XML 57 R35.htm IDEA: XBRL DOCUMENT
v3.25.1

SEGMENT REPORTING (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
SCHEDULE OF OPERATIONS, ASSETS AND CAPITAL EXPENDITURES FOR OUR BUSINESS SEGMENTS | The following table reflects results of operations including significant segment expenses that are regularly provided to the CODM for the Company’s reportable segments and Segment Adjusted EBITDA for the periods indicated below: SCHEDULE OF OPERATIONS, ASSETS AND CAPITAL EXPENDITURES FOR OUR BUSINESS SEGMENTS
|  | Sanara Surgical |  |  | THP |  |  | Total |  |  | Sanara Surgical |  |  | THP |  |  | Total |
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
|  | Sanara Surgical |  |  | THP |  |  | Total |  |  | Sanara Surgical |  |  | THP |  |  | Total |
Net revenue |  | $ | 86,672,425 |  |  | $ | - |  |  | $ | 86,672,425 |  |  | $ | 64,987,112 |  |  | $ | 2,730 |  |  | $ | 64,989,842 |
Gross profit (loss) |  |  | 78,532,524 |  |  |  | - |  |  |  | 78,532,524 |  |  |  | 57,143,391 |  |  |  | (6,235 | ) |  |  | 57,137,156 |
Selling, general and administrative |  |  | 71,673,642 |  |  |  | 4,886,221 |  |  |  | 76,559,863 |  |  |  | 54,826,852 |  |  |  | 2,167,901 |  |  |  | 56,994,753 |
Research and development |  |  | 2,828,663 |  |  |  | 2,874,699 |  |  |  | 5,703,362 |  |  |  | 902,782 |  |  |  | 3,229,643 |  |  |  | 4,132,425 |
Depreciation and amortization |  |  | 2,785,829 |  |  |  | 2,137,395 |  |  |  | 4,923,224 |  |  |  | 2,046,859 |  |  |  | 1,628,167 |  |  |  | 3,675,026 |
Change in fair value of earnout liabilities |  |  | (14,451 | ) |  |  | (1,924,000 | ) |  |  | (1,938,451 | ) |  |  | (1,298,336 | ) |  |  | (2,151,559 | ) |  |  | (3,449,895 | )
Other expense |  |  | 3,196,424 |  |  |  | - |  |  |  | 3,196,424 |  |  |  | 224,749 |  |  |  | - |  |  |  | 224,749 |
Net income (loss) |  | $ | (1,937,583 | ) |  | $ | (7,974,315 | ) |  | $ | (9,911,898 | ) |  | $ | 440,485 |  |  | $ | (4,880,387 | ) |  | $ | (4,439,902 | )
Segment Adjusted EBITDA |  | $ | 9,148,722 |  |  | $ | (6,457,415 | ) |  | $ | 2,691,307 |  |  | $ | 5,289,634 |  |  | $ | (5,162,387 | ) |  | $ | 127,247 |
SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) TO SEGMENT EBITDA FOR REPORTABLE SEGMENTS | The following table provides a reconciliation of net income (loss) to Segment Adjusted EBITDA for the Company’s reportable segments for the periods indicated below: SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) TO SEGMENT EBITDA FOR REPORTABLE SEGMENTS
|  | Sanara Surgical |  |  | THP |  |  | Total |  |  | Sanara Surgical |  |  | THP |  |  | Total |
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
|  | Sanara Surgical |  |  | THP |  |  | Total |  |  | Sanara Surgical |  |  | THP |  |  | Total |
Net Income (Loss) |  | $ | (1,937,583 | ) |  | $ | (7,974,315 | ) |  | $ | (9,911,898 | ) |  | $ | 440,485 |  |  | $ | (4,880,387 | ) |  | $ | (4,439,902 | )
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 3,128,395 |  |  |  | - |  |  |  | 3,128,395 |  |  |  | 475,783 |  |  |  | - |  |  |  | 475,783 |
Interest income |  |  | (21,978 | ) |  |  | - |  |  |  | (21,978 | ) |  |  | - |  |  |  | - |  |  |  | - |
Depreciation and amortization (1) |  |  | 2,785,829 |  |  |  | 2,137,395 |  |  |  | 4,923,224 |  |  |  | 2,046,859 |  |  |  | 1,628,167 |  |  |  | 3,675,026 |
Noncash share-based compensation |  |  | 3,969,008 |  |  |  | 138,245 |  |  |  | 4,107,253 |  |  |  | 3,201,330 |  |  |  | 241,392 |  |  |  | 3,442,722 |
Change in fair value of earnout liabilities |  |  | (14,451 | ) |  |  | (1,924,000 | ) |  |  | (1,938,451 | ) |  |  | (1,298,336 | ) |  |  | (2,151,559 | ) |  |  | (3,449,895 | )
Share of losses from equity method investments |  |  | 90,007 |  |  |  | - |  |  |  | 90,007 |  |  |  | - |  |  |  | - |  |  |  | - |
Executive separation costs (2) |  |  | 964,466 |  |  |  | - |  |  |  | 964,466 |  |  |  | - |  |  |  | - |  |  |  | - |
Acquisition costs (3) |  |  | 185,029 |  |  |  | 1,165,260 |  |  |  | 1,350,289 |  |  |  | 423,513 |  |  |  | - |  |  |  | 423,513 |
Segment Adjusted EBITDA |  | $ | 9,148,722 |  |  | $ | (6,457,415 | ) |  | $ | 2,691,307 |  |  | $ | 5,289,634 |  |  | $ | (5,162,387 | ) |  | $ | 127,247 |
| (1) | Includes a $506,836 non-cash charge during the fourth quarter of 2024 to write-off the remaining net book value of certain THP internal use software assets.
| (2) | Includes $328,795 of share-based compensation related to executive separation costs for the twelve months ended December 31, 2024.
| (3) | Acquisition costs include legal, tax and accounting services related to prospective acquisitions.

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration