Sanara MedTech Q1 revenue record $18.5M; CEO Fleming resigns, Chairman Nixon takes over

Sanara MedTech Inc.

Net revenue $18.5M in Q1 2024, up 19% YoY; tenth consecutive record quarter.
Net loss $1.8M vs $1.2M loss in prior year; Adjusted EBITDA turned positive at $0.3M.
CEO Zachary Fleming resigned May 10, 2024; Board appointed Executive Chairman Ron Nixon as new CEO effective immediately.
Subsequent to quarter end, entered $55M non-dilutive term loan with CRG; received $15M at closing with option for additional $40M.
Appointed Jake Waldrop as COO and Tyler Palmer as Chief Corporate Development and Strategy Officer.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Ronald T. Nixon

Chief Executive Officer

SMTI · Sanara MedTech Inc.

Effective: 2024-05-12
Filed: May 13, 2024, 7:59 PM ET

On May 12, 2024, the Board appointed Ronald T. Nixon, the Company’s Executive Chairman, as the Chief Executive Officer of the Company, effective immediately.

Departed

Zachary B. Fleming

Chief Executive Officer

SMTI · Sanara MedTech Inc.

Effective: 2024-05-10
Successor: Ronald T. Nixon
Filed: May 13, 2024, 7:59 PM ET

On May 10, 2024 (the “Effective Date”), Zachary B. Fleming delivered notice to the Board of Directors of the Company (the “Board”) that he is resigning from his position as Chief Executive Officer of the Company, effective immediately.

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, 2024 results: revenue $18.5 million, net income net loss of $1.8 million.

Period: the quarter ended March 31, 2024
Revenue: $18.5 million
Net income: net loss of $1.8 million
Result: reported results

Exact text from the filing

resources as well as add to the executive team.” Strategic and Operational Highlights in the First Quarter 2024 ● In the first quarter of 2024, the Company generated a record $18.5 million in sales, representing a tenth consecutive record revenue quarter for the Company. ● For the three months ended March 31, 2024, the Company had a net loss of $1.8 million,

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald T. Nixon was appointed as Chief Executive Officer at Sanara MedTech Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On May 12, 2024, the Board appointed Ronald T. Nixon, the Company’s Executive Chairman, as the Chief Executive Officer of the Company, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Zachary B. Fleming departed as Chief Executive Officer at Sanara MedTech Inc..

Action: resigning
Role: Chief Executive Officer

Exact text from the filing

On May 10, 2024 (the “Effective Date”), Zachary B. Fleming delivered notice to the Board of Directors of the Company (the “Board”) that he is resigning from his position as Chief Executive Officer of the Company, effective immediately.

View on SEC.gov

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Sanara MedTech Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-018808

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