Sanara MedTech Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Sanara MedTech Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

Sanara MedTech Inc. (SMTI) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Sanara MedTech Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. Sanara MedTech Inc. was formerly known as Wound Management Technologies, Inc. The filing covers the first quarter of the fiscal year. The company's business address is in Fort Worth, Texas.

Why It Matters

For investors and stakeholders tracking Sanara MedTech Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial data, including revenue, expenses, and balance sheet information, crucial for assessing the company's current financial health and performance trends. Understanding the details within this 10-Q is essential for evaluating Sanara MedTech's strategic direction, market position, and potential risks and opportunities in the orthopedic, prosthetic, and surgical appliances sector.

Risk Assessment

Risk Level: low — Sanara MedTech Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would elevate the risk level.

Analyst Insight

Monitor future filings for revenue growth trends in soft tissue repair and bone fusion products, and track any changes in operating expenses.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-13 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• 001-39678 — SEC File Number (SEC file number)

Key Players & Entities

• Sanara MedTech Inc. (company) — Filer name
• WOUND MANAGEMENT TECHNOLOGIES, INC. (company) — Former company name
• MB SOFTWARE CORP (company) — Former company name
• INAV TRAVEL CORPORATION (company) — Former company name
• Fort Worth (location) — Business address city
• TX (location) — Business address state

FAQ

Industry Context

Sanara MedTech Inc. operates in the orthopedic, prosthetic & surgical appliances & supplies industry, a sector focused on developing and distributing medical devices for surgical procedures and patient recovery.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Analyze any disclosed risk factors or legal proceedings mentioned in the filing.
3. Compare the reported period's performance against previous quarters and the same period in the prior year.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

Year-Over-Year Comparison

This filing is a standard quarterly report and does not provide direct comparative data to a previous filing within this JSON output, but it updates the financial status from the prior reporting period.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SMTI The Nasdaq Capital M

Filing Documents

• form10-q.htm (10-Q) — 934KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-018880.txt (&nbsp;) — 6140KB
• smti-20240331.xsd (EX-101.SCH) — 47KB
• smti-20240331_cal.xml (EX-101.CAL) — 71KB
• smti-20240331_def.xml (EX-101.DEF) — 208KB
• smti-20240331_lab.xml (EX-101.LAB) — 473KB
• smti-20240331_pre.xml (EX-101.PRE) — 360KB
• form10-q_htm.xml (XML) — 828KB

– Financial Information

Part I – Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Changes in Shareholders' Equity (Unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2024 and 2023 6 Notes to Unaudited Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

– Other Information

Part II – Other Information 42

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 46 Sanara, Sanara MedTech, our logo and our other trademarks or service marks appearing in this report are the property of Sanara MedTech Inc. Trade names, trademarks and service marks of other companies appearing in this report are the property of their respective owners. Solely for convenience, the trademarks, service marks and trade names included in this report are without the , or other applicable symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks and trade names. Unless otherwise indicated, "Sanara MedTech," "Sanara," the "Company," "our," "us," or "we," refer to Sanara MedTech Inc. and its consolidated subsidiaries. 2 Part I – Financial Information ITEM 1. FINANCIAL STATEMENTS SANARA MEDTECH INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, December 31, 2024 2023 Assets Current assets Cash $ 2,828,234 $ 5,147,216 Accounts receivable, net 9,194,799 8,474,965 Accounts receivable – related parties 23,002 8,400 Accounts receivable 23,002 8,400 Royalty receivable - 49,344 Inventory, net 4,229,150 4,717,533 Prepaid and other assets 911,594 608,411 Total current assets 17,186,779 19,005,869 Long-term assets Intangible assets, net 43,953,610 44,926,061 Goodwill 3,601,781 3,601,781 Investment in equity securities 3,084,278 3,084,278 Right of use assets – operating leases 1,894,687 1,995,204 Property and equipment, net 1,190,805 1,257,956 Total long-term assets 53,725,161 54,865,280 Total assets $ 70,911,940 $ 73,871,149 Liabilities and shareholders' equity Current liabilities Accounts payable $ 1,191,816 $ 1,924,082 Accounts payable – related parties 87,116 77,805 Accounts payable 87,116 77,805 Accrued bonuses and commissions 6,893,381 7,676,770 Accrued

View Full Filing

View this 10-Q filing on SEC EDGAR