Sanara MedTech Q1 revenue $15.5M, up 99% YoY; net loss narrows to $1.2M

Sanara MedTech Inc.

2024-Q1 EPS reported -$0.14 revenue$15,521,917

Net revenues $15.5M (99% YoY increase); net loss $1.2M vs $3.2M prior year.
Gross margin 86% vs 90% prior year due to lower margins on Scendia products.
SG&A $13.0M (up $3.6M) driven by higher sales commissions and sales force expansion.
Scendia sales flat at $3.0M; ALLOCYTE supply issues persist, expected resolution H2 2023.
Received 510(k) clearance for BIASURGE Advanced Surgical Solution; preparing launch late 2023.

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 0.9

Sanara MedTech Inc. reported the quarter ended March 31, 2023 results: revenue $15.5 million, net income net loss of $1.2 million.

Period: the quarter ended March 31, 2023
Revenue: $15.5 million
Net income: net loss of $1.2 million
Result: reported results

Exact text from the filing

clearance for BIASURGETM. First Quarter 2023 Consolidated Financial Results (Unaudited) ● Net Revenues. For the three months ended March 31, 2023, we generated net revenues of $15.5 million compared to net revenues of $7.8 million for the three months ended March 31, 2022, a 99% increase from the prior year period. Our net revenues for the three months ended March

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Source: SEC EDGAR

accession 0001493152-23-017398

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