Xtant Medical Holdings, Inc. Goodwill & Intangibles Disclosure
(6) Goodwill and Intangible Assets
The results of the Company’s annual goodwill impairment tests for the years ended December 31, 2025 and 2024 indicated that no goodwill impairment existed as of the test date.
The change in the carrying amount of goodwill during the year ended December 31, 2025 included the following (in thousands):
| December 31, 2024 | $ | 7,302 | ||
| Divestiture | (1,228 | ) | ||
| December 31, 2025 | 6,074 |
The following table sets forth information regarding intangible assets (in thousands):
| December 31, 2025: | Weighted Average Life | Cost | Accumulated Amortization | Net | ||||||||||
| Patents | 13 years | $ | 1,027 | $ | (728 | ) | $ | 299 | ||||||
| December 31, 2024: | Weighted Average Life | Cost | Accumulated Amortization | Net | ||||||||||
| Patents | 11 years | $ | 2,777 | $ | (948 | ) | $ | 1,829 | ||||||
| Customer List | 6 years | 8,000 | (2,445 | ) | 5,555 | |||||||||
| Tradenames | 10 years | 1,190 | (218 | ) | 972 | |||||||||
| $ | 11,967 | $ | (3,611 | ) | $ | 8,356 | ||||||||
Amortization expense was $1.6 million and $1.7 million for the years ended December 31, 2025 and 2024. The following is a summary of estimated future amortization expense for intangible assets as of December 31, 2025 (in thousands):
| 2026 | 86 | |||
| 2027 | 52 | |||
| 2028 | 52 | |||
| 2029 | 46 | |||
| 2030 | 33 | |||
| Thereafter | 30 | |||
| Total | $ | 299 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Mar 8, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Mar 5, 2020 | |
| 2018 | Apr 1, 2019 | |
| 2015 | Mar 24, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.