Sanara MedTech Q2 2024 Earnings Report
Key Takeaways
Sanara MedTech reported a record revenue quarter with a 28% increase compared to the previous year, driven by increased sales of soft tissue repair products and market penetration. However, the company experienced a net loss due to increased SG&A costs, executive separation costs, acquisition costs, and higher amortization expenses.
Generated net revenue of $20.2 million, a 28% increase from the prior year period.
The number of facilities where products were sold grew to 800+ compared to 600+ in the same quarter last year.
Reported a net loss of $3.5 million, compared to a net loss of $1.9 million for the prior year quarter.
Generated Adjusted EBITDA of $0.6 million, compared to Adjusted EBITDA of ($0.3) million for the prior year quarter.
Sanara MedTech
Sanara MedTech
Forward Guidance
No specific forward guidance was provided in the press release.