Sanara MedTech Files Q3 2024 10-Q

TL;DR

Sanara MedTech's Q3 10-Q is in. Check financials for 9 months ending Sept 30, 2024 vs 2023.

AI Summary

Sanara MedTech Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Wound Management Technologies, Inc., is based in Fort Worth, Texas, and operates in the orthopedic, prosthetic & surgical appliances & supplies sector. The filing covers financial data for the nine months ended September 30, 2024, and compares it to the same period in 2023.

Why It Matters

This filing provides investors with the latest financial performance and position of Sanara MedTech, crucial for understanding its operational health and future prospects.

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

• 2024-09-30 — Reporting Period End Date (Latest fiscal quarter end)
• 2023-09-30 — Prior Year Period End Date (Comparison period for financial data)
• 2024-11-12 — Filing Date (Date the 10-Q was submitted)

Key Players & Entities

• Sanara MedTech Inc. (company) — Filer
• Wound Management Technologies, Inc. (company) — Former Company Name
• Fort Worth, Texas (location) — Business Address
• 3842 (industry_code) — Standard Industrial Classification

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) — 1378KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-044737.txt ( ) — 8076KB
• smti-20240930.xsd (EX-101.SCH) — 53KB
• smti-20240930_cal.xml (EX-101.CAL) — 78KB
• smti-20240930_def.xml (EX-101.DEF) — 260KB
• smti-20240930_lab.xml (EX-101.LAB) — 514KB
• smti-20240930_pre.xml (EX-101.PRE) — 411KB
• form10-q_htm.xml (XML) — 1310KB

– Financial Information

Part I – Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Operations (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Changes in Shareholders' Equity (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 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 35

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 49

Controls and Procedures

Item 4. Controls and Procedures 49

– Other Information

Part II – Other Information 50

Legal Proceedings

Item 1. Legal Proceedings 50

Risk Factors

Item 1A. Risk Factors 50

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 51

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 51

Other Information

Item 5. Other Information 51

Exhibits

Item 6. Exhibits 52

Signatures

Signatures 53 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) September 30, December 31, 2024 2023 Assets Current assets Cash $ 16,277,189 $ 5,147,216 Accounts receivable, net 11,070,622 8,474,965 Accounts receivable – related parties 43,409 8,400 Accounts receivable 43,409 8,400 Royalty receivable - 49,344 Inventory, net 3,008,349 4,717,533 Convertible loan receivable 1,079,411 - Prepaid and other assets 429,428 608,411 Total current assets 31,908,408 19,005,869 Long-term assets Intangible assets, net 42,029,142 44,926,061 Goodwill 3,601,781 3,601,781 Investment in equity securities 8,321,412 3,084,278 Right of use assets – operating leases 1,688,963 1,995,204 Property and equipment, net 995,770 1,257,956 Total long-term assets 56,637,068 54,865,280 Total assets $ 88,545,476 $ 73,871,149 Liabilities and shareholders' equity Current liabilities Accounts payable $ 1,301,362 $ 1,924,082 Accounts payable – related parties 150,611 77,805 Accounts payable 150,611 77,805 Accrued bonu

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View this 10-Q filing on SEC EDGAR