Xtant Medical Reports 3Q16 Revenue
Xtant Medical (XTNT) posted 3Q16 revenue of US $23.1MM, +10.5% vs. 3Q15, as reported.
ORTHOWORLD estimates 3Q16 segment revenue and as-reported growth as follows.
- Spine $12.3MM, +9.4%
- Orthobiologics $10.8MM, +11.8%
- Sequentially, 3Q16 revenue increased +7.6% from 2Q16
- Supply chain issues that lingered in 1H16 are now permanently resolved
- Revenue from newer products contributed ~$0.6MM to 3Q, comprising 2.5% of revenue overall
- Remains at 350+ field sales asset headcount and plans to stay at this number through 1H17
- Portfolio product revenue (a combination of Bacterin and X-spine products) at 7.4% of sales (goal is 10%)
- First implant of Xspan laminoplasty completed in 4Q
- New CPT Code 27279 brings reimbursement for Silex product family for treatment of sacroiliac joint disorders
Sources: Xtant Medical, Inc.; ORTHOWORLD Inc.