One-glance verdict
Overvalued
$4.38 our estimate vs market $32.83
Wall Street consensus: $35.00 (698.9% higher than our fair-value estimate)
649% above our estimate, beyond the bull case
Fundamentals snapshot
Sanara MedTech Inc.
SMTI · NCM · Healthcare · Medical Instruments & Supplies
Current price
$32.83
52-week range
$16.05 - $35.52
Market cap
$301.64M
Balance sheet
Distressed
1.35x Concerning
Net debt $33.11M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
1 Risk
2 rewards · 1 risks
- Reward Revenue grew 6.5% last year.
- Reward Free cash flow was positive in 3/10 years.
- Risk Return on equity was -1.3% last year — the company lost money on shareholders' equity.
What this company does
Sanara MedTech Inc.
Sanara MedTech develops and sells medical products like wound care treatments and surgical implants to healthcare providers in the U.S. Their main income comes from selling these specialized medical solutions, and this matters because it shows how well they are doing at getting their products into the hands of doctors and hospitals.
How the company got here
Sanara MedTech Inc. was founded in 2001 and is based in Fort Worth, Texas. The company has evolved into a developer, marketer, and distributor of surgical solutions. Its focus is on providing innovative products to healthcare professionals in various settings, including hospitals, clinics, and post-acute care facilities across the United States. Over the years, Sanara has built a portfolio of products aimed at improving surgical outcomes and patient recovery.
What it actually does
Sanara MedTech Inc. provides advanced medical products designed to help surgeons and healthcare providers treat wounds and repair tissue. Think of them as creating specialized bandages and materials that aid the body's natural healing process after surgery or injury. Their offerings include collagen-based products for wound management, tissue repair grafts, and bone graft substitutes that help bones heal and regenerate. They also have antimicrobial solutions to prevent and treat infections.
Surgical Solutions
This is Sanara's primary business, focusing on products that help during and after surgical procedures. A key product is CellerateRX Surgical, which is made from bovine collagen and helps manage various types of wounds, including surgical incisions, traumatic injuries, and burns. They also offer BIASURGE, a no-rinse solution used to clean wounds during surgery. These products are sold to physicians, hospitals, and clinics, forming the core of Sanara's revenue.
Tissue Repair and Bone Grafts
Sanara also develops and markets advanced materials for tissue regeneration and bone repair. Products like FORTIFY TRG are freeze-dried sheets that help repair tissue, while BiFORM and ACTIGEN are designed to promote bone growth and healing. ALLOCYTE Plus is a bone matrix containing cells that aid in bone regeneration. These specialized products are used in orthopedic and reconstructive surgeries, offering solutions for complex bone defects and tissue damage.
Antimicrobial Products
Through a licensing agreement, Sanara offers a line of antimicrobial products aimed at preventing and treating microbial issues on the body. This includes BIASURGE Advanced Surgical Solution, BIAKOS Antimicrobial Wound Gel, and BIAKOS Antimicrobial Skin and Wound Cleanser. These products are designed to reduce the risk of infection in surgical sites and wounds, providing an added layer of protection for patients and complementing their other surgical offerings.
What management is betting on now
Sanara's management is focused on expanding its market reach and product offerings in surgical solutions and regenerative medicine. They are strategically investing in the development and marketing of innovative products that address unmet needs in wound care and tissue repair. The company aims to strengthen its relationships with healthcare providers and increase its sales force to drive revenue growth. A key priority is to leverage their existing product portfolio and explore new opportunities for technological advancements in the medical device sector.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$2.04M
FY2024 Q4
$859.88K
FY2025 Q1
$-3.72M
FY2025 Q2
$902.65K
FY2025 Q3
$1.12M
FY2025 Q4
$3.86M
FY2026 Q1
$-2.51M
FY2026 Q2
$2.03M
Revenue
$28.14M
Net income
$-452.86K
Diluted EPS
-0.05
Operating cash flow
$2.04M
Free cash flow
$2.03M
Fetching…
Sources
Revenue
$27.80M
Net income
$458.96K
Diluted EPS
0.05
Operating cash flow
$-2.47M
Free cash flow
$-2.51M
Fetching…
Sources
Revenue
$27.52M
Net income
$-1.61M
Diluted EPS
-0.32
Operating cash flow
$3.95M
Free cash flow
$3.86M
Fetching…
Sources
Revenue
$26.33M
Net income
$-30.41M
Diluted EPS
-3.40
Operating cash flow
$2.18M
Free cash flow
$1.12M
Fetching…
Sources
Revenue
$25.83M
Net income
$-2.01M
Diluted EPS
-0.23
Operating cash flow
$2.66M
Free cash flow
$902.65K
Fetching…
Sources
Revenue
$23.43M
Net income
$-3.53M
Diluted EPS
-0.41
Operating cash flow
$-2.00M
Free cash flow
$-3.72M
Fetching…
Sources
Revenue
$26.31M
Net income
$-1.54M
Diluted EPS
-0.18
Operating cash flow
$932.05K
Free cash flow
$859.88K
Fetching…
Sources
Revenue
$21.67M
Net income
$-2.86M
Diluted EPS
-0.34
Operating cash flow
$2.05M
Free cash flow
$2.04M
Fetching…
Sources
Is it cheap or expensive?
Fair value $4.38 vs current price $32.83
Wall Street consensus is the average analyst price target: $35.00 (698.9% higher than our fair-value estimate).
Our most-likely fair value is $4.38 a share — about 86.7% below today's price of $32.83, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Distressed
Net debt $33.1M. Interest coverage 1.4x.
Net debt
$33.11M
Interest coverage
1.35x
Sanara MedTech Inc.'s profit covers its interest bill about 1.4 times over. which is stronger than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
SMTI
BASELINE
Sanara MedTech Inc.
Total debt $48.53M Interest coverage 1.35x This is the baseline the peer rows are being compared against.
Total debt $66.95M Interest coverage 36.18x +2,574% vs SMTI Carries about 26.7x more debt cushion than SMTI.
Total debt $0.00 Interest coverage 63.51x +4,594% vs SMTI Carries about 46.9x more debt cushion than SMTI.
Total debt $2.00B Interest coverage 0.21x -85% vs SMTI Carries about 6.5x less debt cushion than SMTI.
Total debt $263.75M Interest coverage 2.13x +57% vs SMTI Carries about 1.6x more debt cushion than SMTI.
Total debt $25.25M Interest coverage -6.34x -100% vs SMTI This peer has almost no interest-payment cushion compared with SMTI.
What you should know
The case for and against SMTI
2 Rewards
1 Risk
Rewards
-
Revenue grew 6.5% last year.
-
Free cash flow was positive in 3/10 years.
Risks
-
Return on equity was -1.3% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
60.80x
P/B
38.00x
P/S
2.75x
EV/EBITDA
26.26x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
93.0%
Operating margin
6.3%
Net margin
-29.2%
ROE
-1.3%
ROA
7.6%
Health
Liquidity and balance-sheet strength
Debt / equity
6.12x
Current ratio
2.58x
Quick ratio
2.24x
Total debt
$48.53M
Total cash
$15.42M
Growth
How the business has been compounding
Revenue TTM
$109.79M
Revenue 5Y CAGR
43.8%
EPS TTM
-0.04
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$5.69M
Free CF TTM
$2.16M
FCF margin
2.0%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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