Cofix | Jotup

Xtant Medical Announces Record Full Year 2023 Revenue of $91.3 Million

Retrieved on:

Monday, April 1, 2024

Super Meat Boy, Growth, Webcast, Cofix, Acquisition, Depreciation, Video game

BELGRADE, Mont., April 01, 2024 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today reported financial and operating results for the fourth quarter and year ended December 31, 2023.

Key Points:

Full year 2023 revenue grew 58% to $91.3 million, compared to $58.0 million for 2022.
Operating expenses for the fourth quarter of 2023 totaled $20.9 million, compared to $10.0 million for the fourth quarter of 2022, and were $65.6 million for the full year 2023 compared to $38.9 million for the full year 2022.
Non-GAAP adjusted EBITDA for 2023 totaled $1.0 million, compared to a loss of $3.0 million for 2022.
Xtant Medical expects full year 2024 revenue of $112 million to $116 million.

Xtant Medical Announces Record Third Quarter Revenue of $25 Million

Retrieved on:

Thursday, November 9, 2023

Adjustment, Cofix, NYSE, Acquisition, National Center for Spinal Disorders, Webcast, Depreciation, Patient, Super Meat Boy, Pharmaceutical industry, Cryptocurrency

“Driven by strong organic growth of 18%, and contributions from our recent acquisitions, we achieved record third quarter revenue of $25 million, an increase of 73% year-over-year, and raised our 2023 revenue guidance range for the second consecutive quarter,” said Sean Browne, President and CEO of Xtant Medical.

Key Points:

“Driven by strong organic growth of 18%, and contributions from our recent acquisitions, we achieved record third quarter revenue of $25 million, an increase of 73% year-over-year, and raised our 2023 revenue guidance range for the second consecutive quarter,” said Sean Browne, President and CEO of Xtant Medical.
Operating expenses for the third quarter of 2023 totaled $18.7 million, compared to $9.8 million for the third quarter of 2022.
Third quarter 2023 net income totaled $9.2 million, or $0.07 per share, compared to the third quarter 2022 net loss of $2.4 million, or $0.03 per share.
Xtant Medical raises its expectation for full year 2023 revenue to $88 million to $91 million, up from the Company’s prior guidance of $75 million to $77 million.

Xtant Medical Highlights Growing Product Portfolio at NASS 2023

Retrieved on:

Thursday, October 12, 2023

Annual general meeting, NYSE, North American Spine Society, NASS, Cofix, Scoliosis and Spinal Disorders, Los Angeles Convention Center, Physician, Pharmaceutical industry

BELGRADE, Mont., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced it will exhibit its suite of orthobiologics and spinal fixation products at the North American Spine Society (NASS) 2023 Annual Meeting, which will be held October 18-21 at the Los Angeles Convention Center in Los Angeles, CA.

Key Points:

BELGRADE, Mont., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced it will exhibit its suite of orthobiologics and spinal fixation products at the North American Spine Society (NASS) 2023 Annual Meeting, which will be held October 18-21 at the Los Angeles Convention Center in Los Angeles, CA.
“In recent years, we have dramatically expanded our product portfolio, most notably with the introductions of the highly popular OsteoFactor and OsteoVive Plus products and the newly added Coflex and CoFix products,” said Sean Browne, Chief Executive Officer of Xtant Medical.
“Spinal surgeons and physicians recognize the critical patient benefits from our complementary biologics and fixation product offerings.
We are proud that Xtant remains at the forefront of innovative spinal solutions, and look forward to showcasing our deep portfolio at NASS.”

Xtant Medical Announces Second Quarter Revenue Growth of 32%

Retrieved on:

Tuesday, August 1, 2023

National Center for Spinal Disorders, Super Meat Boy, EBITDA, Acquisition, Webcast, Depreciation, Growth, Adjustment, NYSE, Cofix, Video game, Cryptocurrency

BELGRADE, Mont., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today reported financial and operating results for the second quarter ended June 30, 2023.

Key Points:

“In the second quarter, we achieved strong revenue growth on both a sequential and annual basis driven by our core biologics and fixation businesses,” said Sean Browne, President & CEO of Xtant Medical.
Operating expenses for the second quarter of 2023 totaled $13.9 million, compared to $9.7 million for the second quarter of 2022.
Second quarter 2023 net loss totaled $2.2 million, or $0.02 per share, compared to the second quarter 2022 net loss of $1.7 million, or $0.02 per share.
Xtant Medical will host a webcast and conference call to discuss the second quarter 2023 financial results on Tuesday, August 1, 2023 at 9:00 AM ET.

SWK Holdings Highlights Recent Achievements and Provides Portfolio Update

Retrieved on:

Monday, July 17, 2023

We view repurchasing shares at the current discount to book as a highly accretive use of capital that benefits shareholders."

Key Points:

We view repurchasing shares at the current discount to book as a highly accretive use of capital that benefits shareholders."
SWK has received $1.5mm of proceeds from the sale and anticipates receiving approximately $0.5 million in additional proceeds from the estate.
SWK will provide an update on the Flowonix finance receivable in our second quarter earnings release.
Signed a partnership with LeMaitre Vascular to distribute Aziyo's cardiovascular repair portfolio within the U.S., increasing sales representative coverage five-fold.

Surgalign Announces First Quarter 2023 Results and Provides Update on its Business Operations

Retrieved on:

Thursday, May 11, 2023

Two new sites added in May 2023 for HOLO Portal; onboarding underway with cases to be scheduled.

Key Points:

Two new sites added in May 2023 for HOLO Portal; onboarding underway with cases to be scheduled.
HOLO Portal expansion into Texas; first case performed by Dr. Ripul Panchal, DO of Medical City Frisco, part of HCA Healthcare.
Net income from continuing operations for the three months ended March 31, 2023 was $4.1 million.
As of March 31, 2023, cash and cash equivalents were approximately $22.4 million, as compared to $16.3 million reported as of December 31, 2022.

Xtant Medical Announces First Quarter 2023 Revenue Growth of 38% and Full Year 2023 Revenue Guidance

Retrieved on:

Thursday, May 4, 2023

Webcast, Depreciation, Growth, Super Meat Boy, Adjustment, Acquisition, National Center for Spinal Disorders, NYSE, Pharmaceutical industry, Cofix

BELGRADE, Mont., May 04, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today reported financial and operating results for the first quarter ended March 31, 2023. The Company also introduced financial guidance for the full year 2023.

Key Points:

“Highlighted by solid revenue growth and the Coflex® acquisition, we are off to a strong start in 2023,” said Sean Browne, President & CEO of Xtant Medical.
Operating expenses for the first quarter of 2023 totaled $12.1 million, compared to $9.4 million for the first quarter of 2022.
Xtant Medical expects full year 2023 revenue of $73 million to $75 million, representing annual growth of approximately 26% to 29% compared to full year 2022.
Xtant Medical will host a webcast and conference call to discuss the first quarter 2023 financial results on Thursday, May 4, 2023 at 9:00 AM ET.

Surgalign Holdings, Inc. Announces Fourth Quarter and Full Year 2022 Results

Retrieved on:

Thursday, March 30, 2023

Total revenue for the three months ended December 31, 2022, was $20.6 million as compared to $21.8 million in the comparable year-ago period.

Key Points:

Total revenue for the three months ended December 31, 2022, was $20.6 million as compared to $21.8 million in the comparable year-ago period.
On a sequential basis when compared to the 2022 third quarter ended September 30, 2022, total revenue increased $0.4 million.
This compares to non-GAAP gross margin of 74.9% reported in the 2022 third quarter, with the change primarily due to product mix shift.
On a sequential basis when compared to the 2022 third quarter, total adjusted operating expenses declined by $1.9 million.

Surgalign Provides Update on Corporate Restructuring Initiatives and Confirms its Prior 2022 Revenue Guidance

Retrieved on:

Monday, March 6, 2023

Growth, Workforce, Resolve, Sale, OEM, Rationalization, Investment, Cofix, ROI, Digital health, Renewable energy, Pharmaceutical industry, Cryptocurrency

Surgalign targeted products with declining revenue and more limited growth prospects based on investments, as well as low and negative ROI profiles.

Key Points:

Surgalign targeted products with declining revenue and more limited growth prospects based on investments, as well as low and negative ROI profiles.
In anticipation of its product rationalization and the resulting downsizing of its offering, Surgalign announced in November 2022, plans to reduce its workforce.
Terry Rich, President and CEO of Surgalign commented, “We continue to successfully execute our restructuring initiatives and remain on track to achieve our target savings in 2023.
The Company estimates it will report full year 2022 revenue of approximately $82.0 million and end the year with approximately $16.3 million in cash.

Xtant Medical Acquires Coflex® Product Line from Surgalign for $17 Million

Retrieved on:

Wednesday, March 1, 2023

BELGRADE, Mont. and DEERFIELD, Ill., March 01, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, and Surgalign Holdings, Inc., (NASDAQ: SRGA), a global medical technology company focused on elevating the standard of care by driving the evolution of digital surgery, today announced the completion of a transaction between the companies.

Key Points:

On February 28, 2023, Xtant Medical and Surgalign entered into a Definitive Agreement and subsequently closed on the transaction whereby Xtant acquired the Coflex® and Cofix product lines from Surgalign for a total consideration of $17 million.
Cofix is a supplemental fixation device, which is a minimally invasive system intended for use on all levels of the lumbar spine.
“We are thrilled to acquire the Coflex and Cofix product lines, which will help accelerate our top-line growth and position Xtant to achieve critical mass,” said Sean Browne, President and CEO of Xtant Medical.
“Coupled with our less invasive Axle interspinous device and Silex SI Fusion product lines, Coflex augments our offering in the fast-growing segments of ASC and outpatient procedures.