Sanara MedTech Q3 revenues surge 124% to $13M; net loss narrows to $1.5M

Sanara MedTech Inc.

2023-Q3 EPS reported -$0.49 revenue$30,526,572

Q3 revenue $13.0M (up 124% YoY); nine-month revenue $30.5M (up 78%); includes $3.0M from Scendia acquisition.
Gross margin 87% for nine months, down from 91% due to lower margins on Scendia products.
SG&A $12.1M (+75%); R&D $1.1M (vs $0.04M a year ago) driven by Precision Healing and new development projects.
Net loss improved to $1.5M from $2.0M on $1.7M non-cash tax benefit; nine-month net loss $3.9M vs $4.4M.
Operational: record monthly revenue >$4M; post-quarter partnership with InfuSystem; FDA 510(k) submission for BIASURGE.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sanara MedTech Inc. reported the quarter ended September 30, 2022 results: revenue $13.0 million.

Period: the quarter ended September 30, 2022
Revenue: $13.0 million
Result: reported results

Exact text from the filing

For the three months ended September 30, 2022, the Company generated net revenues of $13.0 million compared to net revenues of $5.8 million for the three months ended September 30, 2021 representing a 124% increase from the prior year period.

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Source: SEC EDGAR

accession 0001493152-22-032145

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