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Jun 30, 2023
Sanara MedTech Q2 2023 Earnings Report
Sanara MedTech reported record revenue growth driven by increased sales of soft tissue repair and bone fusion products, offset by supply issues with ALLOCYTE® Advanced Cellular Bone Matrix.
Key Takeaways
Sanara MedTech Inc. announced its second quarter 2023 results, highlighted by record revenue of $15.8 million, a 63% increase compared to the prior year period. The company reported a net loss of $1.9 million, compared to net income of $0.8 million for the three months ended June 30, 2022. Subsequent to the quarter, Sanara completed the acquisition of certain assets related to its collagen products business.
Net revenues reached $15.8 million, a 63% increase compared to Q2 2022.
Increased sales of soft tissue repair and bone fusion products drove revenue growth.
The company had a net loss of $1.9 million, compared to net income of $0.8 million for the three months ended June 30, 2022.
Completed the acquisition of certain assets related to its collagen products business after the quarter ended.
Sanara MedTech
Sanara MedTech
Sanara MedTech Revenue by Segment
Revenue by Segment
Soft Tissue Repair Revenue
CapyFin.comBone Fusion Products Revenue
CapyFin.com Forward Guidance
The company expects the acquisition of certain assets related to its collagen products business to significantly add to the businesses’ performance by decreasing costs and eliminating the royalties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income