Sanara MedTech Q2 revenue up 63% to $15.8M; acquires collagen assets to cut royalties

Sanara MedTech Inc.

2023-Q2 EPS reported -$0.37 revenue$31,275,081

Q2 2023 net revenues $15.8M (+63% YoY); net loss $1.9M vs net income $0.8M in prior year.
Completed post-quarter acquisition of collagen-related assets including CellerateRX Surgical and HYCOL.
Annual royalties on collagen products were $1.8M in 2022; acquisition expected to eliminate those payments.
Products sold in over 950 facilities and contracted in 3,000+ hospitals/ASCs as of June 30.
Loss before income taxes improved to $1.9M from $3.4M in Q2 2022 due to slower expense growth.

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 three months ended June 30, 2022 results: revenue $9.7 million, net income net income of $0.8 million.

Period: the three months ended June 30, 2022
Revenue: $9.7 million
Net income: net income of $0.8 million
Result: reported results

Exact text from the filing

wound care uses and five trademarks. Sales Analysis The Company generated net revenues of $15.8 million for the three months ended June 30, 2023, compared to net revenues of $9.7 million for the three months ended June 30, 2022, a 63% increase from the prior year period. The higher net revenues for the three months ended June 30, 2023 were primarily due to

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sanara MedTech Inc. reported the quarter ended June 30, 2023 results: revenue $15.8 million, net income net loss of $1.9 million.

Period: the quarter ended June 30, 2023
Revenue: $15.8 million
Net income: net loss of $1.9 million
Result: reported results

Exact text from the filing

The Company generated net revenues of $15.8 million for the three months ended June 30, 2023

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Sanara MedTech Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-028632

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