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Xtant reported 3Q19 revenue of USD $15.7 million, -8.9% vs. 3Q18.
- In October 2019, Xtant selected Sean Browne to be the new President and CEO of the company
- The company is focused on launching new products and reengaging with its distributor network
- Spinal hardware sales declines were driven, in part, by reduced demand stemming from the termination of an advisory agreement as well as the continuing termination of distributors that did not meet internal margin contribution parameters
- To offset hardware sales declines, Xtant recently launched three new products: the Intice-C Titanium cervical interbody spacer, Atrix-C Union cervical interbody spacer, and the Calix-C PC plasma coated PEEK implant
- The company is seeking to improve operational efficiency through upgrading its existing enterprise resource planning platform and expects to complete the first and second phases of the upgrade by 1H20
- Xtant has been granted a planning period through October 4, 2020, to regain compliance and maintain their listing on the New York Stock Exchange
- ORTHOWORLD projects Xtant full year 2019 revenue of $65.4 million, -9.5% vs. 2018
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $5.2 | $5.9 | ($0.7) | (11.6%) |
| Orthobiologics | $10.5 | $11.4 | ($0.9) | (7.6%) |
| Total | $15.7 | $17.3 | ($1.5) | (8.9%) |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $16.1 | $19.1 | ($3.0) | (15.8%) |
| Orthobiologics | $31.6 | $34.9 | ($3.2) | (9.3%) |
| Total | $47.7 | $53.9 | ($6.3) | (11.6%) |
Geographic Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $15.1 | $16.5 | ($1.4) | (8.5%) |
| Ex-US | $0.6 | $0.8 | ($0.1) | (19%) |
| Total | $15.7 | $17.3 | ($1.5) | (8.9%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $15.7 | |
| Cost of Sales | ($5.2) | 33.4% |
| General and Admin | ($4.2) | 26.4% |
| Sales and Marketing | ($6.7) | 42.5% |
| R & D | ($0.2) | 1.3% |
| Other | ($1.3) | 8.3% |
| Net earnings | ($1.9) | (12%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Xtant reported 3Q19 revenue of USD $15.7 million, -8.9% vs. 3Q18.
In October 2019, Xtant selected Sean Browne to be the new President and CEO of the company
The company is focused on launching new products and reengaging with its distributor network
Spinal hardware sales declines were driven, in part, by reduced demand stemming...
Xtant reported 3Q19 revenue of USD $15.7 million, -8.9% vs. 3Q18.
- In October 2019, Xtant selected Sean Browne to be the new President and CEO of the company
- The company is focused on launching new products and reengaging with its distributor network
- Spinal hardware sales declines were driven, in part, by reduced demand stemming from the termination of an advisory agreement as well as the continuing termination of distributors that did not meet internal margin contribution parameters
- To offset hardware sales declines, Xtant recently launched three new products: the Intice-C Titanium cervical interbody spacer, Atrix-C Union cervical interbody spacer, and the Calix-C PC plasma coated PEEK implant
- The company is seeking to improve operational efficiency through upgrading its existing enterprise resource planning platform and expects to complete the first and second phases of the upgrade by 1H20
- Xtant has been granted a planning period through October 4, 2020, to regain compliance and maintain their listing on the New York Stock Exchange
- ORTHOWORLD projects Xtant full year 2019 revenue of $65.4 million, -9.5% vs. 2018
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $5.2 | $5.9 | ($0.7) | (11.6%) |
| Orthobiologics | $10.5 | $11.4 | ($0.9) | (7.6%) |
| Total | $15.7 | $17.3 | ($1.5) | (8.9%) |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $16.1 | $19.1 | ($3.0) | (15.8%) |
| Orthobiologics | $31.6 | $34.9 | ($3.2) | (9.3%) |
| Total | $47.7 | $53.9 | ($6.3) | (11.6%) |
Geographic Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $15.1 | $16.5 | ($1.4) | (8.5%) |
| Ex-US | $0.6 | $0.8 | ($0.1) | (19%) |
| Total | $15.7 | $17.3 | ($1.5) | (8.9%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $15.7 | |
| Cost of Sales | ($5.2) | 33.4% |
| General and Admin | ($4.2) | 26.4% |
| Sales and Marketing | ($6.7) | 42.5% |
| R & D | ($0.2) | 1.3% |
| Other | ($1.3) | 8.3% |
| Net earnings | ($1.9) | (12%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
