Q1 2024 Xtant Medical Holdings Inc Earnings Call Transcript
Key Points
- Xtant Medical Holdings Inc (XTNT) reported a significant 55% growth in revenue over the prior year, indicating strong sales performance.
- The company successfully raised its revenue guidance for 2024 from $112 million to $116 million to a new range of $116 million to $120 million, reflecting confidence in continued growth.
- Xtant Medical Holdings Inc (XTNT) has effectively integrated the Surgalign assets, reversing a previous decline and contributing positively to the company's portfolio.
- The company has expanded its product offerings, including the introduction of new amniotic membrane allografts, enhancing its competitive position in the market.
- Xtant Medical Holdings Inc (XTNT) has strengthened its financial position by increasing its long-term debt capacity with MidCap Financial, providing more capital to execute its strategy.
- The company experienced significant supply chain challenges that impacted its ability to meet demand, particularly in its stem cell business.
- Operating expenses increased significantly in the first quarter of 2024 compared to the same period in 2023, rising from $12.1 million to $20.8 million, which could impact profitability if not managed effectively.
- Xtant Medical Holdings Inc (XTNT) reported a net loss of $4.4 million in the first quarter of 2024, indicating ongoing financial challenges.
Greetings. Welcome to the Xtant Medical Holdings, Inc. First Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to your host, Brett Maas. You may begin.
Thank you, operator, and welcome to Xtant Medical's first quarter 2024 financial results call. Joining me today is Sean Browne, President and Chief Executive Officer; Scott Neils, Chief Financial Officer. Today's call is being webcast and will be posted on the Company's website for playback.
During the course of the call, we may make certain forward-looking statements regarding to our future events and the Company's expected future performance. These forward-looking statements reflect Xtant's current perspective on existing trends and information can be identified by such words as expect, plan, will, may, anticipate, believe, should, intends and
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