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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 | -632.5% | 19.0% | 288.7% |
| 2024 | $87M | $6M | $-10M | $-0M | -24.5% | 33.4% | 124.6% |
| 2023 | $65M | $-0M | $-4M | $-4M | -9.6% | 41.8% | -45.8% |
| 2022 | $46M | $-12M | $-8M | $-6M | -19.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 45.84 | 64.99 | 86.67 | 103.12 |
| Operating 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 |
| Research And Development | - | 3.37 | 4.13 | 2.83 | 5.07 |
| Selling General And Administration | - | 45.98 | 56.99 | 71.67 | 78.72 |
| Total Expenses | - | 58.08 | 72.65 | 85.43 | 93.97 |
| Operating Income | - | -12.23 | -7.67 | 1.24 | 9.15 |
| Total Operating Income As Reported | - | -12.52 | -4.22 | 1.26 | 7.30 |
| EBITDA | - | -11.57 | -0.29 | 6.11 | 10.31 |
| Normalized EBITDA | - | -10.24 | -3.99 | 6.10 | 12.14 |
| EBIT | - | -13.94 | -3.96 | 1.19 | 6.37 |
| Interest Income | - | - | 0 | 0.02 | 0 |
| Interest Expense | - | 0 | 0.48 | 3.13 | 6.76 |
| Net Interest Income | - | 0 | -0.48 | -3.11 | -6.76 |
| Other Income Expense | - | -1.70 | 3.70 | -0.08 | -2.78 |
| Interest Income Non Operating | - | - | 0 | 0.02 | 0 |
| Interest Expense Non Operating | - | 0 | 0.48 | 3.13 | 6.76 |
| Net Non Operating Interest Income Expense | - | 0 | -0.48 | -3.11 | -6.76 |
| Pretax Income | - | -13.94 | -4.44 | -1.94 | -0.39 |
| Tax Provision | 0 | -5.84 | 0 | - | - |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.28 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -8.09 | -4.44 | -1.94 | -0.39 |
| Net Income From Continuing And Discontinued Operation | - | -7.94 | -4.30 | -9.66 | -37.56 |
| Net Income From Continuing Operation Net Minority Interest | - | -7.94 | -4.30 | -1.69 | -0.39 |
| Net Income | - | -7.94 | -4.30 | -9.66 | -37.56 |
| Net Income Common Stockholders | - | -7.94 | -4.30 | -9.66 | -37.56 |
| Net Income Including Noncontrolling Interests | - | -8.09 | -4.44 | -9.91 | -37.57 |
| Normalized Income | - | -6.89 | -8 | -1.70 | 1.44 |
| Diluted NI Availto Com Stockholders | - | -7.94 | -4.30 | -9.66 | -37.56 |
| Basic Average Shares | - | 7.91 | 8.28 | 8.48 | 8.62 |
| Diluted Average Shares | - | 7.91 | 8.28 | 8.48 | 8.62 |
| Reconciled Depreciation | - | 2.37 | 3.68 | 4.92 | 3.95 |
| Reconciled Cost Of Revenue | - | 6.36 | 7.85 | 6 | 6.24 |
| Total Unusual Items | - | -1.33 | 3.70 | 0.01 | -1.83 |
| Total Unusual Items Excluding Goodwill | - | -1.33 | 3.70 | 0.01 | -1.83 |
| Minority Interests | - | 0.15 | 0.14 | 0.25 | 0.01 |
| Net Income Discontinuous Operations | - | - | - | -7.97 | -37.17 |
| Special Income Charges | - | -0.28 | 3.45 | 0.01 | -1.83 |
| Impairment Of Capital Assets | - | - | - | 0 | 1.84 |
| Restructuring And Mergern Acquisition | - | 0.28 | -3.45 | -0.01 | 0 |
| Gain On Sale Of Security | - | -1.04 | 0.25 | - | - |
| 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 | 28.05 | 45.98 | - | - | - |
| Other Gand A | 28.05 | 45.98 | - | - | - |
| Gain On Sale Of Ppe | - | - | - | 0 | 0.01 |
| Earnings From Equity Interest | - | -0.38 | 0 | -0.09 | -0.95 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sanara MedTech Inc.this co. | SMTI | $203M | -5.40 | 34.13 | -632.5% | 22.72 |
| Atrium Therapeutics, Inc. | RNA | $210M | -2.74 | 1.02 | -37.0% | 0.73 |
| Accendra Health, Inc. | ACH | $203M | -0.18 | -0.44 | 238.8% | 9.29 |
| TriSalus Life Sciences, Inc. | TLSI | $203M | -5.17 | -5.99 | 115.8% | -6.56 |
| Embecta Corp. | EMBC | $202M | 2.12 |
| - |
| - |
| - |
| - |
| - |
| -0.31 |
| -14.6% |
| 4.95 |
| Alector, Inc. | ALEC | $201M | - | 6.56 | -466.3% | - |
| Nkarta, Inc. | NKTX | $198M | - | 0.63 | -33.3% | - |
| Anika Therapeutics, Inc. | ANIK | $197M | -18.09 | 1.37 | -7.6% | -31.11 |
| Lucid Diagnostics Inc. | LUCD | $195M | - | 17.79 | -645.1% | - |
| Peer Median | - | -2.74 | 0.82 | -24.0% | 0.73 | |