Sanara MedTech (SMTI) Company Report

Sanara MedTech discontinued the Tissue Health Plus (THP) segment after a formal evaluation process did not yield a strategic partner or monetization option, classifying it as discontinued operations for Q3 2025 and 2024. The company expects $5.5 million-$6.5 million in total cash investment related to THP in the second half of 2025, with $4 million already spent in Q3 2025, and no material cash spend anticipated after 2025.
For Q3 2025, the surgical business reported net revenue of $26.3 million, a 22% year-over-year increase, primarily driven by a 24% rise in soft tissue repair product sales to $23.4 million. Net income from continuing operations was $800,000 ($0.09 per diluted share), and adjusted EBITDA increased by $2.3 million to $4.9 million.
The company anticipates high single-digit to low teens year-over-year revenue growth for Q4 2025, excluding a $1.8 million benefit from Q4 2024 due to increased BiOSurge demand following Hurricane Helen.
Seth Yon was appointed President and CEO effective September 15, 2025. Additionally, all agreed-upon milestones for the OSTIC product under the strategic partnership with Biomimetic Innovations Limited (BMI) were completed by September 30, 2025, with a U.S. commercial launch anticipated in Q1 2027.

Nov 12, 2025, 1:00 PM

Transcript

Sanara MedTech Inc. Reports Q3 2025 Financial Results and Strategic Realignment

SMTI

Earnings

Management Change

Revenue Acceleration/Inflection

Sanara MedTech Inc. reported net revenue of $26.3 million for Q3 2025, representing a 22% increase year-over-year, and $75.6 million for the first nine months of 2025, a 25% increase year-over-year.
The company achieved net income from continuing operations of $0.8 million in Q3 2025, an improvement from a net loss of $0.2 million in Q3 2024, with Adjusted EBITDA reaching $4.9 million.
Seth Yon was appointed President and Chief Executive Officer, effective September 15, 2025.
Sanara initiated a strategic realignment by ceasing operations of Tissue Health Plus (THP), classifying it as discontinued operations, which resulted in a $31.2 million net loss from discontinued operations for Q3 2025, including a $26.5 million noncash asset impairment charge.

Nov 12, 2025, 12:05 PM

8-K

Sanara MedTech Appoints New CEO and Reports Strong Q2 Growth

SMTI

CEO Change

Revenue Acceleration/Inflection

New Projects/Investments

Newly appointed CEO Seth Young will assume his role on September 15.
The company reported strong Q2 growth of 25.8%, with balanced performance across soft tissue and bone repair products, including a 25% increase in Syndia.
Sanara MedTech generated cash from operations in Q2, with the surgical business achieving $14 million in trailing twelve months EBITDA.
Strategic alternatives are being explored for the THP business, potentially including a sale, partnership, or funding.
A key pipeline product, Ostic, a bio-adhesive for periarticular fractures, received FDA breakthrough designation and is expected to launch in 2027.

Sep 3, 2025, 8:00 PM

Sanara MedTech Reports Q2 2025 Financial Results and Strategic Review for THP

SMTI

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Sanara MedTech Inc. reported net revenue of $25.8 million for the second quarter of 2025, marking a 28% increase year-over-year, and $49.3 million for the first six months of 2025, a 27% increase year-over-year.
The company's net loss for Q2 2025 was $2.0 million, an improvement from a $3.5 million net loss in Q2 2024, and the net loss for the first six months of 2025 was $5.5 million.
Adjusted EBITDA for Q2 2025 was $2.7 million, significantly up from $0.6 million in Q2 2024, and $3.3 million for the first six months of 2025, compared to $0.9 million in the same period last year.
The Sanara Surgical segment generated net income of $0.5 million and $4.7 million in Segment Adjusted EBITDA for Q2 2025, while the Tissue Health Plus (THP) segment recorded a net loss of $2.5 million and $(2.1) million in Segment Adjusted EBITDA for the same quarter.
Sanara MedTech Inc. has initiated a formal process to evaluate strategic alternatives for its Tissue Health Plus, LLC (THP) subsidiary to maximize shareholder value.

Aug 13, 2025, 12:00 AM

8-K

Sanara MedTech Inc. Announces Leadership Change

SMTI

CFO Change

Management Change

Michael D. McNeil will retire from his roles as Chief Accounting and Chief Administrative Officer effective August 19, 2025.
CFO Elizabeth B. Taylor will assume his duties as the principal accounting officer and lead transition advisory discussions.

May 23, 2025, 12:00 AM

8-K

Sanara Medtech Inc Reports Q1 2025 Financial Results

SMTI

Earnings

Product Launch

Revenue Acceleration/Inflection

Sanara Surgical segment achieved net revenue of $23.4M with 26% year-over-year growth, driven by strong soft tissue repair and bone fusion product sales.
Adjusted EBITDA in the Sanara Surgical segment increased by $1.5M year-over-year to $2.7M, despite a slight rise in net loss.
The Tissue Health Plus segment launched its THP technology platform, including THP CoPilot, with a pilot set for Q2 2025 and ongoing discussions with financial partners.
The company enhanced its distribution network to over 400 partners and expanded its facility base, reinforcing its growth strategy.

May 14, 2025, 12:01 PM

Transcript

Sanara MedTech Acquires CarePICS and Secures Additional Debt

SMTI

M&A

Debt Issuance

Sanara MedTech Inc. entered into a Material Definitive Agreement to acquire CarePICS, making it an indirect wholly owned subsidiary, with a total cash consideration of $2.0 million plus $1.65 million to settle existing indebtedness and provisions for potential earnouts.
The company also executed a third borrowing of $12.25 million under its term loan facility at a 13.25% per annum rate, maturing on May 30, 2029, to fund acquisition opportunities and general corporate purposes.

Apr 4, 2025, 12:00 AM

8-K

Sanara Medtech Q4 2024 Earnings Results

SMTI

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

Revenue Growth: Q4 net revenue reached $26.3 million, marking a 49% increase YoY driven by strong performance in soft tissue repair products and growth in bone fusion products.
Profitability Metrics: Gross profit increased by $8.2 million to $24.1 million with a gross margin of 91.4%, highlighting improved product mix and operational efficiency.
Segment Performance: While the overall operating loss was $0.4 million leading to a net loss of $1.7 million, the Sanara Surgical segment recorded a turnaround with net income of $0.9 million compared to losses in the Tissue Health Plus segment.
Strategic Initiatives: The company advanced its strategic outlook by securing an exclusive licensing and distribution agreement with Biomimetic Innovations for the OsStic product and outlined significant investments of $7.5M to $10M in the Tissue Health Plus segment as it prepares for its Q2 2025 pilot launch.

Mar 25, 2025, 12:01 PM

Transcript

Sanara MedTech Reports Q4 2024 Results

SMTI

Earnings

Revenue Acceleration/Inflection

Board Change

Q4 unaudited results: Net revenue increased 49% YoY to $26.3 million with adjusted EBITDA of $0.9 million, despite a net loss of $1.7 million compared to $0.3 million last quarter.
Full Year 2024 performance: Net revenue grew 33% to $86.7 million, while the net loss widened from $4.4 million to $9.9 million, alongside an adjusted EBITDA improvement to $2.7 million.
Operational updates: The company announced key developments including a new board appointment, an exclusive U.S. license and distribution agreement, and executive leadership changes aimed at supporting its growth strategy.