Filing Flows › Xtant Medical Holdings (XTNT) › Q3 2025
Xtant Medical Holdings (XTNT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Xtant Medical Holdings (XTNT) reported revenue of $33.3M for the third quarter 2025 (Q3 2025), +19% from a year earlier and -6% from the quarter before. Operating margin was 7.6%, net earnings $1.3M (3.9% of revenue).
Xtant Medical Holdings, Q3 2025: revenue $33.3M (+19% year over year), operating margin 7.6%, net earnings $1.3M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.3M | -6% | +19% |
| Gross profit | $22.0M | -9% | +35% |
| Operating profit | $2.5M | -45% | — |
| Net earnings | $1.3M | -63% | — |
| Operating cash flow | $4.6M | +261% | — |
| Free cash flow | $4.2M | +360% | — |
What changed
Revenue was $33.3M in Q3 2025, up 19% year over year and down 6% from the previous quarter. Orthobiologics was the largest line at 52% of revenue. Orthobiologics added $570K year over year (up 3%), 11% of the total change. Spinal Implant declined 6%.
Gross margin was 66.1%, up 7.8 points from a year earlier. Operating profit was $2.5M, a 7.6% margin (up 21.2 points year over year). Operating expenses fell 3% while revenue rose 19%. Net earnings were $1.3M. The effective tax rate was 16.4%.
Operating cash flow was $4.6M, 353% of net earnings. Non-cash charges added back $1.2M of depreciation and amortization and $600K of share-based compensation. Working capital and other items added $1.5M. Capital expenditures of $430K left free cash flow of $4.2M.
Questions
What was Xtant Medical Holdings' revenue in the third quarter 2025?
Xtant Medical Holdings (XTNT) reported revenue of $33.3M for the third quarter 2025 (Q3 2025), +19% from a year earlier and -6% from the quarter before.
Was Xtant Medical Holdings profitable in the third quarter 2025?
Operating profit was $2.5M (7.6% of revenue) and net earnings $1.3M.