Sanara MedTech Inc., a leading medical technology company focusing on enhancing clinical outcomes and minimizing healthcare expenditures within surgical, chronic wound, and skincare segments, released its unaudited preliminary results for the fourth quarter and full fiscal year ending December 31, 2024.
For the fourth quarter, the Company anticipates a net revenue surge of approximately 45% to 48% year-over-year, with net revenue ranging from $25.7 million to $26.2 million. This growth was primarily attributed to heightened sales of soft tissue repair products, notably CellerateRX Surgical Activated Collagen and BIASURGE.
On an annual basis, for the full year 2024, Sanara projects net revenue to range from $86.0 million to $86.5 million, marking an increase of about 32% to 33% compared to the previous year. As of December 31, 2024, the Company had approximately $15.9 million in cash, $30.5 million in principal debt obligations, and $24.5 million in available borrowing capacity.
Operational highlights for Q4 included the submission of 11 provisional patent applications covering advancements in proprietary antimicrobial technologies and hydrolyzed collagen by Sanara’s R&D team. Additionally, the appointment of Mr. Keith Myers to the Board of Directors on October 4, 2024, added significant industry expertise to the leadership team.
Ron Nixon, Sanara’s Executive Chairman and CEO, expressed pride in the Company’s revenue performance during Q4, with robust sales of BIASURGE driving the growth. Moreover, Nixon emphasized Sanara’s continuous commitment to innovation, highlighted by the submission of 11 patent applications in 2024.
It’s worth noting that the Company’s independent registered public accounting firm is yet to complete procedures concerning the preliminary financial information for the year ending December 31, 2024. Therefore, actual results may vary pending the finalization of audits and future developments.
Sanara MedTech Inc. is dedicated to driving transformative technologies in the medical space, offering products for surgical, wound, and skincare applications. To stay updated on Sanara’s financial and operational milestones, interested parties can look forward to the upcoming earnings call in March.
The company reminds readers that any forward-looking statements are subject to risks and uncertainties, detailed in the Company’s filings with the Securities and Exchange Commission. Sanara does not undertake any obligation to revise these forward-looking statements, except as required by applicable laws.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sanara MedTech’s 8K filing here.
About Sanara MedTech
Sanara MedTech Inc, a medical technology company, develops, markets, and distributes surgical, wound, and skincare products and services to physicians, hospitals, clinics, and post-acute care settings in the United States. The company offers CellerateRX Surgical, a medical hydrolysate of Type I bovine collagen indicated for the management of surgical, traumatic, and partial- and full-thickness wounds, as well as first- and second-degree burns; and HYCOL, a medical hydrolysate of Type I bovine collagen intended for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.
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