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Sanara Medtech Inc Financials

SMTI
Source SEC Filings (10-K/10-Q) Updated Mar 24, 2026 Currency USD FYE March

This page shows Sanara Medtech Inc (SMTI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 28 / 100
Financial Profile 28/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
38

Sanara Medtech Inc has an operating margin of 7.1%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from -7.8% the prior year.

Growth
65

Sanara Medtech Inc's revenue surged 19.0% year-over-year to $103.1M, reflecting rapid business expansion. This strong growth earns a score of 65/100.

Leverage
0

Sanara Medtech Inc has elevated debt relative to equity (D/E of 7.74), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
32

Sanara Medtech Inc's current ratio of 1.80 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
30

Sanara Medtech Inc has a free cash flow margin of 2.1%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
0

Sanara Medtech Inc generates a -632.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -24.5% the prior year.

Altman Z-Score Grey Zone
1.96

Sanara Medtech Inc scores 1.96, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($158.0M) relative to total liabilities ($67.0M). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
4/9

Sanara Medtech Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed
-0.18x

For every $1 of reported earnings, Sanara Medtech Inc generates $-0.18 in operating cash flow ($6.8M OCF vs -$37.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
1.1x

Sanara Medtech Inc earns $1.1 in operating income for every $1 of interest expense ($7.3M vs $6.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$103.1M
YoY+19.0%
5Y CAGR+45.9%
10Y CAGR+40.8%

Sanara Medtech Inc generated $103.1M in revenue in fiscal year 2025. This represents an increase of 19.0% from the prior year.

EBITDA
$11.3M
YoY+727.7%

Sanara Medtech Inc's EBITDA was $11.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 727.7% from the prior year.

Net Income
-$37.6M
YoY-288.7%

Sanara Medtech Inc reported -$37.6M in net income in fiscal year 2025. This represents a decrease of 288.7% from the prior year.

EPS (Diluted)
$-4.36
YoY-282.5%

Sanara Medtech Inc earned $-4.36 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 282.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$2.2M
YoY+1041.1%

Sanara Medtech Inc generated $2.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1041.1% from the prior year.

Cash & Debt
$16.6M
YoY+4.4%
5Y CAGR+105.2%
10Y CAGR+57.0%

Sanara Medtech Inc held $16.6M in cash against $46.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
9M
YoY+4.7%
5Y CAGR+7.8%
10Y CAGR-21.8%

Sanara Medtech Inc had 9M shares outstanding in fiscal year 2025. This represents an increase of 4.7% from the prior year.

Margins & Returns

Gross Margin
92.7%
YoY+2.1pp
5Y CAGR+3.1pp
10Y CAGR+19.2pp

Sanara Medtech Inc's gross margin was 92.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.

Operating Margin
7.1%
YoY+14.8pp
5Y CAGR+39.4pp
10Y CAGR+35.7pp

Sanara Medtech Inc's operating margin was 7.1% in fiscal year 2025, reflecting core business profitability. This is up 14.8 percentage points from the prior year.

Net Margin
-36.4%
YoY-25.3pp
5Y CAGR-7.9pp
10Y CAGR+3.3pp

Sanara Medtech Inc's net profit margin was -36.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 25.3 percentage points from the prior year.

Return on Equity
-632.5%
YoY-608.0pp
5Y CAGR-560.3pp

Sanara Medtech Inc's ROE was -632.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 608.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$5.1M
YoY-11.1%
5Y CAGR+163.2%

Sanara Medtech Inc invested $5.1M in research and development in fiscal year 2025. This represents a decrease of 11.1% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$4.6M
YoY+2147.1%
5Y CAGR+53.4%
10Y CAGR+96.7%

Sanara Medtech Inc invested $4.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2147.1% from the prior year.

SMTI Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $26.3M+1.9% $25.8M+10.2% $23.4M-10.9% $26.3M+21.4% $21.7M+7.5% $20.2M+8.8% $18.5M+4.8% $17.7M
Cost of Revenue $1.9M-3.3% $1.9M+5.6% $1.8M-18.4% $2.2M+12.9% $2.0M-0.8% $2.0M+6.3% $1.9M+5.7% $1.8M
Gross Profit $24.5M+2.4% $23.9M+10.6% $21.6M-10.2% $24.1M+22.2% $19.7M+8.4% $18.2M+9.0% $16.6M+4.7% $15.9M
R&D Expenses $1.0M-18.1% $1.3M+12.9% $1.1M-62.7% $3.0M+281.1% $784K-20.5% $986K+4.2% $946K+45.2% $652K
SG&A Expenses $19.9M-7.8% $21.6M+0.5% $21.4M-10.6% $24.0M+37.7% $17.4M-8.1% $19.0M+17.1% $16.2M-0.9% $16.3M
Operating Income $2.9M+9482.5% -$31K+98.5% -$2.1M+32.4% -$3.1M-495.3% $779K+127.0% -$2.9M-88.3% -$1.5M-577.8% -$226K
Interest Expense $1.8M+1.5% $1.8M+36.0% $1.3M+2.2% $1.3M+39.0% $928K+44.0% $644K+141.0% $267K N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$30.4M-1409.7% -$2.0M+42.9% -$3.5M-129.2% -$1.5M+46.2% -$2.9M+18.4% -$3.5M-98.6% -$1.8M-643.8% -$237K
EPS (Diluted) $-3.40-1378.3% $-0.23+43.9% $-0.41 N/A $-0.34+17.1% $-0.41-95.2% $-0.21 N/A

SMTI Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $71.1M-28.0% $98.8M+2.5% $96.4M+9.4% $88.1M-0.5% $88.5M+20.7% $73.4M+3.5% $70.9M-4.0% $73.9M
Current Assets $31.2M-7.3% $33.7M-8.6% $36.8M+10.6% $33.3M+4.4% $31.9M+53.3% $20.8M+21.1% $17.2M-9.6% $19.0M
Cash & Equivalents $14.9M-11.9% $17.0M-18.0% $20.7M+30.3% $15.9M-2.5% $16.3M+164.7% $6.2M+117.5% $2.8M-45.1% $5.1M
Inventory $3.4M-3.6% $3.5M+11.2% $3.2M+14.8% $2.8M-8.5% $3.0M-15.6% $3.6M-15.7% $4.2M-10.4% $4.7M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $3.6M0.0% $3.6M0.0% $3.6M0.0% $3.6M0.0% $3.6M0.0% $3.6M0.0% $3.6M0.0% $3.6M
Total Liabilities $64.9M+2.5% $63.4M+6.1% $59.7M+21.4% $49.2M+0.2% $49.1M+53.5% $32.0M+14.6% $27.9M-4.7% $29.3M
Current Liabilities $17.4M+16.7% $14.9M+12.0% $13.3M-13.1% $15.3M+6.6% $14.3M+24.0% $11.6M-9.3% $12.7M-7.4% $13.8M
Long-Term Debt $45.1M+2.0% $44.2M+1.9% $43.4M+41.4% $30.7M+2.0% $30.1M+109.3% $14.4M+63.9% $8.8M-3.8% $9.1M
Total Equity $6.1M-82.6% $35.4M-3.5% $36.7M-6.9% $39.4M-1.0% $39.8M-4.6% $41.7M-3.7% $43.3M-3.4% $44.8M
Retained Earnings -$73.7M-70.2% -$43.3M-4.8% -$41.3M-9.3% -$37.8M-4.2% -$36.2M-8.6% -$33.4M-11.7% -$29.9M-6.6% -$28.0M

SMTI Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow $2.2M-18.3% $2.7M+233.3% -$2.0M-314.5% $932K-54.5% $2.1M+245.2% -$1.4M+11.4% -$1.6M-87.9% -$849K
Capital Expenditures $1.1M-39.8% $1.8M+2.2% $1.7M+2286.9% $72K+693.4% $9K-84.5% $59K-10.7% $66K+21.3% $54K
Free Cash Flow $1.1M+23.7% $903K+124.3% -$3.7M-532.8% $860K-57.9% $2.0M+238.8% -$1.5M+11.4% -$1.7M-83.9% -$903K
Investing Cash Flow -$3.4M+12.9% -$3.9M+24.2% -$5.2M-3884.7% -$130K+98.0% -$6.4M-10718.3% -$59K+10.7% -$66K-21.3% -$54K
Financing Cash Flow -$775K+68.6% -$2.5M-120.6% $12.0M+1098.2% -$1.2M-108.3% $14.4M+201.1% $4.8M+827.5% -$659K-254.4% -$186K
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

SMTI Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 92.9%+0.4pp 92.5%+0.3pp 92.2%+0.7pp 91.5%+0.6pp 90.8%+0.8pp 90.0%+0.2pp 89.8%-0.1pp 89.9%
Operating Margin 11.2%+11.3pp -0.1%+8.8pp -8.9%+2.8pp -11.7%-15.3pp 3.6%+17.9pp -14.3%-6.0pp -8.3%-7.0pp -1.3%
Net Margin -115.5%-107.7pp -7.8%+7.2pp -15.0%-9.2pp -5.9%+7.3pp -13.2%+4.2pp -17.4%-7.9pp -9.5%-8.2pp -1.3%
Return on Equity -494.6%-488.9pp -5.7%+3.9pp -9.6%-5.7pp -3.9%+3.3pp -7.2%+1.2pp -8.4%-4.3pp -4.1%-3.6pp -0.5%
Return on Assets -42.8%-40.7pp -2.0%+1.6pp -3.7%-1.9pp -1.8%+1.5pp -3.2%+1.5pp -4.8%-2.3pp -2.5%-2.2pp -0.3%
Current Ratio 1.80-0.5 2.26-0.5 2.77+0.6 2.18-0.0 2.23+0.4 1.80+0.5 1.35-0.0 1.38
Debt-to-Equity 7.33+6.1 1.25+0.1 1.18+0.4 0.78+0.0 0.76+0.4 0.34+0.1 0.200.0 0.20
FCF Margin 4.2%+0.8pp 3.5%+19.4pp -15.9%-19.1pp 3.3%-6.2pp 9.4%+16.7pp -7.3%+1.7pp -9.0%-3.9pp -5.1%

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Frequently Asked Questions

Sanara Medtech Inc (SMTI) reported $103.1M in total revenue for fiscal year 2025. This represents a 19.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Sanara Medtech Inc (SMTI) revenue grew by 19% year-over-year, from $86.7M to $103.1M in fiscal year 2025.

No, Sanara Medtech Inc (SMTI) reported a net income of -$37.6M in fiscal year 2025, with a net profit margin of -36.4%.

Sanara Medtech Inc (SMTI) reported diluted earnings per share of $-4.36 for fiscal year 2025. This represents a -282.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sanara Medtech Inc (SMTI) had EBITDA of $11.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Sanara Medtech Inc (SMTI) had $16.6M in cash and equivalents against $46.0M in long-term debt.

Sanara Medtech Inc (SMTI) had a gross margin of 92.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Sanara Medtech Inc (SMTI) had an operating margin of 7.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Sanara Medtech Inc (SMTI) had a net profit margin of -36.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Sanara Medtech Inc (SMTI) has a return on equity of -632.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Sanara Medtech Inc (SMTI) generated $2.2M in free cash flow during fiscal year 2025. This represents a 1041.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Sanara Medtech Inc (SMTI) generated $6.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Sanara Medtech Inc (SMTI) had $72.9M in total assets as of fiscal year 2025, including both current and long-term assets.

Sanara Medtech Inc (SMTI) invested $4.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Sanara Medtech Inc (SMTI) invested $5.1M in research and development during fiscal year 2025.

Sanara Medtech Inc (SMTI) had 9M shares outstanding as of fiscal year 2025.

Sanara Medtech Inc (SMTI) had a current ratio of 1.80 as of fiscal year 2025, which is generally considered healthy.

Sanara Medtech Inc (SMTI) had a debt-to-equity ratio of 7.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Sanara Medtech Inc (SMTI) had a return on assets of -51.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Sanara Medtech Inc (SMTI) has an Altman Z-Score of 1.96, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Sanara Medtech Inc (SMTI) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Sanara Medtech Inc (SMTI) has an earnings quality ratio of -0.18x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Sanara Medtech Inc (SMTI) has an interest coverage ratio of 1.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Sanara Medtech Inc (SMTI) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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