Sanara Medtech Inc Stock Price, News & Analysis

Sanara MedTech Inc. (NASDAQ: SMTI) reported strong financial results for the second quarter of 2022, achieving net revenues of $9.7 million, a 54% increase from the same quarter last year. The company generated over $3 million in sales each month, a first for them. Strategic highlights included an increase in facilities selling their product CellerateRX to 1,580. However, the company also recorded a net loss of $3.3 million, up from a $1.2 million loss a year earlier, primarily due to higher SG&A and R&D expenses.

Sanara MedTech Inc (NASDAQ: SMTI) announced the release of its second-quarter earnings for the period ending June 30, 2022. The earnings report will be issued on August 15, 2022, post-market close, followed by a conference call on August 16 at 9:00 a.m. ET. The call will be accessible via phone and live webcast. Sanara specializes in wound care and surgical products, focusing on improving patient outcomes through innovation and strategic partnerships. The company is dedicated to expanding its product pipeline, emphasizing advanced healing solutions.

Sanara MedTech announced the successful acquisition of Scendia Biologics, closed on July 1, 2022, for $7.4 million, comprising $1.4 million cash and $6.0 million in stock. Scendia, previously a sub-distributor and partner, had 2021 revenues of $8.3 million. The acquisition aims to enhance Sanara's product offerings, expand partnerships with health systems, and is expected to positively impact earnings per share in Q3 2022.

Sanara MedTech reported its financial results for Q1 2022, achieving a record revenue of $7.8 million, up 56% YoY. The company noted significant operational achievements, including generating over $3 million in sales within a single month and expanding its distribution network to approximately 1,250 facilities. The first quarter also marked the completion of the acquisition of Precision Healing. However, Sanara recorded a net loss of $3.2 million, attributed primarily to increased selling, general, and administrative expenses.

Sanara MedTech Inc (NASDAQ: SMTI) announced its first-quarter earnings release date for the period ending March 31, 2022. The earnings report will be published after market close on May 16, 2022, followed by a conference call on May 17, 2022, at 9:00 a.m. ET. Interested parties can join the call using the toll-free number provided. The Company focuses on improving patient outcomes with advanced wound care and surgical products. Its offerings include various innovative solutions for healthcare settings.

Sanara MedTech Inc. has completed its merger with Precision Healing Inc., enhancing its product portfolio in surgical and chronic wound care. This strategic acquisition aims to improve patient outcomes and expand Sanara's presence in the North American advanced wound care and surgical tissue repair markets. With a focus on evidence-based healing solutions, Sanara markets products like CellerateRX® and the BIAKŌS™ line, and seeks to drive innovation in telehealth and wound care.

Sanara MedTech Inc has announced a definitive agreement to merge with Precision Healing Inc. The boards of both companies approved the merger, expected to close today. Sanara has been a stakeholder in Precision Healing since 2020, holding 25.7% equity. The transaction comprises approximately $5.1 million in stock and cash, valuing Precision Healing at about $7.8 million. The merger aims to enhance diagnostic technology for chronic wounds, improving patient outcomes and offering innovative treatment protocols through advanced algorithms and multispectral imaging.

Sanara MedTech (NASDAQ: SMTI) announced strategic and financial results for 2021, reporting revenues of $24.1 million, a 55% increase from 2020. The company attributed this growth to enhanced sales of surgical products and expansion in U.S. markets. Operating costs rose, with SG&A expenses reaching $28.1 million, primarily due to sales force expansion. Despite revenue growth, Sanara reported a net loss of $8.0 million for the year, up from $4.4 million in 2020, driven by increased operational costs and R&D investments. The company plans to expand telehealth services for wound care.

Sanara MedTech Inc. (NASDAQ: SMTI) announced the upcoming release of its fourth quarter and full year results for 2021 on March 30, 2022. The press release details a conference call scheduled for March 31, 2022, at 9:00 a.m. Eastern Time, which will discuss the financial results. Sanara focuses on developing advanced wound and skincare products and is seeking to expand its offerings in telemedicine. The Company aims to improve patient outcomes and drive its pipeline from concept to market, while addressing various healthcare focus areas.