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Product / Company Performance

Xtant Reports 1Q19 Revenue of $16.7MM, -7% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

 

Xtant reports 1Q19 revenue of USD $16.7MM, -7% vs. 1Q18.

  • Added 12 new distributors over the last four months
  • Declining revenues attributable to continued struggles with spinal hardware sales
  • Focused on cutting costs to generate sufficient cash to fund operations

 

ORTHOWORLD estimates segment sales and growth on an as-reported basis ($MM):

  1Q19 1Q18 $ Chg % Chg
Spine $5.7 $6.5 -$0.8 -12.1%
Orthobiologics $11.0 $11.5 -$0.5 -4.1%
Total $16.7 $17.9 -$1.2 -7.0%

ORTHOWORLD estimates revenue by geographic region ($MM):

Geographic Region 1Q19 1Q18 $ Chg % Chg
US $16.0 $17.2 -$1.2 -6.7%
Ex-US $0.7 $0.8 -$0.1 -12.2%
Total $16.7 $17.9 -$1.2 -7.0%

Net earnings ($MM):

1Q19 Amount % of Sales
Sales $16.7  
   Cost of Sales -$5.9 35.4%
   General and Admin -$4.2 25.1%
   Sales and Marketing -$6.7 40.4%
   R & D -$0.3 1.6%
   Other -$2.4 14.2%
Net Earnings -$2.8 -16.8%

 

Sources: Xtant; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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