Tearsheet

Sanara MedTech (SMTI)


Market Price (5/30/2026): $22.97 | Market Cap: $200.0 Mil
Sector: Health Care | Industry: Health Care Equipment

Sanara MedTech (SMTI)


Market Price (5/30/2026): $22.97
Market Cap: $200.0 Mil
Sector: Health Care
Industry: Health Care Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Diabetes Management, Show more.

Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -121%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 31x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21%

Key risks
SMTI key risks include [1] its history of unprofitability and a significant debt load, Show more.

0 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Diabetes Management, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -121%
2 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 31x
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21%
4 Key risks
SMTI key risks include [1] its history of unprofitability and a significant debt load, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 5/20/2026
Sanara MedTech (SMTI) stock has gained about 5% since 1/31/2026 because of the following key factors:

1. Significant Q1 2026 Earnings Beat and Return to Profitability.

Sanara MedTech reported robust financial performance for the first quarter of 2026, posting an earnings per share (EPS) of $0.05. This figure substantially exceeded analysts' consensus estimate of -$0.18 by 127.78%. The company also achieved GAAP net profitability with a net income of $0.4 million and reported a strong 19% year-over-year revenue growth for the quarter, largely driven by increased sales of soft tissue repair products. This positive earnings surprise led to a significant stock price increase of +13.43% on May 11, 2026, the day the results were reported.

2. Reaffirmed Positive Full-Year 2026 Financial Guidance.

Despite a Q4 2025 earnings miss, Sanara MedTech reaffirmed its full-year 2026 net revenue guidance, projecting between $116 million and $121 million. This reaffirmation, combined with the strong Q1 performance, signaled consistent growth prospects and management's confidence in the company's strategic direction.

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Stock Movement Drivers

Fundamental Drivers

The 3.6% change in SMTI stock from 1/31/2026 to 5/29/2026 was primarily driven by a 5.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120265292026Change
Stock Price ($)22.0022.793.6%
Change Contribution By: 
Total Revenues ($ Mil)1021085.5%
P/S Multiple1.91.8-1.1%
Shares Outstanding (Mil)99-0.7%
Cumulative Contribution3.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/29/2026
ReturnCorrelation
SMTI3.6% 
Market (SPY)9.6%19.7%
Sector (XLV)-3.0%40.6%

Fundamental Drivers

The -22.2% change in SMTI stock from 10/31/2025 to 5/29/2026 was primarily driven by a -28.9% change in the company's P/S Multiple.
(LTM values as of)103120255292026Change
Stock Price ($)29.3022.79-22.2%
Change Contribution By: 
Total Revenues ($ Mil)9710810.6%
P/S Multiple2.61.8-28.9%
Shares Outstanding (Mil)99-1.1%
Cumulative Contribution-22.2%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/29/2026
ReturnCorrelation
SMTI-22.2% 
Market (SPY)11.5%19.4%
Sector (XLV)4.5%19.5%

Fundamental Drivers

The -28.6% change in SMTI stock from 4/30/2025 to 5/29/2026 was primarily driven by a -41.3% change in the company's P/S Multiple.
(LTM values as of)43020255292026Change
Stock Price ($)31.9422.79-28.6%
Change Contribution By: 
Total Revenues ($ Mil)8710824.0%
P/S Multiple3.11.8-41.3%
Shares Outstanding (Mil)99-2.0%
Cumulative Contribution-28.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/29/2026
ReturnCorrelation
SMTI-28.6% 
Market (SPY)38.0%27.5%
Sector (XLV)8.3%27.6%

Fundamental Drivers

The -45.7% change in SMTI stock from 4/30/2023 to 5/29/2026 was primarily driven by a -75.2% change in the company's P/S Multiple.
(LTM values as of)43020235292026Change
Stock Price ($)41.9522.79-45.7%
Change Contribution By: 
Total Revenues ($ Mil)46108134.5%
P/S Multiple7.41.8-75.2%
Shares Outstanding (Mil)89-6.8%
Cumulative Contribution-45.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/29/2026
ReturnCorrelation
SMTI-45.7% 
Market (SPY)89.0%37.1%
Sector (XLV)17.7%32.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SMTI Return-41%54%-10%-19%-30%2%-52%
Peers Return-4%-46%74%12%-9%-11%-18%
S&P 500 Return27%-19%24%23%16%10%101%

Monthly Win Rates [3]
SMTI Win Rate50%50%42%42%33%40% 
Peers Win Rate54%38%57%47%38%44% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
SMTI Max Drawdown-54%-41%-47%-35%-50%-35% 
Peers Max Drawdown-40%-58%-44%-38%-43%-39% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IART, MDXG, ORGO, BVS, SYK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)

How Low Can It Go

EventSMTIS&P 500
2025 US Tariff Shock
  % Loss-23.5%-18.8%
  % Gain to Breakeven30.7%23.1%
  Time to Breakeven153 days79 days
2023 SVB Regional Banking Crisis
  % Loss-22.0%-6.7%
  % Gain to Breakeven28.1%7.1%
  Time to Breakeven21 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.5%-24.5%
  % Gain to Breakeven68.2%32.4%
  Time to Breakeven111 days427 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven215 days140 days
2013 Taper Tantrum
  % Loss-20.0%-0.2%
  % Gain to Breakeven25.0%0.2%
  Time to Breakeven24 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-40.5%-17.9%
  % Gain to Breakeven68.1%21.8%
  Time to Breakeven64 days123 days

Compare to IART, MDXG, ORGO, BVS, SYK

In The Past

Sanara MedTech's stock fell -23.5% during the 2025 US Tariff Shock. Such a loss loss requires a 30.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSMTIS&P 500
2025 US Tariff Shock
  % Loss-23.5%-18.8%
  % Gain to Breakeven30.7%23.1%
  Time to Breakeven153 days79 days
2023 SVB Regional Banking Crisis
  % Loss-22.0%-6.7%
  % Gain to Breakeven28.1%7.1%
  Time to Breakeven21 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.5%-24.5%
  % Gain to Breakeven68.2%32.4%
  Time to Breakeven111 days427 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven215 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-40.5%-17.9%
  % Gain to Breakeven68.1%21.8%
  Time to Breakeven64 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-57.2%-15.4%
  % Gain to Breakeven133.8%18.2%
  Time to Breakeven3208 days125 days
2008-2009 Global Financial Crisis
  % Loss-46.8%-53.4%
  % Gain to Breakeven88.1%114.4%
  Time to Breakeven77 days1085 days

Compare to IART, MDXG, ORGO, BVS, SYK

In The Past

Sanara MedTech's stock fell -23.5% during the 2025 US Tariff Shock. Such a loss loss requires a 30.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Sanara MedTech (SMTI)

Sanara MedTech Inc. develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. It offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution. The company also provides HYCOL Hydrolyzed Collagen Powder and Gel, a medical hydrolysate of Type I bovine collagen for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers. In addition, it develops FORTIFY TRG, a freeze-dried, multi-layer small intestinal submucosa extracellular matrix sheet; FORTIFY FLOWABLE extracellular matrix, an advanced wound care device; and VIM Amnion Matrix, a single layer sheet of amnion tissue. The company was formerly known as WNDM Medical Inc. and changed its name to Sanara MedTech Inc. in May 2019. Sanara MedTech Inc. was incorporated in 2001 and is based in Fort Worth, Texas.

AI Analysis | Feedback

Sanara MedTech is like a specialized, emerging Smith & Nephew focused exclusively on advanced wound and skin care products.

Think of Sanara MedTech as a standalone company doing what a dedicated division of 3M Healthcare might do, but solely concentrated on innovative wound and skin healing technologies.

AI Analysis | Feedback

  • CellerateRX Surgical Activated Collagen powder and gel: These products are used in various surgical specialties to help promote patient healing.
  • Biako¯s Antimicrobial Skin and Wound Cleanser: A patented product designed to disrupt extracellular polymeric substances and eradicate mature biofilm microbes.
  • Biako¯s Antimicrobial Wound Gel: An antimicrobial hydrogel wound dressing effective against planktonic microbes, as well as immature and mature biofilms.
  • Biako¯s Antimicrobial Skin and Wound Irrigation Solution: A solution used for irrigating skin and wounds, likely with antimicrobial properties similar to other Biakōs products.
  • HYCOL Hydrolyzed Collagen Powder and Gel: A medical hydrolysate of Type I bovine collagen used for managing various full and partial thickness wounds, including ulcers.
  • FORTIFY TRG: A freeze-dried, multi-layer small intestinal submucosa extracellular matrix sheet used for advanced wound care.
  • FORTIFY FLOWABLE extracellular matrix: An advanced wound care device provided in a flowable form.
  • VIM Amnion Matrix: A single layer sheet of amnion tissue used in wound management.

AI Analysis | Feedback

Sanara MedTech (SMTI) primarily sells its wound and skin care products to other companies and organizations within the healthcare sector, rather than directly to individuals. Based on the company description, its major customers are:

  • Physicians
  • Hospitals
  • Clinics
  • Post-acute care settings

The company description does not provide the names of specific customer companies (e.g., individual hospital systems or large clinic chains) nor their public symbols.

AI Analysis | Feedback

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AI Analysis | Feedback

Seth Yon, President and Chief Executive Officer

Seth Yon was appointed President and Chief Executive Officer of Sanara MedTech in September 2025. He joined the company in 2018 and has held various senior-level management positions, including President and Chief Commercial Officer. Prior to joining Sanara, Mr. Yon served as Vice President of Iroquois Industrial Group, where he guided multiple divisions in product offerings to the medical, educational, and automotive industries.

Elizabeth Taylor, Chief Financial Officer

Elizabeth Taylor was appointed Chief Financial Officer of Sanara MedTech, effective January 15, 2025. She brings over 25 years of financial experience, including previous roles as CFO of a medical device company (Imbed Biosciences) and COO of multiple hedge funds. Ms. Taylor also served as a member of the investment team at the private equity firm Thomas H. Lee Partners, L.P. She founded and managed Burnett Taylor Consulting, LLC, serving as an umbrella financial advisor.

Ron Nixon, Executive Chairman

Ron Nixon is the Executive Chairman of Sanara MedTech, a position he has held since May 2019. He previously served as the company's Chief Executive Officer until September 2025. Mr. Nixon is also the Founder and Managing Partner of The Catalyst Group, Inc., and serves on the board of directors for several other privately held companies.

Jake Waldrop, Chief Operating Officer

Jake Waldrop joined Sanara MedTech as Chief Operating Officer in April 2024. He has 20 years of experience in leading cross-functional teams in the technology and medical device industries. Before joining Sanara, he was the Chief Financial Officer for Trilliant Surgical, and following its sale to Enovis, he became the Vice President of Finance and Integrations for Enovis' Foot and Ankle division.

Nina Bionda, Chief R&D Officer

Nina Bionda was appointed Chief R&D Officer for Sanara MedTech in May 2025, leading the Research & Development team. She joined the company in September 2022 as the Vice President of Research & Development. Prior to Sanara, Ms. Bionda spent seven years at a preclinical Contract Research Organization (CRO) specializing in the comprehensive evaluation of medical devices.

AI Analysis | Feedback

Sanara MedTech (SMTI) faces several key business risks, primarily centered around its financial health, the successful development and commercialization of its product pipeline, and intense competition within the medical technology sector.
  1. Weak Financial Position and High Debt Load
    Sanara MedTech's financial health presents a significant risk, characterized by a weak balance sheet and a substantial long-term debt. As of Q3 2025, the company reported $45 million in long-term debt against $15 million in cash, with an associated high interest rate exceeding 13%. A notable concern is the "payment in kind" (PIK) interest, which causes the loan balance to increase over time, creating a compounding debt situation. The company has also experienced widening net losses, with a net loss of $9.9 million in 2024 and $5.5 million in the first half of 2025, despite revenue growth. This financial strain is exacerbated by past strategic missteps, such as the discontinuation of the Tissue Health Plus (THP) segment, which involved over $30 million in investments and resulted in significant cash burn and a loss of investor trust. The need to deleverage and refinance this high-interest debt is critical for the company's long-term stability and growth.
  2. Product Development, Regulatory Approval, and Commercialization Risks
    As a medical technology company, Sanara MedTech is highly exposed to risks associated with the development, regulatory approval, and successful commercialization of its new and existing products. There are inherent uncertainties in obtaining necessary regulatory clearances, such as the FDA's 510(k) clearance, for new medical devices and technologies like OsStic. The efficacy and adoption rates of these products in the market also represent significant risks, as successful commercialization depends heavily on market and customer acceptance, and the extent of product demand. Furthermore, the company faces risks related to "off-label" product promotion, which could lead to substantial monetary penalties, business license suspensions, product recalls, and other enforcement actions.
  3. Intense Competition and Market Acceptance Challenges
    Sanara MedTech operates in the highly competitive healthcare sector, specifically within the wound and skin care, and surgical products markets. The company faces competition from numerous established players and emerging technologies, which can lead to pricing pressures and challenges in gaining market share. Rapid technological advancements in the medical field pose a risk of making existing products obsolete. The company's growth relies on an expanding independent distribution network and dedicated clinical support, meaning any disruption to this network or a lack of adoption by healthcare providers could significantly impact its market penetration and revenue. Successfully fending off competitors and ensuring sustained market acceptance for its specialized products remain ongoing challenges for Sanara MedTech.

AI Analysis | Feedback

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AI Analysis | Feedback

Sanara MedTech Inc. (SMTI) operates in various segments of the wound and skin care market. The addressable markets for its main products and services, primarily within wound care, are substantial and are projected to grow.

Collagen Products (CellerateRX Surgical Activated Collagen, HYCOL Hydrolyzed Collagen Powder and Gel)

The global collagen dressing market was valued at approximately $1.29 billion in 2024 and is projected to reach $1.93 billion by 2030. More specifically, the global collagen-based wound dressings market was valued at $423 million in 2024 and is projected to grow to $676 million by 2032. North America is a significant region in this market, holding approximately 38% of the global collagen-based wound dressings market revenue in 2024. The broader North American medical collagen market was valued at $1,186.21 million in 2024 and is projected to reach $1,764.63 million by 2032.

Antimicrobial Products (Biako¯s Antimicrobial Skin and Wound Cleanser, Biako¯s Antimicrobial Wound Gel)

The global antimicrobial wound care dressings market is projected to grow from $3.1 billion in 2025 to $5 billion by 2035. Similarly, the global antimicrobial wound cleanser market was estimated at $560.21 million in 2025 and is predicted to reach approximately $869.99 million by 2035. North America is a dominant region in the antimicrobial wound care dressing market, accounting for approximately 45% of the global share. The North America wound cleanser products market held a share of 37.47% in 2024.

Extracellular Matrix (ECM) Products (FORTIFY TRG, FORTIFY FLOWABLE extracellular matrix)

The global extracellular matrix market is estimated to be valued at $44.2 million in 2025 and is expected to reach $74.8 million by 2032. North America is expected to be the largest market for extracellular matrix products, accounting for over 40.5% of the market share in 2025.

Amniotic Matrix Products (VIM Amnion Matrix)

The global amniotic membrane market size is estimated at $3.75 billion in 2026 and is forecast to reach $6.58 billion by 2031. Another estimate places the global amniotic membrane market at $3.60 billion in 2023, projected to reach $8.50 billion by 2030. North America contributed 41.85% of the revenue in the amniotic membrane market in 2025.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for Sanara MedTech (SMTI)

Sanara MedTech Inc. (SMTI) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives focused on its core surgical wound and skin care business:

  1. Increased Market Penetration and Geographic Expansion: The company aims to expand sales of its soft tissue repair products, including CellerateRX, by increasing market penetration within existing accounts and extending its reach into new geographic areas across the U.S. This strategy involves maximizing the use of its products in current facilities and expanding into additional surgical specialties beyond its traditional focus areas like ortho and spine, such as trauma, vascular, and general surgery.
  2. Expansion of the Independent Distribution Network: Sanara MedTech is actively growing its independent distribution network in both new and existing U.S. markets. This expansion is crucial for increasing access to healthcare providers and ultimately driving higher product sales.
  3. Introduction and Growth of New Products and Penetration of New Surgical Specialties: A significant driver of revenue growth will come from the introduction of new products and continued focus on recently launched ones. The company plans to introduce its OsStic Synthetic Injectable Structural Bio-Adhesive to the U.S. market. Additionally, the BIASURGE Advanced Surgical Solution, having secured an Innovative Technology contract from Vizient, Inc., is anticipated to gain broader access to Vizient's healthcare facility customers.
  4. Focused Strategy on the Core Surgical Business: Sanara MedTech has strategically decided to discontinue its Tissue Health Plus (THP) operations to concentrate resources on its highly profitable and growing Sanara Surgical segment. This streamlined focus on the surgical business, which includes soft tissue repair and bone fusion products, is expected to enhance overall revenue growth and profitability by leveraging its strong performance in this segment.

AI Analysis | Feedback

Share Issuance

  • In February 2021, Sanara MedTech Inc. completed an underwritten public offering of 1,265,000 shares of common stock at $25.00 per share, generating gross proceeds of $31.6 million.
  • The net proceeds from this offering were intended to expand the salesforce, further develop products, services, and technologies, support clinical studies, and for general corporate purposes, including working capital.

Inbound Investments

  • Sanara MedTech Inc. received $31.6 million in gross proceeds from a public offering of common stock in February 2021.

Outbound Investments

  • The company reported cash acquisitions of -$2.5 million in fiscal year 2023 and -$9.9 million in fiscal year 2022.
  • Investment activities were reported as -$12.66 million in the last 12 months, which provided weak support for R&D spending.

Capital Expenditures

  • Capital expenditures in the last 12 months amounted to -$4.62 million.
  • Sanara MedTech's cash flow statements indicate capital expenditures of -$0.5 million for fiscal year 2024, -$0.2 million for fiscal year 2023, and -$0.1 million for fiscal year 2022.
  • The company expects no material cash spend on its Tissue Health Plus (THP) segment after 2025, following the decision to discontinue THP operations and reallocate resources to its core surgical business.

Better Bets vs. Sanara MedTech (SMTI)

Latest Trefis Analyses

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Trade Ideas

Select ideas related to SMTI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GEHC_4302026_Dip_Buyer_FCFYield04302026GEHCGE HealthCare TechnologiesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.0%0.0%0.0%
IQV_4302026_Dip_Buyer_FCFYield04302026IQVIQVIADip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.0%0.0%0.0%
UHS_4302026_Dip_Buyer_FCFYield04302026UHSUniversal Health ServicesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.0%0.0%0.0%
ABT_4302026_Dip_Buyer_ValueBuy04302026ABTAbbott LaboratoriesDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.0%0.0%0.0%
ZBIO_4302026_Insider_Buying_45D_2Buy_200K04302026ZBIOZenas BioPharmaInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Mkt Price22.7916.043.682.578.51305.0912.27
Mkt Cap0.21.20.50.30.6116.80.6
Rev LTM1081,64538951357625,270544
Op Inc LTM845407605,12342
FCF LTM3-1066171014,57141
FCF 3Y Avg-18536423,66925
CFO LTM67171311035,37571
CFO 3Y Avg11015820454,37851

Growth & Margins

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Rev Chg LTM17.4%1.2%10.5%11.7%1.5%8.8%9.7%
Rev Chg 3Y Avg26.3%1.8%11.7%3.8%3.9%10.1%7.0%
Rev Chg Q18.6%2.4%-33.1%-58.2%6.6%2.6%2.5%
QoQ Delta Rev Chg LTM4.2%0.6%-7.0%-9.0%1.4%0.6%0.6%
Op Inc Chg LTM774.7%402.3%-27.1%37.9%167.0%12.3%102.4%
Op Inc Chg 3Y Avg306.4%82.7%319.7%-17.5%118.0%15.0%100.4%
Op Mgn LTM7.9%2.7%10.2%1.4%10.4%20.3%9.0%
Op Mgn 3Y Avg-0.8%2.8%13.6%1.8%6.1%19.9%4.5%
QoQ Delta Op Mgn LTM1.4%1.6%-5.1%-8.5%0.5%0.1%0.3%
CFO/Rev LTM5.9%4.3%18.1%6.0%17.9%21.3%11.9%
CFO/Rev 3Y Avg0.3%6.4%15.9%4.3%7.9%18.8%7.1%
FCF/Rev LTM3.1%-0.6%16.9%3.3%17.5%18.1%10.1%
FCF/Rev 3Y Avg-1.5%0.6%14.7%1.1%7.4%15.7%4.3%

Valuation

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Mkt Cap0.21.20.50.30.6116.80.6
P/S1.80.81.40.61.04.61.2
P/Op Inc23.527.513.845.99.522.823.1
P/EBIT37.1-2.813.445.910.122.317.8
P/E-5.9-2.517.8120.820.135.019.0
P/CFO31.417.37.710.75.621.714.0
Total Yield-16.9%-40.2%5.6%0.8%5.0%4.0%2.4%
Dividend Yield0.0%0.0%0.0%0.0%0.0%1.1%0.0%
FCF Yield 3Y Avg0.1%-0.2%6.5%2.1%7.1%2.7%2.4%
D/E0.21.70.00.20.50.10.2
Net D/E0.21.4-0.3-0.10.40.10.1

Returns

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
1M Rtn25.2%59.1%19.3%11.7%-12.0%-3.2%15.5%
3M Rtn11.5%40.9%-24.7%-19.9%-3.1%-21.0%-11.5%
6M Rtn8.9%22.3%-46.5%-50.4%12.1%-17.4%-4.2%
12M Rtn-22.2%26.5%-43.8%-9.8%29.7%-19.4%-14.6%
3Y Rtn-34.0%-58.1%-36.2%-32.4%192.4%15.7%-33.2%
1M Excs Rtn19.0%52.9%13.1%5.5%-18.2%-9.4%9.3%
3M Excs Rtn1.3%30.8%-34.9%-30.1%-13.3%-31.2%-21.7%
6M Excs Rtn-0.2%9.0%-59.1%-63.4%-2.8%-30.3%-16.5%
12M Excs Rtn-49.8%-2.4%-72.2%-39.2%1.6%-47.7%-43.5%
3Y Excs Rtn-120.7%-143.2%-120.4%-108.1%167.4%-68.3%-114.3%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Soft tissue repair products76 42  
Bone fusion products11 4  
Royalty revenue  000
Product sales revenue   2415
Total87 462416


Price Behavior

Price Behavior
Market Price$22.79 
Market Cap ($ Bil)0.2 
First Trading Date02/23/2007 
Distance from 52W High-36.3% 
   50 Days200 Days
DMA Price$19.46$24.23
DMA Trenddownup
Distance from DMA17.1%-5.9%
 3M1YR
Volatility64.0%61.2%
Downside Capture79.02120.20
Upside Capture89.7952.84
Correlation (SPY)20.5%25.4%
SMTI Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.570.960.871.041.401.39
Up Beta0.691.111.132.182.391.51
Down Beta4.03-0.90-0.001.311.141.18
Up Capture157%93%65%-9%39%121%
Bmk +ve Days15223166141428
Stock +ve Days9172754107335
Down Capture844%171%131%105%136%111%
Bmk -ve Days4183056108321
Stock -ve Days13263670143411

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SMTI
SMTI-19.1%61.2%-0.11-
Sector ETF (XLV)15.8%14.6%0.7826.7%
Equity (SPY)30.3%11.8%1.9425.2%
Gold (GLD)37.5%26.7%1.17-7.2%
Commodities (DBC)39.6%18.8%1.63-4.3%
Real Estate (VNQ)12.5%13.1%0.6426.2%
Bitcoin (BTCUSD)-31.8%41.6%-0.8119.1%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SMTI
SMTI-2.7%56.6%0.17-
Sector ETF (XLV)5.4%14.7%0.1928.7%
Equity (SPY)14.3%17.0%0.6635.8%
Gold (GLD)18.8%18.0%0.853.8%
Commodities (DBC)10.2%19.4%0.418.9%
Real Estate (VNQ)3.4%18.8%0.0830.3%
Bitcoin (BTCUSD)14.6%54.6%0.4617.2%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SMTI
SMTI61.2%2,412.2%0.42-
Sector ETF (XLV)9.9%16.5%0.490.5%
Equity (SPY)15.9%17.9%0.761.6%
Gold (GLD)13.3%16.0%0.690.5%
Commodities (DBC)7.3%17.9%0.330.4%
Real Estate (VNQ)5.7%20.7%0.242.5%
Bitcoin (BTCUSD)67.0%66.9%1.062.4%

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Short Interest

Short Interest: As Of Date5152026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 430202611.3%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest4.6 days
Basic Shares Quantity8.7 Mil
Short % of Basic Shares3.1%

Earnings Returns History

Updated 5/29/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/11/202613.4%21.5% 
3/24/2026-1.4%-5.7%8.8%
1/23/2026-2.2%-5.3%-6.9%
11/12/2025-24.7%-25.5%-7.6%
8/13/202516.2%12.3%28.4%
5/14/2025-10.8%-11.6%-18.3%
3/25/2025-12.6%-13.5%-15.3%
1/21/202510.9%10.7%3.9%
...
SUMMARY STATS   
# Positive151110
# Negative91313
Median Positive5.9%6.9%11.7%
Median Negative-8.4%-6.0%-10.3%
Max Positive19.4%21.5%38.2%
Max Negative-24.7%-25.5%-21.0%

Recent Forward Guidance

Updated 5/28/2026

Latest: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue28.50 Mil29.00 Mil29.50 Mil   
Q2 2026 Revenue Growth10.0%12.0%14.0%   
2026 Revenue116.00 Mil118.50 Mil121.00 Mil0 AffirmedGuidance: 118.50 Mil for 2026
2026 Revenue Growth13.0%15.0%17.0%00AffirmedGuidance: 15.0% for 2026
2026 Research and Development0.050.060.07   

Prior: Q4 2025 Earnings Reported 1/23/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue116.00 Mil118.50 Mil121.00 Mil  Higher New
2026 Revenue Growth13.0%15.0%17.0%  Higher New
Core Cache Last Updated: 5/29/2026