Short answer
Sanara MedTech Inc. (SMTI) filed its fiscal 2024 10-K annual report with the SEC on Mar 25, 2025. It reported revenue of $87M (+33.4% year over year) and net income of −$10M.
- Top risk flagged: Regulatory risk: FDA 510(k) clearance required for products like BIASURGE and Chemo Mouthpiece, impacting go-to-market timing
FY2024 key financial metrics · XBRL
- Revenue
- $87M
- +33.4% YoY
- Net income
- −$10M
- −124.6% YoY
- Operating margin
- -7.7%
- −1.3 pp YoY
- Gross margin
- 90.6%
- +2.7 pp YoY
- EPS (diluted)
- −$1.14
- −119.2% YoY
- ROE
- -24.5%
- −14.9 pp YoY
- Operating cash flow
- −$23,784
- +99.3% YoY
Source: XBRL data from the Sanara MedTech Inc. (SMTI) FY2024 10-K on SEC EDGAR. USD.
Sanara MedTech Inc. FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Developer and marketer of surgical, chronic wound, and skincare technologies with value-based care services
- New emphasis on Tissue Health Plus segment launching first pilot in Q2 2025 for value-based wound care targeting Medicare Advantage payers
- Strategic shift from one to two reportable segments reflecting growing focus on value-based wound care programs
- First sales of new surgical product BIASURGE commenced November 2023, expanding surgical irrigation offerings
- Exclusive December 2023 Tufts license for 18 collagen peptides, forming subsidiary Sanara Collagen Peptides with royalty payments to Tufts
Management Discussion & Analysis
- Revenue and profit figures not disclosed in MD&A section
- Forward-looking statements present, but no specific guidance or emerging risks detailed
Risk Factors
- Regulatory risk: FDA 510(k) clearance required for products like BIASURGE and Chemo Mouthpiece, impacting go-to-market timing
- Macroeconomic risk: Medicare Advantage payers targeted by Tissue Health Plus segment, exposed to changes in US healthcare reimbursement policies
- Operational risk: Reliance on third-party network of providers for Tissue Health Plus wound care programs creates delivery execution vulnerability
- Competitive risk: Competition for surgical wound care with established firms marketing collagen and bone fusion tech including proprietary hydrolyzed collagen products
- Financial risk: $55 million senior secured CRG Term Loan with borrowings of $30.5 million as of 2025, increasing leverage and interest obligations
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