Xtant Medical’s first quarter sales fell 36.5% following the sale of some of its assets to Companion Spine; however, full-year guidance was increased, according to financial results posted May 13.
Quarterly sales were $20.9 million, down from $32.9 million in the same period last year. The revenue decrease was primarily due to sales of the company’s Coflex/CoFix assets and international hardware business to Companion Spine in December. Xtant Medical also had license revenue from Xtant’s Q-code and amniotic membrane agreements that didn’t repeat in the first quarter of 2026. The company also saw a net loss of $3.1 million.
Xtant Medical expects its full-year 2026 sales to reach between $101 million to $105 million. The increase in guidance reflects anticipated revenue from its license agreement with Dilon Technologies.
“The first quarter of 2026 and subsequent period were pivotal for Xtant,” CEO Sean Browne said in the release. “Proceeds from the Companion Spine transaction allowed us to strengthen our balance sheet while the Hemoblast Bellows distribution agreement announced in April expanded our addressable market into the multi-billion-dollar hemostatics category. We are particularly encouraged by the potential commercial synergies to be realized following the integration of Dilon’s 21-person field sales force into our own organization, positioning us to drive topline growth and margin expansion this year and beyond. These developments, together with recent product launches, position us to best serve the needs of surgeons and patients alike with our comprehensive biologics product portfolio.”
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