The following is a summary of the Xtant Medical Holdings Inc. (XTNT) Q4 2023 Earnings Call Transcript:
Financial Performance:
Xtant Medical Holdings saw Q4 revenue of $28.1 million, an 84% increase year-over-year.
The Company reported annual revenue growth of more than 58% in 2023 with full year revenue of $91.3 million.
Generated positive EBITDA continually for the last three quarters.
The Financial Year 2023 saw adjusted organic growth of 17%.
Margins improved by 540 basis points through operational efficiencies and product mix.
The company experienced a Q4 2023 net loss of $4.3 million or $0.03 per share.
Extended its revolving credit facility with MidCap Financial to $17 million from $8 million for growth initiatives.
Business Progress:
Made significant headway having acquired three businesses in 2023.
Operational capabilities were enhanced, improving clean room capacity by over 50%.
The Company expanded its biologics product offering from two product categories to five.
Distribution network expansion, now boasting over 650 independent agents.
The acquisitions of Surgalign and Coflex bolstered Xtant's fixation line and operations on the ambulatory surgery centers and outpatient markets.
Implementation of crucial process improvement initiatives and capacity expansion has resulted in increased production levels and efficiency.
Focused on capturing a greater share of the spine and orthobiologics market.
Forecasted a full year 2024 revenue range of $112 million to $116 million, representing revenue growth of approximately 23% to 27% compared to the full year 2023.
More details: Xtant Medical IR
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