In a challenging market environment, XTNT, also known as Bacterin International, has seen its stock price touch a 52-week low, reaching a price level of just $0.42. This downturn reflects a significant decline over the past year, with the company's stock experiencing a 1-year change of -64.08%. Investors have been closely monitoring XTNT as it navigates through a period marked by volatility and uncertainty, which has taken a toll on the stock's performance. The current price level presents a critical juncture for the company as it looks to regain its footing and reassure shareholders of its long-term potential.
In other recent news, Xtant Medical Holdings (NYSE:XTNT), Inc. reported a 12% increase in revenue for the third quarter of 2024, reaching $27.9 million, primarily driven by the sales from the recently acquired Surgalign hardware and biologics business. Despite a net loss of $5 million for the quarter, the company is sticking to its full-year revenue guidance at $116 to $120 million, indicating a 27% to 31% increase over the previous year. In addition to these developments, Xtant Medical (TASE:PMCN) signed a licensing agreement in October, which is expected to bring in at least $5 million in royalties, with $1.5 million received upfront. The company is also aiming for positive adjusted EBITDA by Q4 2024 and break-even cash flow by Q2 2025. However, it's worth noting that the company experienced a decrease in gross margin to 58.4% from 61.3% year over year, primarily due to delays in launching new products. Despite this, Xtant remains optimistic about the growth in the stem cell market and the potential of the Cortera system, as indicated in recent developments.
InvestingPro Insights
The recent downturn in XTNT's stock price is further illuminated by real-time data from InvestingPro. The company's market capitalization currently stands at $59.41 million, reflecting the significant decline in investor valuation. This aligns with the stock's poor performance, as evidenced by a 21.61% drop in the past month and a staggering 61.77% year-to-date price total return.
InvestingPro Tips highlight that XTNT is "quickly burning through cash" and "not profitable over the last twelve months," which may explain the stock's current struggles. The company's financial health is further strained, as indicated by its negative operating income of $14 million and an EBITDA of -$9.9 million for the last twelve months as of Q3 2024.
Despite these challenges, XTNT has shown strong revenue growth of 45.11% over the same period, with total revenue reaching $113.86 million. This growth, coupled with a healthy gross profit margin of 60.89%, suggests that the company's core business still has potential.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide valuable insights into XTNT's future prospects and current market position.
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