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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash $ 5,147,216 $ 8,958,995
Royalty receivable 49,344 99,594
Inventory, net 4,717,533 3,549,000
Prepaid and other assets 608,411 1,104,611
Total current assets 19,005,869 20,616,509
Long-term assets    
Intangible assets, net 44,926,061 31,509,980
Goodwill 3,601,781 3,601,781
Investment in equity securities 3,084,278 3,084,278
Right of use assets – operating leases 1,995,204 806,402
Property and equipment, net 1,257,956 1,416,436
Total long-term assets 54,865,280 40,418,877
Total assets 73,871,149 61,035,386
Current liabilities    
Accrued bonuses and commissions 7,676,770 7,758,284
Accrued royalties and expenses 2,047,678 2,144,475
Earnout liabilities – current 1,100,000 1,162,880
Current portion of debt 580,357
Operating lease liabilities – current 361,185 313,933
Total current liabilities 13,767,877 12,806,309
Long-term liabilities    
Long-term debt, net of current portion 9,113,123
Earnout liabilities – long-term 2,723,001 6,003,811
Operating lease liabilities – long-term 1,737,445 505,291
Other long-term liabilities 1,941,686
Total long-term liabilities 15,515,255 6,509,102
Total liabilities 29,283,132 19,315,411
Commitments and contingencies (Note 10)  
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,535,239 issued and outstanding as of December 31, 2023 and 8,299,957 issued and outstanding as of December 31, 2022 8,535 8,300
Additional paid-in capital 72,860,556 65,213,987
Accumulated deficit (28,036,814) (23,394,757)
Total Sanara MedTech shareholders’ equity 44,832,277 41,827,530
Equity attributable to noncontrolling interest (244,260) (107,555)
Total shareholders’ equity 44,588,017 41,719,975
Total liabilities and shareholders’ equity 73,871,149 61,035,386
Nonrelated Party [Member]    
Current assets    
Accounts receivable 8,474,965 6,805,761
Current liabilities    
Accounts payable 1,924,082 1,392,701
Related Party [Member]    
Current assets    
Accounts receivable 8,400 98,548
Current liabilities    
Accounts payable $ 77,805 $ 34,036