Xtant Medical’s third quarter revenue grew 19% year over year with $33.3 million, according to financial results posted Nov. 11.
Five things to know:
1. Xtant Medical’s net income was $1.3 million. In the same time last year the company had a net loss of $5 million.
2. As of Sept. 30, the company had $10.6 million of cash and cash equivalents.
3. Xtant Medical is reiterating its full-year guidance and expects to see $131 million to $135 million in revenue.
4. The company expects its pending sale of non-core Coflex and CoFix assets to Companion Spine to close by the end of 2025.
5. “Our strong third quarter results again reflect our recent emphasis on self-sustainability through positive free cash flow,” President and CEO Sean Browne, said in a news release. “We also delivered positive net income and adjusted EBITDA, representing significant improvements over the prior year quarter. Looking ahead, we expect that new product launches, together with measured investments in sales force expansion, will position us to deliver accelerating biologics product revenue growth while we continue to prudently manage expenses.”
