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Xtant Medical (XTNT) posted 1Q18 revenue of US $17.9MM, -18.8% vs. 1Q17.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
| 1Q18 | 1Q17 | $ Change | % Change | |
| Spine | $6.5 | $11.7 | -$5.2 | -44.8% |
| Orthobiologics | $11.5 | $10.4 | $1.1 | 10.6% |
| Total | $17.9 | $22.1 | -$4.1 | -18.8% |
Revenue decline was attributed to changes in sales channels, abandonment of certain reseller and high commission distributors and competition and reimbursement pressures in spinal fixation products.
Biologics, on the other hand, is expected to perform well throughout 2018 due to increased performance management among top distributors and increased U.S. account penetration into Integrated Delivery Network accounts. The company will focus on its OsteoSponge, OsteoSelect and 3DM fiber technologies.
Further, it has implemented a company-wide high-performance management system to improve asset and inventory management, thus freeing up cash. The goal is to reduce non-productive inventory and instruments in the field, and also optimize future inventory fulfillment without affecting customer experience.
XTNT intends to focus on ex-U.S. opportunities, and has signed an agreement with Healthcare International Partners to drive revenue in Latin America.
Finally, in the quarter, XTNT entered into a restructuring agreement and elected an entirely new Board of Directors.
Sources: Xtant Medical; ORTHOWORLD estimates
Xtant Medical (XTNT) posted 1Q18 revenue of US $17.9MM, -18.8% vs. 1Q17.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
Q18
1Q17
$ Change
% Change
Spine
$6.5
$11.7 ...
Xtant Medical (XTNT) posted 1Q18 revenue of US $17.9MM, -18.8% vs. 1Q17.
ORTHOWORLD estimates segment revenue and as-reported growth as follows.
| 1Q18 | 1Q17 | $ Change | % Change | |
| Spine | $6.5 | $11.7 | -$5.2 | -44.8% |
| Orthobiologics | $11.5 | $10.4 | $1.1 | 10.6% |
| Total | $17.9 | $22.1 | -$4.1 | -18.8% |
Revenue decline was attributed to changes in sales channels, abandonment of certain reseller and high commission distributors and competition and reimbursement pressures in spinal fixation products.
Biologics, on the other hand, is expected to perform well throughout 2018 due to increased performance management among top distributors and increased U.S. account penetration into Integrated Delivery Network accounts. The company will focus on its OsteoSponge, OsteoSelect and 3DM fiber technologies.
Further, it has implemented a company-wide high-performance management system to improve asset and inventory management, thus freeing up cash. The goal is to reduce non-productive inventory and instruments in the field, and also optimize future inventory fulfillment without affecting customer experience.
XTNT intends to focus on ex-U.S. opportunities, and has signed an agreement with Healthcare International Partners to drive revenue in Latin America.
Finally, in the quarter, XTNT entered into a restructuring agreement and elected an entirely new Board of Directors.
Sources: Xtant Medical; ORTHOWORLD estimates
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
