Xtant Medical Holdings reported a $9.4 million net loss in the second quarter of 2026, compared with net income of $3.6 million during the same period in 2025.
Here are five things to know from the company’s Aug. 11 financial results:
- Revenue fell to $23.0 million from $35.4 million in the second quarter of 2025. The decline primarily reflected the December 2025 sale of the company’s non-core Coflex/CoFix assets and international hardware business to Companion Spine, as well as license revenue that did not repeat because of changes in the reimbursement environment.
- Gross margin was 57.9%, compared with 68.6% during the same period in 2025.
- Operating expenses totaled $22.5 million, up from $19.7 million. The increase primarily reflected a $5.0 million exclusivity fee paid to medical equipment manufacturing company Dilon Technologies.
- Xtant ended June with $9.9 million in cash and cash equivalents, $23.0 million in total indebtedness and $0.7 million available under its revolving credit facility.
- The company reduced its full-year 2026 revenue guidance to $99 million to $103 million from $101 million to $105 million, citing lower-than-expected biologics revenue in the second quarter and ongoing headwinds related to its amnio product line.
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