Xtant Q1 revenue drops 6.7%, net loss hits $2.8M: 4 key notes

Written by Laura Dyrda | May 16, 2019 | Print  | Email

Xtant Medical reported 2019 revenue was down slightly during the first quarter, but it did reduce year over year net loss and generated positive cash flow from operations.

 

Four things to know:

1. Revenue dropped 6.7 percent from $17.9 million to $16.7 million in the first quarter due to lower sales in the spinal hardware product line.

2. Xtant's gross margin in the first quarter was 64.6 percent, down from 68.2 percent over the same time period last year. The decrease was due to inventory reserves and manufacturing overhead absorption.

3. During the first quarter, operating expenses dropped from $13.9 million in 2018 to $11.5 million for 2019 as a result of lower sales commissions and travel expenses.

4. Xtant Medical's first quarter net loss was $2.8 million, down from $5.3 million over the same period last year.

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