The following is a summary of the Sanara MedTech Inc. (SMTI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Sanara MedTech Inc. reported revenues of $20.2 million for Q2 2024, indicating an 11th consecutive record revenue quarter.

• The company experienced a net loss of $3.5 million but achieved positive adjusted EBITDA of $600,000.

• Total SG&A expenses increased to $19 million from $13.8 million in Q2 2023, with key contributions from higher sales and marketing expenses.

• Interest expense was $0.6 million due to a new CRG term loan.

Business Progress:

• The products have been sold in over 1100 hospitals across 34 states and the District of Columbia, with selling agreements covering 2500+ potential sellers.

• Sanara's management highlights a commitment to expanding operations significantly in the post-acute wound care sector with a targeted launch in the first half of 2025 for the new Tissue Health Plus strategy.

Opportunities:

• Planned growth in the second half of 2024 with a $4 million to $5 million investment in the Tissue Health Plus strategy, aiming for breakthroughs in high-touch, comprehensive wound care not only in surgical settings but also at home and community venues.

• Expanding market access through strategic partnerships and innovative product offerings, particularly in the trauma, vascular, and general surgery markets.

Risks:

• Continued net losses in Q2 2024 highlight potential financial risks, with a net loss increased from the previous year partially due to higher SG&A costs and interest expenses from new debt.

• The need for substantial investments in the Tissue Health Plus strategy may pose financial strain if not managed with effective cost-control measures.

More details: Sanara MedTech IR

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