Filing Flows › Xtant Medical Holdings (XTNT) › Q1 2026 › vs Q4 2025
Xtant Medical Holdings (XTNT) Q1 2026 vs Q4 2025 (quarter over quarter)
Xtant Medical Holdings's revenue fell $11.5M (-35%) from $32.4M in Q4 2025 to $20.9M in Q1 2026. The biggest changes: Spinal Implant −$4.1M (-44%); Orthobiologics −$2.7M (-15%).
Xtant Medical Holdings, Q1 2026: revenue $20.9M (-36% year over year), operating margin -14.0%, net loss $3.1M, operating cash flow −$2.1M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Orthobiologics | $15.6M | $18.3M | −$2.7M | -15% |
| Spinal Implant | $5.3M | $9.4M | −$4.1M | -44% |
| Revenue | $20.9M | $32.4M | −$11.5M | -35% |
| Net loss | $3.1M | −$57K | $3.1M | — |
| Costs & expenses | $24.0M | $34.9M | −$10.9M | -31% |
| Operating costs | $23.8M | $33.3M | −$9.5M | -29% |
| Interest & other, net | $139K | −$2.5M | $2.7M | — |
| Income tax | $27K | $1.5M | −$1.5M | -98% |
| Cost of revenue | $8.9M | $14.6M | −$5.7M | -39% |
| Research & development | $435K | $459K | −$24K | -5% |
| Sales & marketing | $8.2M | $10.9M | −$2.8M | -25% |
| General & admin | $6.3M | $7.3M | −$1.0M | -14% |
| Operating cash sources | $3.4M | −$2.8M | $6.2M | — |
| Depreciation & amortization | $534K | $1.8M | −$1.3M | -71% |
| Share-based compensation | $746K | $727K | $19K | +3% |
| Cash used in operations | $2.1M | −$5.4M | $7.5M | — |
| Net loss absorbed | $3.1M | −$57K | $3.1M | — |
| Working capital & other | $305K | −$2.8M | $3.1M | — |
Questions
How much did Xtant Medical Holdings's revenue grow quarter over quarter in Q1 2026?
Xtant Medical Holdings's revenue fell $11.5M (-35%) from $32.4M in Q4 2025 to $20.9M in Q1 2026.
What drove Xtant Medical Holdings's revenue change in Q1 2026?
Spinal Implant −$4.1M (-44%); Orthobiologics −$2.7M (-15%).