Xtant Medical reported a revenue increase during the third quarter of 2015.
Here are five key notes:
1. The company reported revenue great 6.5 percent over the same period last year to hit $20.9 million. The company generated around $245,000 of original equipment manufacturer sales from a large orthopedic device manufacturer.
2. The company's revenue from service lines include:
• Biologics: 15.5 percent growth to $9.7 million
• Fixation (excluding OEM): 12.3 percent growth to $10.3 million
• OEM: 6.1 percent decline to $745,000.
3. The company reported gross profit at around $13.7 million, which was 65.5 percent of revenue compared to $13.2 million or 67.3 percent of revenue for the same period last year.
4. The net loss for the third quarter was $5.4 million for the third quarter and $16.1 million for the nine months end. The third quarter 2015 EBITDA loss was around $915,000.
5. The company expects 2015 revenue to reach $43 million to $46 million for the second half of the year.