Sanara MedTech Inc
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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FY2023 · Filed Mar 25, 2024
SMTI$32.10+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Year Ended | ||
|---|---|---|
| December 31, | ||
| 2023 | 2022 | |
| Net Revenue | $64,989,842 | $45,842,845 |
| Cost of goods sold | 7,852,686 | 6,360,851 |
| Gross profit | 57,137,156 | 39,481,994 |
| Operating expenses | ||
| Selling, general and administrative expenses | 56,994,753 | 45,976,328 |
| Research and development | 4,132,425 | 3,367,032 |
| Depreciation and amortization | 3,675,026 | 2,371,068 |
| Change in fair value of earnout liabilities | (3,449,895) | 284,746 |
| Total operating expenses | 61,352,309 | 51,999,174 |
| Operating loss | (4,215,153) | (12,517,180) |
| Other income (expense) | ||
| Interest expense and other | (475,783) | - |
| Share of losses from equity method investment | - | (379,633) |
| Gain (loss) on disposal of investment | 251,034 | (1,040,311) |
| Total other income (expense) | (224,749) | (1,419,944) |
| Loss before income taxes | (4,439,902) | (13,937,124) |
| Income tax benefit | - | 5,844,796 |
| Net loss | (4,439,902) | (8,092,328) |
| Less: Net loss attributable to noncontrolling interest | (136,705) | (154,831) |
| Net loss attributable to Sanara MedTech shareholders | $(4,303,197) | $(7,937,497) |
| Net loss per share of common stock, basic and diluted | $(0.52) | $(1.00) |
| Weighted average number of common shares outstanding, basic and diluted | 8,278,949 | 7,906,794 |
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