XTNT - Xtant Medical Holdings Inc Stock Price, Fair Value and News

0.90USD+0.01 (+1.12%)Market Closed

Market Summary

USD0.90+0.01

Market Closed

1.12%

XTNT Stock Price

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XTNT RSI Chart

XTNT Valuation

Market Cap

115.9M

Price/Earnings (Trailing)

175.6

Price/Sales (Trailing)

1.27

EV/EBITDA

21.71

Price/Free Cashflow

-10.56

XTNT Price/Sales (Trailing)

XTNT Profitability

EBT Margin

-1.14%

Return on Equity

1.29%

Return on Assets

0.71%

Free Cashflow Yield

-9.47%

XTNT Fundamentals

XTNT Revenue

Revenue (TTM)

91.3M

Rev. Growth (Yr)

84.07%

Rev. Growth (Qtr)

12.35%

XTNT Earnings

Earnings (TTM)

660.0K

Earnings Growth (Yr)

-94.79%

Earnings Growth (Qtr)

-146.61%

Breaking Down XTNT Revenue

Last 7 days

14.1%

Last 30 days

-14.4%

Last 90 days

-17.6%

Trailing 12 Months

45.9%

How does XTNT drawdown profile look like?

XTNT Financial Health

Current Ratio

2.82

Debt/Equity

0.28

Debt/Cashflow

-0.66

XTNT Investor Care

Shares Dilution (1Y)

19.58%

Diluted EPS (TTM)

0.01

Historical Charts for Stock Metrics

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Net sales

Year	Q1	Q2	Q3	Q4
2023	63.0M	67.9M	78.5M	91.3M
2022	55.7M	56.0M	56.7M	58.0M
2021	51.1M	55.5M	55.3M	55.3M
2020	62.7M	58.0M	56.3M	53.3M
2019	71.0M	67.5M	66.0M	64.7M
2018	78.5M	75.8M	73.3M	72.2M
2017	91.1M	91.1M	87.8M	82.6M
2016	70.8M	82.4M	87.8M	90.0M
2015	35.9M	36.9M	46.2M	59.3M
2014	33.4M	34.0M	34.5M	35.3M
2013	33.8M	33.9M	32.9M	33.1M
2012	31.9M	32.6M	34.0M	33.0M
2011	19.1M	22.8M	26.5M	30.1M
2010	0	0	0	15.4M

Get all data in R, Python etc through our Historical Stock Data APIs

Tracking the Latest Insider Buys and Sells of Xtant Medical Holdings Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Apr 03, 2024	brandt kevin d	acquired	-	-	184,209	chief commercial officer
Apr 03, 2024	neils scott c	acquired	-	-	177,551	chief financial officer
Apr 03, 2024	schallenberger mark a.	acquired	-	-	177,551	chief operations officer
Apr 03, 2024	browne sean e	acquired	-	-	731,632	president and ceo
Jan 16, 2024	neils scott c	sold (taxes)	-8,704	1.09	-7,986	chief financial officer
Nov 17, 2023	brandt kevin d	bought	49,837	1.196	41,670	chief commercial officer
Oct 15, 2023	browne sean e	sold (taxes)	-113,877	1.08	-105,442	president and ceo
Oct 15, 2023	browne sean e	sold (taxes)	-120,659	1.08	-111,721	president and ceo
Aug 15, 2023	bakewell john k	acquired	-	-	145,180	-
Aug 15, 2023	neils scott c	acquired	-	-	116,144	chief financial officer

Which funds bought or sold XTNT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Mar 11, 2024	VANGUARD GROUP INC	added	0.99	61,118	1,694,990	-%
Mar 01, 2024	GOLDMAN SACHS GROUP INC	added	413	60,763	74,978	-%
Feb 15, 2024	Midwest Professional Planners, LTD.	unchanged	-	1,073	40,391	0.02%
Feb 15, 2024	Nantahala Capital Management, LLC	added	100	4,640,000	9,040,000	0.27%
Feb 14, 2024	AWM Investment Company, Inc.	unchanged	-	14,060	529,608	0.07%
Feb 14, 2024	CITADEL ADVISORS LLC	added	88.49	32,712	67,649	-%
Feb 14, 2024	ORBIMED ADVISORS LLC	unchanged	-	2,193,440	82,619,500	1.65%
Feb 14, 2024	BRIDGEWAY CAPITAL MANAGEMENT, LLC	added	118	231,055	416,405	0.01%

Are Funds Buying or Selling XTNT?

Are funds buying XTNT calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own XTNT

No. of Funds

Unveiling Xtant Medical Holdings Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	altium capital management lp	6.2%	8,027,593	SC 13G/A
Aug 03, 2023	orbimed advisors llc	56.7%	73,114,592	SC 13D/A
May 05, 2023	orbimed advisors llc	67.1%	73,114,592	SC 13D/A
Feb 14, 2023	altium capital management lp	5.7%	6,246,291	SC 13G/A
Sep 06, 2022	vizirgianakis stavros g.	6.62%	7,224,924	SC 13D
Aug 30, 2022	orbimed advisors llc	67.9%	73,114,592	SC 13D/A
Feb 14, 2022	altium capital management lp	7.2%	6,246,291	SC 13G/A
Apr 09, 2021	orbimed advisors llc	84.0%	72,873,494	SC 13D/A
Mar 08, 2021	altium capital management lp	9.99%	8,663,889	SC 13G
Feb 26, 2021	orbimed advisors llc	93.6%	72,803,072	SC 13D/A

Recent SEC filings of Xtant Medical Holdings Inc

View All Filings

Date Filed	Form Type	Document
Apr 08, 2024	EFFECT	EFFECT
Apr 05, 2024	4	Insider Trading
Apr 05, 2024	4	Insider Trading
Apr 05, 2024	4	Insider Trading
Apr 05, 2024	4	Insider Trading
Apr 01, 2024	S-3	S-3
Apr 01, 2024	8-K	Current Report
Apr 01, 2024	10-K	Annual Report
Mar 07, 2024	8-K	Current Report
Feb 16, 2024	4/A	Insider Trading

Peers (Alternatives to Xtant Medical Holdings Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ABT	185.5B	40.1B	-2.82%	-2.78%	32.41	4.62	-8.12%	-17.45%
BDX	66.6B	19.5B	-3.26%	-10.41%	53.01	3.42	4.02%	-22.04%
ALGN	23.3B	3.9B	-1.72%	-10.74%	52.39	6.04	3.42%	23.09%
BAX	20.4B	14.8B	-2.03%	-9.90%	7.69	1.38	2.12%	209.17%
MID-CAP
HSIC	9.4B	12.3B	0.44%	-12.46%	22.5	0.76	-2.44%	-22.68%
ATR	9.3B	3.5B	-2.07%	18.57%	32.57	2.66	4.97%	18.89%
BIO	8.0B	2.7B	-18.49%	-36.41%	-12.63	3.01	-4.68%	82.43%
XRAY	6.3B	4.0B	-5.85%	-24.53%	-46.81	1.59	1.10%	85.84%
AXNX	3.4B	366.4M	-3.04%	14.62%	-559.62	9.27	33.86%	89.83%
PDCO	2.3B	6.6B	-3.54%	-1.62%	11.94	0.35	2.78%	-0.87%
SMALL-CAP
AHCO	1.3B	3.2B	-13.37%	-14.88%	-1.88	0.4	7.73%	-1066.14%
ANIK	380.3M	166.7M	3.23%	-3.00%	-4.6	2.28	6.67%	-456.34%
ANGO	231.9M	324.0M	11.39%	-31.43%	-1.21	0.72	-3.19%	-337.41%
APYX	52.0M	52.3M	18.11%	-48.10%	-2.78	0.99	17.61%	19.28%
AEMD	4.0M	3.7M	-12.07%	240.00%	-0.33	1.07	5.77%	8.23%

Xtant Medical Holdings Inc News

Latest updates

Xtant Medical Holdings Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(*) denotes actual numbers (not divided by Thousands)
Income Statement (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	12.3%	28,108,500	25,019,000	20,232,000	17,943,000	15,270,500	14,462,000	15,277,000	12,959,000	13,969,500	13,777,000	14,975,000	12,542,000	14,014,500	14,016,000	10,529,000	14,778,000	16,964,000	15,721,000	15,271,000	16,726,000	18,262,000
Gross Profit	11.8%	17,137,500	15,334,000	12,459,000	10,536,000	8,306,500	7,896,000	8,374,000	7,560,000	7,694,000	7,191,000	9,515,000	8,091,000	8,982,000	9,248,000	6,550,000	9,613,000	11,398,500	10,411,000	9,906,000	10,813,000	7,256,000
Operating Expenses	11.9%	20,943,500	18,719,000	13,850,000	12,112,000	10,030,500	9,796,000	9,674,000	9,391,000	9,606,000	8,636,000	10,006,000	8,096,000	8,742,500	8,488,000	6,937,000	10,976,000	11,716,000	11,116,000	10,469,000	11,481,000	61,981,000
S&GA Expenses	4.5%	11,584,000	11,085,000	8,716,000	7,054,000	5,832,000	5,838,000	5,636,000	5,209,000	5,313,000	5,267,000	5,590,000	4,855,000	5,405,000	5,270,000	3,895,000	6,413,000	6,994,000	6,685,000	6,072,000	6,742,000	6,722,500
R&D Expenses	0.4%	492,000	490,000	180,000	174,000	232,000	229,000	241,000	213,000	151,000	262,000	243,000	214,000	126,500	176,000	111,000	245,000	257,000	203,000	210,000	262,000	523,000
EBITDA Margin	-22.0%	0.06	0.07	-0.07	-0.08	-0.09	-0.10	-0.09	-0.08	-0.05	0.00	0.04	0.05	-	-	-	-	-	-	-	-	-
Interest Expenses	7.6%	817,500	760,000	786,000	575,000	495,500	440,000	397,000	359,000	466,000	329,000	199,000	1,000	717,500	2,097,000	2,054,000	1,108,000	1,268,000	1,185,000	1,301,000	2,018,000	1,989,500
Income Taxes	125.1%	577,000	-2,300,000	13,000	13,000	20,500	13,000	13,000	23,000	-	30,000	43,000	23,000	228,000	23,000	23,000	22,000	30,000	23,000	22,000	23,000	-
Earnings Before Taxes	-153.8%	-3,726,000	6,931,000	-2,177,000	-2,065,000	-2,188,500	-2,340,000	-1,697,000	-2,190,000	-2,378,000	-1,774,000	-690,000	-6,000	-478,000	-1,337,000	-2,441,000	-2,471,000	-1,574,500	-1,856,000	-1,917,000	-2,776,000	-56,691,000
EBT Margin	-278.1%	-0.01	0.01	-0.13	-0.13	-0.15	-0.15	-0.14	-0.13	-0.09	-0.05	-0.05	-0.08	-	-	-	-	-	-	-	-	-
Net Income	-146.6%	-4,303,000	9,231,000	-2,190,000	-2,078,000	-2,209,000	-2,353,000	-1,710,000	-2,213,000	-2,283,000	-1,804,000	-733,000	-29,000	-706,000	-1,360,000	-2,464,000	-2,493,000	-1,604,500	-1,879,000	-1,939,000	-2,799,000	-56,691,000
Net Income Margin	-79.4%	0.01	0.04	-0.13	-0.13	-0.15	-0.15	-0.14	-0.13	-0.09	-0.06	-0.05	-0.09	-	-	-	-	-	-	-	-	-
Free Cashflow	68.5%	-1,278,000	-4,057,000	-2,935,000	-2,701,000	-2,731,000	-2,575,000	-311,000	-1,488,000	-203,000	-1,336,000	1,712,000	-1,849,000	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	0.7%	93.00	92.00	65.00	63.00	60.00	56.00	53.00	53.00	55.00	56.00	60.00	59.00	41.00	42.00	42.00	43.00	43.00	43.00	44.00	47.00	46.00
Current Assets	1.2%	65.00	64.00	40.00	37.00	49.00	45.00	42.00	43.00	44.00	46.00	49.00	48.00	31.00	32.00	31.00	32.00	32.00	32.00	32.00	34.00	35.00
Cash Equivalents	-34.0%	6.00	9.00	4.00	5.00	20.00	17.00	16.00	17.00	18.00	18.00	20.00	19.00	2.00	3.00	3.00	3.00	5.00	6.00	7.00	7.00	7.00
Inventory	7.4%	37.00	34.00	20.00	19.00	17.00	17.00	16.00	17.00	18.00	20.00	21.00	22.00	21.00	21.00	20.00	18.00	16.00	16.00	16.00	17.00	17.00
Net PPE	-4.5%	9.00	9.00	7.00	7.00	6.00	6.00	6.00	5.00	5.00	5.00	5.00	5.00	4.00	4.00	4.00	4.00	5.00	5.00	6.00	6.00	7.00
Goodwill	12.1%	7.00	7.00	7.00	8.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Liabilities	10.6%	41.00	37.00	34.00	31.00	26.00	23.00	25.00	24.00	24.00	23.00	26.00	25.00	27.00	90.00	89.00	89.00	87.00	86.00	86.00	86.00	90.00
Current Liabilities	4.9%	23.00	22.00	17.00	17.00	15.00	11.00	12.00	11.00	11.00	10.00	13.00	24.00	26.00	9.00	9.00	10.00	9.00	9.00	10.00	11.00	12.00
Long Term Debt	-100.0%	-	14.00	16.00	12.00	10.00	11.00	12.00	12.00	12.00	12.00	12.00	-	-	80.00	78.00	77.00	76.00	75.00	74.00	73.00	78.00
LT Debt, Current	-100.0%	-	3.00	1.00	5.00	2.00	1.00	-	-	-	-	-	16.00	17.00	-	-	-	-	-	-	-	-
LT Debt, Non Current	19.6%	17.00	14.00	16.00	12.00	10.00	11.00	12.00	12.00	12.00	12.00	12.00	-	-	80.00	78.00	77.00	76.00	75.00	74.00	73.00	78.00
Shareholder's Equity	-6.1%	51.00	55.00	31.00	33.00	34.00	33.00	28.00	29.00	31.00	33.00	34.00	33.00	15.00	48.00	-	-	-	-	-	-	-
Retained Earnings	-1.8%	-243	-238	-247	-245	-243	-241	-239	-237	-235	-232	-231	-230	-230	-229	-228	-225	-223	-221	-219	-217	-215
Additional Paid-In Capital	0.3%	294	294	279	278	278	274	267	267	266	266	265	264	245	182	181	179	179	179	179	179	171
Shares Outstanding	0.3%	130	130	109	109	109	93.00	87.00	87.00	87.00	85.00	84.00	81.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	-	-	-	-	7.00	-	-	-	22.00	-	-	-	4.00	-	-	-	12.00	-	-

Cashflow (Last 12 Months)

(In Thousands)

Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	76.1%	-915	-3,834	-2,521	-2,245	-2,288	-2,064	15.00	-1,004	423	-926	2,249	-1,307	916	-71.00	213	-1,789	-71.00	-1,296	464	490	1,991
Share Based Compensation	25.9%	938	745	439	617	639	641	571	613	708	580	465	456	358	237	220	269	259	95.00	39.00	122	192
Cashflow From Investing	50.3%	-2,313	-4,656	-394	-17,421	-422	-492	-254	-391	-595	-341	-471	-483	-570	-167	-392	-175	-382	-114	38.00	-86.00	-310
Cashflow From Financing	-97.5%	325	12,844	1,953	4,569	5,614	3,312	115	-21.00	-55.00	-646	106	18,092	-746	-40.00	-41.00	-34.00	-59.00	-159	-281	-104	52.00

XTNT Income Statement

2023-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue
Orthopedic product sales	$ 91,303	$ 57,969
Cost of Sales	35,836	25,832
Gross Profit	55,467	32,137
Operating Expenses
General and administrative	25,850	15,462
Sales and marketing	38,439	22,515
Research and development	1,336	915
Total Operating Expenses	65,625	38,892
Loss from Operations	(10,158)	(6,755)
Other Income (Expense)
Interest expense	(2,938)	(1,692)
Interest income	149	31
Unrealized foreign currency translation gain	265
Bargain purchase gain	11,694
Other expense	(49)
Total Other Income (Expense)	9,121	(1,661)
Net Loss from Operations Before Provision for Income Taxes	(1,037)	(8,416)
Benefit (Provision) for Income Taxes Current and Deferred	1,697	(69)
Net Income (Loss)	$ 660	$ (8,485)
Net Income (Loss) Per Share:
Basic	$ 0.01	$ (0.09)
Dilutive	$ 0.01	$ (0.09)
Shares used in the computation:
Basic	119,093,687	94,085,197
Dilutive	126,793,318	94,085,197

XTNT Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash-equivalents	$ 5,715	$ 20,298
Restricted cash	208	209
Trade accounts receivable, net of allowance for credit losses of $920 and $515, respectively	20,731	10,853
Inventories	36,885	17,285
Prepaid and other current assets	1,330	673
Total current assets	64,869	49,318
Property and equipment, net	8,692	5,785
Right of use asset, net	1,523	1,380
Goodwill	7,302	3,205
Intangible assets, net	10,085	344
Other assets	141	197
Total Assets	92,612	60,229
Current Liabilities:
Accounts payable	7,054	3,490
Accrued liabilities	10,419	5,496
Current portion of lease liability	830	458
Current portion of finance lease obligations	65	62
Line of credit	4,622	3,379
Current portion of long-term debt		2,333
Total current liabilities	22,990	15,218
Long-term Liabilities:
Lease liability, net	759	972
Financing lease obligations, net	116	181
Long-term debt, plus premium and less issuance costs	17,167	9,687
Accrued earnout liabilities	210
Deferred tax liability	21
Total Liabilities	41,263	26,058
Commitments and Contingencies (Note 14)
Stockholders’ Equity:
Preferred stock, $0.000001 par value; 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.000001 par value; 300,000,000 shares authorized; 130,180,031 shares issued and outstanding as of December 31, 2023; 108,874,803 shares issued and outstanding as of December 31, 2022
Additional paid-in capital	294,330	277,841
Accumulated other comprehensive income	29
Accumulated deficit	(243,010)	(243,670)
Total Stockholders’ Equity	51,349	34,171
Total Liabilities & Stockholders’ Equity	$ 92,612	$ 60,229

About Xtant Medical Holdings Inc

Xtant Medical Holdings, Inc. develops, manufactures, and markets regenerative medicine products and medical devices for orthopedic and neurological surgeons in the United States and internationally. Its biomaterial products include OsteoSponge that provides a natural scaffold for cellular in-growth and exposes bone-forming proteins to the healing environment; OsteoSponge SC that fills bony defects in the subchondral region of joints; OsteoSelect DBM Putty for osteoinductive bone growth; OsteoSelect PLUS DBM Putty for use as a bone void filler and bone graft substitute in the pelvis, extremities, and posterolateral spine; OsteoFactor, which contains various proteins and peptides that support bone formation and remodeling; OsteoWrap; and OsteoVive Plus, a growth factor enriched cellular bone matrix. The company also provides 3Demin, a family of allografts that maximizes osteoconductivity and the osteoinductive potential of human bone. In addition, it processes and distributes sports allografts for anterior and posterior cruciate ligament repairs, anterior cruciate ligament reconstruction, and meniscal repair; milled spinal allografts for cortical bone milled to desired shapes and dimensions; and traditional allografts for orthopedics, neurology, podiatry, oral/maxillofacial, genitourinary, and plastic/reconstructive applications. Further, the company offers Certex spinal fixation, Spider cervical plating, Axle interspinous fusion, Silex Sacroiliac joint fusion, Xpress minimally invasive pedicle screw, and Fortex Pedicle screw systems. Additionally, it provides Calix for cervical and thoracolumbar applications, Axle-X interspinous fusion system, Irix-C cervical integrated fusion system, and Irix-A Lumbar integrated fusion system. The company was formerly known as Bacterin International Holdings, Inc. and changed its name to Xtant Medical Holdings, Inc. in July 2015. Xtant Medical Holdings, Inc. is headquartered in Belgrade, Montana.

CEO	Mr. Sean E. Browne
WEBSITE	xtantmedical.com
INDUSTRY	Medical Instruments & Supplies
EMPLOYEES	134

Xtant Medical Holdings Inc Frequently Asked Questions

What is the ticker symbol for Xtant Medical Holdings Inc? What does XTNT stand for in stocks?

XTNT is the stock ticker symbol of Xtant Medical Holdings Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Xtant Medical Holdings Inc (XTNT)?

As of Wed Apr 24 2024, market cap of Xtant Medical Holdings Inc is 115.89 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of XTNT stock?

You can check XTNT's fair value in chart for subscribers.

What is the fair value of XTNT stock?

You can check XTNT's fair value in chart for subscribers. The fair value of Xtant Medical Holdings Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Xtant Medical Holdings Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for XTNT so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Xtant Medical Holdings Inc a good stock to buy?

The fair value guage provides a quick view whether XTNT is over valued or under valued. Whether Xtant Medical Holdings Inc is cheap or expensive depends on the assumptions which impact Xtant Medical Holdings Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for XTNT.

What is Xtant Medical Holdings Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Wed Apr 24 2024, XTNT's PE ratio (Price to Earnings) is 175.6 and Price to Sales (PS) ratio is 1.27. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. XTNT PE ratio will change depending on the future growth rate expectations of investors.