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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 15,878,295 $ 5,147,216
Royalty receivable 49,344
Inventory, net 2,753,032 4,717,533
Convertible loan receivable 1,101,478
Prepaid and other assets 1,123,798 608,411
Total current assets 33,305,988 19,005,869
Long-term assets    
Intangible assets, net 41,006,776 44,926,061
Goodwill 3,601,781 3,601,781
Investment in equity securities 8,297,223 3,084,278
Right of use assets – operating leases 1,447,907 1,995,204
Property and equipment, net 432,317 1,257,956
Total long-term assets 54,786,004 54,865,280
Total assets 88,091,992 73,871,149
Current liabilities    
Accrued bonuses and commissions 10,778,840 7,676,770
Accrued royalties and expenses 2,621,867 2,047,678
Earnout liabilities – current 1,100,000
Current portion of debt 580,357
Operating lease liabilities – current 358,687 361,185
Total current liabilities 15,290,071 13,767,877
Long-term liabilities    
Long-term debt, net of current portion 30,689,290 9,113,123
Earnout liabilities – long-term 748,001 2,723,001
Operating lease liabilities – long-term 1,237,051 1,737,445
Other long-term liabilities 1,215,617 1,941,686
Total long-term liabilities 33,889,959 15,515,255
Total liabilities 49,180,030 29,283,132
Commitments and contingencies (Note 9)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,753,773 issued and outstanding as of December 31, 2024 and 8,535,239 issued and outstanding as of December 31, 2023 8,754 8,535
Additional paid-in capital 77,179,211 72,860,556
Accumulated deficit (37,784,392) (28,036,814)
Total Sanara MedTech shareholders’ equity 39,403,573 44,832,277
Equity attributable to noncontrolling interest (491,611) (244,260)
Total shareholders’ equity 38,911,962 44,588,017
Total liabilities and shareholders’ equity 88,091,992 73,871,149
Nonrelated Party [Member]    
Current assets    
Accounts receivable 12,408,819 8,474,965
Current liabilities    
Accounts payable 1,499,764 1,924,082
Related Party [Member]    
Current assets    
Accounts receivable 40,566 8,400
Current liabilities    
Accounts payable $ 30,913 $ 77,805