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Earnings Call Summary | Sanara MedTech(SMTI.US) Q1 2024 Earnings Conference

moomoo AI ·  May 14 20:24  · Conference Call

The following is a summary of the Sanara MedTech Inc. (SMTI) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Sanara MedTech experienced a record Q1 2024 with $18.5 million in revenue, fueled by a substantial increase in sales of soft tissue products.

  • Despite the significant revenue growth, the company reported a net loss of $1.8 million, though it generated a positive adjusted EBITDA of $300,000.

  • The company saw a slight reduction in sales of bone fusion products, and finished the quarter with a cash position of $2.8 million.

Business Progress:

  • The company expanded the reach of its advanced wound care products to over 1,000 facilities across 34 states and Washington D.C.

  • Progress has been made on their InfuSystem partnership and expansion of the existing surgical product line, with advancements on the intellectual property and manufacturing processes for the Cellerate product line.

  • Sanara is also investing in technology capabilities and partnerships for commercializing its Tissue Health Plus strategy.

More details: Sanara MedTech IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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