Sanara MedTech(US:SMTI)2025-03-25 13:15Financial Performance and Key Metrics - The company generated net revenue of $86.7 million for the full-year 2024, representing growth of 33% year-over-year [7] - Adjusted EBITDA for 2024 was $2.7 million, an increase of $2.6 million compared to 2023 [8] - As of December 31, 2024, the company had $15.9 million in cash and $24.5 million available for future borrowings [9] Business Segment Performance - In the Sanara Surgical segment, net revenue increased by 39% year-over-year to $76.1 million, while bone fusion products saw a 6% increase to $10.5 million [7] - The Tissue Health Plus segment continued to incur losses as investments were made in preparation for commercialization [8][9] - Fourth quarter net revenue for the Sanara Surgical segment was $23.5 million, a 56% increase year-over-year [15] Market Data and Key Metrics - The company expanded its distributor network to over 350 partners by year-end 2024, up from more than 250 in 2023 [18] - Products were sold in over 1,300 facilities by year-end 2024, an increase from over 1,000 in 2023 [21] Company Strategy and Industry Competition - The company is focused on empowering physicians to improve patient outcomes while reducing healthcare costs, aiming for long-term growth and shareholder value [12] - A strategic partnership with Biomimetic Innovations was announced, which includes exclusive rights to market innovative products in the U.S. [29] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to enhance sales coverage and market penetration in 2025 [12] - The company plans to launch its first pilot program in the Tissue Health Plus segment during the second quarter of 2025 [27] Other Important Information - The company submitted 11 provisional patent applications in 2024, covering innovations in antimicrobial technologies and hydrolyzed collagen [11] - The company amended the terms of its CRG term loan to provide more flexibility for future borrowings [44] Q&A Session Summary Question: What is the game plan for ChemoMouthpiece in 2025? - Management indicated that the ChemoMouthpiece is being introduced to the market, with health economics and clinical study results expected soon [50][51] Question: How will success be measured for the THP pilot launch? - Success will be measured by the integration with the pilot customer's systems and the standardization of clinical workflows [56] Question: What business development efforts are in place beyond the initial pilot? - Significant efforts have been made in commercial development, including creating a value-based pricing model and recruiting a sales team [66]