Sanara MedTech (SMTI)
Market Price (8/31/2026): $33.41 | Market Cap: $289.4 MilSector: Health Care | Industry: Health Care Equipment
Sanara MedTech (SMTI)
Market Price (8/31/2026): $33.41Market Cap: $289.4 MilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Diabetes Management, Show more. | Trading close to highsDist 52W High is -3.3% Weak multi-year price returns2Y Excs Rtn is -37%, 3Y Excs Rtn is -83% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% Key risksSMTI key risks include [1] its history of unprofitability and a significant debt load, Show more. |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Diabetes Management, Show more. |
| Trading close to highsDist 52W High is -3.3% |
| Weak multi-year price returns2Y Excs Rtn is -37%, 3Y Excs Rtn is -83% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% |
| Key risksSMTI key risks include [1] its history of unprofitability and a significant debt load, Show more. |
Qualitative Assessment
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Sanara MedTech (SMTI) stock has gained about 80% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance and Positive Outlook.
Sanara MedTech reported robust results for fiscal Q1 2026 (ended March 31, 2026), with net revenue increasing by 19% year-over-year to $27.8 million. Notably, the company achieved GAAP net income attributable to shareholders of $0.05 per diluted share, a significant improvement from a loss of $(0.41) in fiscal Q1 2025. Adjusted EBITDA also saw a substantial rise of 58% year-over-year to $4.3 million. This strong performance, driven by a 21% growth in soft tissue repair product sales, coupled with the reaffirmation of full-year 2026 net revenue guidance of $116 million to $121 million (representing 13% to 17% growth), boosted investor confidence and led to a 15.43% surge in premarket trading following the announcement.
2. Strategic Refocusing on Core Surgical Products and Market Access Enhancements.
The company's strategic decision to discontinue its Tissue Health Plus (THP) segment and refocus exclusively on its higher-margin surgical soft tissue repair and bone fusion products contributed to improved investor sentiment. This shift was complemented by key business highlights, including BIASURGE securing a Vizient Innovative Technology contract, which is expected to broaden hospital access under contracted terms. Additionally, a peer-reviewed study published during this period demonstrated that CellerateRX Surgical delivered cost savings and improved outcomes in high-risk spine cases, further validating the efficacy and market potential of Sanara MedTech's core product portfolio.
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Sanara MedTech (SMTI) stock has gained about 80% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance and Positive Outlook.
Sanara MedTech reported robust results for fiscal Q1 2026 (ended March 31, 2026), with net revenue increasing by 19% year-over-year to $27.8 million. Notably, the company achieved GAAP net income attributable to shareholders of $0.05 per diluted share, a significant improvement from a loss of $(0.41) in fiscal Q1 2025. Adjusted EBITDA also saw a substantial rise of 58% year-over-year to $4.3 million. This strong performance, driven by a 21% growth in soft tissue repair product sales, coupled with the reaffirmation of full-year 2026 net revenue guidance of $116 million to $121 million (representing 13% to 17% growth), boosted investor confidence and led to a 15.43% surge in premarket trading following the announcement.
2. Strategic Refocusing on Core Surgical Products and Market Access Enhancements.
The company's strategic decision to discontinue its Tissue Health Plus (THP) segment and refocus exclusively on its higher-margin surgical soft tissue repair and bone fusion products contributed to improved investor sentiment. This shift was complemented by key business highlights, including BIASURGE securing a Vizient Innovative Technology contract, which is expected to broaden hospital access under contracted terms. Additionally, a peer-reviewed study published during this period demonstrated that CellerateRX Surgical delivered cost savings and improved outcomes in high-risk spine cases, further validating the efficacy and market potential of Sanara MedTech's core product portfolio.
3. Announcement of Merger Agreement with MiMedx.
A significant catalyst for the stock's appreciation was the announcement of a transformational merger agreement in which Sanara MedTech is expected to be acquired by MiMedx. This agreement was announced subsequent to the close of fiscal Q2 2026 (which ended June 30, 2026), with news emerging in late July and early August 2026. The reported acquisition price of $35 per share acted as a strong upward driver, pushing Sanara MedTech's stock price towards this valuation, despite some analysts downgrading their ratings to "Hold" or "Reduce" with price targets around $35.00.
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Stock Movement Drivers
Fundamental Drivers
The 82.0% change in SMTI stock from 4/30/2026 to 8/30/2026 was primarily driven by a 71.0% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.99 | 34.57 | 82.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 103 | 110 | 6.5% |
| P/S Multiple | 1.6 | 2.7 | 71.0% |
| Shares Outstanding (Mil) | 9 | 9 | 0.0% |
| Cumulative Contribution | 82.0% |
Market Drivers
4/30/2026 to 8/30/2026| Return | Correlation | |
|---|---|---|
| SMTI | 82.0% | |
| Market (SPY) | 7.1% | -2.3% |
| Sector (XLV) | 17.2% | 27.6% |
Fundamental Drivers
The 57.1% change in SMTI stock from 1/31/2026 to 8/30/2026 was primarily driven by a 46.0% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.00 | 34.57 | 57.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 102 | 110 | 7.8% |
| P/S Multiple | 1.9 | 2.7 | 46.0% |
| Shares Outstanding (Mil) | 9 | 9 | -0.2% |
| Cumulative Contribution | 57.1% |
Market Drivers
1/31/2026 to 8/30/2026| Return | Correlation | |
|---|---|---|
| SMTI | 57.1% | |
| Market (SPY) | 11.5% | 10.9% |
| Sector (XLV) | 11.1% | 30.3% |
Fundamental Drivers
The 43.0% change in SMTI stock from 7/31/2025 to 8/30/2026 was primarily driven by a 20.6% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.17 | 34.57 | 43.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 92 | 110 | 19.9% |
| P/S Multiple | 2.3 | 2.7 | 20.6% |
| Shares Outstanding (Mil) | 9 | 9 | -1.1% |
| Cumulative Contribution | 43.0% |
Market Drivers
7/31/2025 to 8/30/2026| Return | Correlation | |
|---|---|---|
| SMTI | 43.0% | |
| Market (SPY) | 22.7% | 17.7% |
| Sector (XLV) | 32.9% | 21.5% |
Fundamental Drivers
The -17.4% change in SMTI stock from 7/31/2023 to 8/30/2026 was primarily driven by a -57.3% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.86 | 34.57 | -17.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 54 | 110 | 105.1% |
| P/S Multiple | 6.4 | 2.7 | -57.3% |
| Shares Outstanding (Mil) | 8 | 9 | -5.6% |
| Cumulative Contribution | -17.4% |
Market Drivers
7/31/2023 to 8/30/2026| Return | Correlation | |
|---|---|---|
| SMTI | -17.4% | |
| Market (SPY) | 74.0% | 34.9% |
| Sector (XLV) | 33.6% | 31.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SMTI Return | -41% | 54% | -10% | -19% | -30% | 48% | -31% |
| Peers Return | -4% | -46% | 74% | 12% | -9% | 3% | -6% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| SMTI Win Rate | 50% | 50% | 42% | 42% | 33% | 62% | |
| Peers Win Rate | 54% | 38% | 57% | 47% | 38% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SMTI Max Drawdown | -54% | -41% | -47% | -35% | -50% | -35% | |
| Peers Max Drawdown | -40% | -58% | -44% | -38% | -43% | -42% | |
| 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 8/28/2026 (YTD)
How Low Can It Go
| Event | SMTI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.5% | -18.8% |
| % Gain to Breakeven | 30.7% | 23.1% |
| Time to Breakeven | 153 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.0% | -6.7% |
| % Gain to Breakeven | 28.1% | 7.1% |
| Time to Breakeven | 21 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.5% | -24.5% |
| % Gain to Breakeven | 68.2% | 32.4% |
| Time to Breakeven | 111 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.8% | -33.7% |
| % Gain to Breakeven | 71.8% | 50.9% |
| Time to Breakeven | 215 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -20.0% | -0.2% |
| % Gain to Breakeven | 25.0% | 0.2% |
| Time to Breakeven | 24 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -40.5% | -17.9% |
| % Gain to Breakeven | 68.1% | 21.8% |
| Time to Breakeven | 64 days | 123 days |
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.
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Asset Allocation
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| Event | SMTI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.5% | -18.8% |
| % Gain to Breakeven | 30.7% | 23.1% |
| Time to Breakeven | 153 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.0% | -6.7% |
| % Gain to Breakeven | 28.1% | 7.1% |
| Time to Breakeven | 21 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.5% | -24.5% |
| % Gain to Breakeven | 68.2% | 32.4% |
| Time to Breakeven | 111 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.8% | -33.7% |
| % Gain to Breakeven | 71.8% | 50.9% |
| Time to Breakeven | 215 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -40.5% | -17.9% |
| % Gain to Breakeven | 68.1% | 21.8% |
| Time to Breakeven | 64 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -57.2% | -15.4% |
| % Gain to Breakeven | 133.8% | 18.2% |
| Time to Breakeven | 3208 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -46.8% | -53.4% |
| % Gain to Breakeven | 88.1% | 114.4% |
| Time to Breakeven | 77 days | 1085 days |
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. (SMTI) is a medical technology company specializing in the development, marketing, and distribution of advanced wound and skin care products. Operating within the United States, the company primarily serves healthcare providers, including physicians, hospitals, clinics, and post-acute care facilities, by providing innovative solutions designed to improve patient healing and manage complex wounds.
The company offers a diverse portfolio of products, central to which are its CellerateRX Surgical Activated Collagen powder and gel, utilized across various surgical specialties to aid healing. Sanara MedTech also provides the Biakōs line of antimicrobial products, including cleansers, wound gels, and irrigation solutions, specifically engineered to disrupt stubborn biofilms and eradicate microbes in wounds. Additionally, its HYCOL Hydrolyzed Collagen products are used for managing various types of full and partial thickness wounds, such as pressure, venous, arterial, and diabetic foot ulcers.
Further expanding its offerings in advanced wound care, Sanara MedTech develops extracellular matrix products like FORTIFY TRG and FORTIFY FLOWABLE, alongside VIM Amnion Matrix, a single-layer amnion tissue sheet. These specialized products underscore the company's commitment to providing comprehensive solutions for complex wound management, from initial cleansing to advanced biological healing support.
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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.
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- 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.
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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.
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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.
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- 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. - 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. - 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.
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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.
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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:
- 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.
- 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.
- 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.
- 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.
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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.
Peer Outperformance in Health Care Equipment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 11.3% | 87.6% | 129.3% | CAH 398% · MCK 348% · COR 178% |
| Managed Health Care | 8 | 29.5% | -0.6% | 2.9% | OSCR 95% · HQY 50% · ELV 13% |
| Health Care Services | 20 | 19.7% | 40.8% | 1.0% | HIMS 266% · RDNT 138% · DGX 75% |
| Health Care Facilities | 24 | 6.2% | -4.5% | -18.3% | THC 254% · NHC 246% · ENSG 114% |
| Health Care Equipment ← | 51 | -3.6% | -6.4% | -20.1% | POCI 10900% · UFPT 329% · GKOS 202% |
| Health Care Supplies | 12 | 32.6% | -15.8% | -36.7% | LNTH 282% · HAE 66% · MMSI 26% |
| Pharmaceuticals | 63 | -3.1% | 8.0% | -38.3% | LQDA 2435% · INDV 1218% · ETON 1034% |
| Life Sciences Tools & Services | 108 | 1.5% | -32.7% | -70.0% | SNWV 1808% · MEDP 229% · AXGN 202% |
| Health Care Technology | 21 | -25.9% | -57.7% | -75.1% | SPOK 79% · HSTM -2% · VEEV -17% |
| Biotechnology | 365 | 10.0% | -25.2% | -79.0% | BRTX 99450% · DNTH 1554% · CELZ 1529% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Sanara MedTech Earnings Notes | 12/16/2025 | |
| Can Sanara MedTech Stock Recover If Markets Fall? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 15.37 |
| Mkt Cap | 0.8 |
| Rev LTM | 518 |
| Op Inc LTM | 35 |
| FCF LTM | 31 |
| FCF 3Y Avg | 27 |
| CFO LTM | 66 |
| CFO 3Y Avg | 50 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.5% |
| Rev Chg 3Y Avg | 5.5% |
| Rev Chg Q | 2.3% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Inc Chg LTM | 35.5% |
| Op Inc Chg 3Y Avg | 79.2% |
| Op Mgn LTM | 6.7% |
| Op Mgn 3Y Avg | 4.8% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 10.0% |
| CFO/Rev 3Y Avg | 7.3% |
| FCF/Rev LTM | 8.1% |
| FCF/Rev 3Y Avg | 4.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Soft tissue repair products | 91 | 76 | 42 | ||
| Bone fusion products | 12 | 11 | 4 | ||
| Sanara Surgical | 65 | ||||
| Tissue Health Plus (THP) | 0 | ||||
| Royalty revenue | 0 | 0 | |||
| Product sales revenue | 24 | ||||
| Total | 103 | 87 | 65 | 46 | 24 |
| $ Mil | 2024 | 2023 |
|---|---|---|
| Sanara Surgical | -2 | 0 |
| Tissue Health Plus (THP) | -8 | -5 |
| Total | -10 | -4 |
Price Behavior
| Market Price | $34.57 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -3.3% | |
| 50 Days | 200 Days | |
| DMA Price | $28.70 | $22.90 |
| DMA Trend | up | up |
| Distance from DMA | 20.5% | 50.9% |
| 3M | 1YR | |
| Volatility | 54.0% | 60.8% |
| Downside Capture | -151.03 | 27.31 |
| Upside Capture | 59.04 | 24.44 |
| Correlation (SPY) | -1.6% | 15.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.12 | -0.02 | -0.11 | 0.47 | 0.92 | 1.31 |
| Up Beta | 5.81 | 2.35 | 1.79 | 1.41 | 2.27 | 1.59 |
| Down Beta | -4.71 | -0.34 | 0.51 | 0.25 | 0.94 | 1.10 |
| Up Capture | 254% | 73% | 59% | 68% | 46% | 115% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 13 | 24 | 35 | 62 | 116 | 338 |
| Down Capture | -365% | -223% | -320% | -42% | 35% | 107% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 8 | 17 | 26 | 61 | 133 | 406 |
[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 | 1.9% | 60.5% | 0.27 | - |
| Sector ETF (XLV) | 26.7% | 16.0% | 1.29 | 20.0% |
| Equity (SPY) | 20.1% | 12.8% | 1.16 | 15.6% |
| Gold (GLD) | 30.9% | 29.0% | 0.92 | -6.7% |
| Commodities (DBC) | 39.9% | 20.3% | 1.54 | -3.2% |
| Real Estate (VNQ) | 9.9% | 13.7% | 0.44 | 22.7% |
| Bitcoin (BTCUSD) | -30.1% | 43.7% | -0.70 | 11.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMTI | |
|---|---|---|---|---|
| SMTI | 2.4% | 56.2% | 0.26 | - |
| Sector ETF (XLV) | 6.3% | 15.1% | 0.23 | 29.3% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 34.8% |
| Gold (GLD) | 19.7% | 18.7% | 0.85 | 3.4% |
| Commodities (DBC) | 11.5% | 19.6% | 0.46 | 7.9% |
| Real Estate (VNQ) | 2.0% | 18.9% | 0.00 | 31.1% |
| Bitcoin (BTCUSD) | 9.6% | 52.7% | 0.37 | 17.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMTI | |
|---|---|---|---|---|
| SMTI | 68.1% | 2,364.7% | 0.41 | - |
| Sector ETF (XLV) | 10.5% | 16.7% | 0.51 | 0.5% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 1.6% |
| Gold (GLD) | 12.2% | 16.3% | 0.61 | 0.4% |
| Commodities (DBC) | 7.3% | 18.0% | 0.33 | 0.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 2.5% |
| Bitcoin (BTCUSD) | 63.4% | 66.1% | 1.03 | 2.3% |
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Returns Analyses
Earnings Returns History
Updated 8/20/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | -0.1% | -0.6% | |
| 5/11/2026 | 13.4% | 21.5% | 27.6% |
| 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% |
| 8/13/2025 | 16.2% | 12.3% | 28.4% |
| 5/14/2025 | -10.8% | -11.6% | -18.3% |
| 3/25/2025 | -12.6% | -13.5% | -15.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 10 | 10 |
| # Negative | 10 | 14 | 13 |
| Median Positive | 6.2% | 8.8% | 16.6% |
| Median Negative | -7.6% | -5.8% | -10.3% |
| Max Positive | 19.4% | 21.5% | 38.2% |
| Max Negative | -24.7% | -25.5% | -21.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | -0.1% | -0.6% | |
| 5/11/2026 | 13.4% | 21.5% | 27.6% |
| 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% |
| 8/13/2025 | 16.2% | 12.3% | 28.4% |
| 5/14/2025 | -10.8% | -11.6% | -18.3% |
| 3/25/2025 | -12.6% | -13.5% | -15.3% |
| 1/21/2025 | 10.9% | 10.7% | 3.9% |
| 11/12/2024 | 7.6% | 6.8% | 3.6% |
| 8/12/2024 | 15.1% | 17.6% | 20.4% |
| 5/13/2024 | -6.8% | -2.9% | -1.4% |
| 3/25/2024 | 1.4% | -2.9% | -10.3% |
| 11/13/2023 | 19.4% | 11.3% | 38.2% |
| 8/14/2023 | -9.7% | -12.5% | -20.1% |
| 5/15/2023 | -8.4% | -13.1% | -9.2% |
| 3/20/2023 | 0.5% | -2.5% | 18.7% |
| 11/14/2022 | 4.8% | 6.3% | 3.9% |
| 8/15/2022 | 2.3% | 0.1% | 14.6% |
| 5/16/2022 | 5.9% | 6.9% | -11.4% |
| 3/30/2022 | 6.4% | 4.6% | -7.5% |
| 11/15/2021 | 0.9% | -6.0% | -21.0% |
| 8/16/2021 | -1.5% | -0.0% | -8.1% |
| 1/25/2021 | 2.3% | -13.2% | -11.6% |
| SUMMARY STATS | |||
| # Positive | 14 | 10 | 10 |
| # Negative | 10 | 14 | 13 |
| Median Positive | 6.2% | 8.8% | 16.6% |
| Median Negative | -7.6% | -5.8% | -10.3% |
| Max Positive | 19.4% | 21.5% | 38.2% |
| Max Negative | -24.7% | -25.5% | -21.0% |
Recent Forward Guidance
Updated 8/12/2026Latest: Q2 2026 Earnings Reported 8/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 OsStic Market Introduction | |||||||
Prior: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 28.50 Mil | 29.00 Mil | 29.50 Mil | ||||
| Q2 2026 Revenue Growth | 10.0% | 12.0% | 14.0% | ||||
| 2026 Revenue | 116.00 Mil | 118.50 Mil | 121.00 Mil | 0 | Affirmed | Guidance: 118.50 Mil for 2026 | |
| 2026 Revenue Growth | 13.0% | 15.0% | 17.0% | 0 | Affirmed | Guidance: 15.0% for 2026 | |
| 2026 Research and Development | 0.05 | 0.06 | 0.07 | ||||
Q4 2025 Earnings Reported 1/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 116.00 Mil | 118.50 Mil | 121.00 Mil | ||||
| 2026 Revenue Growth | 13.0% | 15.0% | 17.0% | ||||
Q4 2025 Earnings Reported 1/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 116.00 Mil | 118.50 Mil | 121.00 Mil | ||||
| 2026 Revenue Growth | 13.0% | 15.0% | 17.0% | ||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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