Xtant Medical (XTNT)
Supplies orthobiologics, spine implants, and U.S. surgical-hemostasis products.
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Supplies orthobiologics, spinal fixation and interbody implants, and U.S.-distributed surgical-hemostasis products to clinical customers. Sales run largely through independent U.S. agents, while human-tissue supply, procedure reimbursement, FDA requirements, and third-party manufacturing shape the business.
Develops orthobiologics, spinal implants, and surgical-hemostasis products for spine surgeons, neurosurgeons, hospitals, and distributors. Its orthobiologics range includes demineralized bone-matrix allografts, synthetic bone-graft substitutes, cortical-fiber allografts, and amniotic membranes; continuing hardware includes cervical plates, fixation systems, interbodies, and fusion products. HEMOBLAST Bellows broadens the offering through exclusive U.S. distribution.
Generates product revenue from orthobiologics and spinal implants, net of returns, discounts, and rebates, and uses a U.S. network of more than 670 independent commissioned and stocking agents, supported by direct employees. The business relies on human tissue and recovery-agency agreements, reimbursement for procedures, regulatory compliance, and some sole-source suppliers. Dilon manufactures HEMOBLAST in France and retains manufacturing and regulatory responsibility.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Loop Capital Markets | Target | Target: — | Target: $1 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $9.9M · Total debt $26.0M · Total assets $79.7M · Shareholders' equity $40.0M
- Revenue
- $23.0M
- Operating income
- −$9.2M
- Net income
- −$9.4M
No dividends on record.
| Institutions | 57.21% | 80.25M shares | |
|---|---|---|---|
| 32 holders · as of Jun 30, 2026 | |||
| Insiders | 16.81% | 23.59M shares | |
| 9 holders · as of Aug 18, 2026 | |||
| Other | 25.98% | 36.45M shares | |
| remainder | |||
140.29M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Nantahala Capital Management, LLCInstitution | 48.75% | 68.39M | as of Jun 30, 2026 |
Stavros G. VizirgianakisInsiderdirector | 5.59% | 7.84M | filed Aug 18, 2026 |
Laurence W. LyttonInsider | 5.49% | 7.70M | filed Feb 17, 2026 |
Awm Investment Company, Inc.Institution | 4.26% | 5.98M | as of Jun 30, 2026 |
Sean E. BrowneInsiderdirector, officer: President and CEO | 2.22% | 3.11M | filed Aug 18, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Medtronic
Broad spine systems and bone-graft competition.
- Globus Medical
Comprehensive spine, biomaterials, and hospital-channel overlap.
- Johnson & Johnson
DePuy Synthes implants and biomaterials contest fusion cases.
- Orthofix Medical
Spinal fixation, interbodies, and biologics overlap.
- Alphatec
Pure-play spine systems and allograft biologics overlap.
- Bioventus
Bone-graft substitutes and spine procedural tools overlap.
- SI-BONE
Focused sacroiliac-joint fusion competition.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Xtant Medical | $0.3671 | +8.93% | $47.3M | — | — | 0.4 | −35.0% |
| Medtronic | $91.30 | −0.49% | $117.44B | 22.6 | 15.2 | 3.1 | +13.7% |
| Globus Medical | $75.33 | +1.40% | $10.02B | 19.1 | 14.7 | 3.2 | +5.9% |
| Johnson & Johnson | $268.36 | −0.41% | $649.40B | 31.2 | 22.6 | 6.6 | +6.6% |
| Orthofix Medical | $9.07 | +1.28% | $361.8M | — | — | 0.4 | +5.1% |
| Alphatec | $10.42 | +2.46% | $1.56B | — | 20.7 | 1.9 | +15.1% |
| Bioventus | $13.63 | +2.40% | $901.7M | 17.3 | 17.1 | 1.5 | +3.8% |
| SI-BONE | $18.82 | +2.01% | $818.2M | — | — | 3.8 | +15.2% |
| Median | 20.8 | 17.1 | 3.1 | +6.6% |