XTNT
Xtant Medical Holdings, Inc.
Medical - Devices
Market Cap$80M
5Y Perf.-53.7%
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Stock Comparison
XTNT vs OSPN vs QLYS vs ATEC
Revenue, margins, valuation, and 5-year total return — side by side.
OSPN
OneSpan Inc.
Software - Infrastructure
Market Cap$455M
5Y Perf.-40.2%
QLYS
Qualys, Inc.
Software - Infrastructure
Market Cap$3.34B
5Y Perf.-17.7%
ATEC
Alphatec Holdings, Inc.
Medical - Devices
Market Cap$1.17B
5Y Perf.+74.2%
XTNT vs OSPN vs QLYS vs ATEC — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | XTNT | OSPN | QLYS | ATEC |
|---|---|---|---|---|
| Industry | Medical - Devices | Software - Infrastructure | Software - Infrastructure | Medical - Devices |
| Market Cap | $80M | $455M | $3.34B | $1.17B |
| Revenue (TTM) | $133M | $246M | $685M | $595M |
| Net Income (TTM) | $2M | $70M | $201M | $-125M |
| Gross Margin | 62.0% | 70.5% | 83.1% | 89.6% |
| Operating Margin | 4.8% | 19.4% | 33.7% | -9.6% |
| Forward P/E | — | 9.9x | 12.9x | 27.1x |
| Total Debt | $35M | $6M | $97M | $620M |
| Cash & Equiv. | $6M | $70M | $250M | $161M |
XTNT vs OSPN vs QLYS vs ATEC — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
XTNT
OSPN
QLYS
ATEC
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Xtant Medical Holdi… (XTNT) | 100 | 46.3 | -53.7% |
| OneSpan Inc. (OSPN) | 100 | 59.8 | -40.2% |
| Qualys, Inc. (QLYS) | 100 | 82.3 | -17.7% |
| Alphatec Holdings, … (ATEC) | 100 | 174.2 | +74.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: XTNT vs OSPN vs QLYS vs ATEC
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: QLYS leads in 3 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Xtant Medical Holdings, Inc. is the stronger pick specifically for growth and revenue expansion and recent price momentum and sentiment. OSPN also leads in specific categories worth noting. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
XTNT
Xtant Medical Holdings, Inc.
The Growth Play
XTNT is the #2 pick in this set and the best alternative if growth exposure and sleep-well-at-night is your priority.
- Rev growth 28.4%, EPS growth 107.7%, 3Y rev CAGR 28.5%
- Lower volatility, beta 0.69, Low D/E 81.8%, current ratio 2.35x
- Beta 0.69, current ratio 2.35x
- 28.4% revenue growth vs OSPN's 0.0%
Best for: growth exposure and sleep-well-at-night
OSPN
OneSpan Inc.
The Value Play
OSPN is the clearest fit if your priority is value and dividends.
- Lower P/E (9.9x vs 27.1x)
- 3.9% yield; 2-year raise streak; the other 3 pay no meaningful dividend
Best for: value and dividends
QLYS
Qualys, Inc.
The Income Pick
QLYS carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- beta 0.53
- 267.2% 10Y total return vs ATEC's 225.4%
- 29.4% margin vs ATEC's -21.1%
- Beta 0.53 vs OSPN's 1.23
Best for: income & stability and long-term compounding
ATEC
Alphatec Holdings, Inc.
The Growth Angle
ATEC lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: healthcare exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | XTNT | 28.4% revenue growth vs OSPN's 0.0% |
| Value | OSPN | Lower P/E (9.9x vs 27.1x) |
| Quality / Margins | QLYS | 29.4% margin vs ATEC's -21.1% |
| Stability / Safety | QLYS | Beta 0.53 vs OSPN's 1.23 |
| Dividends | OSPN | 3.9% yield; 2-year raise streak; the other 3 pay no meaningful dividend |
| Momentum (1Y) | XTNT | +10.0% vs ATEC's -37.8% |
| Efficiency (ROA) | QLYS | 19.1% ROA vs ATEC's -15.8%, ROIC 47.5% vs -12.6% |
XTNT vs OSPN vs QLYS vs ATEC — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
FY 2025
FY 2025
XTNT vs OSPN vs QLYS vs ATEC — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLOSPNLAGGINGATEC
Who Leads Where
QLYS leads in 2 of 6 categories
OSPN leads 2 • XTNT leads 0 • ATEC leads 0 • 1 tied
Explore the data ↓ATECAlphatec Holdings, In…
0leads
XTNTXtant Medical Holding…
0leads
QLYSQualys, Inc.
2leads
OSPNOneSpan Inc.
2leads
6 Total Categories
CATEGORYLEADERvs QLYSvs XTNTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
QLYS3/6
Valuation MetricsMultiples, price ratios, and targets
OSPN4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
QLYS6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
OSPN3/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
QLYS leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
QLYS is the larger business by revenue, generating $685M annually — 5.1x XTNT's $133M. QLYS is the more profitable business, keeping 29.4% of every revenue dollar as net income compared to ATEC's -21.1%. On growth, XTNT holds the edge at +19.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $133M | $246M | $685M | $595M |
| EBITDAEarnings before interest/tax | $11M | $57M | $241M | $4M |
| Net IncomeAfter-tax profit | $2M | $70M | $201M | -$125M |
| Free Cash FlowCash after capex | $5M | $47M | $290M | $7M |
| Gross MarginGross profit ÷ Revenue | +62.0% | +70.5% | +83.1% | +89.6% |
| Operating MarginEBIT ÷ Revenue | +4.8% | +19.4% | +33.7% | -9.6% |
| Net MarginNet income ÷ Revenue | +1.3% | +28.5% | +29.4% | -21.1% |
| FCF MarginFCF ÷ Revenue | +3.9% | +19.0% | +42.4% | +1.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +19.0% | +4.1% | +9.8% | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +123.7% | -18.9% | +10.1% | +37.1% |
QLYS leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
OSPN leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 6.4x trailing earnings, OSPN trades at a 63% valuation discount to QLYS's 17.5x P/E. On an enterprise value basis, OSPN's 6.0x EV/EBITDA is more attractive than ATEC's 3752.1x.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| Market CapShares × price | $80M | $455M | $3.3B | $1.2B |
| Enterprise ValueMkt cap + debt − cash | $109M | $391M | $3.2B | $1.6B |
| Trailing P/EPrice ÷ TTM EPS | -4.75x | 6.39x | 17.45x | -8.07x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 9.89x | 12.87x | 27.09x |
| PEG RatioP/E ÷ EPS growth rate | — | — | 0.90x | — |
| EV / EBITDAEnterprise value multiple | — | 6.00x | 13.49x | 3752.09x |
| Price / SalesMarket cap ÷ Revenue | 0.68x | 1.87x | 5.00x | 1.54x |
| Price / BookPrice ÷ Book value/share | 1.77x | 1.72x | 6.17x | 32.28x |
| Price / FCFMarket cap ÷ FCF | — | 9.02x | 10.98x | 422.56x |
OSPN leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
QLYS leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
QLYS delivers a 37.2% return on equity — every $100 of shareholder capital generates $37 in annual profit, vs $-4 for ATEC. OSPN carries lower financial leverage with a 0.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to ATEC's 17.21x. On the Piotroski fundamental quality scale (0–9), QLYS scores 6/9 vs XTNT's 2/9, reflecting solid financial health.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +3.8% | +27.3% | +37.2% | -4.4% |
| ROA (TTM)Return on assets | +1.8% | +18.9% | +19.1% | -15.8% |
| ROICReturn on invested capital | -12.8% | +21.7% | +47.5% | -12.6% |
| ROCEReturn on capital employed | -17.9% | +19.6% | +37.8% | -13.7% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.82x | 0.02x | 0.17x | 17.21x |
| Net DebtTotal debt minus cash | $29M | -$64M | -$153M | $459M |
| Cash & Equiv.Liquid assets | $6M | $70M | $250M | $161M |
| Total DebtShort + long-term debt | $35M | $6M | $97M | $620M |
| Interest CoverageEBIT ÷ Interest expense | 1.55x | 1656.95x | — | -3.29x |
QLYS leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
OSPN leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in QLYS five years ago would be worth $9,694 today (with dividends reinvested), compared to $3,393 for XTNT. Over the past 12 months, XTNT leads with a +10.0% total return vs ATEC's -37.8%. The 3-year compound annual growth rate (CAGR) favors OSPN at -2.4% vs ATEC's -19.5% — a key indicator of consistent wealth creation.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | -24.0% | -0.1% | -27.5% | -62.7% |
| 1-Year ReturnPast 12 months | +10.0% | -19.1% | -25.6% | -37.8% |
| 3-Year ReturnCumulative with dividends | -12.3% | -7.0% | -17.7% | -47.8% |
| 5-Year ReturnCumulative with dividends | -66.1% | -50.3% | -3.1% | -48.7% |
| 10-Year ReturnCumulative with dividends | -97.8% | -21.7% | +267.2% | +225.4% |
| CAGR (3Y)Annualised 3-year return | -4.3% | -2.4% | -6.3% | -19.5% |
OSPN leads this category, winning 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — OSPN and QLYS each lead in 1 of 2 comparable metrics.
Risk & Volatility
QLYS is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than OSPN's 1.23 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OSPN currently trades 67.0% from its 52-week high vs ATEC's 33.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.69x | 1.23x | 0.53x | 1.13x |
| 52-Week HighHighest price in past year | $0.95 | $18.13 | $155.47 | $23.29 |
| 52-Week LowLowest price in past year | $0.44 | $10.07 | $74.51 | $6.85 |
| % of 52W HighCurrent price vs 52-week peak | +60.0% | +67.0% | +61.1% | +33.3% |
| RSI (14)Momentum oscillator 0–100 | 60.9 | 61.5 | 54.2 | 26.8 |
| Avg Volume (50D)Average daily shares traded | 142K | 599K | 773K | 3.0M |
Evenly matched — OSPN and QLYS each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: OSPN as "Buy", QLYS as "Hold", ATEC as "Buy". Consensus price targets imply 222.6% upside for ATEC (target: $25) vs 27.6% for OSPN (target: $16). OSPN is the only dividend payer here at 3.95% yield — a key consideration for income-focused portfolios.
| Metric | XTNTXtant Medical Hol… | OSPNOneSpan Inc. | QLYSQualys, Inc. | ATECAlphatec Holdings… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | — | $15.50 | $134.30 | $25.00 |
| # AnalystsCovering analysts | — | 15 | 48 | 16 |
| Dividend YieldAnnual dividend ÷ price | — | +3.9% | — | — |
| Dividend StreakConsecutive years of raises | — | 2 | — | — |
| Dividend / ShareAnnual DPS | — | $0.48 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +2.9% | +5.5% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
QLYS leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). OSPN leads in 2 (Valuation Metrics, Total Returns). 1 tied.
Best OverallOneSpan Inc. (OSPN)Leads 2 of 6 categories
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XTNT vs OSPN vs QLYS vs ATEC: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is XTNT or OSPN or QLYS or ATEC a better buy right now?
For growth investors, Xtant Medical Holdings, Inc.
(XTNT) is the stronger pick with 28. 4% revenue growth year-over-year, versus 0. 0% for OneSpan Inc. (OSPN). OneSpan Inc. (OSPN) offers the better valuation at 6. 4x trailing P/E (9. 9x forward), making it the more compelling value choice. Analysts rate OneSpan Inc. (OSPN) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — XTNT or OSPN or QLYS or ATEC?
On trailing P/E, OneSpan Inc.
(OSPN) is the cheapest at 6. 4x versus Qualys, Inc. at 17. 5x. On forward P/E, OneSpan Inc. is actually cheaper at 9. 9x.
03Which is the better long-term investment — XTNT or OSPN or QLYS or ATEC?
Over the past 5 years, Qualys, Inc.
(QLYS) delivered a total return of -3. 1%, compared to -66. 1% for Xtant Medical Holdings, Inc. (XTNT). Over 10 years, the gap is even starker: QLYS returned +267. 2% versus XTNT's -97. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — XTNT or OSPN or QLYS or ATEC?
By beta (market sensitivity over 5 years), Qualys, Inc.
(QLYS) is the lower-risk stock at 0. 53β versus OneSpan Inc. 's 1. 23β — meaning OSPN is approximately 132% more volatile than QLYS relative to the S&P 500. On balance sheet safety, OneSpan Inc. (OSPN) carries a lower debt/equity ratio of 2% versus 17% for Alphatec Holdings, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — XTNT or OSPN or QLYS or ATEC?
By revenue growth (latest reported year), Xtant Medical Holdings, Inc.
(XTNT) is pulling ahead at 28. 4% versus 0. 0% for OneSpan Inc. (OSPN). On earnings-per-share growth, the picture is similar: OneSpan Inc. grew EPS 30. 1% year-over-year, compared to 15. 0% for Alphatec Holdings, Inc.. Over a 3-year CAGR, ATEC leads at 29. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — XTNT or OSPN or QLYS or ATEC?
OneSpan Inc.
(OSPN) is the more profitable company, earning 30. 0% net margin versus -18. 8% for Alphatec Holdings, Inc. — meaning it keeps 30. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: QLYS leads at 33. 2% versus -10. 7% for ATEC. At the gross margin level — before operating expenses — QLYS leads at 82. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is XTNT or OSPN or QLYS or ATEC more undervalued right now?
On forward earnings alone, OneSpan Inc.
(OSPN) trades at 9. 9x forward P/E versus 27. 1x for Alphatec Holdings, Inc. — 17. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ATEC: 222. 6% to $25. 00.
08Which pays a better dividend — XTNT or OSPN or QLYS or ATEC?
In this comparison, OSPN (3.
9% yield) pays a dividend. XTNT, QLYS, ATEC do not pay a meaningful dividend and should not be held primarily for income.
09Is XTNT or OSPN or QLYS or ATEC better for a retirement portfolio?
For long-horizon retirement investors, Qualys, Inc.
(QLYS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 53), +267. 2% 10Y return). Both have compounded well over 10 years (QLYS: +267. 2%, ATEC: +225. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between XTNT and OSPN and QLYS and ATEC?
These companies operate in different sectors (XTNT (Healthcare) and OSPN (Technology) and QLYS (Technology) and ATEC (Healthcare)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: XTNT is a small-cap high-growth stock; OSPN is a small-cap deep-value stock; QLYS is a small-cap deep-value stock; ATEC is a small-cap high-growth stock. OSPN pays a dividend while XTNT, QLYS, ATEC do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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