Sanara MedTech Q3 2024 Earnings Report
Key Takeaways
Sanara MedTech reported a 35% increase in net revenue to $21.7 million for Q3 2024, marking the twelfth consecutive record net revenue quarter. However, the company experienced a net loss of $2.9 million, primarily due to increased SG&A costs related to the Tissue Health Plus (THP) platform buildout, higher interest expense, and an increase in expense due to change in fair value of earnout liabilities.
Net revenue increased by 35% year-over-year to $21.7 million, marking the twelfth consecutive record revenue quarter.
The number of facilities selling Sanara's products increased to over 900 in Q3 2024, compared to over 600 in Q3 2023.
Net loss was $2.9 million, compared to a net loss of $1.1 million in the same quarter last year, primarily driven by increased SG&A costs for the THP platform.
Adjusted EBITDA was $0.8 million, compared to $0.3 million for the quarter ended September 30, 2023.
Sanara MedTech
Sanara MedTech
Forward Guidance
The company remains focused on continuing to execute its growth strategy and delivering exceptional value to both its customers and shareholders.