Sanara MedTech (SMTI)


Market Price (10/16/2026): $35.09 | Market Cap: $304.0 MilSector: Health Care | Industry: Health Care Equipment

Sanara MedTech (SMTI)


Market Price (10/16/2026): $35.09
Market Cap: $304.0 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.

Trading close to highs
Dist 52W High is -0.5%

Weak multi-year price returns
2Y Excs Rtn is -22%, 3Y Excs Rtn is -64%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 44x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 99%

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 -14%

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 Trading close to highs
Dist 52W High is -0.5%
2 Weak multi-year price returns
2Y Excs Rtn is -22%, 3Y Excs Rtn is -64%
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 44x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x
4 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 99%
5 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 -14%
6 Key risks
SMTI key risks include [1] its history of unprofitability and a significant debt load, Show more.

SMTI in ETFs

Weight = SMTI's share of each fund

VTI0.00%
IWM0.01%
IWO0.01%
VTWO0.00%
DFAS0.00%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Sanara MedTech (SMTI) stock has gained about 50% since 6/30/2026 because of the following key factors:

1. Proposed Acquisition by MIMEDX. The announcement on July 29, 2026, of MIMEDX's intent to acquire Sanara MedTech served as a significant catalyst, leading to a substantial increase in SMTI's stock price. The stock experienced a 12.60% price increase on the day of the acquisition news. Ongoing shareholder alerts regarding the adequacy of the sale price in August and September 2026 further indicate the continued market relevance of this potential transaction.

2. Positive Fiscal Q2 2026 Earnings Surprise. Sanara MedTech reported its fiscal Q2 2026 financial results on August 11, 2026, with earnings of $0.05 per share. This figure represented a 150.00% positive surprise against the Zacks Consensus Estimate of $0.02 per share, contributing to investor confidence despite a slight miss on revenue expectations.

Show more
Updated on 10/1/2026

Sanara MedTech (SMTI) stock has gained about 50% since 6/30/2026 because of the following key factors:

1. Proposed Acquisition by MIMEDX. The announcement on July 29, 2026, of MIMEDX's intent to acquire Sanara MedTech served as a significant catalyst, leading to a substantial increase in SMTI's stock price. The stock experienced a 12.60% price increase on the day of the acquisition news. Ongoing shareholder alerts regarding the adequacy of the sale price in August and September 2026 further indicate the continued market relevance of this potential transaction.

2. Positive Fiscal Q2 2026 Earnings Surprise. Sanara MedTech reported its fiscal Q2 2026 financial results on August 11, 2026, with earnings of $0.05 per share. This figure represented a 150.00% positive surprise against the Zacks Consensus Estimate of $0.02 per share, contributing to investor confidence despite a slight miss on revenue expectations.

3. Ongoing Strategic Product Portfolio Expansion. The company continued to advance its product portfolio through strategic collaborations, notably highlighted by a license agreement with Rochal for antimicrobial solutions. A September 2026 analysis underscored this development as critical for addressing rising healthcare challenges and enhancing Sanara MedTech's reputation among healthcare providers, reinforcing its market position and growth prospects.

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Stock Movement Drivers

Fundamental Drivers

The 48.7% change in SMTI stock from 6/30/2026 to 10/15/2026 was primarily driven by a 44.9% change in the company's P/S Multiple.
(LTM values as of)630202610152026Change
Stock Price ($)23.5935.0948.7%
Change Contribution By: 
Total Revenues ($ Mil)1071102.2%
P/S Multiple1.92.844.9%
Shares Outstanding (Mil)990.5%
Cumulative Contribution48.7%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/15/2026
ReturnCorrelation
SMTI48.7% 
Market (SPY)3.4%-2.8%
Sector (XLV)11.7%2.4%

Fundamental Drivers

The 104.2% change in SMTI stock from 3/31/2026 to 10/15/2026 was primarily driven by a 91.8% change in the company's P/S Multiple.
(LTM values as of)331202610152026Change
Stock Price ($)17.1835.09104.2%
Change Contribution By: 
Total Revenues ($ Mil)1031106.5%
P/S Multiple1.42.891.8%
Shares Outstanding (Mil)990.0%
Cumulative Contribution104.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/15/2026
ReturnCorrelation
SMTI104.2% 
Market (SPY)19.0%8.6%
Sector (XLV)21.4%26.9%

Fundamental Drivers

The 10.6% change in SMTI stock from 9/30/2025 to 10/15/2026 was primarily driven by a 13.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510152026Change
Stock Price ($)31.7335.0910.6%
Change Contribution By: 
Total Revenues ($ Mil)9711013.0%
P/S Multiple2.82.8-1.5%
Shares Outstanding (Mil)99-0.6%
Cumulative Contribution10.6%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/15/2026
ReturnCorrelation
SMTI10.6% 
Market (SPY)16.8%14.6%
Sector (XLV)29.0%17.7%

Fundamental Drivers

The 12.7% change in SMTI stock from 9/30/2023 to 10/15/2026 was primarily driven by a 84.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310152026Change
Stock Price ($)31.1335.0912.7%
Change Contribution By: 
Total Revenues ($ Mil)6011084.1%
P/S Multiple4.32.8-35.5%
Shares Outstanding (Mil)89-5.0%
Cumulative Contribution12.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/15/2026
ReturnCorrelation
SMTI12.7% 
Market (SPY)86.7%35.3%
Sector (XLV)44.1%30.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SMTI Return-41%54%-10%-19%-30%50%-30%
Peers Return-4%-46%74%12%-9%-8%-16%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
SMTI Win Rate50%50%42%42%33%60% 
Peers Win Rate54%38%57%47%38%48% 
S&P 500 Win Rate75%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%-45% 
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 10/15/2026 (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. (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.

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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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.

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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:

  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.

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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.

Better Bets vs. Sanara MedTech (SMTI)

Peer Outperformance in Health Care Equipment

SMTI has outperformed 73% of its 49 Health Care Equipment peers over 5Y. Health Care Equipment ranks 5th of 10 industries in Health Care by median 5Y return.
Share of Health Care Equipment constituents that SMTI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
69%
of 54 industry peers · 17.4% return
3Y
62%
of 53 industry peers · 22.0% return
5Y
73%
of 49 industry peers · 6.4% return
No Health Care Equipment peer with a comparable growth profile has beaten SMTI by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Equipment is SMTI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 16.3%52.8%104.0% CAH 479% · MCK 401% · COR 196%
Health Care Services 20 20.2%39.3%14.5% HIMS 232% · RDNT 145% · DGX 85%
Managed Health Care 8 45.5%-1.8%5.4% OSCR 117% · HQY 46% · ELV 17%
Health Care Facilities 24 3.1%17.0%4.6% THC 333% · NHC 288% · ENSG 147%
Health Care Equipment ← 50 -2.1%3.1%-13.1% UFPT 366% · GKOS 269% · TMDX 184%
Pharmaceuticals 61 -13.2%-1.4%-31.7% LQDA 961% · KNSA 589% · CORT 466%
Health Care Supplies 12 25.3%-5.0%-34.3% LNTH 330% · HAE 73% · MMSI 29%
Life Sciences Tools & Services 109 -17.2%-10.2%-66.7% NTRA 265% · MEDP 230% · GH 60%
Biotechnology 363 -27.2%-29.9%-81.8% DNTH 1011% · ELVN 973% · ADMA 875%
Health Care Technology 22 -33.2%-63.0%-83.5% VEEV -4% · DOCS -57%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Mkt Price35.0913.524.681.1013.81293.0113.67
Mkt Cap0.31.00.70.10.9112.40.8
Rev LTM1101,64835545558225,837518
Op Inc LTM10669-34615,61535
FCF LTM5124121944,70231
FCF 3Y Avg0847-6463,84327
CFO LTM6854632975,52566
CFO 3Y Avg299527484,56950

Growth & Margins

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Rev Chg LTM13.0%1.6%-2.4%5.9%3.1%8.5%4.5%
Rev Chg 3Y Avg22.9%2.2%6.6%-0.1%4.5%9.9%5.5%
Rev Chg Q9.0%0.8%-34.7%-57.5%3.8%9.4%2.3%
QoQ Delta Rev Chg LTM2.2%0.2%-8.8%-11.3%1.0%2.2%0.6%
Op Inc Chg LTM61.5%514.3%-79.8%-135.0%50.5%20.4%35.5%
Op Inc Chg 3Y Avg85.3%122.0%73.0%-128.3%151.7%16.4%79.2%
Op Mgn LTM9.3%4.0%2.5%-7.5%10.4%21.7%6.7%
Op Mgn 3Y Avg1.5%2.9%11.0%-2.8%6.6%20.4%4.8%
QoQ Delta Op Mgn LTM-0.9%1.2%-7.7%-8.9%-0.0%1.5%-0.5%
CFO/Rev LTM5.2%5.2%13.0%7.0%16.6%21.4%10.0%
CFO/Rev 3Y Avg1.7%6.2%14.6%1.4%8.4%19.1%7.3%
FCF/Rev LTM4.1%0.7%11.5%4.6%16.2%18.2%8.1%
FCF/Rev 3Y Avg-0.1%0.5%13.4%-1.4%7.9%16.1%4.2%

Valuation

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
Mkt Cap0.31.00.70.10.9112.40.8
P/S2.80.61.90.31.64.31.8
P/Op Inc29.615.979.1-4.215.520.018.0
P/EBIT43.611.470.1-4.216.019.417.7
P/E-9.5-144.3111.0-1.717.230.17.8
P/CFO53.412.215.04.49.720.313.6
Total Yield-10.5%-0.7%0.9%-57.4%5.9%4.5%0.1%
Dividend Yield0.0%0.0%0.0%0.0%0.0%1.2%0.0%
FCF Yield 3Y Avg0.3%-0.5%5.9%-0.3%6.3%2.9%1.6%
D/E0.22.00.00.50.30.10.2
Net D/E0.11.7-0.20.10.20.10.1

Returns

SMTIIARTMDXGORGOBVSSYKMedian
NameSanara M.Integra .MiMedx Organoge.BioventusStryker  
1M Rtn-0.1%-13.8%-0.7%-24.3%6.2%4.4%-0.4%
3M Rtn38.6%-31.9%5.8%-58.6%11.1%-11.3%-2.7%
6M Rtn77.4%24.7%36.6%-56.7%32.7%-12.9%28.7%
12M Rtn17.4%-5.0%-30.2%-72.9%99.3%-19.9%-12.4%
3Y Rtn22.0%-64.8%-27.5%-53.8%372.9%14.3%-6.6%
1M Excs Rtn-3.4%-19.2%-4.3%-23.8%1.2%-0.2%-3.9%
3M Excs Rtn35.7%-34.4%4.3%-62.4%9.7%-12.8%-4.3%
6M Excs Rtn66.5%13.9%25.7%-67.2%21.5%-23.8%17.7%
12M Excs Rtn-0.4%-23.6%-46.3%-89.3%88.8%-37.4%-30.5%
3Y Excs Rtn-63.6%-144.0%-112.1%-136.3%219.3%-69.1%-90.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Soft tissue repair products9176 42 
Bone fusion products1211 4 
Sanara Surgical  65  
Tissue Health Plus (THP)  0  
Royalty revenue   00
Product sales revenue    24
Total10387654624


Net Income by Segment
$ Mil20242023
Sanara Surgical-20
Tissue Health Plus (THP)-8-5
Total-10-4


Price Behavior

Price Behavior
Market Price$35.09 
Market Cap ($ Bil)0.3 
First Trading Date02/23/2007 
Distance from 52W High-0.5% 
   50 Days200 Days
DMA Price$34.78$24.99
DMA Trendupup
Distance from DMA0.9%40.4%
 3M1YR
Volatility37.4%58.0%
Downside Capture-114.191.48
Upside Capture100.1919.99
Correlation (S&P 500)-0.3%12.4%
SMTI Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.12-0.03-0.100.350.671.31
Up Beta0.16-0.031.761.571.861.58
Down Beta0.310.22-3.40-0.331.011.10
Up Capture-12%6%89%84%10%134%
Bmk +ve Days6162766132424
Stock +ve Days11223566119344
Down Capture-38%-31%-176%-139%6%107%
Bmk -ve Days16263760120328
Stock -ve Days10192757129399

[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
SMTI17.2%58.0%0.49-
Sector ETF (XLV)23.9%16.0%1.1418.4%
Equity (SPY)17.6%12.7%0.9912.4%
Gold (GLD)0.5%29.5%0.02-8.2%
Commodities (DBC)50.9%20.7%1.88-5.2%
Real Estate (VNQ)4.7%13.7%0.0821.7%
Bitcoin (BTCUSD)-28.1%43.7%-0.638.7%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SMTI
SMTI1.4%55.8%0.23-
Sector ETF (XLV)8.1%15.2%0.3429.1%
Equity (SPY)13.4%17.1%0.6035.1%
Gold (GLD)18.5%18.9%0.793.7%
Commodities (DBC)9.7%19.5%0.387.7%
Real Estate (VNQ)1.1%18.8%-0.0531.4%
Bitcoin (BTCUSD)8.7%51.8%0.3518.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SMTI
SMTI68.3%2,340.9%0.41-
Sector ETF (XLV)11.0%16.7%0.540.5%
Equity (SPY)15.4%17.9%0.731.6%
Gold (GLD)12.2%16.4%0.610.5%
Commodities (DBC)8.2%18.1%0.370.4%
Real Estate (VNQ)5.0%20.7%0.202.5%
Bitcoin (BTCUSD)63.1%66.2%1.032.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 915202614.4%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest2.8 days
Basic Shares Quantity8.7 Mil
Short % of Basic Shares4.1%

Earnings Returns History

Updated 9/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/2026-0.1%-0.6%1.9%
5/11/202613.4%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%
8/13/202516.2%12.3%28.4%
5/14/2025-10.8%-11.6%-18.3%
3/25/2025-12.6%-13.5%-15.3%
...
SUMMARY STATS   
# Positive141011
# Negative101413
Median Positive6.2%8.8%14.6%
Median Negative-7.6%-5.8%-10.3%
Max Positive19.4%21.5%38.2%
Max Negative-24.7%-25.5%-21.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/2026-0.1%-0.6%1.9%
5/11/202613.4%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%
8/13/202516.2%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%
11/12/20247.6%6.8%3.6%
8/12/202415.1%17.6%20.4%
5/13/2024-6.8%-2.9%-1.4%
3/25/20241.4%-2.9%-10.3%
11/13/202319.4%11.3%38.2%
8/14/2023-9.7%-12.5%-20.1%
5/15/2023-8.4%-13.1%-9.2%
3/20/20230.5%-2.5%18.7%
11/14/20224.8%6.3%3.9%
8/15/20222.3%0.1%14.6%
5/16/20225.9%6.9%-11.4%
3/30/20226.4%4.6%-7.5%
11/15/20210.9%-6.0%-21.0%
8/16/2021-1.5%-0.0%-8.1%
1/25/20212.3%-13.2%-11.6%
SUMMARY STATS   
# Positive141011
# Negative101413
Median Positive6.2%8.8%14.6%
Median Negative-7.6%-5.8%-10.3%
Max Positive19.4%21.5%38.2%
Max Negative-24.7%-25.5%-21.0%

Recent Forward Guidance

Updated 10/8/2026

Latest: Q2 2026 Earnings Reported 8/11/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2027 OsStic Market IntroductionReported      


Prior: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported28.50 Mil29.00 Mil29.50 Mil   
Q2 2026 Revenue GrowthReported10.0%12.0%14.0%   
2026 Research and DevelopmentReported0.050.060.07   
2026 RevenueReported116.00 Mil118.50 Mil121.00 Mil0 AffirmedGuidance: 118.50 Mil for 2026
2026 Revenue GrowthReported13.0%15.0%17.0% 0AffirmedGuidance: 15.0% for 2026

Q4 2025 Earnings Reported 1/23/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported116.00 Mil118.50 Mil121.00 Mil   
2026 Revenue GrowthReported13.0%15.0%17.0%   
Core Cache Last Updated: 10/15/2026