Xtant Medical Holdings Inc. Common Stock (XTNT)

FairStock Score: 65/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Xtant as a small medical-device company selling regenerative products to orthopedic and neurological surgeons. The filed record is uneven. Revenue rose from $91.3M in FY2023 to $117.3M in FY2024 and $133.9M in FY2025, and net income went from $660,000 in FY2023 to a loss of $16.4M in FY2024 and then profit of $5.0M in FY2025. That is why FairStock's rules label it TURNAROUND: returned to profit after a loss within the last three years. But the recent quarters are troubling. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $23.0M and net income was -$9.4M. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $20.9M and net income was -$3.1M. Compare that with fiscal Q2 2025, the quarter ended 2025-06-30: revenue was $35.4M and net income was $3.5M. The business has swung back to meaningful losses. At $0.32 on 2026-10-13, FairStock calculates a market cap of $44.9M, P/B of 1.14, negative P/E of -4.00, ROE of -25.16%, ROCE of -3.75%, and TTM FCF of -$696,000, a -1.6% FCF yield. Debt/equity is 0.65; Piotroski is 3/9; Altman Z is -3.37. Those are not the marks of a fortress. A medical-device niche can have switching costs, but nothing in these figures proves a durable moat. The stock looks statistically cheap against book value, but book value is not earning power. I would need evidence that revenue stabilizes and cash flow turns positive before calling this a sound value.

In plain English: Xtant Medical makes regenerative medicine products and devices used by bone and nerve surgeons. The business has recently been losing money and sales dropped sharply in the latest reported quarter, so it looks financially weak. The stock price is low compared with the company's accounting value, but because it is unprofitable, the price is hard to call clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer