Xtant Medical reported first quarter 2017 revenue of $22.1 million.
Here are 10 takeaways:
1. The company's revenue increased 5.3 percent in the first quarter of 2017 compared to the same period in 2016.
2. Xtant's biologics product lines boosted the revenue.
3. Xtant's consolidated gross profit grew 10.1 percent to $15.5 million in the first quarter of 2017, compared to $14.1 million in the first quarter of 2016.
4. Consolidated gross margins grew to 70.3 percent, up from 67.2 percent in the first quarter of 2016.
5. Xtant noted an EBITDA gain of about $577,000 for the first quarter of 2017.
6. The company's consolidated sales and marketing expenses for the first quarter of 2017 increased to $11 million, up from the first quarter of 2016.
7. The first quarter of 2017 saw $4.1 million in consolidated general and administrative expenses.
8. Xtant reported a net loss of $5.2 million for the first quarter of 2017 compared to $5.6 million in the same period of 2016.
9. The company had $2.5 million of cash on hand, as of March 31.
10. Xtant withdrew its previous 2017 financial guidance, due to review of its capital structure. It will release an update once the new guidance is finalized.