Xtant Medical Holdings, Inc. (XTNT)

NYSE · Surgical & Medical Instruments & Apparatus

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company in Belgrade, United States

Corporate structure

9 entities across 7 jurisdictions, 1 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-31 — see the exhibit.

Which other public companies file entities in the same places:

Delaware2 Germany2 Nevada1 Ohio1 Luxembourg1 Singapore1 Netherlands1

Subsidiaries of Xtant Medical Holdings, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Bacterin International, Inc.	Nevada
Surgalign SPV, Inc.	Delaware
X-spine Systems, Inc.	Ohio
Xtant Medical, Inc.	Delaware
RTI Surgical Holdings Luxembourg SARL	Luxembourg	offshore centre
RTI Surgical – Singapore Pte. Ltd.	Singapore
Fourth Dimension Spine GmbH	Germany
RTI Surgical GmbH (1)	Germany
Pioneer Surgical Technology B.V. (1)	Netherlands

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

8 / 9

PASSReturn on assets positiveROA 5.3%
PASSOperating cash flow positiveOCF 13M
PASSReturn on assets improving-17.5% → 5.3%
PASSCash flow exceeds earningsOCF 13M vs NI 5M
PASSLong-term debt ratio falling23.5% → 11.7% of assets
PASSCurrent ratio improving2.35 → 2.65
FAILNo share dilution134M → 150M shares
PASSGross margin improving58.2% → 62.9%
PASSAsset turnover improving1.25× → 1.42×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$53.3M	−$7.0M	−$2.3M	64.5%	28,499,847
FY2021	$55.3M	−$4.8M	−$1.7M	58.8%	85,456,175
FY2022	$58.0M	−$8.5M	−$7.1M	55.4%	94,085,197
FY2023	$91.3M	$660,000	−$11.0M	60.8%	126,793,318
FY2024	$117.3M	−$16.4M	−$16.0M	58.2%	133,665,075
FY2025	$133.9M	$5.0M	$10.2M	62.9%	150,042,556

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of Xtant Medical Holdings, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	517,133	−12,081	$217.8M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0001453593
SIC: 3841 · Surgical & Medical Instruments & Apparatus
Incorporated: DE
Headquarters: BELGRADE, MT
Founded: 2006-01-01

Ownership

Institutional: 56.9%
Institutions: 32
Insiders: 15.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other surgical & medical instruments & apparatus companies

Xtant Medical Holdings, Inc. files under SIC 3841 — all 38 surgical & medical instruments & apparatus companies compared on assets and F-score.

BECTON DICKINSON & COBDX STRYKER CORPSYK BOSTON SCIENTIFIC CORPBSX Medline Inc.MDLN 3M COMMM BAXTER INTERNATIONAL INCBAX

Questions about Xtant Medical Holdings, Inc.

How many subsidiaries does Xtant Medical Holdings, Inc. file with the SEC?: 9, listed in its most recent exhibit 21. They are incorporated across 7 jurisdictions, led by Nevada, Delaware, Ohio. 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Xtant Medical Holdings, Inc. financially healthy?: Xtant Medical Holdings, Inc. scores 8 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Xtant Medical Holdings, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

9 entities across 7 jurisdictions, 1 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-31 — see the exhibit.

Entity

Jurisdiction

Note

Bacterin International, Inc.

Nevada

Surgalign SPV, Inc.

Delaware

X-spine Systems, Inc.

Ohio

Xtant Medical, Inc.

Delaware

RTI Surgical Holdings Luxembourg SARL

Luxembourg

offshore centre

RTI Surgical – Singapore Pte. Ltd.

Singapore

Fourth Dimension Spine GmbH

Germany

RTI Surgical GmbH (1)

Germany

Pioneer Surgical Technology B.V. (1)

Netherlands

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

8 / 9

PASSReturn on assets positiveROA 5.3%
PASSOperating cash flow positiveOCF 13M
PASSReturn on assets improving-17.5% → 5.3%
PASSCash flow exceeds earningsOCF 13M vs NI 5M
PASSLong-term debt ratio falling23.5% → 11.7% of assets
PASSCurrent ratio improving2.35 → 2.65
FAILNo share dilution134M → 150M shares
PASSGross margin improving58.2% → 62.9%
PASSAsset turnover improving1.25× → 1.42×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$53.3M	−$7.0M	−$2.3M	64.5%	28,499,847
FY2021	$55.3M	−$4.8M	−$1.7M	58.8%	85,456,175
FY2022	$58.0M	−$8.5M	−$7.1M	55.4%	94,085,197
FY2023	$91.3M	$660,000	−$11.0M	60.8%	126,793,318
FY2024	$117.3M	−$16.4M	−$16.0M	58.2%	133,665,075
FY2025	$133.9M	$5.0M	$10.2M	62.9%	150,042,556

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of Xtant Medical Holdings, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	517,133	−12,081	$217.8M

Questions about Xtant Medical Holdings, Inc.

How many subsidiaries does Xtant Medical Holdings, Inc. file with the SEC?

9, listed in its most recent exhibit 21. They are incorporated across 7 jurisdictions, led by Nevada, Delaware, Ohio. 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Xtant Medical Holdings, Inc. financially healthy?

Xtant Medical Holdings, Inc. scores 8 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Xtant Medical Holdings, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.