Sanara MedTech ( (SMTI) ) has released its Q4 earnings. Here is a breakdown of the information Sanara MedTech presented to its investors.
Sanara MedTech Inc. is a medical technology company that focuses on developing and commercializing innovative technologies aimed at improving clinical outcomes and reducing healthcare costs in the surgical, chronic wound, and skincare markets. The company operates primarily in the North American advanced wound care and surgical tissue repair markets.
Sanara MedTech recently reported a significant increase in its financial performance for the fourth quarter and full year of 2024. The company achieved a 49% year-over-year growth in net revenue for the fourth quarter, reaching $26.3 million, and a 33% increase for the full year, totaling $86.7 million. Despite these gains, the company reported a net loss of $1.7 million for the fourth quarter and $9.9 million for the full year.
Key highlights from the earnings report include a substantial rise in sales of soft tissue repair products, particularly CellerateRX Surgical and BIASURGE, which contributed to the revenue growth. Additionally, Sanara MedTech expanded its executive leadership team and entered into a significant licensing agreement with Biomimetic Innovations Ltd, enhancing its product portfolio. The company also made strides in research and development, submitting 11 provisional patent applications in 2024.
Looking forward, Sanara MedTech’s management remains focused on driving revenue growth and improving profitability, particularly in its Sanara Surgical segment. The company plans to continue investing in its Tissue Health Plus segment, with a pilot program launch anticipated in the second quarter of 2025. Sanara MedTech aims to expand the adoption of its technologies to improve patient outcomes and reduce healthcare costs, while seeking financial partners to support its strategic initiatives.