Full Press Release Details
MedTech Inc. Reports Unaudited Preliminary Results for the Fourth Quarter and Full Year 2024
Quarter Net Revenue Expected to Increase 45% to 48% Year-Over-Year; Full Year Net Revenue Expected to Increase 32% to 33% Year-Over-Year
WORTH, TX, January 21, 2025 (GLOBE NEWSWIRE) - Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara,"
the "Company," "we," "our" or "us") (Nasdaq: SMTI), a medical technology company focused
on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the
surgical, chronic wound and skincare markets, today reported certain unaudited preliminary results for the fourth quarter and full year
ended December 31, 2024.
Fourth Quarter and Full Year 2024 Preliminary Results (Unaudited):
Quarter 2024 Operational Highlights:
team delivered strong execution with respect to our growth strategy during the fourth quarter of 2024, enabling Sanara to achieve our
thirteenth consecutive record net revenue quarter, with growth expected to be at least 45% year-over-year," stated Ron Nixon, Sanara's
Executive Chairman and CEO. "Our revenue performance benefited from impressive sales of BIASURGE during the quarter, due in part
to shortages of IV fluids and saline solutions in the broader healthcare industry related to Hurricane Helene. These temporary shortages
led to exceptionally strong demand from both new and existing customers, and we estimate that our BIASURGE sales in the fourth quarter
of 2024 included approximately $1.8 million of revenue that we believe is attributable to this unique situation. We were proud to support
our customers during this period of disruption and, importantly, we expect to report strong net revenue growth in the fourth quarter
excluding the benefit related to this unique demand."
Nixon continued: "We also complemented our strong sales performance with operational progress across multiple fronts. As we announced
today, our team submitted 11 provisional patent applications in 2024 related to innovations in proprietary antimicrobial technologies
and hydrolyzed collagen. These filings underscore Sanara's commitment to pioneering research and expanding its intellectual property
portfolio in this dynamic space. We look forward to discussing our financial and operational achievements in further detail on our earnings
Company's independent registered public accounting firm has not completed its procedures with respect to the preliminary financial
information or its audit of our financial statements for the year ended December 31, 2024. Actual results may differ from these estimates
as a result of the completion of our audit and other developments that may arise between now and the time our financial results for the
fourth quarter and fiscal year are finalized.
MedTech Inc. is a medical technology company focused on developing and commercializing transformative technologies to improve clinical
outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets. The Company markets, distributes and
develops surgical, wound and skincare products for use by physicians and clinicians in hospitals, clinics and all post-acute care settings
and offers wound care and dermatology virtual consultation services via telemedicine. Sanara's products are primarily sold in the
North American advanced wound care and surgical tissue repair markets. Sanara markets and distributes CellerateRX Surgical
Activated Collagen, FORTIFY TRG Tissue Repair Graft and FORTIFY FLOWABLE Extracellular Matrix as well
as a portfolio of advanced biologic products focusing on ACTIGEN Verified Inductive Bone Matrix, ALLOCYTE Plus
Advanced Viable Bone Matrix, BiFORM Bioactive Moldable Matrix, TEXAGEN Amniotic Membrane Allograft, and
BIASURGE Advanced Surgical Solution to the surgical market. In addition, the following products are sold in the wound
care market: BIAK S Antimicrobial Skin and Wound Cleanser, BIAK S Antimicrobial Wound Gel,
and BIAK S Antimicrobial Skin and Wound Irrigation Solution. Sanara's pipeline also contains potentially
transformative product candidates for mitigation of opportunistic pathogens and biofilm, wound re-epithelialization and closure, necrotic
tissue debridement and cell compatible substrates. The Company believes it has the ability to drive its pipeline from concept to preclinical
and clinical development while meeting quality and regulatory requirements. Sanara is constantly seeking long-term strategic partnerships
with a focus on products that improve outcomes at a lower overall cost. For more information, please visit sanaramedtech.com.
about Forward-Looking Statements
statements in this press release that do not constitute historical facts are "forward-looking statements," within the meaning
of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified
by terms such as "aims," "anticipates," "believes," contemplates," "continue,"
"could," "estimates," "expect," "forecast," "guidance," "intends,"
"may," "plans," "possible," "potential," "predicts," "preliminary,"
"projects," "seeks," "should," "targets," "will" or "would,"
or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include, among
others, statements regarding the Company's expected net revenue for the fourth quarter and full fiscal year ended December 31,
2024, the Company's expected cash balance as of December 31, 2024, the Company's business strategy and mission, the development
of new products, the timing of commercialization of the Company's products, the regulatory approval process and expansion of the
Company's business in telehealth and wound care. These items involve risks, contingencies and uncertainties such as the preliminary
financial information remaining subject to changes and finalization based upon management's ongoing review of results for the fourth
quarter and full fiscal year 2024 and the completion of all quarter and year-end closing procedures, the extent of product demand, market
and customer acceptance, the effect of economic conditions, competition, pricing, uncertainties associated with the development and process
for obtaining regulatory approval for new products, the ability to consummate and integrate acquisitions, and other risks, contingencies
and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, which could cause the Company's
actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these
forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to revise any of
these statements to reflect the future circumstances or the occurrence of unanticipated events, except as required by applicable securities
Powell or Mike Piccinino, CFA