Financial Reports are Key to Consider: Xtant Medical Holdings, Inc. (NYSE:XTNT)

Xtant Medical Holdings, Inc. (NYSE:XTNT) changed +0.39% to recent value of $2.9765. The stock transacted 1,413 shares during most recent day however it has an average volume of 6,050 shares. It spotted trading -53.26% off 52-week high price. On the other end, the stock has been noted 84.88% away from the low price over the last 52-weeks. The company has 13.16M shares outstanding and market value of 39.176M.

Xtant Medical Holdings, Inc. (XTNT) recently stated financial and operating results for the fourth quarter and year ended December 31, 2018.

Fourth Quarter 2018 Financial Highlights and Recent Announcements:

  • Revenue for the fourth quarter of 2018 was $18.3M, contrast to $19.3M for the same previous year period
  • Net loss incurred in the fourth quarter of 2018 was $56.7M, contrast to a net loss of $28.4M for the same previous year period
  • Not Including non-cash impairment charges and inventory reserves, net loss in the fourth quarter of 2018 was $4.2M, contrast to a net loss of $8.6M for the same previous year period
  • Non-GAAP Adjusted EBITDA for the fourth quarter of 2018 was $1.3M, contrast to a loss of $0.9M for the same previous year period
  • OrbiMed Advisors agreed to amend and restate the credit facility to allow for an additional debt invest up to $10M to support the Company’s working capital needs
  • As before reported, the Company designated Ronald Berlin as Vice President & Chief Operations Officer, Greg Jensen as Vice President, Finance and Interim Chief Financial Officer and five senior sales executives, and has commenced a search for a new Chief Executive Officer

Fourth Quarter and Full Year 2018 Financial Results

Fourth quarter 2018 revenue was $18.3M, contrast to $19.3M for the same period in 2017. Full year 2018 revenue was $72.2M, contrast to $82.6M for 2017. The decreases occurred primarily Because of the decrease in sales in the spinal hardware implant product line.

Gross profit for the fourth quarter of 2018 was 39.7%, contrast to 53.2% for the same period in 2017 and was 60.2% for 2018, contrast to 60.6% in 2017. In the fourth quarter of 2018 and 2017, the Company raised its inventory reserve by $4.4M and $2.2M, respectively, primarily Because of excess inventory in the spinal implant product line. Not Including the inventory reserve adjustments in 2018 and 2017, gross profit would have been 63.7% and 64.6% for the fourth quarter, respectively, and 66.3% and 63.3%, for the full year, respectively.

Operating expenses for the fourth quarter of 2018 were $62.0M, contrast to $37.4M for the fourth quarter of 2017, and were $103.6M in 2018 contrast to $87.9M in 2017. In the fourth quarter of 2018 and 2017, the Company incurred non-cash impairment charges to goodwill and intangibles attributed to the X-Spine acquisition totaling $48.1M and $17.6M, respectively. Not Including the non-cash impairment charges, operating expenses were $13.8M in the fourth quarter of 2018 contrast to $19.8M in the fourth quarter of 2017, and $55.4M in 2018 contrast to $70.3M in 2017. These decreases were primarily attributable to lower commission expense as a result of lower revenue during 2018, a decrease in general and administrative expenses, and cost reduction initiatives to consolidate facilities.

Fourth quarter 2018 net loss was $56.7M, or $4.31 per share, contrast to fourth quarter 2017 net loss of $28.4M, or $18.77 per share. Net loss for 2018 was $70.1M, or $5.97 per share, contrast to $52.4M, or $34.76 per share, in 2017. Not Including the non-cash impairment charges and the inventory reserve charges, the net loss was $4.2M, or $0.32 per share, in the fourth quarter of 2018, contrast to $8.6M, or $5.70 per share, for the fourth quarter of 2017, and $17.6M, or $1.50 per share, in 2018 contrast to $32.6M, or $21.64 per share, in 2017.


The company plunged -1.47% in past week and declined -1.77% in one month. During the past three month period the stock dropped -4.29% and decreased -13.72% in past six month.  Quick ratio for most recent quarter was 1.50 while current ratio for time period was 3.00.

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