Xtant Medical Reports 2Q16 Revenue
Xtant Medical (XTNT) posted 2Q16 revenue of US $21.5MM, -0.7% vs. 2Q15 as reported.
ORTHOWORLD estimates 2Q16 segment revenue and as-reported growth as follows.
- Spine $11.4MM, -5.3%
- Orthobiologics $10.1MM, +5.0%
While year over year growth declined slightly, 2Q16 revenue increased 2.3% vs. 1Q16.
Within 2Q16, OsteoSelect PLUS DBM Putty logged ~$0.14MM in its first full quarter of sales. Aranax Cervical Plating and the Atrix C Cervical Allograft Interbody Spacer achieved $0.87MM and $0.75MM, respectively, both during pilot launch phases.
Headcount for XTNT's field sales assets is 351. For 2Q16, portfolio sales (selling a combination of Bacterin and X-spine products) reached $1.5MM, 6.6% of total revenue and a 60% increase vs. 1Q16.
Leadership noted that inventory allocation issues from 1Q16 were partially relieved in 2Q16. In early 3Q, XTNT announced expansion of its tissue processing facility in Montana with the addition of seven new processing rooms.
During 2Q, XTNT received FDA 510(k) clearance of a posterior cervical screw indication for Certex® Spinal Fixation and entered into a joint agreement to expand distribution of Pinnacle Spine's InFill® Lateral Lumbar Interbody Fusion system.
Sources: Xtant Medical Holdings, Inc.; ORTHOWORLD Inc.