Sanara MedTech Announces Q4 And Full-Year 2024 Revenue Growth, Driven By Soft Tissue Repair Products; Revenue Expected Between $25.7M-$26.2M For Q4, FY24 Revenue Between $86M-$86.5M

Benzinga01-21

Selected Fourth Quarter and Full Year 2024 Preliminary Results (Unaudited):

Net revenue for the three months ended December 31, 2024 is expected to be in the range of $25.7 million to $26.2 million, an increase of approximately 45% to 48% over the prior year period.
- The higher net revenue in the fourth quarter of 2024 was driven primarily by increased sales of soft tissue repair products, most notably CellerateRX® Surgical Activated Collagen® and BIASURGE®.
- During the early part of the fourth quarter of 2024, the Company experienced growth in sales of BIASURGE as a result of supply chain issues and shortages of intravenous ("IV") fluids and saline solutions experienced by the broader industry due to Hurricane Helene. The Company expects that sales of BIASURGE will normalize in the first quarter of 2025 as access to IV and saline solutions used for wound irrigation is restored.
Net revenue for the year ended December 31, 2024 is expected to be in the range of $86.0 million to $86.5 million, an increase of approximately 32% to 33% over the prior year period.
As of December 31, 2024, the Company had cash of approximately $15.9 million, $30.5 million of principal debt obligations outstanding, and $24.5 million in available borrowing capacity, compared to $16.3 million of cash, $30.5 million of principal debt obligations outstanding, and $24.5 million in available borrowing capacity as of September 30, 2024.

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