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Sanara MedTech Inc., a medical technology company, develops, markets, and distributes surgical solutions to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns. It also develops BIASURGE, a no-rinse surgical solution used for wound irrigation; FORTIFY Tissue Repair Graft(FORTIFY TRG), a freeze-dried, multi-layer small intestinal submucosa extracellular matrix sheet; BiFORM, an osteoconductive, bioactive, porous implant that allows bony ingrowth across the graft site and it can be used as a strip or molded into a putty to fill a bone defect; ACTIGEN Inductive Bone Matrix, a naturally derived, differentiated allograft matrix with robust handling properties; ALLOCYTE Plus, a human allograft cellular bone matrix containing bone-derived progenitor cells and conformable bone fibers; and TEXAGEN, a multi-layer amniotic membrane allograft used as an anatomical barrier with robust handling that can be sutured for securement. The company has a license agreement with Rochal to develop, market, and sell antimicrobial products that include BIASURGE Advanced Surgical Solution, BIAKOS Antimicrobial Wound Gel, and BIAKOS Antimicrobial Skin and Wound Cleanser for the prevention and treatment of microbes on the human body. Sanara MedTech Inc. was incorporated in 2001 and is based in Fort Worth, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $103M | $10M | $-38M | $2M | -633.5% | 19.0% | - |
| 2024 | $87M | $6M | $-10M | $-0M | -24.8% | 33.4% | - |
| 2023 | $65M | $-0M | $-4M | $-4M | -9.7% | 41.8% | - |
| 2022 | $46M | $-12M | $-8M | $-6M | -19.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 45.84 | 64.99 | 86.67 | 103.12 |
| Cost Of Revenue | 6.36 | 7.85 | 8.14 | 7.52 |
| Gross Profit | 39.48 | 57.14 | 78.53 | 95.60 |
| Operating Expense | 51.71 | 64.80 | 77.29 | 86.45 |
| Operating Income | -12.23 | -7.67 | 1.24 | 9.15 |
| EBITDA | -11.57 | -0.29 | 6.11 | 10.31 |
| EBIT | -13.94 | -3.96 | 1.19 | 6.37 |
| Pretax Income | -13.94 | -4.44 | -1.94 | -0.39 |
| Tax Provision | -5.84 | 0 | 0 | 0 |
| Net Income | -7.94 | -4.30 | -9.66 | -37.56 |
| Net Income Common Stockholders | -7.94 | -4.30 | -9.66 | -37.56 |
| Total Expenses | 58.08 | 72.65 | 85.43 | 93.97 |
| Interest Expense | 0 | 0.48 | 3.13 | 6.76 |
| Interest Income | 0 | 0 | 0.02 | 0 |
| Research And Development | 3.37 | 4.13 | 2.83 | 5.07 |
| Selling General And Administration | 45.98 | 56.99 | 71.67 | 78.72 |
| Normalized EBITDA | -10.24 | -3.99 | 6.10 | 12.14 |
| Normalized Income | -6.89 | -8 | -1.70 | 1.44 |
| Basic EPS | -1 | -0.52 | -1.14 | -4.36 |
| Diluted EPS | -1 | -0.52 | -1.14 | -4.36 |
| Tax Effect Of Unusual Items | -0.28 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 | 0 |
| Total Unusual Items | -1.33 | 3.70 | 0.01 | -1.83 |
| Total Unusual Items Excluding Goodwill | -1.33 | 3.70 | 0.01 | -1.83 |
| Net Income From Continuing Operation Net Minority Interest | -7.94 | -4.30 | -1.69 | -0.39 |
| Reconciled Depreciation | 2.37 | 3.68 | 4.92 | 3.95 |
| Reconciled Cost Of Revenue | 6.36 | 7.85 | 6 | 6.24 |
| Net Interest Income | 0 | -0.48 | -3.11 | -6.76 |
| Net Income From Continuing And Discontinued Operation | -7.94 | -4.30 | -9.66 | -37.56 |
| Total Operating Income As Reported | -12.52 | -4.22 | 1.26 | 7.30 |
| Diluted Average Shares | 7.91 | 8.28 | 8.48 | 8.62 |
| Basic Average Shares | 7.91 | 8.28 | 8.48 | 8.62 |
| Diluted NI Availto Com Stockholders | -7.94 | -4.30 | -9.66 | -37.56 |
| Minority Interests | 0.15 | 0.14 | 0.25 | 0.01 |
| Net Income Including Noncontrolling Interests | -8.09 | -4.44 | -9.91 | -37.57 |
| Net Income Discontinuous Operations | 0 | 0 | -7.97 | -37.17 |
| Net Income Continuous Operations | -8.09 | -4.44 | -1.94 | -0.39 |
| Other Income Expense | -1.70 | 3.70 | -0.08 | -2.78 |
| Special Income Charges | -0.28 | 3.45 | 0.01 | -1.83 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0.01 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 1.84 |
| Restructuring And Mergern Acquisition | 0.28 | -3.45 | -0.01 | 0 |
| Earnings From Equity Interest | -0.38 | 0 | -0.09 | -0.95 |
| Gain On Sale Of Security | -1.04 | 0.25 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0 | -0.48 | -3.11 | -6.76 |
| Interest Expense Non Operating | 0 | 0.48 | 3.13 | 6.76 |
| Interest Income Non Operating | 0 | 0 | 0.02 | 0 |
| Depreciation Amortization Depletion Income Statement | 2.37 | 3.68 | 2.79 | 2.66 |
| Depreciation And Amortization In Income Statement | 2.37 | 3.68 | 2.79 | 2.66 |
| General And Administrative Expense | 45.98 | 0 | 0 | 0 |
| Other Gand A | 45.98 | 0 | 0 | 0 |
| Operating Revenue | 45.84 | 64.99 | 86.67 | 103.12 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sanara MedTech Inc.this co. | SMTI | $167M | - | 27.41 | -633.5% | 16.81 |
| AirSculpt Technologies, Inc. | AIRS | $179M | - | 1.87 | -13.3% | 32.00 |
| Stereotaxis, Inc. | STXS | $177M | - | 12.91 | -115.6% | -9.48 |
| Tonix Pharmaceuticals Holding Corp. | TNXP | $176M | - | 0.65 | -50.6% | 0.32 |
| Alpha Teknova, Inc. | TKNO | $173M |
| - |
| 2.52 |
| -25.1% |
| -17.76 |
| Protalix BioTherapeutics, Inc. | PLX | $171M | - | 3.53 | -13.7% | -36.89 |
| Journey Medical Corporation | DERM | $166M | - | 4.26 | -35.9% | -35.25 |
| Anika Therapeutics, Inc. | ANIK | $165M | - | 1.20 | -7.6% | -31.67 |
| Pro-Dex, Inc. | PDEX | $160M | 14.62 | 3.84 | 24.5% | 12.89 |
| Peer Median | - | 14.62 | 3.02 | -19.4% | -13.62 | |