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Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 2,828,234 $ 5,147,216
Royalty receivable 49,344
Inventory, net 4,229,150 4,717,533
Prepaid and other assets 911,594 608,411
Total current assets 17,186,779 19,005,869
Long-term assets    
Intangible assets, net 43,953,610 44,926,061
Goodwill 3,601,781 3,601,781
Investment in equity securities 3,084,278 3,084,278
Right of use assets – operating leases 1,894,687 1,995,204
Property and equipment, net 1,190,805 1,257,956
Total long-term assets 53,725,161 54,865,280
Total assets 70,911,940 73,871,149
Current liabilities    
Accrued bonuses and commissions 6,893,381 7,676,770
Accrued royalties and expenses 2,288,428 2,047,678
Earnout liabilities – current 979,488 1,100,000
Current portion of debt 928,571 580,357
Operating lease liabilities – current 377,273 361,185
Total current liabilities 12,746,073 13,767,877
Long-term liabilities    
Long-term debt, net of current portion 8,767,991 9,113,123
Earnout liabilities – long-term 2,777,835 2,723,001
Operating lease liabilities – long-term 1,626,130 1,737,445
Other long-term liabilities 1,982,345 1,941,686
Total long-term liabilities 15,154,301 15,515,255
Total liabilities 27,900,374 29,283,132
Commitments and contingencies (Note 8)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,622,739 issued and outstanding as of March 31, 2024 and 8,535,239 issued and outstanding as of December 31, 2023 8,623 8,535
Additional paid-in capital 73,180,208 72,860,556
Accumulated deficit (29,898,146) (28,036,814)
Total Sanara MedTech shareholders’ equity 43,290,685 44,832,277
Equity attributable to noncontrolling interest (279,119) (244,260)
Total shareholders’ equity 43,011,566 44,588,017
Total liabilities and shareholders’ equity 70,911,940 73,871,149
Nonrelated Party [Member]    
Current assets    
Accounts receivable 9,194,799 8,474,965
Current liabilities    
Accounts payable 1,191,816 1,924,082
Related Party [Member]    
Current assets    
Accounts receivable 23,002 8,400
Current liabilities    
Accounts payable $ 87,116 $ 77,805