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Sanara MedTech
(NASDAQ:SMTI)
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Rating:56Neutral
Price Target:
$36.00
▲(3.84% Upside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by weak financial performance quality—large net losses and a highly leveraged balance sheet—despite strong revenue/gross margin trends and improving cash flow. Technicals are supportive with a clear uptrend, and the pending acquisition/approval news is a meaningful positive catalyst, while valuation is constrained by the negative P/E.
Positive Factors
Strong Revenue and Gross Margin Trends
Sustained revenue expansion and exceptionally high gross margins indicate strong product economics and growing clinical adoption. This combination can support reinvestment, broaden distribution, and provide operating leverage as Sanara scales its wound and skin care portfolio over the next several quarters.
Negative Factors
Highly Leveraged Balance Sheet
Material leverage on a thin equity base leaves limited financial cushion if operating performance weakens. Higher debt can constrain capital allocation, increase sensitivity to financing costs, and make it harder for Sanara to fund growth or absorb setbacks while losses remain significant.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Gross Margin Trends
Sustained revenue expansion and exceptionally high gross margins indicate strong product economics and growing clinical adoption. This combination can support reinvestment, broaden distribution, and provide operating leverage as Sanara scales its wound and skin care portfolio over the next several quarters.
Read all positive factors
Sanara MedTech (SMTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$321.58M
Dividend Yield0%
Average Volume (3M)232.80K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue Growth12.93%
EPS Growth-219.19%
CountryUS
Employees108
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-3.72
Shares Outstanding9,188,035
10 Day Avg. Volume184,279
30 Day Avg. Volume232,796
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)33.96
Price to Sales (P/S)1.95
P/FCF Ratio93.17
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue2.16
Enterprise Value/Gross Profit2.37
Enterprise Value/Ebitda25.10
Forecast
1Y Price Target
$35.00Price Target Upside0.95% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.18
Revenue Forecast (FY)$116.97M
Sanara MedTech Business Overview & Revenue Model
Company Description
Sanara MedTech Inc. is a Fort Worth, Texas-based company established in 2001, dedicated to the development, marketing, and distribution of advanced wound and skin care products. These solutions are provided to a diverse clientele within the United...
How the Company Makes Money
SMTI makes money primarily by selling wound and skin care products to hospitals, outpatient surgery centers, wound care clinics, and other healthcare providers. Revenue is generated through product sales (recognized when products are delivered per...
Sanara MedTech Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive picture: the company delivered strong top-line growth (19% YoY), improved margins, positive GAAP net income, and sizable adjusted EBITDA improvement while expanding commercial reach and reaffirming full-year guidance. Key concerns noted were modest cash reduction, higher interest/other expenses, increased SG&A, and that new sales hires and the Vizient contract will take time to be fully accretive. On balance, the positives (growth, profitability, margin expansion, distribution scale, and cash-based debt servicing) materially outweigh the headwinds.Positive Updates
Strong Revenue Growth
Net revenue increased 19% year-over-year in Q1 2026 (+$4.4M), driven primarily by increased sales of soft tissue repair products including CellerateRX Surgical and BIASURGE.
Negative Updates
Modest Cash Position and Operating Cash Use
Cash decreased to $13.6 million as of March 31, 2026 from $16.6 million at year-end; net cash used in operating activities was $2.5 million in the quarter versus $2.0 million in the prior-year period.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Net revenue increased 19% year-over-year in Q1 2026 (+$4.4M), driven primarily by increased sales of soft tissue repair products including CellerateRX Surgical and BIASURGE.
Read all positive updates
Company Guidance
Sanara reaffirmed Q2 2026 net revenue guidance of $28.5–$29.5 million (up ~10–14% year‑over‑year) and full‑year 2026 net revenue guidance of $116–$121 million (≈13–17% growth). Management said this guidance is supported by a strong Q1 that saw net revenue increase $4.4 million (19% YoY), gross profit rise $4.3 million to $25.9 million (gross margin ~93%, +100 bps), operating income of $2.6 million, adjusted EBITDA of $4.3 million (up 58%), and GAAP net income from continuing operations of $0.4 million ($0.04 per diluted share), while noting a 3‑day shipping shutdown in January and that Q1 is seasonally the slowest quarter. The company highlighted commercial momentum behind the guide—43 sales reps, contracts/approvals in >4,000 hospitals/ASCs, product sales in >1,400 facilities (up from >1,300), >450 distributor agreements (vs 400 a year ago)—and reiterated capital priorities (OsStic market introduction on track for Q1 2027, target R&D run‑rate ~5–7% of sales), with cash of $13.6 million and long‑term debt of $46.2 million.Sanara MedTech Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
18
Very Negative
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 109.81M | 103.12M | 86.67M | 64.99M | 45.84M | 24.14M |
| Gross Profit | 100.29M | 92.94M | 78.53M | 57.14M | 39.48M | 21.83M |
| EBITDA | 9.46M | 9.03M | -1.86M | -289.10K | -11.57M | -7.22M |
| Net Income | -32.01M | -37.56M | -9.66M | -4.30M | -7.94M | -7.92M |
Balance Sheet | ||||||
| Total Assets | 69.15M | 72.94M | 88.09M | 73.87M | 61.04M | 36.40M |
| Cash, Cash Equivalents and Short-Term Investments | 15.42M | 16.58M | 15.88M | 5.15M | 8.96M | 18.65M |
| Total Debt | 48.53M | 48.19M | 32.29M | 11.79M | 819.22K | 425.44K |
| Total Liabilities | 61.21M | 67.01M | 49.18M | 29.28M | 19.32M | 6.24M |
| Stockholders Equity | 7.94M | 5.93M | 39.40M | 44.83M | 41.83M | 30.64M |
Cash Flow | ||||||
| Free Cash Flow | 4.50M | 2.16M | -253.08K | -3.51M | -6.30M | -5.56M |
| Operating Cash Flow | 5.69M | 6.79M | -23.78K | -3.25M | -5.55M | -4.81M |
| Investing Cash Flow | -5.92M | -8.36M | -6.61M | -10.21M | -3.51M | -5.28M |
| Financing Cash Flow | -1.32M | -8.48M | 17.37M | 9.64M | -627.35K | 28.30M |
Sanara MedTech Technical Analysis
Positive
34.67
Price Trends
34.41
Positive
28.86
Positive
24.61
Positive
Market Momentum
0.31
Positive
61.92
Neutral
50.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMTI, the sentiment is Positive. The current price of 34.67 is below the 20-day moving average (MA) of 35.05, above the 50-day MA of 34.41, and above the 200-day MA of 24.61, indicating a neutral trend. The MACD of 0.31 indicates Positive momentum. The RSI at 61.92 is Neutral, neither overbought nor oversold. The STOCH value of 50.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SMTI.
Sanara MedTech Risk Analysis
Sanara MedTech disclosed 46 risk factors in its most recent earnings report. Sanara MedTech reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sanara MedTech Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $232.67M | 22.51 | 8.74% | 1.68% | -7.00% | -12.28% | |
72 Outperform | $268.68M | 31.57 | 14.81% | ― | 2.47% | 75.23% | |
56 Neutral | $321.58M | -9.42 | -473.55% | 0.00% | 12.93% | -219.19% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $283.46M | -5.46 | -14.73% | ― | -18.86% | -0.63% | |
49 Neutral | $118.24M | -4.65 | -132.62% | ― | -5.47% | 13.55% |
* Healthcare Sector Average
SMTI
Sanara MedTech
35.00
2.68
8.29%
INFU
InfuSystem Holdings
13.27
3.45
35.13%
OSUR
Orasure Technologies
3.77
0.53
16.36%
STXS
Stereotaxis
1.15
-2.42
-67.79%
UTMD
Utah Medical Products
73.83
11.60
18.64%
Sanara MedTech Corporate Events
M&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Sanara MedTech Shareholders Approve Merger with MiMedx
Positive
Oct 1, 2026
On September 30, 2026, Sanara MedTech shareholders approved a merger agreement under which Mustang Merger Sub, a wholly owned subsidiary of MiMedx Group Inc., will merge with and into Sanara, leaving Sanara as a wholly owned subsidiary of MiMedx. ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Sanara MedTech agrees to be acquired by MiMedx
Positive
Jul 29, 2026
On July 29, 2026, MiMedx Group Inc. and Sanara MedTech Inc. announced a definitive merger agreement under which MiMedx will acquire all outstanding Sanara shares in a cash-and-stock deal valued at $35 per share, implying an enterprise value of abo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.