Xtant Medical reported its financial results for the second quarter of 2016, ended June 30th.
Here are 8 key notes:
1. The company's second quarter revenue was approximately $21.5 million, down slightly from pro forma revenue of around $21.6 million for the same period during 2015.
2. Consolidated net loss remained flat at $4.5 million in the second quarter of 2016.
3. Gross profit for the second quarter of 2016 was $14.7 million or 68.5 percent of revenue. During the second quarter of 2015, pro forma gross profit totaled $14 million or 64.9 percent of revenue.
4. Second quarter sales and marketing expenses increased to $10.4 million, up from $9.3 million during the same period last year.
5. General and administrative expenses decreased slightly from $4 million in the second quarter of 2015 to $3.9 million in the current quarter.
6. Core recurring revenue, which does not include revenue associated with original equipment manufacturer customers and other revenue, increased 5.6 percent to $20.9 million.
7. Xtant Medical's consolidated EBITDA for the second quarter of 2016 was a gain of $332,973, compared to an EBITDA loss of $144,749 for the first quarter of 2016.
8. The company estimates full-year 2016 revenue to fall between $87 million and $90 million.