Xtant Medical Holdings Inc. (XTNT) shares plunged 6.82% in after-hours on Friday, August 06, 2021, and closed the weekly trading at $1.23. However, in the regular trading on Friday, XTNT’s stock gained 2.33%. XTNT shares have risen 22.22% over the last 12 months, and they have moved up 7.32% in the past week. Over the past three months, the stock has lost 21.43%, while over the past six months, it has shed 23.26%. The company has a current market of $111.90 million and its outstanding shares stood at 86.71 million.
Let’s briefly discuss its recent news and developments
XTNT latest financial results announcement
On August 05, 2021, Xtant Medical Holdings, Inc. (XTNT), reported financial and operating results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- XTNT reported revenue of $15.0 million in Q2 2021 compared to $10.5 million for the same quarter in 2020.
- The gross margin was 63.5% in Q2 2021 compared to 62.2% in Q2 2020.
- In Q2 2021, the operating loss was $0.5 million compared to an operating loss of $0.4 million in Q2 2020.
- Operating expenses for the second quarter of 2021 were $10.0 million compared to $6.9 million for the second quarter of 2020.
- It suffered a net loss of $0.7 million in Q2 2021 compared to a net loss of $2.5 million for the prior year period.
- Non-GAAP Adjusted EBITDA was $0.9 million inQ2 2021, compared to $0.3 million in Q2 2020.
XTNT Q1 2021 financial highlights
- Revenue was 5 million in Q1 2021, compared to $14.8 million for the same period in 2020.
- Gross profit was 64.5% in Q1 2021 compared to 65.0% in Q1 2020.
- Total operating expenses were $8.1 million in Q1 2021, compared to $11.0 million for the first quarter of 2020.
- It suffered a net loss of 29,000 or $0.00 per share in Q1 2021, compared to a net loss of $2.5 million, or $0.19 per share in Q1 2020.
- Non-GAAP Adjusted EBITDA was $0.8 million in Q1 2021, compared to $0.3 million in Q1 2020.
XTNT filed a Shelf registration statement
On May 11, 2021, Xtant Medical Holdings, Inc. (XTNT), filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). Under the shelf registration, upon being declared effective by the SEC, Xtant may offer and sell, from time to time over three years, various securities in an amount of up to $150 million.
XTNT Debt Financing with MidCap Financial
On May 06, 2021, Xtant Medical Holdings, Inc and its subsidiaries have entered into credit agreements with MidCap Financial Trust. The credit agreements provide for a $12 million secured term loan at a per annum interest rate of 7.00%, plus one-month LIBOR, and an $8 million secured revolving credit facility at a per annum interest rate of 4.50%, plus one-month LIBOR. Both facilities have a five-year term.
Conclusion
XTNT stock plummeted after the company announced its Q2 2021 financial results which were unable to convince investors. Let’s see how it commence the trading on Monday?
