Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jul 30, 2026
Sanara Medtech Inc. (SMTI)
A forensic read on Sanara Medtech Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
3.0
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-7.0
P / E (ttm)
-632.5%
ROE
$277M
Market cap
0.00%
Dividend yield
19.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Sanara Medtech Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 3.0, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
54d DSO
FY2021→FY2022
Receivables vs revenue.Days sales outstanding moved from 43 to 54 days FY2021→FY2022 (receivables +138% vs revenue +90%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. There's no FY2020 figure on file for receivables, so FY2021 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
+2.9%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +9% over the last 3 years to FY2025 (+2.9%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. Note: the share count shows a large one-time jump around FY2017, consistent with a reverse split or bankruptcy reorg rather than gradual buybacks, so the earlier shrinkage doesn't reflect real repurchase discipline. That's ~2.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~8%.
5% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 5% of revenue and 239% of free cash flow in FY2025 — about $0.60 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
stopped
FY2019→FY2020
Shareholder returns — halted.Capital returns have STOPPED — $1,061 of buybacks + dividends in FY2019, but ~$0 in FY2020. A halt usually means the company is conserving cash; understand why before reading it as neutral.
Key fundamentals
Latest Revenue$103.1M
Revenue Growth YoY+19.0%
Revenue CAGR (3yr)+31.0%
Net Margin-36.4%
Free Cash Flow$2.2M
Return on Equity-632.5%
Debt / Equity7.74x
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Sanara Medtech Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about SMTI's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown