Filing Flows › Sanara MedTech (SMTI) › Q3 2025
Sanara MedTech (SMTI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Sanara MedTech (SMTI) reported revenue of $26.3M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +2% from the quarter before. Operating margin was 11.2%, net loss $30.4M (115.5% of revenue).
Sanara MedTech, Q3 2025: revenue $26.3M (+22% year over year), operating margin 11.2%, net loss $30.4M, operating cash flow $2.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.3M | +2% | +22% |
| Operating profit | $2.9M | — | — |
| Net earnings | −$30.4M | — | — |
| Operating cash flow | $2.2M | -18% | +6% |
| Free cash flow | $1.1M | +24% | -45% |
What changed
Revenue was $26.3M in Q3 2025, up 22% year over year and up 2% from the previous quarter. Soft Tissue Repair Products was the largest line at 89% of revenue. Soft Tissue Repair Products added $4.6M year over year (up 24%), 98% of the total change.
Gross margin was 92.9%, up 2.1 points from a year earlier. Operating profit was $2.9M, a 11.2% margin (up 7.6 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 4% margin then. Operating expenses grew 14% against revenue growth of 22%. The fastest-growing cost line was Research & development (+31%). The quarter ended with a net loss of $30.4M, wider than the previous quarter's $2.0M loss. Net interest and other expense of $33.4M was the main reason.
Operating cash flow was $2.2M (up 6% year over year). Non-cash charges added back $1.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $30.3M. Capital expenditures of $1.1M left free cash flow of $1.1M.
Questions
What was Sanara MedTech's revenue in the third quarter 2025?
Sanara MedTech (SMTI) reported revenue of $26.3M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +2% from the quarter before.
Was Sanara MedTech profitable in the third quarter 2025?
Operating profit was $2.9M (11.2% of revenue) and net loss $30.4M.
Source: Sanara MedTech 10-Q on SEC EDGAR.