Xtant Medical Lifts 2026 Revenue Guidance to $101–$105M, Secures HEMOBLAST Distribution
XTNT•Xtant Medical generated $20.9 million in Q1 revenue, down from $32.9 million due to asset sales and nonrecurring license income, while reducing indebtedness by $13.3 million. The company raised full-year 2026 revenue guidance to $101–$105 million, reflecting additional sales of Dilon’s HEMOBLAST® Bellows and product launches.
1. First Quarter Financial Results
Xtant Medical reported $20.9 million in revenue for Q1 2026, a 36% decrease from $32.9 million in Q1 2025 due to the December asset sale and lost license income. Gross margin fell to 57.3% from 61.5%, operating expenses were $14.9 million versus $19.2 million a year ago, and net loss was $3.1 million compared with net income of $58,000.
2. Debt Reduction and Cash Position
The company reduced total indebtedness by $13.3 million in Q1, including $10.4 million on its revolving credit facility and $2.8 million on its term loan. As of March 31, cash and equivalents stood at $12.2 million and availability under the revolving facility rose to $11.8 million.
3. Revised 2026 Guidance
Xtant increased full-year 2026 revenue guidance to $101–$105 million, up from $95–$99 million previously, to account for anticipated sales of the newly licensed HEMOBLAST® Bellows hemostatic product.
4. Strategic Agreements and Product Launches
The company secured exclusive U.S. distribution rights for Dilon Technologies’ HEMOBLAST® Bellows and hired its approximately 20-person U.S. sales team. It also launched Trivium™ Shaped, an extension of its premium demineralized bone matrix allograft line.
