Sanara MedTech Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:03 pm
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Sanara MedTech Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 15.75 million compared to USD 9.67 million a year ago. Net loss was USD 1.83 million compared to net income of USD 0.769426 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to diluted earnings per share from continuing operations of USD 0.09 a year ago.
For the six months, sales was USD 31.28 million compared to USD 17.48 million a year ago. Net loss was USD 3.01 million compared to USD 2.36 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.37 compared to USD 0.31 a year ago.
Sanara Medtech Inc. is a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets. It markets several products for surgical and chronic wound care applications and has multiple products in its pipeline. Its surgical products, CellerateRX Surgical, TEXAGEN, BiFORM, ACTIGEN, ALLOCYTE, ALLOCYTE Plus Advanced Viable Bone Matrix (ALLOCYTE Plus), BIASURGE, FORTIFY TRG Tissue Repair Graft (FORTIFY TRG), and FORTIFY FLOWABLE Extracellular Matrix (FORTIFY FLOWABLE) are used in a range of surgical specialties to help promote patient healing and reduce the risk of complications. CellerateRX Surgical products, TEXAGEN products, FORTIFY TRG and FORTIFY FLOWABLE are used in specialties, including cardiothoracic, colorectal, general surgery, hand, head and neck, high-risk obstetrics and gynecology, Mohs surgery, neurosurgery, and others.