For the twelve months ended Jun 30, 2026, Sanara MedTech Inc. reported $109.81M of revenue and -$32.02M of net income.
SMTI revenue was $28.14M in fiscal Q2 2026 (ended Jun 30, 2026), up 9.0% from a year earlier and up 1.2% from the prior quarter. For the full fiscal 2025 it was $103.12M, up 19.0% from fiscal 2024. Compound annual growth was +45.9% over 5 years and +40.8% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
SMTI net income was -$452.9K in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$2.01M a year earlier. For the full fiscal 2025 it was -$37.56M, compared with -$9.66M in fiscal 2024.
SMTI diluted EPS was -$0.05 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.23 a year earlier. For the full fiscal 2025 it was -$4.36, compared with -$1.14 in fiscal 2024.
SMTI free cash flow was $2.03M in fiscal Q2 2026 (ended Jun 30, 2026), up 125.2% from a year earlier. For the full fiscal 2025 it was $2.16M, compared with -$229.6K in fiscal 2024. Fiscal 2025 is the highest of the 13 fiscal years on file.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $103.12M | $86.67M | $64.99M | $45.84M | $24.14M | $15.59M | $11.77M | $5.84M | $6.30M | $5.51M |
| Cost of revenue | $7.52M | $8.14M | $7.85M | $6.36M | $2.31M | $1.62M | $1.21M | $507.4K | $806.0K | $943.6K |
| Gross profit | $95.60M | $78.53M | $57.14M | $39.48M | $21.83M | $13.97M | $10.56M | $5.33M | $5.50M | $4.56M |
| Research and development | $5.07M | $2.83M | $4.13M | $3.37M | $558.7K | $40.2K | - | - | - | - |
| Selling, general and admin | $78.72M | $71.67M | $56.99M | $45.98M | $28.05M | $18.67M | $13.07M | $5.74M | $5.28M | $3.95M |
| Operating income | $7.30M | $1.26M | -$4.22M | -$12.52M | -$7.38M | -$5.03M | -$2.74M | -$501.9K | $120.4K | -$272.1K |
| Interest expense | $6.76M | $3.13M | $475.8K | $284.7K | $711 | $11.5K | $105.9K | $86.6K | $126.8K | $174.5K |
| Pre-tax income | -$393.1K | -$1.89M | -$4.44M | -$13.94M | -$7.99M | - | - | - | - | - |
| Income tax | - | $48.4K | - | -$5.84M | - | $0 | $0 | $0 | $0 | $0 |
| Net income | -$37.56M | -$9.66M | -$4.30M | -$7.94M | -$7.92M | -$4.45M | -$2.81M | -$600.6K | $331.3K | -$415.7K |
| EPS, basic | -$4.36 | -$1.14 | -$0.52 | -$1.00 | -$1.08 | -$0.76 | -$1.32 | $0.00 | $0.00 | -$0.01 |
| EPS, diluted | -$4.36 | -$1.14 | -$0.52 | -$1.00 | -$1.08 | -$0.76 | -$1.32 | $0.00 | $0.00 | -$0.01 |
| Diluted shares | 8.6M | 8.5M | 8.3M | 7.9M | 7.3M | 5.7M | 2.1M | 217.2M | 208.6M | 108.6M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.58M | $15.88M | $5.15M | $8.96M | $18.65M | $455.4K | $6.61M | $176.4K | $463.2K | $833.5K |
| Receivables | $12.00M | - | - | $6.81M | $2.86M | $0 | - | - | - | - |
| Inventory | $3.95M | $2.75M | $4.72M | $3.55M | $2.05M | $1.15M | $746.5K | $465.3K | $711.4K | $348.5K |
| Current assets | $33.54M | $33.31M | $19.01M | $20.62M | $24.61M | $4.48M | $8.86M | $1.69M | $2.04M | $2.00M |
| Goodwill | $3.60M | $3.60M | $3.60M | $3.60M | - | - | - | - | - | - |
| Total assets | $72.94M | $88.09M | $73.87M | $61.04M | $36.40M | $9.83M | $11.12M | $1.71M | $2.22M | $2.17M |
| Current liabilities | $18.63M | $15.29M | $13.77M | $12.81M | $6.02M | $3.54M | $2.64M | $1.12M | $2.12M | $1.39M |
| Short-term debt | - | - | $580.4K | - | - | - | $0 | - | - | - |
| Long-term debt | $45.97M | $30.69M | $9.11M | - | - | $0 | $1.50M | $0 | $0 | $1.20M |
| Total debt | $45.97M | $30.69M | $9.69M | - | - | $0 | $1.50M | $0 | $0 | $1.20M |
| Total liabilities | $67.01M | $49.18M | $29.28M | $19.32M | $6.24M | $3.99M | $4.72M | $1.12M | $2.12M | $2.59M |
| Shareholders' equity | $5.94M | $38.91M | $44.59M | $41.72M | $30.15M | $5.84M | $6.39M | $586.8K | $102.5K | -$423.1K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.79M | -$23.8K | -$3.25M | -$5.55M | -$4.81M | -$4.03M | -$2.17M | $277.1K | -$139.9K | $409.2K |
| Capital expenditures | $4.63M | $205.8K | $265.2K | $147.0K | $171.9K | $544.4K | $182.8K | $8.5K | $43.9K | $3.0K |
| Free cash flow | $2.16M | -$229.6K | -$3.51M | -$5.70M | -$4.99M | -$4.58M | -$2.35M | $268.7K | -$183.8K | $406.2K |
| Investing cash flow | -$14.97M | -$6.61M | -$10.21M | -$3.51M | -$5.28M | -$2.74M | -$1.20M | -$8.5K | -$85.9K | -$3.0K |
| Financing cash flow | $8.89M | $17.37M | $9.64M | -$627.3K | $28.30M | $622.3K | $9.80M | $0 | -$144.6K | $244.9K |
| Stock-based compensation | $5.15M | $4.44M | $3.44M | $2.70M | $2.67M | $1.40M | $0 | - | - | - |
| Depreciation and amortization | $3.95M | $4.92M | $3.68M | $2.37M | $597.0K | $291.4K | $120.0K | $83.9K | $80.6K | $60.9K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 19.0% | 33.4% | 41.8% | 89.9% | 54.9% | 32.5% | 101.6% | -7.4% | 14.5% | 63.3% |
| Gross margin | 92.7% | 90.6% | 87.9% | 86.1% | 90.4% | 89.6% | 89.7% | 91.3% | 87.2% | 82.9% |
| Operating margin | 7.1% | 1.5% | -6.5% | -27.3% | -30.6% | -32.3% | -23.3% | -8.6% | 1.9% | -4.9% |
| Net margin | -36.4% | -11.2% | -6.6% | -17.3% | -32.8% | -28.5% | -23.9% | -10.3% | 5.3% | -7.5% |
| Free cash flow margin | 2.1% | -0.3% | -5.4% | -12.4% | -20.7% | -29.4% | -20.0% | 4.6% | -2.9% | 7.4% |
| Return on equity | -632.5% | -24.8% | -9.7% | -19.0% | -26.3% | -76.1% | -44.0% | -102.3% | 323.1% | - |
| Return on assets | -51.5% | -11.0% | -5.8% | -13.0% | -21.8% | -45.2% | -25.3% | -35.1% | 14.9% | -19.1% |
| Current ratio | 1.80 | 2.18 | 1.38 | 1.61 | 4.09 | 1.27 | 3.35 | 1.51 | 0.96 | 1.43 |
| Debt to equity | 7.74 | 0.79 | 0.22 | - | - | 0.00 | 0.23 | 0.00 | 0.00 | - |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.14M | $27.80M | $27.55M | $26.33M | $25.80M | $23.43M | $26.31M | $21.67M | $20.16M | $18.54M | $17.69M | $16.02M |
| Cost of revenue | $1.98M | $1.92M | $1.87M | $1.87M | $1.94M | $1.83M | $2.25M | $1.99M | $2.01M | $1.89M | $1.79M | $1.75M |
| Gross profit | $26.16M | $25.87M | $25.67M | $24.46M | $23.87M | $21.60M | $24.06M | $19.68M | $18.15M | $16.65M | $15.90M | $14.27M |
| Research and development | $1.15M | $759.6K | $2.04M | $1.03M | $1.06M | $950.4K | $883.4K | $783.8K | $985.7K | $946.3K | $651.5K | $986.5K |
| Selling, general and admin | $22.60M | $21.88M | $20.08M | $19.88M | $19.63M | $19.13M | $20.22M | $17.42M | $18.96M | $16.19M | $16.34M | $13.88M |
| Operating income | $1.78M | $2.65M | $1.05M | $2.94M | $2.49M | $825.5K | $2.26M | $778.5K | -$2.88M | -$1.53M | -$226.0K | -$906.7K |
| Interest expense | $1.81M | $1.80M | $1.83M | $1.82M | $1.79M | $1.32M | $1.29M | $927.6K | $644.3K | $267.3K | $287.5K | $188.3K |
| Pre-tax income | - | - | - | - | - | - | - | - | - | - | -$262.4K | -$1.09M |
| Net income | -$452.9K | $458.6K | -$1.61M | -$30.41M | -$2.01M | -$3.53M | -$1.54M | -$2.86M | -$3.53M | -$1.80M | -$237.2K | -$1.06M |
| EPS, basic | -$0.05 | $0.05 | -$0.20 | -$3.52 | -$0.23 | -$0.41 | -$0.18 | -$0.34 | -$0.41 | -$0.21 | -$0.03 | -$0.13 |
| EPS, diluted | -$0.05 | $0.05 | -$0.32 | -$3.40 | -$0.23 | -$0.41 | -$0.18 | -$0.34 | -$0.41 | -$0.21 | -$0.03 | -$0.13 |
| Diluted shares | 8.7M | 9.0M | - | 8.9M | 8.9M | 8.6M | - | 8.5M | 8.5M | 8.4M | - | 8.3M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.42M | $13.59M | $16.58M | $14.94M | $16.96M | $20.69M | $15.88M | $16.28M | $6.15M | $2.83M | $5.15M | $6.24M |
| Receivables | $12.57M | $13.62M | $12.00M | - | - | - | - | - | - | - | - | - |
| Inventory | $3.46M | $3.12M | $3.95M | $3.39M | $3.51M | $3.16M | $2.75M | $3.01M | $3.56M | $4.23M | $4.72M | $5.02M |
| Current assets | $32.20M | $31.20M | $33.54M | $31.23M | $33.67M | $36.84M | $33.31M | $31.91M | $20.81M | $17.19M | $19.01M | $19.38M |
| Goodwill | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M | $3.60M |
| Total assets | $69.15M | $69.28M | $72.94M | $71.09M | $98.77M | $96.38M | $88.09M | $88.55M | $73.38M | $70.91M | $73.87M | $73.87M |
| Current liabilities | $12.49M | $13.70M | $18.63M | $17.36M | $14.88M | $13.28M | $15.29M | $14.34M | $11.57M | $12.75M | $13.77M | $13.23M |
| Short-term debt | - | - | - | - | - | - | - | - | - | $3.00M | $580.4K | $232.1K |
| Long-term debt | $46.48M | $46.23M | $45.97M | $45.09M | $44.22M | $43.40M | $30.69M | $30.08M | $14.37M | $8.77M | $9.11M | $9.46M |
| Total debt | $46.48M | $46.23M | $45.97M | $45.09M | $44.22M | $43.40M | $30.69M | $30.08M | $14.37M | $11.77M | $9.69M | $9.69M |
| Total liabilities | $61.21M | $62.26M | $67.01M | $64.95M | $63.38M | $59.71M | $49.18M | $49.09M | $31.98M | $27.90M | $29.28M | $31.38M |
| Shareholders' equity | $7.94M | $7.02M | $5.94M | $6.15M | $35.39M | $36.67M | $38.91M | $39.45M | $41.40M | $43.01M | $44.59M | $44.10M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.04M | -$2.47M | $3.95M | $2.18M | $2.66M | -$2.00M | $932.0K | $2.05M | -$1.41M | -$1.59M | -$848.5K | $1.06M |
| Capital expenditures | $5.3K | $43.8K | $82.2K | $1.06M | $1.76M | $1.72M | $72.2K | $9.1K | $58.8K | $65.8K | $54.3K | $170.3K |
| Free cash flow | $2.03M | -$2.51M | $3.86M | $1.12M | $902.7K | -$3.72M | $859.9K | $2.04M | -$1.47M | -$1.66M | -$902.8K | $893.8K |
| Investing cash flow | -$5.3K | -$43.8K | -$2.45M | -$3.42M | -$3.93M | -$5.18M | -$130.0K | -$6.36M | -$58.8K | -$65.8K | -$54.3K | -$10.11M |
| Financing cash flow | -$206.5K | -$475.2K | $139.4K | -$774.7K | -$2.47M | $11.99M | -$1.20M | $14.43M | $4.79M | -$658.8K | -$185.9K | $9.22M |
| Stock-based compensation | $1.50M | $1.03M | $1.18M | $1.23M | $1.44M | $1.30M | $1.20M | $1.03M | $1.41M | $803.4K | $860.6K | $857.5K |
| Depreciation and amortization | $619.1K | $587.3K | $668.4K | $610.9K | $688.5K | $1.12M | $1.61M | $696.9K | $1.11M | $1.11M | $1.09M | $997.7K |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 9.0% | 18.6% | 4.7% | 21.5% | 28.0% | 26.4% | 48.7% | 35.2% | 28.0% | 19.4% | 15.5% | 22.8% |
| Gross margin | 93.0% | 93.1% | 93.2% | 92.9% | 92.5% | 92.2% | 91.4% | 90.8% | 90.0% | 89.8% | 89.9% | 89.1% |
| Operating margin | 6.3% | 9.5% | 3.8% | 11.2% | 9.6% | 3.5% | 8.6% | 3.6% | -14.3% | -8.3% | -1.3% | -5.7% |
| Net margin | -1.6% | 1.6% | -5.8% | -115.5% | -7.8% | -15.1% | -5.8% | -13.2% | -17.5% | -9.7% | -1.3% | -6.6% |
| Free cash flow margin | 7.2% | -9.0% | 14.0% | 4.2% | 3.5% | -15.9% | 3.3% | 9.4% | -7.3% | -9.0% | -5.1% | 5.6% |
| Current ratio | 2.58 | 2.28 | 1.80 | 1.80 | 2.26 | 2.77 | 2.18 | 2.23 | 1.80 | 1.35 | 1.38 | 1.46 |
| Debt to equity | 5.85 | 6.59 | 7.74 | 7.33 | 1.25 | 1.18 | 0.79 | 0.76 | 0.35 | 0.27 | 0.22 | 0.22 |
Source: XBRL data Sanara MedTech Inc. files with the SEC, latest filing dated Aug 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| SMTI | $109.81M | +13.0% | -$32.02M | -29.2% | $289.8M |
| ISRG | $11.58B | +20.5% | $2.96B | 25.5% | $156.96B |
| EW | $6.67B | +13.4% | $1.02B | 15.3% | $58.73B |
| STE | $6.17B | +8.1% | $826.90M | 13.4% | $24.60B |
| ZBH | $8.57B | +7.0% | $767.30M | 9.0% | $19.98B |
| MAS | $7.67B | +0.9% | $926.00M | 12.1% | $15.85B |
| SNN | $6.16B | +6.1% | $625.00M | 10.1% | $13.04B |
| ALGN | $4.16B | +4.4% | $491.87M | 11.8% | $11.70B |
| AIT | $5.06B | +8.5% | $424.12M | 8.4% | $10.35B |