Sanara MedTech Inc. (NASDAQ:SMTI) Q4 2022 Earnings Conference Call March 21, 2023 9:00 AM ET

Company Participants

Callon Nichols - Director, Investor Relations

Ron Nixon - Chairman

Zachary Fleming - Chief Executive Officer

Mike McNeil - Chief Financial Officer

Conference Call Participants

Ross Osborn - Cantor Fitzgerald

Ian Cassel - IFCM

Chris Plahm - Tall Pines Capital

Operator

Greetings and welcome to the Sanara MedTech Incorporated Fourth Quarter and 2022 Full Year Results and Business Update Call. At this time, all participants are in a listen -only mode and a question -and-answer session will follow the formal presentation. [Operator Instructions]

I will now turn the conference over to your host Mr. Callon Nichols. You may begin.

Callon Nichols

Thank you, and good morning, everyone. I'd like to welcome you to Sanara MedTech's earnings conference call for the quarter and year ended December 31st, 2022. We issued our earnings release yesterday afternoon. And I would also like to highlight that we have posted today's deck on the Investor Relations page of our website. This supplemental deck as well as a copy of the earnings release and Form 10-K for the year ended December 31st, 2022 are available on this page.

We will reference this information in our remarks today. We expect today's prepared comments from Ron Nixon, Executive Chairman; Zach Fleming, Chief Executive Officer; and Mike McNeil, Chief financial Officer, to last approximately 15 minutes to allow time for Q&A.

Certain statements in this conference call and in our press release and in our supplemental deck, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For more information about the risks and uncertainties involving forward-looking statements and factors that could cause actual results to vary materially from those projected or implied by forward-looking statements, please see our most recent annual report on Form 10-K.

Now I'd like to turn the call over to Ron.

Ron Nixon

Thank you, Callon, and good morning, everyone.

In 2022, Sanara generated $45.8 million in net revenue, representing a 90% increase in the -- from the prior year period. Fourth quarter of 2022 was another record year -- record quarter for Sanara as well as for our historical business lines prior to acquiring Scendia.

In the fourth quarter, the company generated $15.3 million in net revenue and it was the first quarter during which the company generated over $5 million in net revenue in a single month. We continued to see strong growth in Cellerate sales as well as the sales from the products we licensed from Cook Biotech.