Core Viewpoint - Sanara MedTech Inc. (SMTI) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Recent Performance and Outlook - For the fiscal year ending December 2024, Sanara MedTech is expected to earn -$1.42 per share, reflecting a change of -173.1% from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Sanara MedTech has increased by 30%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - The upgrade to Zacks Rank 2 places Sanara MedTech in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].

Financial Data and Key Metrics Changes - The company generated $21.7 million in net revenue during Q3 2024, a 35% increase year-over-year, marking the 12th consecutive record revenue quarter [5][20] - Adjusted EBITDA improved to $800,000 in Q3 2024, compared to $300,000 in Q3 2023 [6] - Gross profit for Q3 2024 was $19.7 million, up $5.4 million or 38% from the prior year [21] - The company reported a net loss of $2.9 million for Q3 2024, compared to a net loss of $1.1 million in Q3 2023 [23] Business Line Data and Key Metrics Changes - The Surgical segment reported a net loss of $200,000 in Q3 2024, with a year-to-date loss of $2.9 million [7] - Surgical segment generated $2.6 million in segmented EBITDA for Q3 2024 and $5.1 million year-to-date [25] - Sales of soft tissue products increased from $13.6 million in Q3 2023 to $18.9 million in Q3 2024, while bone fusion products grew from $2.3 million to $2.8 million in the same period [13] Market Data and Key Metrics Changes - Products were sold in over 1,200 hospitals across 34 states and the District of Columbia, with contracts or approvals in more than 4,000 facilities [12] - The company has selling agreements with over 300 distributors, representing more than 2,900 potential sellers [12] Company Strategy and Development Direction - The company is focused on disrupting the $100 billion-plus non-acute wound care market through its Tissue Health Plus (THP) strategy [16] - Plans to invest in THP technology platform and related infrastructure through an expected commercial launch in mid-2025 [8] - The company is pursuing financial partners that align with its strategy, including a recent $5 million investment in ChemoMouthpiece LLC [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth and improvement in operating results, particularly in the Surgical segment [27] - The company anticipates a significant opportunity in the non-acute wound care market with the THP strategy and expects a commercial launch in mid-2025 [27] Other Important Information - The company reported a cash balance of $16.3 million at the end of the quarter [26] - R&D expenses for Q3 2024 were $1.4 million, up from $1 million in Q3 2023, with a portion allocated to the THP segment [22] Q&A Session Summary Question: Rationale for the investment in ChemoMouthpiece - The investment aligns with the company's wound and skin care strategy, addressing oral mucositis caused by chemotherapy [29][30] Question: Feedback on the pilot program with the podiatry group - The pilot program is on target, with early previews receiving positive feedback [34] Question: Operational personnel recruitment for THP - The company successfully attracted skilled personnel with execution experience, enhancing platform development efforts [35] Question: Outlook on OpEx for the remainder of the year and 2025 - The company has a clear budget and expects continued growth in adjusted EBITDA without surprises [37] Question: Update on work with Tufts regarding the 18 peptides - The technical team is progressing on solutions for radiation dermatitis, complementing the strategy with InfuSystem [39] Question: Types of partners sought for THP - The company is looking for financial and execution partners, focusing on those with experience in the provider community and supply chain [41][42] Question: Profitability expectations for THP upon launch - A ramp-up will be needed to achieve profitability in the THP segment [44] Question: Update on IP progress with Cellerate and BIASURGE - The company is making good progress on IP and is scaling BIASURGE product sales [45][46] Question: Market makers and share price concerns - Management is focused on growth and adjusted EBITDA progression, with plans to avoid highly dilutive events [52][54]

Core Insights - Sanara MedTech Inc. reported its twelfth consecutive record net revenue quarter, achieving a 35% year-over-year increase to $21.7 million for Q3 2024 [2][7] - The company experienced a net loss of $2.9 million in Q3 2024, compared to a net loss of $1.1 million in Q3 2023, primarily due to increased SG&A costs and interest expenses [3][9] - Adjusted EBITDA for Q3 2024 was $0.8 million, up from $0.3 million in Q3 2023, indicating improved operational performance [10] Financial Performance - Net revenue for Q3 2024 was $21.7 million, a 35% increase from $16.0 million in Q3 2023, driven by higher sales of soft tissue repair products and market expansion [7][8] - The company reported a gross profit of $19.7 million for Q3 2024, compared to $14.3 million in Q3 2023 [21] - Total operating expenses for Q3 2024 were $21.6 million, up from $15.2 million in Q3 2023, largely due to increased selling, general, and administrative expenses [21] Strategic Developments - Sanara has agreements with over 300 distributors and has expanded its potential seller base to over 2,900 since January 2024 [3] - The company’s products were sold in over 1,200 facilities across 34 states and the District of Columbia, with contracts or approvals in more than 4,000 hospitals as of September 30, 2024 [4] - Sanara CMP LLC invested $5 million for a 6.64% ownership in ChemoMouthpiece, LLC, aligning with its wound and skin care strategy [6] Market Position - The company continues to penetrate existing accounts while expanding into new territories, increasing the number of facilities selling its products from 600+ in Q3 2023 to 900+ in Q3 2024 [7] - Sanara's product portfolio includes advanced biologic products and surgical solutions, focusing on improving clinical outcomes and reducing healthcare costs [15][16] Leadership Changes - On October 4, 2024, Sanara appointed Mr. Keith Myers, former chairman and CEO of LHC Group, to its Board of Directors, enhancing its leadership team [5]

FORT WORTH, TX, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“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, chronic wound and skincare markets, today announced details for the release of its results for the quarter ended September 30, 2024. Sanara will issue ...

FORT WORTH, TX, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. -- Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara" or the "Company") (NASDAQ: SMTI), a medical technology company focused on improving clinical outcomes and reducing healthcare expenditures in the surgical, chronic wound and skincare markets announced today changes to its Board of Directors ("Board"). After a long tenure of service with the predecessor company and Sanara, Mr. James "Jim" Stuckert has resigned from his position a ...

Sanara MedTech Inc. (SMTI) , along with InfuSystem Inc., recently entered into an exclusive U.S. distribution agreement with ChemoMouthpiece, LLC. Sanara will execute the terms of the agreement with the help of SI Healthcare Technologies (SI Technologies), which is a 50/50 joint venture between SMTI and InfuSystem. ChemoMouthpiece owns and manufactures a clinically validated product named Chemo Mouthpiece — an oral cryotherapy device that brings relief to oral mucositis-affected patients. This device perfec ...

FORT WORTH, TX, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. ("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, chronic wound and skincare markets, announced today its strategic, operational and financial results for the quarter ended June 30, 2024. Ron Nixon, Sa ...

FORT WORTH, TX, July 30, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. ("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, chronic wound and skincare markets, today announced details for the release of its results for the quarter ended June 30, 2024. A live webcast of Sanar ...

About Sanara MedTech Inc. 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," "expects," "forecast," "guidance," "intends," "may," "plans," "possible," "potential," "predicts," "preliminary," "proje ...

Financial Data and Key Metrics Changes - The company generated net revenue of $18.5 million for Q1 2024, a 19% increase from $15.5 million in Q1 2023 [23] - The net loss for Q1 2024 was $1.8 million, compared to a net loss of $1.2 million in the same period of 2023 [25] - Cash on hand at the end of the quarter was $2.8 million [26] Business Line Data and Key Metrics Changes - Sales of soft tissue products increased from $12.9 million in Q1 2023 to $16.1 million in Q1 2024 [19] - Sales of bone fusion products slightly decreased from $2.6 million in Q1 2023 to $2.5 million in Q1 2024 [19] Market Data and Key Metrics Changes - Products were sold in over 1,082 facilities across 34 states and the District of Columbia as of Q1 2024 [19] - The company’s products were approved for sale in more than 3,000 facilities as of March 31, 2024 [19] Company Strategy and Development Direction - The company is focusing on expanding its surgical product offerings and exploring emerging opportunities for distribution of advanced wound care products [15][27] - A strategy for value-based care in wound care is being developed, with expectations for partnerships to be established by the end of 2024 [10][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the team’s strength and the company’s growth trajectory, emphasizing the importance of building infrastructure to support ongoing growth [3][27] - The company aims to achieve profitability while balancing investments in growth opportunities [48] Other Important Information - A new debt facility with CRG was announced, providing access to growth and acquisition capital without diluting equity [21] - SG&A expenses increased to $16.2 million in Q1 2024 from $13 million in Q1 2023, primarily due to higher direct sales and marketing expenses [24] Q&A Session Summary Question: Has the recent CEO transition disrupted sales momentum? - Management confirmed that there has been no disruption in sales momentum, stating that the team is stronger than ever [30] Question: Can you speak to profitability in relation to revenue changes? - Management acknowledged the challenges in achieving profitability while also investing in growth opportunities, indicating a focus on balancing these aspects [47][48] Question: Can you provide details on the increase in SG&A expenses? - Management explained that the increase in SG&A expenses is correlated with higher sales commissions and operational support costs, which are necessary for driving sales growth [52]