Xtant Medical Holdings, Inc. (NYSE American: XTNT) is a global medical technology company that focuses on providing surgical solutions for spinal and orthopedic conditions. The company operates in a competitive market, with other players in the medical technology field. On November 10, 2025, XTNT reported its earnings, revealing an earnings per share (EPS) of -$0.005, which matched the estimated EPS. The company achieved a revenue of approximately $33.26 million, surpassing the estimated revenue of $32.70 million.
XTNT's third-quarter performance in 2025 was notable, with a total revenue of $33.26 million, marking a 19% increase compared to the previous year. This growth was accompanied by positive net income, adjusted EBITDA, and operating cash flow, as highlighted by PR Newswire. Despite a negative price-to-earnings (P/E) ratio of -23.14, the company is experiencing losses, but its price-to-sales ratio of 0.78 suggests that the stock is valued at less than one times its sales.
The company has reiterated its full-year 2025 revenue guidance, projecting between $131 million and $135 million, representing an anticipated growth of 11% to 15% over the fiscal year 2024. XTNT has also announced the sale of certain hardware assets and its OUS businesses to Companion Spine, with the transaction expected to close by the end of the year. This strategic move may help XTNT focus on its core operations and improve its financial performance.
Sean Browne, President and CEO of Xtant Medical, emphasized the company's focus on self-sustainability through positive free cash flow. The strong third-quarter results reflect this strategic emphasis. XTNT's enterprise value to sales ratio is 0.84, slightly higher than the price-to-sales ratio, reflecting the company's total valuation, including debt. The enterprise value to operating cash flow ratio is notably high at 71.47, indicating that the company's cash flow is relatively low compared to its enterprise value.
XTNT maintains a strong liquidity position with a current ratio of 2.47, indicating it has more than twice the current assets compared to its current liabilities. The debt-to-equity ratio is 0.31, suggesting a moderate level of debt relative to equity. Despite a negative earnings yield of -4.32%, XTNT's financial performance in the third quarter of 2025 shows promise, with significant revenue growth and strategic initiatives aimed at improving its financial health.
