Xtant Medical Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Xtant Medical Holdings, Inc. has filed its 2023 10-K report detailing financial data and key business events.</b>

AI Summary

Xtant Medical Holdings, Inc. (XTNT) filed a Annual Report (10-K) with the SEC on April 1, 2024. Xtant Medical Holdings, Inc. filed its annual report for the fiscal year ending December 31, 2023. The company was formerly known as Bacterin International Holdings, Inc. and K KITZ INC. The filing includes data related to common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings for fiscal years 2021, 2022, and 2023. Key assets mentioned include Orthobiologics, Spinal Implants, Computers and Equipment, Surgical Instruments, and Leasehold Improvements. Significant events include an Equity Purchase Agreement with Surgalign SPV Inc. on February 27, 2023, and NanOss Production Operations on October 23, 2023.

Why It Matters

For investors and stakeholders tracking Xtant Medical Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Xtant Medical's financial health and operational activities for the fiscal year 2023, crucial for investors assessing performance and future prospects. The inclusion of historical financial data and details on asset categories like Orthobiologics and Spinal Implants offers context for understanding the company's market position and strategic focus in the medical technology sector.

Risk Assessment

Risk Level: medium — Xtant Medical Holdings, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains detailed financial and operational information, but lacks specific forward-looking guidance or significant new disclosures that would drastically alter the risk profile without further analysis of the detailed financial statements and risk factors.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to assess the company's financial performance, debt levels, and potential risks in the medical technology market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-01 — Filing Date (Date of submission)
• 2023-02-27 — Equity Purchase Agreement Date (Agreement with Surgalign SPV Inc.)
• 2023-10-23 — NanOss Production Operations Date (Key operational event)

Key Players & Entities

• Xtant Medical Holdings, Inc. (company) — Filer name
• Bacterin International Holdings, Inc. (company) — Former company name
• K KITZ INC (company) — Former company name
• Surgalign SPV Inc. (company) — Party to an Equity Purchase Agreement
• Surgalign Holdings Inc. (company) — Related entity

FAQ

Industry Context

Xtant Medical Holdings operates in the biological products sector, specifically focusing on medical devices and technologies for surgical applications.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review the detailed financial statements for revenue, net income, and balance sheet items.
2. Analyze the risk factors section for potential challenges and uncertainties.
3. Examine any disclosed executive compensation details for insights into management incentives.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, superseding previous filings and providing updated financial and operational data.

Key Financial Figures

• $0.000001 — f shares of the Company's common stock, $0.000001 par value, outstanding as of March 25,
• $17.0 million — tes, for an aggregate purchase price of $17.0 million in cash. The Coflex and CoFix products
• $5 million — edings. We funded the purchase price of $5 million with cash on hand. 2 RTI Surgical,
• $2 million — . The purchase price for the assets was $2 million in cash plus a low single digit royalty

Filing Documents

• form10-k.htm (10-K) — 2211KB
• ex2-4.htm (EX-2.4) — 21KB
• ex2-5.htm (EX-2.5) — 31KB
• ex4-1.htm (EX-4.1) — 43KB
• ex10-13.htm (EX-10.13) — 117KB
• ex10-14.htm (EX-10.14) — 115KB
• ex21-1.htm (EX-21.1) — 14KB
• ex23-1.htm (EX-23.1) — 3KB
• ex23-2.htm (EX-23.2) — 4KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 70KB
• ex97-1_001.jpg (GRAPHIC) — 3KB
• ex97-1_002.jpg (GRAPHIC) — 3KB
• 0001493152-24-012145.txt (&nbsp;) — 9004KB
• xtnt-20231231.xsd (EX-101.SCH) — 58KB
• xtnt-20231231_cal.xml (EX-101.CAL) — 107KB
• xtnt-20231231_def.xml (EX-101.DEF) — 194KB
• xtnt-20231231_lab.xml (EX-101.LAB) — 491KB
• xtnt-20231231_pre.xml (EX-101.PRE) — 396KB
• form10-k_htm.xml (XML) — 1157KB

Business

Business 2 Item 1A. Risk Factors 17 Item 1B. Unresolved Staff Comments 58 Item 1C. Cybersecurity 59 Item 2.

Properties

Properties 60 Item 3. Legal Proceedings 61 Item 4. Mine Safety Disclosures 61 PART II 62 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 62 Item 6. Reserved 62 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 63 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 71 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 98 Item 9A.

Controls and Procedures

Controls and Procedures 98 Item 9B. Other Information 100 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 100 PART III 101 Item 10. Directors, Executive Officers and Corporate Governance 101 Item 11.

Executive Compensation

Executive Compensation 108 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 118 Item 13. Certain Relationships and Related Transactions, and Director Independence 120 Item 14. Principal Accountant Fees and Services 123 PART IV 125 Item 15. Exhibit and Financial Statement Schedules 125 Item 16. Form 10-K Summary 130

SIGNATURES

SIGNATURES 131 This Annual Report on Form 10-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), and are subject to the safe harbor created by those sections. For more information, see " Cautionary Statement Regarding Forward-Looking Statements ." As used in this report, the terms "we," "us," "our," "Xtant," "Xtant Medical," and the "Company" mean Xtant Medical Holdings, Inc. and our consolidated wholly-owned subsidiaries, unless the context indicates another meaning. We own various unregistered trademarks and service marks, including our corporate logo. Solely for convenience, the trademarks and trade names in this report are referred to without the and symbols, but such references should not be construed as any indicator that the owner of such trademarks and trade names will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. We include our website address throughout this report for reference only. The information contained on or connected to our website is not incorporated by reference into this report. We are a "smaller reporting company" as that term is defined in Rule 12b-2 promulgated under the Exchange Act. Accordingly, this report reflects the scaled reporting requirements of smaller reporting companies as set forth in Regulation S-K, promulgated under the Exchange Act. CAUTIONARY The of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statement

View Full Filing

View this 10-K filing on SEC EDGAR