Saturday 17 October 2026
Export XTNT’s income statement to Excel — free account
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. In the quarter to June 2026, revenue fell 35.0%, EPS fell 333.3%, free cash flow fell 882.0% and total debt fell 33.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
0.28
0.02
−6.67%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 5.40 | 3.48 | 1.61 | 1.42 | 0.55 | 0.56 | 0.43 | 0.56 | 0.33 | 0.34 |
Analyst estimates 2026–2028 Powerpack |
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| High | 45.00 | 14.52 | 11.50 | 4.75 | 3.50 | 6.58 | 0.92 | 1.45 | 1.31 | 0.95 | |||||
| People | |||||||||||||||
| People | Employees | 257 | 174 | 166 | 141 | 110 | 118 | 135 | 215 | 232 | 151 | ||||
| Revenue/emp, $m | 0.35 | 0.47 | 0.43 | 0.46 | 0.48 | 0.47 | 0.43 | 0.42 | 0.51 | 0.89 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 90 | 83 | 72 | 65 | 53 | 55 | 58 | 91 | 117 | 134 | ||||
| Gross margin, % | 69.21 | 60.65 | 60.23 | 65.73 | 64.48 | 58.79 | 55.44 | 60.75 | 58.17 | 62.92 | |||||
| EBT | (19) | (52) | (70) | (8) | (7) | (5) | (8) | (1) | (16) | 7 | |||||
| EBT margin, % | (21.60) | (63.44) | (97.09) | (12.56) | (12.61) | (8.77) | (14.52) | (1.14) | (13.87) | 5.23 | |||||
| Net income | (19) | (52) | (70) | (8) | (7) | (5) | (8) | 1 | (16) | 5 | |||||
| Depreciation | 7 | 8 | 7 | 3 | 2 | 1 | 1 | 3 | 4 | 5 | |||||
| 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 | ||||
| Earnings | (18.49) | (33.68) | (5.97) | (0.62) | (0.25) | (0.06) | (0.09) | 0.01 | (0.12) | 0.04 | |||||
| Cash flow | (13.64) | (0.36) | 0.10 | (0.03) | (0.03) | 0.01 | (0.06) | (0.08) | (0.09) | 0.09 | |||||
| Capex | (5.51) | (1.07) | (0.03) | (0.04) | (0.05) | (0.02) | (0.02) | (0.01) | (0.03) | (0.02) | |||||
| Free cash flow | (19.15) | (1.43) | 0.07 | (0.07) | (0.07) | (0.02) | (0.07) | (0.09) | (0.12) | 0.07 | |||||
| Book value | (6.70) | (38.93) | (3.73) | (3.36) | 0.51 | 0.36 | 0.36 | 0.43 | 0.32 | 0.37 | |||||
| Shares, m | 1 | 2 | 12 | 13 | 29 | 85 | 94 | 119 | 134 | 140 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19.12 | ||||
| P/S | 0.08 | 0.12 | 0.26 | 0.33 | 0.64 | 0.87 | 1.09 | 1.58 | 0.50 | 0.81 | |||||
| P/B | 0.00 | 0.00 | 0.00 | 0.00 | 2.36 | 1.55 | 1.84 | 2.81 | 1.37 | 2.14 | |||||
| EV/Sales | 1.50 | 2.56 | 2.16 | 1.43 | 0.94 | 0.81 | 1.00 | 1.75 | 0.74 | 0.87 | |||||
| EV/FCF | (6.68) | (98.40) | 184.45 | (96.80) | (24.55) | (31.00) | (8.42) | (14.83) | (5.55) | 11.24 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | (14) | (1) | 1 | 0 | (1) | 0 | (5) | (10) | (12) | 13 | ||||
| Capex | (6) | (2) | 0 | (1) | (1) | (2) | (2) | (1) | (4) | (2) | |||||
| Free cash flow | (20) | (2) | 1 | (1) | (2) | (1) | (7) | (11) | (16) | 10 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 18 | 14 | 23 | 23 | 6 | 33 | 34 | 42 | 39 | 49 | ||||
| Total debt | 131 | 139 | 79 | 77 | 18 | 16 | 16 | 22 | 34 | 25 | |||||
| Net debt | 128 | 136 | 72 | 72 | 16 | (3) | (5) | 16 | 28 | 8 | |||||
| Shareholders’ equity | (7) | (59) | (44) | (44) | 15 | 31 | 34 | 51 | 43 | 51 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (13.67) | (41.96) | (92.16) | (18.36) | (16.60) | (10.09) | (14.77) | 0.86 | (17.64) | 5.29 | ||||
| ROIC | (3.90) | (30.55) | (134.10) | (5.14) | (1.55) | (8.60) | (14.44) | (9.43) | (10.64) | 7.71 | |||||
| ROE | (2,162.11) | 159.37 | 136.82 | 18.69 | 47.31 | (21.36) | (26.09) | 1.54 | (34.88) | 10.59 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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 |
|---|---|---|---|---|---|---|---|---|---|
| MDAI Spectral AI, Inc. | $49.6M | — (loss-making) | — (loss-making) | −30.42% (below 0%: shrinking) | n/m | −21.86% (below 0%: shrinking) | 31.58% | (122.70%) | Compare |
| TLIS Talis Biomedical Corporation | $46.3M | — (loss-making) | — (loss-making) | −94.01% (below 0%: shrinking) | n/m | +23.80% (above 0%: growing) | 91.78% | 0.00% | Compare |
| SRTS Sensus Healthcare, Inc. | $45.6M | — (loss-making) | — (loss-making) | −68.69% (below 0%: shrinking) | n/m | −201.65% (below 0%: shrinking) | 33.58% | (138.86%) | Compare |
| TELA TELA Bio, Inc. | $45.6M | — (loss-making) | — (loss-making) | −4.49% (below 0%: shrinking) | n/m | −17.72% (below 0%: shrinking) | 72.77% | (48.12%) | Compare |
| SNWV Sanuwave Health Inc. | $44.5M | 3.0× | — (loss-making) | −3.13% (below 0%: shrinking) | n/m | +86.75% (above 0%: growing) | 76.23% | (2.88%) | Compare |
| XTNT Xtant Medical Holdings, Inc. | $42.5M | — (loss-making) | — (loss-making) | −34.96% (below 0%: shrinking) | n/m | −881.96% (below 0%: shrinking) | 57.88% | (39.81%) | |
| RPID Rapid Micro Biosystems, Inc. | $42.4M | — (loss-making) | — (loss-making) | +10.91% (above 0%: growing) | n/m | −23.97% (below 0%: shrinking) | 15.05% | (152.99%) | Compare |
| NNOX Nano-X Imaging Ltd. | $38.6M | — (loss-making) | — (loss-making) | +36.71% (above 0%: growing) | n/m | −21.37% (below 0%: shrinking) | (1,050.87%) | (1,334.91%) | Compare |
| CVRX CVRx, Inc. | $37.0M | — (loss-making) | — (loss-making) | +15.57% (above 0%: growing) | n/m | −11.18% (below 0%: shrinking) | 87.39% | (82.92%) | Compare |
| Median of peers | $45.0M | — | — | −3.81% | — | −19.54% | 53.18% | (102.81%) |
Xtant Medical Holdings, Inc. (XTNT) key facts
- Strength: Xtant Medical Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $133.9 million, up 14.2% from fiscal 2024.
- Xtant Medical Holdings, Inc. (XTNT) is a Medical Devices company in the Healthcare sector, listed on NYSE American.
- As of October 16, 2026, XTNT traded at $0.28, a market capitalization of $42.5 million.
- Return on equity was 10.6% and debt-to-equity 0.57.
- Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 0.03 (distress zone) for fiscal 2025.