Sanara MedTech Inc. Reports Unaudited Preliminary Financial Results for the Fourth Quarter and Full Year 2025; Introduces Full Year 2026 Financial Guidance

Rhea-AI Summary

Sanara MedTech (Nasdaq: SMTI) reported unaudited preliminary results for Q4 and full-year 2025 and issued full-year 2026 guidance. Q4 2025 revenue is expected to be $27.2M–$27.7M (up ~3%–5%; or +11%–13% ex-$1.8M BIASURGE 2024 sales). FY 2025 revenue is expected at $102.7M–$103.2M (≈19% growth; ≈21%–22% ex the $1.8M item). Cash was ≈$16.6M and long-term debt ≈$46.0M at 12/31/2025. Operational highlights include a Vizient Innovative Technology contract for BIASURGE and continued work with Biomimetic Innovations on OsStic, targeted for U.S. commercial introduction in Q1 2027 pending FDA clearance. 2026 revenue guidance is $116M–$121M (+13%–17% vs 2025 midpoint). The results remain unaudited and subject to final audit adjustments.

Positive

• Full-year 2025 net revenue expected to be $102.7M–$103.2M (+≈19% YoY)
• Q4 2025 revenue ex prior-period BIASURGE benefit up approximately 11%–13% YoY
• Vizient Innovative Technology contract expands BIASURGE access to large hospital network
• 2026 net revenue guidance of $116M–$121M (+≈13%–17% vs 2025 midpoint)

Negative

• Long-term debt increased to $46.0M as of 12/31/2025 from $30.7M a year earlier
• Cash balance was modest at approximately $16.6M at 12/31/2025
• Preliminary results are unaudited and subject to change after completion of the year-end audit

Key Figures

Q4 2025 net revenue: $27.2M–$27.7M FY 2025 net revenue: $102.7M–$103.2M Q4 2024 BIASURGE sales: $1.8M +5 more

8 metrics

Q4 2025 net revenue $27.2M–$27.7M Preliminary range vs. $26.3M in Q4 2024

FY 2025 net revenue $102.7M–$103.2M Preliminary range vs. $86.7M in FY 2024

Q4 2024 BIASURGE sales $1.8M Excluded in 2025 YoY growth commentary

Cash balance $16.6M As of Dec 31, 2025 (vs. $15.9M a year earlier)

Long-term debt $46.0M As of Dec 31, 2025 (vs. $30.7M Dec 31, 2024)

2026 revenue guidance $116M–$121M Expected FY 2026 net revenue range

2026 growth outlook 13%–17% Guided growth vs. midpoint of FY 2025 revenue range

Peri-articular fractures 100,000+ per year Estimated annual U.S. peri-articular fractures OsStic aims to address

Market Reality Check

Price: $21.75 Vol: Volume 47,795 vs. 20-day ...

normal vol

$21.75 Last Close

Volume Volume 47,795 vs. 20-day average 40,890 (relative volume 1.17x). normal

Technical Price 22.25 trades below 200-day MA of 28.28 and well under the 38.68 52-week high.

Peers on Argus

SMTI fell 2.37% while peers were mixed: ANGO +0.38%, KMTS +4.61%, EMBC -1.79%, O...

SMTI fell 2.37% while peers were mixed: ANGO +0.38%, KMTS +4.61%, EMBC -1.79%, OSUR -2.51%, STXS -0.91%, indicating a stock-specific reaction.

Previous Earnings Reports

4 past events · Latest: Nov 12 (Positive)

Same Type Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Nov 12	Q3 2025 earnings	Positive	-24.7%	Strong Q3 revenue, EBITDA growth, but large THP impairment and discontinued losses.
Aug 13	Q2 2025 earnings	Positive	+16.2%	Q2 revenue up 28% YoY with margin improvement and better operating loss.
May 14	Q1 2025 earnings	Positive	-10.8%	26% revenue growth but wider net loss amid higher operating expenses.
Mar 25	FY 2024 earnings	Positive	-12.6%	Strong Q4 and full-year revenue growth with higher losses and THP investment.

Pattern Detected

Earnings releases often showed strong revenue growth but price reactions skewed negative, with only one of four prior events trading higher next day.

Recent Company History

Across recent earnings, Sanara reported consistent revenue growth, high gross margins, and improving profitability in its surgical business, while winding down the Tissue Health Plus segment. Q2 and Q3 2025 showed strong net revenue and margin performance, yet price reactions after Q1, Q3, and 2024 full-year results were negative. Today’s preliminary 2025 figures and 2026 guidance extend the growth narrative while aligning with the shift to a pure-play surgical focus highlighted in prior filings and updates.

Historical Comparison

earnings

+16.1 %

Average Historical Move

Historical Analysis

Past earnings headlines moved SMTI about 16.08% on average. Today’s -2.37% reaction is comparatively modest versus prior volatility around results.

Typical Pattern

Earnings since early 2024 show sustained double‑digit revenue growth, high gross margins, and a transition away from the THP segment toward a focused surgical platform.

Market Pulse Summary

This announcement provides preliminary 2025 revenue of about $103M and introduces 2026 guidance of $...

Analysis

This announcement provides preliminary 2025 revenue of about $103M and introduces 2026 guidance of $116M–$121M, reinforcing a multi‑year growth trend in surgical solutions. It highlights expanding access for BIASURGE and ongoing development of OsStic, while balance sheet data show higher long‑term debt at $46.0M. Investors may watch upcoming audited results, margin trends, debt levels, and progress toward the planned 2027 OsStic launch.

Key Terms

non-gaap financial measure, u.s. food and drug administration, peri-articular fractures, innovative technology contract, +1 more

5 terms

non-gaap financial measure financial

"Net revenue excluding BIASURGE sales in the fourth quarter of 2024 is a non-GAAP financial measure."

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

u.s. food and drug administration regulatory

"following anticipated clearance by the U.S. Food and Drug Administration, to support reduction"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

peri-articular fractures medical

"to support reduction and provisional fixation treatment of the more than 100,000 peri-articular fractures"

Peri-articular fractures are breaks in the bone that occur at or very near a joint, such as the knee, shoulder or ankle, where the bone surface helps form the joint. They matter to investors because these injuries often require complex surgery, specialized implants, longer hospital stays and extended rehabilitation, which can drive demand for orthopedic devices, hospital services and rehabilitation providers much like a broken hinge needing custom repair.

innovative technology contract financial

"announced its BIASURGE product received an Innovative Technology contract from Vizient, Inc."

An innovative technology contract is a binding agreement to develop, supply, pilot or commercialize a new or cutting‑edge technology, typically laying out milestones, payments tied to outcomes, and how intellectual property will be handled. For investors it matters because such contracts can provide near‑term revenue, outside validation of a technology, and potential exclusive rights that boost future sales — like a paid prototype order that opens the door to larger, long‑term projects.

group purchasing organization financial

"Vizient, Inc. – the largest group purchasing organization in the U.S. – which significantly expands access"

A group purchasing organization (GPO) is an entity that helps a group of buyers, such as healthcare providers or businesses, combine their purchasing power to buy goods or services at lower prices. By negotiating on behalf of its members, a GPO can secure better deals than individual buyers could on their own. This can lead to cost savings and operational efficiencies, making GPOs important players in industries where large-scale purchasing influences overall expenses and profitability.

AI-generated analysis. Not financial advice.

FORT WORTH, TX, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. (“Sanara MedTech,” “Sanara,” the “Company,” “we,” “our” or “us”) (Nasdaq: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical market, today reported certain unaudited preliminary financial results for the fourth quarter and full year ended December 31, 2025, and introduced its financial guidance for the full year ending December 31, 2026.

Selected Fourth Quarter and Full Year 2025 Preliminary Financial Results (Unaudited):

• Net revenue for the fourth quarter of 2025 is expected to be in the range of $27.2 million to $27.7 million, an increase of approximately 3% to 5%, compared to $26.3 million in the fourth quarter of 2024.
  • As previously disclosed, the Company experienced growth in sales of BIASURGE^® Advanced Surgical Solution (“BIASURGE”) in the fourth quarter of 2024, as a result of supply chain issues and shortages of intravenous fluids and saline solutions experienced by the broader industry due to Hurricane Helene. Excluding approximately $1.8 million of BIASURGE sales in the fourth quarter of 2024, net revenue in the fourth quarter of 2025 is expected to increase approximately 11% to 13% year-over-year.⁽¹⁾
• Net revenue for the full year 2025 is expected to be in the range of $102.7 million to $103.2 million, an increase of approximately 19%, compared to $86.7 million for the full year 2024.
  • Excluding the aforementioned $1.8 million of BIASURGE sales in the fourth quarter 2024, net revenue for the full year 2025 is expected to increase approximately 21% to 22% year-over-year.⁽¹⁾
• As of December 31, 2025, the Company had cash of approximately $16.6 million and long-term debt of $46.0 million, compared to cash of $15.9 million and long-term debt of $30.7 million as of December 31, 2024.
  
  

Fourth Quarter and Recent Operational Highlights:

• On December 10, 2025, the Company provided an update on progress related to its strategic alliance with Biomimetic Innovations Ltd (“BMI”). In addition, Sanara reaffirmed its plans to introduce the OsStic^™ Synthetic Injectable Structural Bio-Adhesive (“OsStic”) to the U.S. commercial market in the first quarter of 2027, following anticipated clearance by the U.S. Food and Drug Administration, to support reduction and provisional fixation treatment of the more than 100,000⁽²⁾ peri-articular fractures occurring annually nationwide.
• On January 07, 2026, the Company announced its BIASURGE product received an Innovative Technology contract from Vizient, Inc. (“Vizient”), the nation’s largest provider-driven healthcare performance improvement company. The contract was awarded based on the recommendation of BIASURGE by hospital experts who serve on one of Vizient’s client-led councils, and it signifies to Vizient clients BIASURGE’s unique qualities that potentially bring improvement to the healthcare industry. The Innovative Technology contract offers Vizient’s extensive network of healthcare facility customers access to BIASURGE at contracted pricing and pre-negotiated terms, effective January 1, 2026.
  
  

Full Year 2026 Financial Guidance:

• The Company expects full year 2026 net revenue to range from $116 million to $121 million, representing growth of approximately 13% to 17%, compared to the midpoint of the expected net revenue range for the full year 2025.
  
  

“Our team delivered strong performance in 2025, culminating in preliminary net revenue of approximately $103 million, an increase of approximately 19% year-over-year,” stated Seth Yon, Sanara’s President and Chief Executive Officer. “In the fourth quarter of 2025, our preliminary net revenue increased in the range of 11% to 13% year-over-year, excluding approximately $1.8 million of BIASURGE sales in the prior year period, consistent with the range of expectations shared on our Q3 earnings call.⁽¹⁾ Operationally, we made important progress across multiple areas during the fourth quarter. Importantly, we secured a new contract with Vizient, Inc. – the largest group purchasing organization in the U.S. – which significantly expands access to BIASURGE at contracted pricing and pre-negotiated terms. In addition, we enhanced our sales and distribution network, while also working to expand our product portfolio through our initiatives with BMI related to OsStic.”

Mr. Yon continued: “Looking ahead to 2026, we expect to deliver net revenue growth of approximately 13% to 17% year-over-year, fueled primarily by sales of our soft tissue products. We are entering 2026 as a pure play surgical business for the treatment of surgical wounds, which we believe positions Sanara to deliver sustainable, long-term growth and profitability as we expand our share of the multi-billion-dollar surgical solutions market.”

The Company’s independent registered public accounting firm has not completed its procedures with respect to the preliminary financial information or its audit of our financial statements for the year ended December 31, 2025. Actual results may differ from these estimates as a result of the completion of our audit and other developments that may arise between now and the time our financial results for the fourth quarter and fiscal year are finalized.

⁽¹⁾ Net revenue excluding BIASURGE sales in the fourth quarter of 2024 is a non-GAAP financial measure. See the discussion and the reconciliations at the end of this release for additional information.
⁽²⁾ National Library of Medicine; BMI and Sanara company estimates.

About Sanara MedTech Inc.

Sanara MedTech Inc. is a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical market. The Company develops, markets, and distributes surgical products for use by physicians and clinicians in hospitals. Each of the Company’s products, services, and technologies are designed to achieve the goal of providing better clinical outcomes at a lower overall cost for patients. Sanara’s products are primarily sold in the North American surgical tissue repair markets. Sanara markets and distributes CellerateRX^® Surgical Activated Collagen^® Powder, BIASURGE^® Advanced Surgical Solution, FORTIFY TRG^® Tissue Repair Graft, FORTIFY FLOWABLE^® Extracellular Matrix, as well as a portfolio of advanced biologic products including: ACTIGEN^® Verified Inductive Bone Matrix, ALLOCYTE^® Plus Advanced Viable Bone Matrix, BiFORM^® Bioactive Moldable Matrix, and TEXAGEN^® Amniotic Membrane Allograft to the surgical market. The Company believes it can drive its pipeline from concept to preclinical and clinical development while meeting quality and regulatory requirements. The Company strives to be one of the most innovative and comprehensive providers of effective surgical solutions and is continually seeking to expand its offerings for patients requiring treatments in the United States. For more information, please visit SanaraMedTech.com.

Information about Forward-Looking Statements

The statements in this press release that do not constitute historical facts are “forward-looking statements,” within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms such as “aims,” “anticipates,” “believes,” contemplates,” “continue,” “could,” “estimates,” “expect,” “forecast,” “guidance,” “intends,” “may,” “plans,” “possible,” “potential,” “predicts,” “preliminary,” “projects,” “seeks,” “should,” “targets,” “will” or “would,” or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include, among others, statements regarding the Company’s expected net revenue for the fourth quarter and full fiscal year ended December 31, 2025, the Company’s expected cash balance as of December 31, 2025, the Company’s expected net revenue for the fiscal year ending December 31, 2026, the potential sale of BIASURGE to Vizient clients upon award of the Innovative Technology contract, the Company’s business strategy and mission, the development of new products, the timing of commercialization of the Company’s products, and the regulatory approval process. These items involve risks, contingencies and uncertainties such as the preliminary financial information remaining subject to changes and finalization based upon management’s ongoing review of results for the fourth quarter and full fiscal year 2025 and the completion of all quarter and year-end closing procedures, the extent of product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, uncertainties associated with the development and process for obtaining regulatory approval for new products, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission, which could cause the Company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements.

All forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events, except as required by applicable securities laws.

Investor Relations Contact:

Jack Powell or Mike Piccinino, CFA
ICR Healthcare
IR@sanaramedtech.com

SANARA MEDTECH INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES (UNAUDITED)

To supplement the Company’s financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we present adjusted net revenue, a non-GAAP financial measure, in this press release, which adjusts net revenue for unusual events, including the $1.8 million of sales of BIASURGE in the fourth quarter of 2024, as a result of supply chain issues and shortages of intravenous fluids and saline solutions experienced by the broader industry due to Hurricane Helene. The Company’s non-GAAP financial measures are not in accordance with, nor an alternative for, measures conforming to GAAP and may be different from non-GAAP financial measures used by other companies.

Reconciliation of Net Revenue to Adjusted Net Revenue:

($ in millions)
		Three Months Ended																Twelve Months Ended
		December 31,										% Increase						December 31,										% Increase
			2025						2024			Low			High				2025						2024			Low			High
		Low			High													Low			High
Net Revenue		$	27.2		$	27.7		$	26.3			3	%		5	%		$	102.7		$	103.2		$	86.7			19	%		19	%
BIASURGE sales (1)						-			(1.8	)												-			(1.8	)
Adjusted Net Revenue (excluding BIASURGE sales)		$	27.2		$	27.7		$	24.5			11	%		13	%		$	102.7		$	103.2		$	84.8			21	%		22	%

(1) Estimated BIASURGE sales related to supply chain issues and shortages of intravenous fluids and saline solutions experienced by the broader industry during the fourth quarter of 2024 due to Hurricane Helene.

FAQ

What were Sanara MedTech (SMTI) preliminary Q4 2025 revenues?

Sanara expects Q4 2025 net revenue of $27.2M–$27.7M, up ~3%–5% versus Q4 2024 (or +11%–13% excluding a prior-period BIASURGE sales uplift).

How much revenue did Sanara MedTech (SMTI) report for full-year 2025?

Sanara expects full-year 2025 net revenue of $102.7M–$103.2M, approximately 19% growth year-over-year.

What is Sanara MedTech's (SMTI) revenue guidance for full-year 2026?

Sanara guided 2026 net revenue of $116M–$121M, representing about 13%–17% growth versus the 2025 midpoint.

What operational developments did Sanara MedTech (SMTI) announce in Q4 2025?

Sanara disclosed a Vizient Innovative Technology contract for BIASURGE and progress with Biomimetic Innovations toward a potential OsStic U.S. launch in Q1 2027 pending FDA clearance.

How strong is Sanara MedTech's (SMTI) balance sheet at year-end 2025?

As of 12/31/2025 Sanara reported approximately $16.6M in cash and $46.0M in long-term debt.

Are Sanara MedTech's (SMTI) 2025 financial results final?

No, the numbers are unaudited preliminary results and may change after the independent registered public accounting firm completes its procedures.