SANARA MEDTECH Reports Second Quarter FY2023 Earnings Results for June 30 2023
August 18, 2023
🌥️Earnings Overview
On August 14 2023, SANARA MEDTECH ($NASDAQ:SMTI) announced their financial results for the second quarter of the fiscal year 2023, which ended on June 30th 2023 – revealing a great 62.9% increase in revenue compared to the same period last year, with a total of USD 15.8 million. Net income was also reported to have improved, from the -3.2 million reported in the same quarter of FY2022 to -1.8 million this quarter.
Stock Price
On Monday, SANARA MEDTECH stock opened at $45.5 and closed at $44.6, a decrease of 3.1% from the previous closing price of 46.0. This marks the fifth consecutive quarter that SANARA MEDTECH has seen a decrease in stock price. SANARA MEDTECH also announced that it is exploring several strategic initiatives to improve operational efficiency and drive shareholder value. These include increasing the focus on research and development, leveraging its strong distribution network, and expanding products into new markets. The earnings report also highlighted the company’s long-term commitment to growing its presence in the healthcare industry with its recently announced partnership with Archimedes Health Care Solutions.
The partnership aims to improve patient care and access to healthcare services. The company’s second quarter FY2023 earnings results demonstrate its dedication to driving growth and value for shareholders. With strong partnerships and a focus on innovation and efficiency, SANARA MEDTECH looks poised to continue on its upward trajectory and remain a leader in the healthcare industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sanara Medtech. More…
| Total Revenues | Net Income | Net Margin |
| 59.64 | -8.58 | -14.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sanara Medtech. More…
| Operations | Investing | Financing |
| -5.75 | -1.17 | 0.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sanara Medtech. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 58.28 | 17.31 | 4.88 |
Key Ratios Snapshot
Some of the financial key ratios for Sanara Medtech are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 67.2% | – | -17.1% |
| FCF Margin | ROE | ROA |
| -7.4% | -15.4% | -10.9% |
Analysis
At GoodWhale, we’ve conducted an in-depth analysis of SANARA MEDTECH‘s fundamentals. Our Risk Rating for this company is high, indicating that it may not be a suitable investment option for those looking for a low-risk option. Upon closer inspection, we have detected four risk warnings in SANARA MEDTECH’s income sheet, balance sheet, cash flow statement, and financial journal. These Red Flags point to potential financial and business risks that investors should be aware of. For those who want to take a deeper dive into the company’s overall financial and business performance, we invite you to visit our website and register with GoodWhale. We offer comprehensive reports that analyze SANARA MEDTECH’s performance in order to help investors make informed decisions. More…
Peers
The company has a strong product portfolio and a wide range of customers. The company’s competitors are ConvaTec Group PLC, Paramount Bed Holding Co Ltd, Airway Medix SA.
– ConvaTec Group PLC ($LSE:CTEC)
The ConvaTec Group PLC is a medical device company that focuses on the development and commercialization of products for people with chronic conditions, such as those with ostomies, incontinence, and diabetes. The company has a market capitalization of 4.72 billion as of 2022 and a return on equity of 4.96%. The ConvaTec Group PLC’s products are sold in over 100 countries around the world.
– Paramount Bed Holding Co Ltd ($TSE:7817)
Paramount Bed Holding Co., Ltd. engages in the manufacture and sale of hospital beds and medical equipment. The company offers hospital beds, electric beds, medical equipment, and medical furniture. It also provides consulting and technical services. The company was founded in 1946 and is headquartered in Tokyo, Japan.
– Airway Medix SA ($LTS:0RI2)
Airway Medix SA is a medical device company that focuses on the development and commercialization of novel solutions for the treatment of airway diseases. The company has a market cap of 18.28M as of 2022 and a Return on Equity of 10.49%. Airway Medix’s products are designed to improve the quality of life for patients suffering from airway diseases such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis. The company’s products are backed by a strong clinical evidence base and are supported by a team of experienced medical professionals.
Summary
Investors in SANARA MEDTECH experienced mixed results during the second quarter of the FY2023, ending on June 30, 2023. The company reported revenue of USD 15.8 million, which was a 62.9% jump from the same quarter of the previous year.
However, net income came in at USD -1.8 million, a slight improvement from the -3.2 million reported last year. Despite the strong top-line growth, the stock price moved down on the day of the earnings release, suggesting that investors may not be entirely pleased with the performance. Going forward, investors will look to see if the company can continue its momentum and succeed in improving its bottom line.
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