Xtant Medical’s 2025 revenue reached $133.9 million, a 14% increase year over year, according to financial results posted March 31.
Six things to know:
1. Xtant Medical saw gross margins of 62.9% and a net income of $5 million for the full year 2025.
2. Net cash provided by operations in 2025 was $12.5 million.
3. Fourth quarter sales were $32.4 million, up 3% year over year.
4. Xtant Medical closed its Companion Spine transaction earlier than anticipated, reducing fourth quarter revenue by about $2 million.
5. The company expects 2026 revenue to reach $95 million to $99 million.
6. CEO Sean Browne said in a news release, “Looking ahead to 2026, with the recent receipt of amounts previously outstanding under our note receivable from the Companion Spine transaction, we have increased our current cash position to over $22 million while reducing our term loan balance to $11.2 million. Given our significantly strengthened financial position, we do not see any need to raise additional outside capital to run our operations and we expect to be free cash flow positive in 2026. Moreover, this year we plan to lean into our strengths in biologics and invest in our commercial team to focus on profitably growing our core biologics business.”
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