Sanara MedTech Inc. Reports Fourth Quarter and Full Year 2024 Financial Results (Unaudited)

Core Insights - Sanara MedTech Inc. reported a significant increase in net revenue for Q4 2024, rising 49% year-over-year to $26.3 million, driven primarily by strong sales in the soft tissue repair segment [7][10][19] - For the full year 2024, net revenue increased by 33$86.7 million compared to $65.0 million in 2023 [19][20] - The company experienced a net loss of$1.7 million in Q4 2024, compared to a net loss of $0.3 million in Q4 2023, and a full-year net loss of$9.9 million, up from $4.4 million in 2023 [16][20] Financial Performance - Q4 2024 net revenue was$26.3 million, an increase of $8.6 million or 49$86.7 million, a $21.7 million increase or 33$24.1 million, a 51% increase year-over-year, with a gross margin of 91% [12][13] Operational Highlights - The company appointed Keith Myers to its Board and expanded its executive leadership team with new appointments [5] - Sanara entered into an exclusive license and distribution agreement with Biomimetic Innovations Ltd for a synthetic injectable bone void filler [5] - The R&D team submitted 11 provisional patent applications in 2024, focusing on antimicrobial technologies and hydrolyzed collagen [6] Segment Performance - The Sanara Surgical segment generated a net income of $0.9 million in Q4 2024, compared to a net loss of$0.7 million in Q4 2023 [16] - The Tissue Health Plus segment reported a net loss of $2.6 million in Q4 2024, an increase in loss from$0.5 million in Q4 2023, primarily due to higher SG&A and R&D expenses [16] Future Outlook - The company plans to invest between $7.5 million to$10 million in the Tissue Health Plus segment in the first half of 2025, preparing for a pilot program launch [8] - Management remains focused on driving revenue growth and improving profitability in the Sanara Surgical segment while continuing to invest in the Tissue Health Plus segment [8]