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Sanara MedTech Inc. Reports Second Quarter 2025 Financial Results (Unaudited)
Globenewswire· 2025-08-13 11:00
Core Insights - Sanara MedTech Inc. reported a 28% year-over-year increase in net revenue for Q2 2025, reaching $25.8 million, driven by strong sales in its Sanara Surgical segment [5][8] - The company is evaluating strategic alternatives for its subsidiary, Tissue Health Plus, LLC, to maximize shareholder value while continuing to invest in its technology platform [4][12] Financial Performance - Q2 2025 net revenue increased to $25.8 million from $20.2 million in Q2 2024, a growth of $5.7 million or 28% [5][8] - For the first six months of 2025, net revenue rose 27% year-over-year to $49.3 million, compared to $38.7 million in the same period of 2024 [15] - The company reported a net loss of $2.0 million in Q2 2025, an improvement from a net loss of $3.5 million in Q2 2024 [12][16] - Adjusted EBITDA for Q2 2025 was $2.7 million, compared to $0.6 million in Q2 2024 [13] Segment Performance - The Sanara Surgical segment achieved a net income of $0.5 million in Q2 2025, a significant improvement from a net loss of $2.2 million in Q2 2024 [12] - The Tissue Health Plus segment reported a net loss of $2.5 million in Q2 2025, compared to a net loss of $1.3 million in Q2 2024 [12] - For the first six months of 2025, the Sanara Surgical segment generated Segment Adjusted EBITDA of $7.4 million, up from $2.5 million in the same period of 2024 [17] Revenue Breakdown - Sales of soft tissue repair products contributed $22.7 million in Q2 2025, up from $17.6 million in Q2 2024, marking a 28% increase [7][8] - Bone fusion products sales increased to $3.1 million in Q2 2025, a 25% rise from $2.5 million in Q2 2024 [7][8] Operating Expenses - Operating expenses for Q2 2025 were $23.9 million, an increase of 14% from $21.0 million in Q2 2024, primarily due to higher selling, general, and administrative expenses [10] - The gross profit for Q2 2025 was $23.9 million, reflecting a gross margin of 93%, up from 90% in Q2 2024 [9] Cash Flow and Debt - Cash flow from operating activities in Q2 2025 was $2.7 million, compared to cash used in operating activities of $1.4 million in Q2 2024 [14] - As of June 30, 2025, the company had $17.0 million in cash and $44.2 million in long-term debt, compared to $15.9 million and $30.7 million, respectively, at the end of 2024 [14]