Xtant Medical's Q1 revenues reach $21M — 9 key points on the financial report

Spinal Tech

Belgrade, Mont.-based Xtant Medical reported its first quarter 2016 financial results, according to EIN News Desk.

Here are nine key points:

 

1. Xtant's quarterly revenues hit $21 million, a 3 percent decrease from the same period in 2015.

 

2. The company's core recurring revenue rose to $20.5 million, a 6.8 percent increase from $19.2 million in the same period a year prior.

 

3. Xtant's gross profit increased to $14.1 million.

 

4. Gross margins increased to 67.2 percent, compared to pro forma 63.4 percent in the first quarter of 2015.

 

5. Xtant experienced consolidated EBITDA loss of $145,000 for the first quarter of 2016.

 

6. The company saw a consolidated net loss of $5.6 million, compared to $6 million in quarter one 2015.

 

7. Sales and marketing expenses increased to $10.5 million from $9.6 billion the same quarter last year.

 

8. General and administrative expenses decreased to $3.5 million from $3.9 million in quarter one 2015.

 

9. Cash on hand hit $4.7 million by March 31, 2016.

 

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