What is Xtant Medical Holdings, Inc.'s earnings per share (EPS)?

Xtant Medical Holdings, Inc. (XTNT) reported diluted earnings per share of $0.03 for fiscal year 2025. This represents a 125.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Xtant Medical Holdings, Inc. (XTNT) Financials

XTNT

Trailing 12 months to June 30, 2026

Revenue $109.5M -14.3% YoY

Net Income -$16.1M -235.9% YoY

EPS (Diluted) -$0.08 -100.0% YoY

Free Cash Flow -$696K +75.4% YoY

Market Cap $45.7M as of Oct 10, 2026

Price / Sales 0.4x on $109.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 1.1x on $40.0M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 11, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XTNT SEC filings page.

Xtant Medical Holdings, Inc. (XTNT) reported $109.5M in revenue over the twelve months to Jun 30, 2026, down 14.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI XTNT FY2025 2026-10-03

FY2025 marks a shift from expansion funded by outside capital to a profitable, cash-generating business with lower leverage.

The important shift is not just sales growth: gross margin widened from 58.2% in FY2024 to 62.9% in FY2025. Operating margin then moved from -10.3% to 5.4%, showing that additional gross profit finally absorbed the company’s cost base.

Cash generation improved more than the near-zero bottom line implies: operating cash flow reached $12.5M and free cash flow $10.2M in FY2025. Inventory and receivables both fell from FY2024, so the cash result reflects a working-capital release alongside operating improvement, not accounting earnings alone.

The balance sheet became less financing-dependent: total liabilities fell from $50.9M in FY2024 to $43.2M in FY2025. Long-term debt was cut from $22.0M to $11.0M as financing cash flow turned negative, suggesting internally generated cash supported deleveraging rather than fresh funding.

Financial Health Signals

Financial Health Score 60/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Xtant Medical Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Xtant Medical Holdings, Inc. held $17.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $12.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Xtant Medical Holdings, Inc. scores 86/100 among other emerging companies.

Dilution

Xtant Medical Holdings, Inc. had 140M shares outstanding at the end of fiscal year 2025, against 139M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Xtant Medical Holdings, Inc. scores 60/100 among other emerging companies.

R&D Intensity

Xtant Medical Holdings, Inc. spent $2.1M on research and development in fiscal year 2025, which was 1.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Xtant Medical Holdings, Inc. scores 13/100 among other emerging companies.

Revenue Progress

Xtant Medical Holdings, Inc. reported revenue of $133.9M in fiscal year 2025, against $117.3M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Xtant Medical Holdings, Inc. scores 65/100 among other emerging companies.

Burn Trend

Xtant Medical Holdings, Inc.'s operations generated $12.5M of cash in fiscal year 2025, against $11.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Xtant Medical Holdings, Inc. scores 96/100 among other emerging companies.

Balance Sheet

Xtant Medical Holdings, Inc.'s cash, cash equivalents and investments came to $17.1M at the end of fiscal year 2025, against $43.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Xtant Medical Holdings, Inc. scores 39/100 among other emerging companies.

Altman Z-Score Distress

-0.85

Xtant Medical Holdings, Inc. scores -0.85, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($45.7M) relative to total liabilities ($43.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

8/9

Xtant Medical Holdings, Inc. passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

N/A

Xtant Medical Holdings, Inc. reported $5K of net income while generating $12.5M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Interest Coverage At Risk

1.98x

Xtant Medical Holdings, Inc. earns $1.98 in operating income for every $1 of interest expense ($7.3M vs $3.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$23.0M

YoY-35.0%

QoQ+10.3%

5Y CAGR+9.0%

10Y CAGR+0.7%

Xtant Medical Holdings, Inc. generated $23.0M in revenue in Q2 2026. This represents a decrease of 35.0% from the same quarter a year earlier. Against the prior quarter it is up 10.3%.

EBITDA

-$8.7M

YoY-246.3%

QoQ-262.9%

Xtant Medical Holdings, Inc.'s EBITDA was -$8.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 246.3% from the same quarter a year earlier. Against the prior quarter it is down 262.9%.

Net Income

-$9.4M

YoY-365.2%

QoQ-204.7%

Xtant Medical Holdings, Inc. reported -$9.4M in net income in Q2 2026. This represents a decrease of 365.2% from the same quarter a year earlier. Against the prior quarter it is down 204.7%.

EPS (Diluted)

-$0.07

YoY-450.0%

QoQ-250.0%

Xtant Medical Holdings, Inc. earned -$0.07 per diluted share (EPS) in Q2 2026. This represents a decrease of 450.0% from the same quarter a year earlier. Against the prior quarter it is down 250.0%.

Cash & Balance Sheet

Free Cash Flow

-$7.6M

YoY-930.2%

QoQ-227.3%

Xtant Medical Holdings, Inc. recorded an outflow of $7.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 930.2% from the same quarter a year earlier. Against the prior quarter it is down 227.3%.

Cash & Debt

$9.9M

YoY+42.6%

QoQ-18.7%

5Y CAGR-13.4%

10Y CAGR+16.1%

Xtant Medical Holdings, Inc. held $9.9M in cash against $7.3M in long-term debt as of Q2 2026.

Shares Outstanding

140M

YoY+7.7%

QoQ0.0%

5Y CAGR+10.1%

10Y CAGR+27.7%

Xtant Medical Holdings, Inc. had 140M shares outstanding in Q2 2026. This represents an increase of 7.7% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

57.9%

YoY-10.7pp

QoQ+0.6pp

5Y change-5.7pp

10Y change-10.6pp

Xtant Medical Holdings, Inc.'s gross margin was 57.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 10.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Operating Margin

-39.8%

YoY-52.9pp

QoQ-25.8pp

5Y change-36.5pp

10Y change-29.9pp

Xtant Medical Holdings, Inc.'s operating margin was -39.8% in Q2 2026, reflecting core business profitability. This is down 52.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 25.8 percentage points.

Net Margin

-40.9%

YoY-50.9pp

QoQ-26.1pp

5Y change-36.0pp

10Y change-20.1pp

Xtant Medical Holdings, Inc.'s net profit margin was -40.9% in Q2 2026, showing the share of revenue converted to profit. This is down 50.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 26.1 percentage points.

Return on Equity

-23.5%

YoY-30.8pp

QoQ-17.2pp

5Y change-21.4pp

Xtant Medical Holdings, Inc.'s ROE was -23.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 30.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 17.2 percentage points.

Capital Allocation

R&D Spending

$695K

YoY+22.8%

QoQ+59.8%

5Y CAGR+23.4%

10Y CAGR-1.2%

Xtant Medical Holdings, Inc. invested $695K in research and development in Q2 2026. This represents an increase of 22.8% from the same quarter a year earlier. Against the prior quarter it is up 59.8%.

Capital Expenditures

$247K

YoY-32.5%

QoQ+27.3%

5Y CAGR-14.4%

10Y CAGR-17.3%

Xtant Medical Holdings, Inc. invested $247K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 32.5% from the same quarter a year earlier. Against the prior quarter it is up 27.3%.

Share Buybacks

Not reported for Q2 2026.

XTNT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

XTNT quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$109.5M	$133.9M+14.2%	$117.3M+28.4%	$91.3M+57.5%	$58.0M+4.9%	$55.3M+3.6%	$53.3M-17.5%	$64.7M-10.4%	$72.2M-12.6%	$82.6M-8.2%	$90.0M+51.7%	$59.3M+68.0%	$35.3M+6.8%	$33.1M+0.3%	$33.0M+9.4%	$30.1M
Cost of Revenue	$44.5M	$49.7M+1.2%	$49.1M+36.9%	$35.8M+38.7%	$25.8M+13.4%	$22.8M+20.2%	$18.9M-14.5%	$22.2M-22.8%	$28.7M-11.7%	$32.5M+17.3%	$27.7M+36.8%	$20.3M+55.5%	$13.0M-8.1%	$14.2M+37.2%	$10.3M+13.5%	$9.1M
Gross Profit	$65.0M	$84.3M+23.5%	$68.2M+23.0%	$55.5M+72.6%	$32.1M-1.1%	$32.5M-5.5%	$34.4M-19.1%	$42.5M-2.2%	$43.5M-13.2%	$50.1M-19.6%	$62.3M+59.4%	$39.1M+75.3%	$22.3M+18.1%	$18.9M-16.6%	$22.6M+7.6%	$21.0M
R&D Expenses	$2.2M	$2.1M-11.9%	$2.4M+78.5%	$1.3M+46.0%	$915K+5.2%	$870K+32.4%	$657K-29.5%	$932K-45.2%	$1.7M-30.3%	$2.4M-28.4%	$3.4M+33.9%	$2.5M+76.5%	$1.4M+152.1%	$572K	N/A	N/A
SG&A Expenses	$27.1M	$29.4M+2.4%	$28.7M+11.0%	$25.9M+67.2%	$15.5M+7.0%	$14.4M+7.0%	$13.5M-22.1%	$17.3M+21.5%	$14.3M-6.4%	$15.2M-3.3%	$15.8M+21.3%	$13.0M+46.2%	$8.9M-12.9%	$10.2M-8.4%	$11.1M+60.6%	$6.9M
Operating Income	-$10.5M	$7.3M+160.3%	-$12.1M-18.9%	-$10.2M-50.4%	-$6.8M-75.3%	-$3.9M-413.2%	-$751K+66.7%	-$2.3M+96.2%	-$60.1M-58.8%	-$37.8M-401.4%	-$7.5M+37.5%	-$12.1M-92.8%	-$6.3M+30.5%	-$9.0M-82.2%	-$4.9M+23.3%	-$6.5M
EBITDA	N/A	$12.5M+259.3%	-$7.8M-12.4%	-$7.0M-27.8%	-$5.5M-116.6%	-$2.5M-289.9%	$1.3M+49.2%	$890K+101.7%	-$53.5M-81.8%	-$29.4M-9598.6%	-$303K+95.8%	-$7.2M-35.3%	-$5.3M+35.6%	-$8.3M-98.3%	-$4.2M+26.9%	-$5.7M
Interest Expense	$2.8M	$3.7M-11.8%	$4.2M+41.6%	$2.9M+73.6%	$1.7M+70.1%	$995K-83.4%	$6.0M+3.5%	$5.8M-43.1%	$10.1M-31.0%	$14.7M+19.9%	$12.3M+58.6%	$7.7M+36.6%	$5.7M+21.6%	$4.7M+149.5%	$1.9M+60.4%	$1.2M
Income Tax	$1.9M	$2.0M+984.5%	$187K+111.0%	-$1.7M-2559.4%	$69K	N/A	$296K+202.0%	$98K	N/A	$0-100.0%	$50K+100.3%	-$17.5M	$0	$0	$0	N/A
Net Income	-$16.1M	$5K+130.2%	-$16K-2592.3%	$660+100.0%	-$8.5M-75.0%	-$4.8M+31.0%	-$7.0M+14.6%	-$8.2M+88.3%	-$70.1M-33.7%	-$52.4M-168.9%	-$19.5M-796.5%	-$2.2M+79.3%	-$10.5M+17.2%	-$12.7M-64.6%	-$7.7M-156.6%	-$3.0M
EPS (Basic)	N/A	$0.04+133.3%	-$0.12-1300.0%	$0.01+111.1%	-$0.09-50.0%	-$0.06+76.0%	-$0.25+60.3%	-$0.63+89.4%	-$5.97+82.8%	-$34.76-88.3%	-$18.46-7591.7%	-$0.24+86.4%	-$1.76+37.1%	-$2.80-1455.6%	-$0.18-125.0%	-$0.08
EPS (Diluted)	-$0.08	$0.03+125.0%	-$0.12	$0.01	-$0.09-50.0%	-$0.06	-$0.25	-$0.63+89.4%	-$5.97	-$34.76-88.3%	-$18.46	-$0.24	-$1.76	-$2.80	-$0.18-125.0%	-$0.08
Diluted Shares (Avg)	N/A	150M+12.3%	134M	127M	94M+10.1%	85M	28M	13M+12.1%	12M	2M+42.8%	1M	9M	6M	5M	42M+9.0%	39M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$23.0M-35.0%	$20.9M-36.5%	$32.4M+2.7%	$33.3M+19.0%	$35.4M+18.3%	$32.9M+18.0%	$31.5M+12.1%	$27.9M+11.7%
Cost of Revenue	$9.7M-12.8%	$8.9M-29.6%	$14.6M-5.7%	$11.3M-3.2%	$11.1M-2.1%	$12.7M+19.8%	$15.5M+41.2%	$11.6M+20.1%
Gross Profit	$13.3M-45.1%	$12.0M-40.9%	$17.8M+10.8%	$22.0M+34.9%	$24.3M+30.7%	$20.2M+17.0%	$16.0M-6.5%	$16.3M+6.3%
R&D Expenses	$695K+22.8%	$435K-1.8%	$459K-11.9%	$634K-9.6%	$566K-11.0%	$443K-15.9%	$521K+5.9%	$701K+43.1%
SG&A Expenses	$6.4M-13.9%	$6.3M-16.7%	$7.3M+27.9%	$7.1M-5.6%	$7.5M-3.0%	$7.5M-3.2%	$5.7M-35.7%	$7.5M+4.9%
Operating Income	-$9.2M-298.3%	-$2.9M-375.0%	-$944K+49.8%	$2.5M+167.3%	$4.6M+257.0%	$1.1M+130.6%	-$1.9M+50.6%	-$3.8M-11.6%
EBITDA	-$8.7M-246.3%	-$2.4M-211.8%	$805K+205.6%	$3.6M+236.0%	$5.9M+404.4%	$2.1M+186.7%	-$762K+73.8%	-$2.7M-7.7%
Interest Expense	$542K-46.0%	$599K-42.7%	$718K-36.7%	$904K-24.6%	$1.0M+1.2%	$1.0M+25.1%	$1.1M+38.8%	$1.2M+57.8%
Income Tax	$73K-71.4%	$27K+208.0%	$1.5M+7238.1%	$257K+314.5%	$255K+608.3%	-$25K-136.8%	$21K-96.4%	$62K+102.7%
Net Income	-$9.4M-365.2%	-$3.1M-5425.9%	-$4.9M-137.0%	$1.3M+126.0%	$3.5M+191.9%	$58K+101.3%	$13.3M+367.4%	-$5.0M-154.4%
EPS (Basic)	-$0.07-333.3%	-$0.02	$0.00+100.0%	$0.01+125.0%	$0.03+200.0%	$0.00+100.0%	-$0.02+33.3%	-$0.04-157.1%
EPS (Diluted)	-$0.07-450.0%	-$0.02	$0.00+100.0%	$0.01+125.0%	$0.02+166.7%	$0.00+100.0%	-$0.02+33.3%	-$0.04-157.1%
Diluted Shares (Avg)	140M-5.6%	140M-2.3%	N/A	150M+11.3%	149M+14.1%	143M+10.1%	N/A	135M-0.4%

XTNT Balance Sheet

XTNT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$94.1M+0.3%	$93.8M+1.3%	$92.6M+53.8%	$60.2M+10.1%	$54.7M+31.9%	$41.5M-3.9%	$43.2M-7.0%	$46.4M-56.1%	$105.7M-26.6%	$144.1M+2.2%	$141.0M+404.6%	$28.0M-3.2%	$28.9M-16.3%	$34.5M+48.9%	$23.2M
Current Assets	$78.2M+16.6%	$67.1M+3.5%	$64.9M+31.5%	$49.3M+11.3%	$44.3M+41.3%	$31.4M-2.7%	$32.2M-7.0%	$34.7M-12.7%	$39.7M-19.0%	$49.0M+8.8%	$45.0M+135.7%	$19.1M-0.3%	$19.2M-25.0%	$25.6M+54.0%	$16.6M
Cash & Equivalents	$17.1M+175.1%	$6.2M+8.5%	$5.7M-71.8%	$20.3M+11.3%	$18.2M+679.3%	$2.3M-55.3%	$5.2M-23.0%	$6.8M+138.0%	$2.9M+10.8%	$2.6M-59.5%	$6.4M+42.5%	$4.5M+46.7%	$3.0M-38.2%	$4.9M+555.8%	$751K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$30.3M-21.7%	$38.6M+4.7%	$36.9M+113.4%	$17.3M-3.7%	$17.9M-16.2%	$21.4M+33.0%	$16.1M-6.9%	$17.3M-22.8%	$22.4M-14.6%	$26.3M+15.8%	$22.7M+137.3%	$9.6M-11.1%	$10.8M-18.2%	$13.1M+55.0%	$8.5M
Accounts Receivable	$17.8M-13.8%	$20.7M-4.8%	$21.7M+99.9%	$10.9M+51.7%	$7.2M+4.0%	$6.9M-32.0%	$10.1M+1.3%	$10.0M-21.4%	$12.7M-33.1%	$19.0M+23.4%	$15.4M+247.5%	$4.4M-7.7%	$4.8M-33.0%	$7.2M+1.0%	$7.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$6.1M-16.8%	$7.3M0.0%	$7.3M+127.8%	$3.2M0.0%	$3.2M0.0%	$3.2M0.0%	$3.2M0.0%	$3.2M-92.3%	$41.5M0.0%	$41.5M0.0%	$41.5M	$0	$0-100.0%	$729K0.0%	$729K
Total Liabilities	$43.2M-15.1%	$50.9M+23.3%	$41.3M+58.4%	$26.1M+9.4%	$23.8M-11.7%	$27.0M-69.1%	$87.4M-3.1%	$90.2M-45.1%	$164.4M+8.8%	$151.2M+14.4%	$132.2M+269.9%	$35.7M+9.2%	$32.7M+8.1%	$30.3M+71.3%	$17.7M
Current Liabilities	$29.5M+3.2%	$28.6M+24.3%	$23.0M+51.1%	$15.2M+37.4%	$11.1M-56.8%	$25.6M+173.2%	$9.4M-22.1%	$12.1M-53.3%	$25.8M-17.0%	$31.1M+44.9%	$21.5M+153.2%	$8.5M-12.1%	$9.7M+11.0%	$8.7M-20.5%	$10.9M
Non-Current Liabilities	$13.7M-38.5%	$22.3M+22.0%	$18.3M+68.6%	$10.8M-14.9%	$12.7M+877.1%	$1.3M-98.3%	$78.0M-0.2%	$78.1M-43.6%	$138.6M+15.4%	$120.1M+8.5%	$110.7M+306.3%	$27.2M+18.1%	$23.1M+7.0%	$21.6M+220.6%	$6.7M
Long-Term Debt	$11.0M-50.0%	$22.0M+28.4%	$17.2M+77.2%	$9.7M-17.8%	$11.8M	N/A	$76.2M-2.2%	$77.9M+16.1%	$67.1M-43.7%	$119.2M+169.5%	$44.2M+111.9%	$20.9M+27.4%	$16.4M+13.1%	$14.5M+118.2%	$6.6M
Total Equity	$51.0M+18.6%	$43.0M-16.3%	$51.3M+50.3%	$34.2M+10.6%	$30.9M+112.8%	$14.5M+132.8%	-$44.2M-1.0%	-$43.8M+25.4%	-$58.7M-729.8%	-$7.1M-179.7%	$8.9M+214.2%	-$7.8M-102.4%	-$3.8M-190.8%	$4.2M-23.1%	$5.5M
Retained Earnings	-$254.5M+1.9%	-$259.5M-6.8%	-$243.0M+0.3%	-$243.7M-3.6%	-$235.2M-2.1%	-$230.3M-3.2%	-$223.3M-3.8%	-$215.0M-48.4%	-$144.9M-56.6%	-$92.5M-26.7%	-$73.0M-3.1%	-$70.9M-17.4%	-$60.4M-26.6%	-$47.7M-19.3%	-$40.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$79.7M-23.0%	$78.0M-18.6%	$94.1M+0.3%	$106.3M+7.5%	$103.5M+8.3%	$95.8M+2.0%	$93.8M+1.3%	$98.9M+7.5%
Current Assets	$64.8M-14.3%	$62.6M-9.4%	$78.2M+16.6%	$78.3M+9.7%	$75.6M+9.6%	$69.1M+3.9%	$67.1M+3.5%	$71.4M+11.4%
Cash & Equivalents	$9.9M+42.6%	$12.1M+141.2%	$17.1M+175.1%	$10.4M+57.7%	$6.9M+28.7%	$5.0M+10.7%	$6.2M+8.5%	$6.6M-23.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$33.3M-17.1%	$31.9M-17.9%	$30.3M-21.7%	$40.7M-2.8%	$40.1M-0.9%	$38.8M+0.2%	$38.6M+4.7%	$41.9M+22.0%
Accounts Receivable	$19.4M-28.0%	$17.2M-26.8%	$17.8M-13.8%	$25.5M+24.2%	$27.0M+27.2%	$23.5M+9.3%	$20.7M-4.8%	$20.5M+7.3%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$6.1M-16.8%	$6.1M-16.8%	$6.1M-16.8%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M+12.1%
Total Liabilities	$39.7M-27.9%	$29.4M-43.4%	$43.2M-15.1%	$55.9M+5.2%	$55.0M+8.7%	$52.0M+12.3%	$50.9M+23.3%	$53.2M+42.4%
Current Liabilities	$30.0M-2.1%	$18.8M-36.5%	$29.5M+3.2%	$35.5M+5.4%	$30.6M+8.1%	$29.6M+4.0%	$28.6M+24.3%	$33.7M+53.6%
Non-Current Liabilities	$9.7M-60.3%	$10.6M-52.5%	$13.7M-38.5%	$20.4M+4.9%	$24.4M+9.5%	$22.4M+25.6%	$22.3M+22.0%	$19.5M+26.5%
Long-Term Debt	$7.3M-67.3%	$8.1M-63.5%	$11.0M-50.0%	$17.4M-9.1%	$22.3M+2.3%	$22.2M+31.7%	$22.0M+28.4%	$19.1M+33.3%
Total Equity	$40.0M-17.5%	$48.6M+10.8%	$51.0M+18.6%	$50.4M+10.2%	$48.5M+7.8%	$43.9M-8.0%	$43.0M-16.3%	$45.7M-16.4%
Retained Earnings	-$267.0M-4.4%	-$257.6M+0.7%	-$254.5M+1.9%	-$254.5M+0.7%	-$255.9M-1.8%	-$259.4M-4.8%	-$259.5M-6.8%	-$256.3M-7.4%

XTNT Cash Flow Statement

XTNT quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$570K	$12.5M+205.5%	-$11.9M-25.0%	-$9.5M-78.2%	-$5.3M-1316.6%	$439K+160.1%	-$731K-77.0%	-$413K-134.1%	$1.2M+323.2%	-$543K+96.2%	-$14.4M-58.3%	-$9.1M-24.2%	-$7.3M-49.7%	-$4.9M+54.7%	-$10.8M-46.6%	-$7.4M
Depreciation & Amortization	N/A	$5.2M+23.7%	$4.2M+33.1%	$3.2M+145.7%	$1.3M-3.0%	$1.3M-35.9%	$2.1M-33.9%	$3.1M-52.3%	$6.6M-21.6%	$8.4M+16.1%	$7.2M+48.1%	$4.9M+413.4%	$952K+26.4%	$754K-3.8%	$783K+3.6%	$755K
Stock-Based Compensation	N/A	$2.9M-29.8%	$4.1M+50.3%	$2.7M+11.2%	$2.5M+11.5%	$2.2M+103.8%	$1.1M+110.5%	$515K-25.8%	$694K+227.4%	$212K-59.5%	$523K-37.5%	$837K-10.5%	$935K+11.5%	$839K-46.0%	$1.6M-39.2%	$2.6M
Capital Expenditures	$1.3M	$2.4M-42.1%	$4.1M+182.5%	$1.5M-17.5%	$1.8M-16.6%	$2.1M+36.9%	$1.5M+75.8%	$879K+40.9%	$624K-62.0%	$1.6M-71.9%	$5.8M+157.7%	$2.3M+654.4%	$300K-51.9%	$623K-65.9%	$1.8M+89.7%	$962K
Free Cash Flow	-$696K	$10.2M+163.5%	-$16.0M-45.9%	-$11.0M-54.4%	-$7.1M-323.9%	-$1.7M+26.4%	-$2.3M-76.2%	-$1.3M-319.7%	$588K+126.9%	-$2.2M+89.2%	-$20.2M-78.1%	-$11.4M-49.0%	-$7.6M-38.2%	-$5.5M+56.3%	-$12.6M-51.6%	-$8.3M
Investing Cash Flow	$14.4M	$7.9M+311.8%	-$3.7M+84.9%	-$24.8M-1489.7%	-$1.6M+17.5%	-$1.9M-44.9%	-$1.3M-139.7%	-$544K-48.2%	-$367K+77.2%	-$1.6M+72.4%	-$5.8M+92.1%	-$73.6M-24559.1%	-$298K+57.0%	-$693K+62.3%	-$1.8M-80.6%	-$1.0M
Financing Cash Flow	-$12.0M	-$9.6M-159.5%	$16.1M-18.4%	$19.7M+118.3%	$9.0M-48.4%	$17.5M+2132.2%	-$861K-42.8%	-$603K-119.5%	$3.1M+27.5%	$2.4M-85.2%	$16.4M-80.6%	$84.6M+835.1%	$9.0M+144.1%	$3.7M-77.9%	$16.8M+90.9%	$8.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$7.3M-672.7%	-$2.1M-265.4%	$5.4M+709.0%	$4.6M+368.5%	$1.3M+125.1%	$1.3M+122.2%	$665K+172.7%	-$1.7M+55.2%
Depreciation & Amortization	$500K-61.5%	$534K-50.3%	$1.8M+58.4%	$1.1M0.0%	$1.3M+30.0%	$1.1M+6.9%	$1.1M+12.9%	$1.1M+22.2%
Stock-Based Compensation	N/A	$746K-1.6%	N/A	$600K-45.5%	$800K-33.3%	$758K-16.7%	N/A	$1.1M
Capital Expenditures	$247K-32.5%	$194K-83.7%	$395K-41.2%	$430K-79.6%	$366K-35.1%	$1.2M+54.1%	$672K+85.1%	$2.1M+843.5%
Free Cash Flow	-$7.6M-930.2%	-$2.3M-2752.9%	$5.0M+71314.3%	$4.2M+209.4%	$910K+116.1%	$87K+101.3%	-$7K+99.5%	-$3.8M+5.8%
Investing Cash Flow	-$5.2M-1537.5%	$10.2M+994.1%	$4.7M+925.4%	$4.7M+332.9%	-$317K+34.0%	-$1.1M-69.6%	-$567K+75.5%	-$2.0M+56.9%
Financing Cash Flow	$10.6M+1494.9%	-$13.3M-1344.5%	-$3.5M-314.8%	-$5.8M-208.6%	$662K-89.7%	-$919K-117.7%	-$854K-362.8%	$5.3M-58.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

XTNT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

XTNT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	62.9%+4.7pp	58.2%-2.6pp	60.8%+5.3pp	55.4%-3.3pp	58.8%-5.7pp	64.5%-1.2pp	65.7%+5.5pp	60.2%-0.4pp	60.7%-8.6pp	69.2%+3.4pp	65.9%+2.7pp	63.1%+6.0pp	57.1%-11.5pp	68.7%-1.1pp	69.8%
Operating Margin	5.4%+15.7pp	-10.3%+0.8pp	-11.1%+0.5pp	-11.7%-4.7pp	-7.0%-5.6pp	-1.4%+2.1pp	-3.5%+79.7pp	-83.2%-37.4pp	-45.8%-37.4pp	-8.4%+12.0pp	-20.3%-2.6pp	-17.7%+9.5pp	-27.2%-12.2pp	-15.0%+6.4pp	-21.4%
Net Margin	0.0%0.0pp	0.0%0.0pp	0.0%+14.6pp	-14.6%-5.9pp	-8.8%+4.4pp	-13.2%-0.5pp	-12.7%+84.4pp	-97.1%-33.7pp	-63.4%-41.8pp	-21.7%-18.0pp	-3.7%+26.1pp	-29.7%+8.6pp	-38.4%-15.0pp	-23.4%-13.4pp	-10.0%
Return on Equity	0.0%+0.1pp	0.0%0.0pp	0.0%+24.8pp	-24.8%-9.1pp	-15.7%+32.7pp	-48.4%	N/A	N/A	N/A	N/A	-24.5%	N/A	N/A	-182.3%-127.6pp	-54.6%
Return on Assets	0.0%0.0pp	0.0%0.0pp	0.0%+14.1pp	-14.1%-5.2pp	-8.9%+8.1pp	-16.9%+2.1pp	-19.1%+132.0pp	-151.0%-101.4pp	-49.6%-36.1pp	-13.5%-12.0pp	-1.5%+36.0pp	-37.6%+6.4pp	-44.0%-21.6pp	-22.4%-9.4pp	-13.0%
Current Ratio	2.65+0.3x	2.35-0.5x	2.82-0.4x	3.24-0.8x	4.00+2.8x	1.22-2.2x	3.43+0.6x	2.88+1.3x	1.540.0x	1.57-0.5x	2.10-0.2x	2.25+0.3x	1.99-1.0x	2.94+1.4x	1.52
Debt-to-Equity	0.22-0.3x	0.51+0.2x	0.33+0.1x	0.28-0.1x	0.38-1.5x	1.86	N/A	N/A	N/A	N/A	4.98	N/A	N/A	3.42+2.2x	1.21
Asset Turnover	1.42+0.2x	1.25+0.3x	0.990.0x	0.960.0x	1.01-0.3x	1.29-0.2x	1.50-0.1x	1.56+0.8x	0.78+0.2x	0.62+0.2x	0.42-0.8x	1.26+0.1x	1.15+0.2x	0.96-0.3x	1.30
FCF Margin	7.6%+21.2pp	-13.7%-1.6pp	-12.0%+0.2pp	-12.3%-9.2pp	-3.0%+1.2pp	-4.3%-2.3pp	-2.0%-2.8pp	0.8%+3.5pp	-2.6%+19.8pp	-22.5%-3.3pp	-19.1%+2.4pp	-21.6%-4.9pp	-16.7%+21.6pp	-38.3%-10.6pp	-27.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	57.9%-10.7pp	57.3%-4.2pp	54.9%+4.0pp	66.1%+7.8pp	68.6%+6.5pp	61.5%-0.6pp	50.8%-10.1pp	58.4%-2.9pp
Operating Margin	-39.8%-52.9pp	-14.0%-17.2pp	-2.9%+3.1pp	7.6%+21.2pp	13.1%+22.9pp	3.2%+15.7pp	-6.0%+7.6pp	-13.5%0.0pp
Net Margin	-40.9%-50.9pp	-14.8%-15.0pp	-15.2%-57.3pp	3.9%+21.9pp	10.0%+22.9pp	0.2%+16.0pp	42.1%+59.7pp	-18.0%-54.9pp
Return on Equity	-23.5%-30.8pp	-6.4%-6.5pp	-9.6%-40.5pp	2.6%+13.6pp	7.3%+15.9pp	0.1%+9.4pp	30.9%+40.5pp	-11.0%-27.9pp
Return on Assets	-11.8%-15.3pp	-4.0%-4.0pp	-5.2%-19.4pp	1.2%+6.3pp	3.4%+7.5pp	0.1%+4.7pp	14.1%+19.5pp	-5.1%-15.1pp
Current Ratio	2.16-0.3x	3.34+1.0x	2.65+0.3x	2.21+0.1x	2.470.0x	2.340.0x	2.35-0.5x	2.12-0.8x
Debt-to-Equity	0.18-0.3x	0.17-0.3x	0.22-0.3x	0.35-0.1x	0.460.0x	0.51+0.2x	0.51+0.2x	0.42+0.2x
Asset Turnover	0.29-0.1x	0.27-0.1x	0.340.0x	0.310.0x	0.340.0x	0.340.0x	0.340.0x	0.280.0x
FCF Margin	-32.8%-35.4pp	-11.1%-11.3pp	15.4%+15.4pp	12.6%+26.3pp	2.6%+21.4pp	0.3%+23.7pp	0.0%+4.5pp	-13.7%+2.5pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Xtant Medical Holdings, Inc. XTNT	FY2025	$133.9M	$5K	0.0%	$45.7M	60/100
Apyx Medical Corporation APYX	FY2025	$52.8M	-$11.2M	-21.2%	$109.1M	43/100
TELA Bio, Inc. TELA	FY2025	$80.3M	-$38.8M	-48.3%	$50.1M	46/100
InspireMD, Inc. NSPR	FY2025	$9.0M	-$48.8M	N/A	$24.4M	49/100
Baird Medical Investment Holdings Ltd BDMD	FY2025	$22.5M	-$27.3M	N/A	$24.7M	26/100
Pulmonx Corporation LUNG	FY2025	$90.5M	-$54.0M	-59.7%	$79.0M	54/100

Where Xtant Medical Holdings, Inc. Ranks

Frequently Asked Questions

What is Xtant Medical Holdings, Inc.'s annual revenue?

Xtant Medical Holdings, Inc. (XTNT) reported $133.9M in total revenue for fiscal year 2025. This represents a 14.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Xtant Medical Holdings, Inc.'s revenue growing?

Xtant Medical Holdings, Inc. (XTNT) revenue grew by 14.2% year-over-year, from $117.3M to $133.9M in fiscal year 2025.

Is Xtant Medical Holdings, Inc. profitable?

Yes, Xtant Medical Holdings, Inc. (XTNT) reported a net income of $5K in fiscal year 2025, with a net profit margin of 0.0%.

What is Xtant Medical Holdings, Inc.'s EBITDA?

Xtant Medical Holdings, Inc. (XTNT) had EBITDA of $12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Xtant Medical Holdings, Inc. have?

As of fiscal year 2025, Xtant Medical Holdings, Inc. (XTNT) had $17.1M in cash and equivalents against $11.0M in long-term debt.

What is Xtant Medical Holdings, Inc.'s gross margin?

Xtant Medical Holdings, Inc. (XTNT) had a gross margin of 62.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Xtant Medical Holdings, Inc.'s operating margin?

Xtant Medical Holdings, Inc. (XTNT) had an operating margin of 5.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Xtant Medical Holdings, Inc.'s net profit margin?

Xtant Medical Holdings, Inc. (XTNT) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Xtant Medical Holdings, Inc.'s return on equity (ROE)?

Xtant Medical Holdings, Inc. (XTNT) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Xtant Medical Holdings, Inc.'s free cash flow?

Xtant Medical Holdings, Inc. (XTNT) generated $10.2M in free cash flow during fiscal year 2025. This represents a 163.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Xtant Medical Holdings, Inc.'s operating cash flow?

Xtant Medical Holdings, Inc. (XTNT) generated $12.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Xtant Medical Holdings, Inc.'s total assets?

Xtant Medical Holdings, Inc. (XTNT) had $94.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Xtant Medical Holdings, Inc.'s capital expenditures?

Xtant Medical Holdings, Inc. (XTNT) invested $2.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Xtant Medical Holdings, Inc. spend on research and development?

Xtant Medical Holdings, Inc. (XTNT) invested $2.1M in research and development during fiscal year 2025.

How many shares does Xtant Medical Holdings, Inc. have outstanding?

Xtant Medical Holdings, Inc. (XTNT) had 140M shares outstanding as of fiscal year 2025.

What is Xtant Medical Holdings, Inc.'s current ratio?

Xtant Medical Holdings, Inc. (XTNT) had a current ratio of 2.65 as of fiscal year 2025, which is generally considered healthy.

What is Xtant Medical Holdings, Inc.'s debt-to-equity ratio?

Xtant Medical Holdings, Inc. (XTNT) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xtant Medical Holdings, Inc.'s return on assets (ROA)?

Xtant Medical Holdings, Inc. (XTNT) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Xtant Medical Holdings, Inc.'s P/E ratio?

Xtant Medical Holdings, Inc. (XTNT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $45.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Xtant Medical Holdings, Inc.'s price-to-sales ratio?

Xtant Medical Holdings, Inc. (XTNT) trades at 0.4x sales, its market capitalization divided by revenue of $109.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $45.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Xtant Medical Holdings, Inc.'s Altman Z-Score?

Xtant Medical Holdings, Inc. (XTNT) has an Altman Z-Score of -0.85, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Xtant Medical Holdings, Inc.'s Piotroski F-Score?

Xtant Medical Holdings, Inc. (XTNT) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Xtant Medical Holdings, Inc.'s earnings high quality?

Xtant Medical Holdings, Inc. (XTNT) reported $5K of net income while generating $12.5M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Xtant Medical Holdings, Inc. cover its interest payments?

Xtant Medical Holdings, Inc. (XTNT) has an interest coverage ratio of 1.98x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Xtant Medical Holdings, Inc.?

Xtant Medical Holdings, Inc. (XTNT) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.