Sanara MedTech Files Q2 2024 10-Q

TL;DR

Sanara MedTech dropped its Q2 10-Q. Check financials.

AI Summary

Sanara MedTech Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Wound Management Technologies, Inc., reported its financial performance for the second quarter and the first half of the year. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Sanara MedTech, crucial for understanding the company's trajectory in the orthopedic, prosthetic, and surgical supplies market.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter ending June 30, 2024.)
• H1 2024 — Reporting Period (Financials for the first half of the year ending June 30, 2024.)

Key Players & Entities

• Sanara MedTech Inc. (company) — Filer of the 10-Q
• Wound Management Technologies, Inc. (company) — Former name of Sanara MedTech Inc.
• 20240630 (date) — End of the reporting period
• 20240812 (date) — Filing date

FAQ

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) — 1331KB
• ex10-4.htm (EX-10.4) — 76KB
• ex10-6.htm (EX-10.6) — 53KB
• ex10-7.htm (EX-10.7) — 21KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-031254.txt ( ) — 7928KB
• smti-20240630.xsd (EX-101.SCH) — 50KB
• smti-20240630_cal.xml (EX-101.CAL) — 74KB
• smti-20240630_def.xml (EX-101.DEF) — 214KB
• smti-20240630_lab.xml (EX-101.LAB) — 483KB
• smti-20240630_pre.xml (EX-101.PRE) — 372KB
• form10-q_htm.xml (XML) — 1364KB

– Financial Information

Part I – Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Operations (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Changes in Shareholders' Equity (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 5 Consolidated Statements of Cash Flows (Unaudited) for the Six Months Ended June 30, 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 33

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 47

Controls and Procedures

Item 4. Controls and Procedures 47

– Other Information

Part II – Other Information 47

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 49

Exhibits

Item 6. Exhibits 50

Signatures

Signatures 51 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) June 30, December 31, 2024 2023 Assets Current assets Cash $ 6,150,375 $ 5,147,216 Accounts receivable, net 10,495,742 8,474,965 Accounts receivable – related parties 111,412 8,400 Accounts receivable 111,412 8,400 Royalty receivable - 49,344 Inventory, net 3,564,659 4,717,533 Prepaid and other assets 489,240 608,411 Total current assets 20,811,428 19,005,869 Long-term assets Intangible assets, net 42,977,404 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 1,792,448 1,995,204 Property and equipment, net 1,116,266 1,257,956 Total long-term assets 52,572,177 54,865,280 Total assets $ 73,383,605 $ 73,871,149 Liabilities and shareholders' equity Current liabilities Accounts payable $ 750,538 $ 1,924,082 Accounts payable – related parties 145,487 77,805 Accounts payable 145,487 77,805 Accrued bonuses and commissions 6,715,062 7,676,770 Accr

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View this 10-Q filing on SEC EDGAR