Xtant Medical Holdings, Inc. (XTNT) Balance Sheet
XTNT balance sheet, 2025
December 31, 2025 · U.S. dollars$94.1M assets = $43.2M liabilities + $51.0M equity
Both columns are drawn to the same scale: what XTNT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XTNT financial health
Descriptive bands, not a rating. Fiscal 2025.
XTNT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $144.1M2016 | $94.1M2025 | −4.6%/yr | |
| Total liabilities | $151.2M2016 | $43.2M2025 | −13.0%/yr | |
| Shareholders’ equity | −$7.1M2016 | $51.0M2025 | — | |
| Cash & short-term investments | $2.6M2016 | $17.1M2025 | +23.4%/yr | |
| Total debt | $130.7M2016 | $28.7M2025 | −15.5%/yr | |
| Net cash (debt) | −$128.2M2016 | −$11.7M2025 | +$116.5M | |
| Working capital | $17.9M2016 | $48.8M2025 | +$30.9M | |
| Book value per share | $0.512020 | $0.342025 | −7.8%/yr | |
| Current ratio | 1.572016 | 2.652025 | +1.08 | |
| Debt / equity | 1.282020 | 0.562025 | −0.71 | |
| Shares outstanding | 28.5M2020 | 150.0M2025 | +39.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XTNT assets
XTNT liabilities and equity
XTNT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XTNT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $17.1M | $6.2M | $5.7M | $20.3M | $18.2M | $2.3M | $5.2M | $6.8M | $2.9M | $2.6M |
| Cash & equivalents | $17.1M | $6.2M | $5.7M | $20.3M | $18.2M | $2.3M | $5.2M | $6.8M | $2.9M | $2.6M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $17.8M | $20.7M | $20.7M | $10.9M | $7.2M | $6.9M | $10.1M | $10.0M | $12.7M | $19.0M |
| Inventory | $30.3M | $38.6M | $36.9M | $17.3M | $17.9M | $21.4M | $16.1M | $17.3M | $22.2M | $26.3M |
| Other current assets | $13.1M | $1.6M | $1.5M | $882,000 | $988,000 | $736,000 | $784,000 | $589,000 | $1.7M | $1.1M |
| Total current assets | $78.2M | $67.1M | $64.9M | $49.3M | $44.3M | $31.4M | $32.2M | $34.7M | $39.5M | $49.0M |
| Property, plant & equipment (net) | $9.4M | $11.0M | $10.2M | $7.2M | $6.5M | $6.0M | $6.8M | $7.2M | $9.9M | $15.8M |
| Goodwill & intangible assets | $6.4M | $15.7M | $17.4M | $3.5M | $3.6M | $3.7M | $3.7M | $3.8M | $55.4M | $77.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $133,000 | $103,000 | $141,000 | $197,000 | $287,000 | $402,000 | $394,000 | $793,000 | $925,250 | $1.8M |
| Total assets | $94.1M | $93.8M | $92.6M | $60.2M | $54.7M | $41.5M | $43.2M | $46.4M | $105.7M | $144.1M |
| Liabilities | ||||||||||
| Accounts payable | $3.8M | $7.9M | $7.1M | $3.5M | $2.6M | $2.3M | $2.2M | $6.5M | $9.3M | $10.5M |
| Short-term debt | $15.0M | $12.9M | $5.5M | $6.2M | $4.1M | $17.2M | $570,000 | $426,000 | $365,476 | $10.7M |
| Deferred revenue | — | — | — | — | — | — | $6.6M | $5.2M | $16.0M | $9.6M |
| Total current liabilities | $29.5M | $28.6M | $23.0M | $15.2M | $11.1M | $25.6M | $9.4M | $12.1M | $25.8M | $31.1M |
| Long-term debt | $11.0M | $22.0M | $17.2M | $9.7M | $11.8M | $0 | $76.2M | $78.1M | $138.6M | $120.1M |
| Lease obligations | $3.3M | $985,000 | $1.8M | $1.7M | $1.4M | $1.7M | $2.3M | $630,000 | $988,773 | $1.1M |
| Other long-term liabilities | $2.7M | $255,000 | $1.1M | $1.2M | $945,000 | $1.3M | $1.7M | $0 | $0 | $0 |
| Total liabilities | $43.2M | $50.9M | $41.3M | $26.1M | $23.8M | $27.0M | $87.4M | $90.2M | $164.4M | $151.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | $2 | $17 |
| Retained earnings (deficit) | −$254.5M | −$259.5M | −$243.0M | −$243.7M | −$235.2M | −$230.3M | −$223.3M | −$215.0M | −$144.9M | −$92.5M |
| Treasury stock | — | — | — | — | — | — | — | — | — | $0 |
| Accumulated other comprehensive income | — | −$316,000 | $29,000 | $0 | $0 | $0 | $0 | −$12.9M | −$11.3M | −$7.9M |
| Minority interest | — | — | — | — | — | — | — | — | — | $0 |
| Total shareholders' equity | $51.0M | $43.0M | $51.3M | $34.2M | $30.9M | $14.5M | −$44.2M | −$43.8M | −$58.7M | −$7.1M |
| Key figures | ||||||||||
| Total debt | $28.7M | $35.1M | $23.6M | $17.1M | $16.8M | $18.5M | $78.5M | $78.6M | $139.0M | $130.7M |
| Net cash (debt) | −$11.7M | −$28.9M | −$17.8M | $3.2M | $1.4M | −$16.2M | −$73.3M | −$71.8M | −$136.1M | −$128.2M |
| Working capital | $48.8M | $38.5M | $41.9M | $34.1M | $33.3M | $5.7M | $22.9M | $22.6M | $13.7M | $17.9M |
| Tangible book value | $44.6M | $27.3M | $34.0M | $30.6M | $27.3M | $10.9M | −$47.9M | −$47.5M | −$114.1M | −$84.5M |
| Book value per share | $0.34 | $0.32 | $0.40 | $0.36 | $0.36 | $0.51 | — | — | — | — |
| Shares outstanding | 150.0M | 133.7M | 126.8M | 94.1M | 85.5M | 28.5M | — | — | — | — |
| Current ratio | 2.65 | 2.35 | 2.82 | 3.24 | 4.00 | 1.22 | 3.43 | 2.88 | 1.53 | 1.57 |
| Quick ratio | 1.18 | 0.94 | 1.15 | 2.05 | 2.29 | 0.36 | 1.64 | 1.39 | 0.60 | 0.69 |
| Debt / equity | 0.56 | 0.82 | 0.46 | 0.50 | 0.55 | 1.28 | — | — | — | — |
| Equity / assets | 54.1% | 45.8% | 55.4% | 56.7% | 56.5% | 35.0% | −102.4% | −94.3% | −55.5% | −4.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.9M | $12.2M | $17.1M | $10.4M | $6.9M | $5.0M | $6.2M | $6.6M | $5.4M | $4.5M | $5.7M | $8.7M |
| Cash & equivalents | $9.9M | $12.2M | $17.1M | $10.4M | $6.9M | $5.0M | $6.2M | $6.6M | $5.4M | $4.5M | $5.7M | $8.7M |
| Receivables | $19.4M | $17.2M | $17.8M | $25.5M | $27.0M | $23.5M | $20.7M | $20.5M | $21.2M | $21.5M | $20.7M | $19.1M |
| Inventory | $33.3M | $31.9M | $30.3M | $40.7M | $40.1M | $38.8M | $38.6M | $41.9M | $40.5M | $38.7M | $36.9M | $34.3M |
| Other current assets | $2.2M | $1.4M | $13.1M | $1.7M | $1.6M | $1.8M | $1.6M | $2.4M | $1.9M | $1.8M | $1.5M | $2.0M |
| Total current assets | $64.8M | $62.6M | $78.2M | $78.3M | $75.6M | $69.1M | $67.1M | $71.4M | $69.0M | $66.5M | $64.9M | $64.1M |
| Property, plant & equipment (net) | $8.4M | $8.9M | $9.4M | $13.6M | $13.1M | $11.5M | $11.0M | $11.3M | $10.0M | $10.3M | $10.2M | $10.7M |
| Goodwill & intangible assets | $6.3M | $6.3M | $6.4M | $14.4M | $14.8M | $15.2M | $15.7M | $16.1M | $16.5M | $17.0M | $17.4M | $17.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $128,000 | $131,000 | $133,000 | $1,000 | $15,000 | $1,000 | $103,000 | $103,000 | $130,000 | $132,000 | $141,000 | $199,000 |
| Total assets | $79.7M | $78.0M | $94.1M | $106.3M | $103.5M | $95.8M | $93.8M | $98.9M | $95.6M | $93.9M | $92.6M | $92.0M |
| Liabilities | ||||||||||||
| Accounts payable | $6.2M | $5.5M | $3.8M | $6.9M | $7.2M | $7.1M | $7.9M | $8.3M | $6.9M | $7.4M | $7.1M | $5.4M |
| Short-term debt | $16.3M | $4.8M | $15.0M | $12.1M | $12.8M | $12.0M | $12.9M | $16.5M | $12.8M | $11.2M | — | $7.6M |
| Deferred revenue | — | — | — | — | — | — | — | −$863,000 | — | — | — | — |
| Total current liabilities | $30.0M | $18.8M | $29.5M | $35.5M | $30.6M | $29.6M | $28.6M | $33.7M | $28.3M | $28.4M | $23.0M | $21.9M |
| Long-term debt | $7.3M | $8.1M | $11.0M | $17.4M | $22.3M | $22.2M | $22.0M | $19.1M | $21.8M | $16.8M | $17.2M | $14.4M |
| Lease obligations | $3.0M | $3.2M | $3.3M | $3.8M | $2.8M | $867,000 | $985,000 | $1.2M | $1.3M | $1.7M | $1.8M | $1.8M |
| Other long-term liabilities | $2.4M | $2.5M | $2.7M | $3.0M | $2.1M | $208,000 | $255,000 | $350,000 | $492,000 | $983,000 | $1.1M | $1.0M |
| Total liabilities | $39.7M | $29.4M | $43.2M | $55.9M | $55.0M | $52.0M | $50.9M | $53.2M | $50.6M | $46.3M | $41.3M | $37.3M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$267.0M | −$257.6M | −$254.5M | −$254.5M | −$255.9M | −$259.4M | −$259.5M | −$256.3M | −$251.3M | −$247.4M | −$243.0M | −$238.7M |
| Accumulated other comprehensive income | −$1,000 | −$1,000 | — | $139,000 | $152,000 | −$209,000 | −$316,000 | $54,000 | −$175,000 | −$133,000 | — | −$146,000 |
| Total shareholders' equity | $40.0M | $48.6M | $51.0M | $50.4M | $48.5M | $43.9M | $43.0M | $45.7M | $45.0M | $47.7M | $51.3M | $54.7M |
| Key figures | ||||||||||||
| Total debt | $26.0M | $15.4M | $28.7M | $32.5M | $37.1M | $34.3M | $35.1M | $36.0M | $35.0M | $28.8M | $17.2M | $23.0M |
| Net cash (debt) | −$16.1M | −$3.3M | −$11.7M | −$22.1M | −$30.2M | −$29.3M | −$28.9M | −$29.4M | −$29.6M | −$24.2M | −$11.5M | −$14.4M |
| Working capital | $34.8M | $43.8M | $48.8M | $42.8M | $45.0M | $39.6M | $38.5M | $37.7M | $40.7M | $38.1M | $41.9M | $42.2M |
| Tangible book value | $33.7M | $42.2M | $44.6M | $36.0M | $33.7M | $28.7M | $27.3M | $29.6M | $28.5M | $30.7M | $34.0M | $37.7M |
| Book value per share | $0.29 | $0.32 | $0.34 | $0.34 | $0.33 | $0.31 | $0.31 | $0.34 | $0.35 | $0.37 | $0.39 | $0.40 |
| Shares outstanding | 140.3M | 150.5M | 150.5M | 148.6M | 148.6M | 143.3M | 139.0M | 135.1M | 130.3M | 130.2M | 130.2M | 135.7M |
| Current ratio | 2.16 | 3.34 | 2.65 | 2.21 | 2.47 | 2.34 | 2.35 | 2.12 | 2.44 | 2.34 | 2.82 | 2.92 |
| Quick ratio | 0.98 | 1.56 | 1.18 | 1.01 | 1.11 | 0.96 | 0.94 | 0.81 | 0.94 | 0.92 | 1.15 | 1.27 |
| Debt / equity | 0.65 | 0.32 | 0.56 | 0.64 | 0.76 | 0.78 | 0.82 | 0.79 | 0.78 | 0.60 | 0.33 | 0.42 |
| Equity / assets | 50.2% | 62.3% | 54.1% | 47.4% | 46.9% | 45.8% | 45.8% | 46.2% | 47.1% | 50.8% | 55.4% | 59.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
XTNT financial position
At the end of fiscal 2025 (December 31, 2025), Xtant Medical had total assets of $94.1 million (up 0.3% from a year earlier), total liabilities of $43.2 million and shareholders' equity of $51.0 million. It held $17.1 million in cash and short-term investments against $28.7 million of debt, net debt of $11.7 million. Its current ratio was 2.65. In the latest quarter (ended June 30, 2026) total assets were $79.7 million and equity $40.0 million.
Related: XTNT income statement, XTNT cash flow statement, XTNT key metrics. See the XTNT stock overview for the latest quote and news.
XTNT balance sheet FAQ
What are Xtant Medical's total assets?
Xtant Medical reported total assets of $94.1 million at the end of fiscal 2025 (December 31, 2025), compared with $93.8 million a year earlier.
How much debt does Xtant Medical have?
Xtant Medical had $28.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.56.
How much cash does Xtant Medical have?
Xtant Medical held $17.1 million in cash and short-term investments at the end of fiscal 2025; with $28.7 million of debt that is net debt of $11.7 million.
What is Xtant Medical's book value?
Xtant Medical's shareholders' equity (book value) was $51.0 million at the end of fiscal 2025, or $0.34 per share.
What is Xtant Medical's current ratio?
Xtant Medical had current assets of $78.2 million and current liabilities of $29.5 million, a current ratio of 2.65 (it can cover its short-term obligations).
How much goodwill does Xtant Medical have?
Xtant Medical carried $6.4 million of goodwill and intangible assets, 6.8% of total assets, at the end of fiscal 2025.