Sanara MedTech Inc. SMTI
are a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and
reduce healthcare expenditures in the surgical market. Our products are designed to achieve our goal of providing better clinical outcomes
at a lower overall cost for healthcare systems. We strive to be one of the most innovative and comprehensive providers of effective surgical
solutions and are continually seeking to expand our offerings for patients requiring surgical treatments in the United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $103.1M | $86.7M | $65.0M | $45.8M | $24.1M | $15.6M | $11.8M | $5.8M | $6.3M | $5.5M |
| Cost of revenue | $7.5M | $8.1M | $7.9M | $6.4M | $2.3M | $1.6M | $1.2M | $507.4K | $806.0K | $943.6K |
| Gross profit | $95.6M | $78.5M | $57.1M | $39.5M | $21.8M | $14.0M | $10.6M | $5.3M | $5.5M | $4.6M |
| R&D | $5.1M | $2.8M | $4.1M | $3.4M | $558.7K | $40.2K | — | — | — | — |
| SG&A | $78.7M | $71.7M | $57.0M | $46.0M | $28.1M | $18.7M | $13.1M | $5.7M | $5.3M | $3.9M |
| Total operating expenses | $88.3M | $77.3M | $61.4M | $52.0M | $29.2M | $19.0M | $13.3M | $5.8M | $5.4M | $4.8M |
| Operating income | $7.3M | $1.3M | -$4.2M | -$12.5M | -$7.4M | -$5.0M | -$2.7M | -$501.9K | $120.4K | -$272.1K |
| Interest expense | $6.8M | $3.1M | $475.8K | $284.7K | $711 | $11.5K | $105.9K | $86.6K | $126.8K | $174.5K |
| Pre-tax income | -$393.1K | -$1.9M | -$4.4M | -$13.9M | -$8.0M | -$4.4M | -$2.8M | -$600.6K | $331.3K | -$415.7K |
| Income tax | — | $48.4K | — | $5.8M | — | $0 | $0 | $0 | $0 | $0 |
| Net income | $37.6M | $9.7M | $4.3M | -$7.9M | -$7.9M | -$4.4M | -$2.8M | -$600.6K | $331.3K | -$415.7K |
| EPS, basic | -4.36 | -1.14 | -0.52 | -1.00 | -1.08 | -0.76 | -1.32 | 0.00 | 0.00 | -0.01 |
| EPS, diluted | -4.36 | -1.14 | -0.52 | -1.00 | -1.08 | -0.76 | -1.32 | 0.00 | 0.00 | -0.01 |
| Shares, diluted (wtd. avg.) | $8.6M | $8.5M | $8.3M | $7.9M | $7.3M | $5.7M | $2.1M | $217.2M | $208.6M | $108.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.6M | $15.9M | $5.1M | $9.0M | $18.7M | $455.4K | $6.6M | $176.4K | $463.2K | $833.5K |
| Receivables | — | — | — | $6.8M | $2.9M | — | — | — | — | — |
| Inventory | $3.9M | $2.8M | $4.7M | $3.5M | $2.0M | $1.1M | $746.5K | $465.3K | $711.4K | $348.5K |
| Total current assets | $33.5M | $33.3M | $19.0M | $20.6M | $24.6M | $4.5M | $8.9M | $1.7M | $2.0M | $2.0M |
| Property, plant and equipment | $457.0K | $432.3K | $1.3M | $1.4M | $1.6M | $678.6K | $205.0K | $18.8K | $63.2K | $34.9K |
| Goodwill | $3.6M | $3.6M | $3.6M | $3.6M | — | — | — | — | — | — |
| Other intangibles | $18.6M | $23.5M | $44.9M | $31.5M | $4.7M | $3.1M | $1.5M | $0 | $117.3K | $140.3K |
| Total assets | $72.9M | $88.1M | $73.9M | $61.0M | $36.4M | $9.8M | $11.1M | $1.7M | $2.2M | $2.2M |
| Accounts payable | — | — | — | $1.4M | $438.2K | $271.3K | $337.5K | $156.7K | $225.5K | $238.2K |
| Short-term debt | — | — | $580.4K | — | — | — | — | — | — | — |
| Total current liabilities | $18.6M | $15.3M | $13.8M | $12.8M | $6.0M | $3.5M | $2.6M | $1.1M | $2.1M | $1.4M |
| Long-term debt | $46.0M | $30.7M | $9.1M | — | — | — | — | — | — | — |
| Total liabilities | $67.0M | $49.2M | $29.3M | $19.3M | $6.2M | $4.0M | $4.7M | $1.1M | $2.1M | $2.6M |
| Retained earnings | -$75.3M | -$37.8M | -$28.0M | -$23.4M | -$15.2M | -$7.0M | -$2.7M | $138.3K | -$46.9M | -$47.2M |
| Total equity | $5.9M | $39.4M | $44.6M | $41.7M | $30.2M | $5.8M | $6.4M | $586.8K | $102.5K | -$423.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.8M | -$23.8K | -$3.2M | -$5.6M | -$4.8M | -$4.0M | -$2.2M | $277.1K | -$139.9K | $409.2K |
| Depreciation and amortisation | $3.9M | $4.9M | $456.1K | $407.8K | $220.6K | $67.8K | $120.0K | — | — | — |
| Stock-based compensation | $5.2M | $4.4M | $3.4M | $2.7M | $2.7M | $1.4M | $0 | — | — | — |
| Capital expenditure | $4.6M | $205.8K | $265.2K | $147.0K | $171.9K | $544.4K | $182.8K | $8.5K | $43.9K | $3.0K |
| Investing cash flow | -$15.0M | -$6.6M | -$10.2M | -$3.5M | -$5.3M | -$2.7M | -$1.2M | -$8.5K | -$85.9K | -$3.0K |
| Financing cash flow | $8.9M | $17.4M | $9.6M | -$627.3K | $28.3M | $622.3K | $9.8M | $0 | -$144.6K | $244.9K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-017156.
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