Xtant Medical Holdings, Inc. (XTNT) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.258 the business included in the sale generate annual revenue to extend of approximately 00:00:05.258 -- 00:00:07.600 $23.5 million. 00:00:07.600 -- 00:00:12.947 As previously mentioned, these products were modestly unprofitable on a standalone basis, 00:00:12.947 -- 00:00:17.753 so the effect of the sale on our margins and bottom line metrics is anticipated to be 00:00:17.753 -- 00:00:22.272 neutral to slightly positive in 2026 and beyond. 00:00:22.272 -- 00:00:26.376 In the meantime, until this transaction closes, we continue to support those products 00:00:26.376 -- 00:00:30.319 in the field, and we will benefit from the associated hardware revenue for an additional 00:00:30.319 -- 00:00:35.323 few months. So now, turning now to our third quarter, I'm pleased to report 00:00:35.323 -- 00:00:38.046 that we delivered strong financial and operating results. 00:00:38.046 -- 00:00:41.669 Scott will cover the financials and details in a moment, but I'd like to begin by touching 00:00:41.669 -- 00:00:46.653 on a few highlights. First, our total revenue for the quarter was $33.3 million, which 00:00:46.653 -- 00:00:51.196 represents a growth of more than 90% versus the third quarter of 2024. 00:00:51.196 -- 00:00:56.601 Notably, our third quarter 2025 revenue includes $5.5 million of licensing revenue 00:00:56.601 -- 00:01:02.065 pursuant to the license agreement for Q codes and the SimplyMax dual-layer 00:01:02.065 -- 00:01:06.649 amniotic membrane that we announced in the third quarter of last year. 00:01:06.649 -- 00:01:11.694 As we indicated in Q1, CMS has extended the local coverage determination for skin 00:01:11.694 -- 00:01:15.097 substitutes to December 31, 2025. 00:01:15.097 -- 00:01:20.101 Our biologics product family, which is o...