Sanara MedTech Inc. - SMTI STOCK NEWS

Sanara MedTech Inc. (NASDAQ: SMTI) has received 510(k) clearance for its BIASURGE™ Advanced Surgical Solution, marking a significant milestone in its growth strategy. This patented composition is designed for mechanical cleansing and removal of debris from wounds, aiming to improve clinical outcomes and reduce healthcare costs. The product is set to be commercially available in late 2023. CEO Zach Fleming highlighted the importance of this clearance as part of the company's efforts to expand its product offerings in the surgical market, emphasizing the capabilities of Sanara's research and development team.

Sanara MedTech Inc (NASDAQ: SMTI) reported its 2022 financial results, achieving a 90% increase in net revenues to $45.8 million compared to $24.1 million in 2021. Key factors include expanding sales of its CellerateRX product line, which was sold in over 700 facilities across 29 states. Sanara generated over $5 million in revenue in a single month for the first time. However, the company reported a net loss of $8.1 million for 2022, slightly higher than $8.0 million in 2021. SG&A expenses rose significantly to $46.0 million, and R&D expenses increased to $3.4 million. Sanara plans further growth through strategic partnerships and product launches.

Sanara MedTech Inc announced the release of its financial results for the quarter and year ended December 31, 2022. The earnings report is scheduled for March 20, 2023, followed by a conference call on March 21, 2023, at 9:00 a.m. ET. The company specializes in medical technologies aimed at enhancing clinical outcomes and lowering healthcare costs in the surgical and wound care sectors. Sanara's product portfolio includes surgical collagen, tissue repair grafts, and advanced biologics. The company emphasizes its commitment to innovation and strategic partnerships in the healthcare market.

Sanara MedTech Inc. (NASDAQ: SMTI) reported strong preliminary unaudited results for Q4 and full-year 2022. Q4 net revenue reached approximately $15.3 million, a 119% increase from $7.0 million in Q4 2021. For the full year, net revenue was about $45.8 million, up 90% from $24.1 million in 2021, driven by surgical product sales and the Scendia acquisition. However, the operating loss for Q4 is estimated between $2.0 million and $3.5 million, and for the full year, losses are expected between $11.0 million and $12.5 million, increasing due to R&D and other expenses.

Sanara MedTech Inc. reported record revenues of $13.0 million for Q3 2022, a 124% increase year-over-year, driven by the acquisition of Scendia Biologics. The company integrated Scendia and formed a new partnership with InfuSystem to enhance chronic wound care solutions. Despite increased revenues, the company faced a net loss of $1.5 million in Q3, attributed to elevated SG&A and R&D expenses. Gross margins decreased to approximately 87% from 91% due to lower margins on Scendia products. Total revenues for the nine months reached $30.5 million, up 78%.

Sanara MedTech and InfuSystem Holdings have formed a partnership, SI Wound Care, LLC, to enhance wound care solutions aimed at improving patient outcomes, reducing care costs, and increasing satisfaction. This collaboration will allow InfuSystem to provide Sanara's advanced wound care products alongside existing negative pressure wound therapy (NPWT) offerings. Both companies will leverage their strengths: Sanara’s wound care expertise and InfuSystem’s extensive distribution network covering over 95% of the U.S. population.