55 58 91 117 134 110 +4.5% 99 110 119 (3.9%)
Gross margin, % 69.21 60.65 60.23 65.73 64.48 58.79 55.44 60.75 58.17 62.92 59.39 (6.3) pt
EBT (19) (52) (70) (8) (7) (5) (8) (1) (16) 7 (9) n/m
EBT margin, % (21.60) (63.44) (97.09) (12.56) (12.61) (8.77) (14.52) (1.14) (13.87) 5.23 (8.44) +26.8 pt
Net income (19) (52) (70) (8) (7) (5) (8) 1 (16) 5 (11) n/m
Per share, $
Per share, $ Revenue 85.23 54.78 6.15 4.91 1.87 0.65 0.62 0.77 0.88 0.96 0.78 (39.3%)
Earnings (18.49) (33.68) (5.97) (0.62) (0.25) (0.06) (0.09) 0.01 (0.12) 0.04 (0.08) n/m
Cash flow (13.64) (0.36) 0.10 (0.03) (0.03) 0.01 (0.06) (0.08) (0.09) 0.09 0.00 n/m
Capex (5.51) (1.07) (0.03) (0.04) (0.05) (0.02) (0.02) (0.01) (0.03) (0.02) (0.01) (48.0%)
Free cash flow (19.15) (1.43) 0.07 (0.07) (0.07) (0.02) (0.07) (0.09) (0.12) 0.07 0.00 n/m
Book value (6.70) (38.93) (3.73) (3.36) 0.51 0.36 0.36 0.43 0.32 0.37 0.29 n/m
Shares, m 1 2 12 13 29 85 94 119 134 140 140 +72.1%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 19.12 0.00 1.9
P/S 0.08 0.12 0.26 0.33 0.64 0.87 1.09 1.58 0.50 0.81 0.38 0.6
P/B 0.00 0.00 0.00 0.00 2.36 1.55 1.84 2.81 1.37 2.14 1.05 1.2
EV/Sales 1.50 2.56 2.16 1.43 0.94 0.81 1.00 1.75 0.74 0.87 0.50 1.4
EV/FCF (6.68) (98.40) 184.45 (96.80) (24.55) (31.00) (8.42) (14.83) (5.55) 11.24 (119.50) (9.1)
Cash, $m
Cash, $m Operating cash flow (14) (1) 1 0 (1) 0 (5) (10) (12) 13 1 n/m
Capex (6) (2) 0 (1) (1) (2) (2) (1) (4) (2) (1) (10.5%)
Free cash flow (20) (2) 1 (1) (2) (1) (7) (11) (16) 10 0 n/m
Balance, $m
Balance, $m Working capital 18 14 23 23 6 33 34 42 39 49 35 +11.8%
Net debt 128 136 72 72 16 (3) (5) 16 28 8 13 (26.4%)
Shareholders’ equity (7) (59) (44) (44) 15 31 34 51 43 51 40 n/m
Returns, %
Returns, % ROA (13.67) (41.96) (92.16) (18.36) (16.60) (10.09) (14.77) 0.86 (17.64) 5.29 (12.16) +19.0 pt
ROIC (3.90) (30.55) (134.10) (5.14) (1.55) (8.60) (14.44) (9.43) (10.64) 7.71 (12.43) +11.6 pt
ROE (2,162.11) 159.37 136.82 18.69 47.31 (21.36) (26.09) 1.54 (34.88) 10.59 (25.16) +2,172.7 pt
People
People Employees 257 174 166 141 110 118 135 215 232 151 — (5.7%)
Revenue/emp, $m 0.35 0.47 0.43 0.46 0.48 0.47 0.43 0.42 0.51 0.89 — +10.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Xtant Medical Holdings, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MYO Myomo, Inc. $47.1M — (loss-making) — (loss-making) +21.26% (above 0%: growing) n/m +80.02% (above 0%: growing) 72.13% (19.26%) Compare
MDAI Spectral AI, Inc. $44.4M — (loss-making) — (loss-making) −30.42% (below 0%: shrinking) n/m −21.86% (below 0%: shrinking) 31.58% (122.70%) Compare
XTNT Xtant Medical Holdings, Inc. $42.1M — (loss-making) — (loss-making) −34.96% (below 0%: shrinking) n/m −881.96% (below 0%: shrinking) 57.88% (39.81%)
CVRX CVRx, Inc. $39.2M — (loss-making) — (loss-making) −5.84% (below 0%: shrinking) n/m −9.91% (below 0%: shrinking) 86.74% (94.31%) Compare
TELA TELA Bio, Inc. $35.2M — (loss-making) — (loss-making) −4.49% (below 0%: shrinking) n/m −17.72% (below 0%: shrinking) 72.77% (48.12%) Compare
ELUT Elutia Inc. $33.3M 0.6× — (loss-making) −11.65% (below 0%: shrinking) n/m −2.52% (below 0%: shrinking) 59.62% (327.85%) Compare
RPID Rapid Micro Biosystems, Inc. $31.1M — (loss-making) — (loss-making) +10.91% (above 0%: growing) n/m −23.97% (below 0%: shrinking) 15.05% (152.99%) Compare
NSPR InspireMD, Inc. $29.7M — (loss-making) — (loss-making) −0.39% (below 0%: shrinking) n/m −26.00% (below 0%: shrinking) (43.70%) (815.64%) Compare
SNWV Sanuwave Health Inc. $19.4M 1.3× — (loss-making) −3.13% (below 0%: shrinking) n/m +86.75% (above 0%: growing) 76.23% (2.88%) Compare
Median of peers $34.2M — — −3.81% — −13.81% 65.88% (108.50%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 23 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.35m 1.65m 118.79
2024 2.46m 151.24k 67.12
2023 1.71m 2.37m 171.21
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Xtant Medical Holdings, Inc. (XTNT) Latest News

27 Aug

Impact 4 ·

11 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript
Impact 3 ·

15 May

Impact 3 · · MarketBeat transcript

13 May

Impact 4 · · Moby
Impact 4 · · Benzinga transcript
Impact 3 · · GuruFocus.com
Impact 3 · · PR Newswire

6 May

Impact 4 · · PR Newswire

13 Apr

Impact 4 · · PR Newswire

31 Mar

Impact 4 ·
Impact 4 · · Moby
Impact 4 · · MarketBeat
Impact 4 · · PR Newswire

2 Mar

Impact 4 · · PR Newswire

11 Dec

Impact 4 · · PR Newswire

9 Dec

Impact 3 ·

1 Dec

Impact 4 · · PR Newswire

11 Nov

Impact 4 · · GuruFocus.comGuruFocus.com transcript

10 Nov

Impact 3 · · PR Newswire

5 Nov

Impact 4 · · PR Newswire

14 Oct

Impact 4 · · Simply Wall St.

12 Aug

Impact 3 ·

6 Aug

Impact 3 ·

28 Jul

Impact 3 · · NewMediaWire

9 Jul

Impact 3 · · medicaldevice-network.com

8 Jul

Impact 4 · · Business Wire
Impact 4 ·

28 May

Impact 4 · · PR Newswire
stockrow.com/XTNT · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com