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Sep 30, 2021
Sanara MedTech Q3 2021 Earnings Report
Announced third quarter 2021 results, demonstrating revenue growth despite challenges from the COVID-19 Delta variant surge.
Key Takeaways
Sanara MedTech reported a 35% increase in revenue compared to the same quarter last year, despite the impact of the COVID-19 Delta variant on elective procedures. The company experienced a higher net loss due to increased SG&A expenses related to sales force expansion and the addition of Rochal Industries, LLC.
Revenues increased by 35% compared to the third quarter of 2020, reaching $5,823,942.
The company's sales were impacted by the COVID-19 Delta variant surge in key markets.
Net loss increased due to higher SG&A expenses, primarily driven by sales force expansion and increased selling costs.
The company continued to execute its wound and skin care strategy by gaining new hospital approvals and expanding into new facilities.