Xtant Medical (XTNT) Canaccord Genuity's 46th Annual Growth Conference summary

Market opportunity and business strategy

• Addressing a $3 billion domestic orthobiologics market and $1 billion hemostasis market, with additional adjacent opportunities targeted.

• Recent acquisition of Dilon Technologies' HEMOBLAST distribution expands reach and product portfolio.

• Expanded sales force from 4 to 25 reps, enabling broader access to over 650 independent agents and 450+ IDN/GPO contracts.

• Divested non-core assets, freeing up cash and sharpening focus on regenerative biologics.

• Strategic diversification into sports medicine, surgical repair, and advanced wound care to increase hospital relevance.

Product innovation and pipeline

• Launched seven new products since 2024, including four in new categories such as growth factor, amnio, and stem cells.

• Trivium enhanced DBM product line and CollagenX have driven recent growth; E-Matrix collagen product to launch soon.

• Pipeline includes OsteoSelect fiber, CollagenX Pro, and further expansion of regenerative biologics.

• HEMOBLAST acquisition supports a comprehensive biologics offering for hospitals.

Financial performance and outlook

• Revenue reached over $134 million last year, with a current year midpoint guidance of $101 million after divestitures.

• $21.4 million in cash generated from asset sales used to reduce debt and reinvest in core business.

• $5 million paid for HEMOBLAST rights, expensed in the quarter, impacting short-term loss but expected to drive future cash generation.

• Expecting to generate cash and not require additional capital by Q4 this year.