SCHEDULE OF OPERATIONS, ASSETS AND CAPITAL EXPENDITURES FOR OUR BUSINESS SEGMENTS |
The
following tables reflect results of operations, Segment EBITDA, segmented assets, and expenditures for long-lived assets for the
Company’s reportable segments for the periods indicated below:
SCHEDULE
OF OPERATIONS, ASSETS AND CAPITAL EXPENDITURES FOR OUR BUSINESS SEGMENTS
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
| |
Three Months Ended | |
| |
September 30, | |
| |
2024 | | |
2023 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
| |
| | |
| | |
| | |
| | |
| | |
| |
Net revenue | |
$ | 21,671,599 | | |
$ | - | | |
$ | 21,671,599 | | |
$ | 16,024,948 | | |
$ | - | | |
$ | 16,024,948 | |
Gross profit | |
| 19,679,612 | | |
| - | | |
| 19,679,612 | | |
| 14,273,599 | | |
| - | | |
| 14,273,599 | |
Selling, general and administrative expenses | |
| 17,420,346 | | |
| 1,572,909 | | |
| 18,993,255 | | |
| 13,460,404 | | |
| 417,475 | | |
| 13,877,879 | |
Research and development | |
| 783,840 | | |
| 575,690 | | |
| 1,359,530 | | |
| 225,886 | | |
| 760,568 | | |
| 986,454 | |
Depreciation and amortization | |
| 696,888 | | |
| 406,966 | | |
| 1,103,854 | | |
| 590,563 | | |
| 407,111 | | |
| 997,674 | |
Interest expense | |
| 927,577 | | |
| - | | |
| 927,577 | | |
| 188,294 | | |
| - | | |
| 188,294 | |
Net income (loss) | |
| (180,488 | ) | |
| (2,702,564 | ) | |
| (2,883,052 | ) | |
| 567,235 | | |
| (1,662,184 | ) | |
| (1,094,949 | ) |
Segment EBITDA | |
| 2,563,521 | | |
| (1,721,560 | ) | |
| 841,961 | | |
| 1,400,916 | | |
| (1,134,124 | ) | |
| 266,792 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Segment assets (at period end) (1) | |
$ | 67,037,973 | | |
$ | 21,507,503 | | |
$ | 88,545,476 | | |
$ | 45,715,495 | | |
$ | 28,155,654 | | |
$ | 73,871,149 | |
Expenditures for long-lived assets | |
$ | 9,096 | | |
$ | - | | |
$ | 9,096 | | |
$ | 170,320 | | |
$ | - | | |
$ | 170,320 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
| |
Nine Months Ended | |
| |
September 30, | |
| |
2024 | | |
2023 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
| |
| | |
| | |
| | |
| | |
| | |
| |
Net revenue | |
$ | 60,367,060 | | |
$ | - | | |
$ | 60,367,060 | | |
$ | 47,297,299 | | |
$ | 2,730 | | |
$ | 47,300,029 | |
Gross profit (loss) | |
| 54,476,341 | | |
| - | | |
| 54,476,341 | | |
| 41,241,740 | | |
| (6,235 | ) | |
| 41,235,505 | |
Selling, general and administrative expenses | |
| 51,453,311 | | |
| 2,689,811 | | |
| 54,143,122 | | |
| 39,229,030 | | |
| 1,429,394 | | |
| 40,658,424 | |
Research and development | |
| 1,945,263 | | |
| 1,346,216 | | |
| 3,291,479 | | |
| 669,849 | | |
| 2,811,057 | | |
| 3,480,906 | |
Depreciation and amortization | |
| 2,093,797 | | |
| 1,220,984 | | |
| 3,314,781 | | |
| 1,359,180 | | |
| 1,221,063 | | |
| 2,580,243 | |
Interest expense | |
| 1,839,259 | | |
| - | | |
| 1,839,259 | | |
| 188,300 | | |
| - | | |
| 188,300 | |
Net income (loss) | |
| (2,872,286 | ) | |
| (5,339,011 | ) | |
| (8,211,297 | ) | |
| 1,181,296 | | |
| (5,358,754 | ) | |
| (4,177,458 | ) |
Segment EBITDA | |
| 5,095,670 | | |
| (3,350,104 | ) | |
| 1,745,566 | | |
| 3,766,196 | | |
| (4,087,858 | ) | |
| (321,662 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Segment assets (at period end) (1) | |
$ | 67,037,973 | | |
$ | 21,507,503 | | |
$ | 88,545,476 | | |
$ | 45,715,495 | | |
$ | 28,155,654 | | |
$ | 73,871,149 | |
Expenditures for long-lived assets | |
$ | 133,676 | | |
$ | - | | |
$ | 133,676 | | |
$ | 210,970 | | |
$ | - | | |
$ | 210,970 | |
(1) | - Segment assets
for 2023 represent assets as of December 31, 2023. |
|
SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) TO SEGMENT EBITDA FOR REPORTABLE SEGMENTS |
The
following tables provide a reconciliation of net income (loss) to Segment 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 | |
| |
Three Months Ended | |
| |
September 30, | |
| |
2024 | | |
2023 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
Net Income (Loss) | |
$ | (180,488 | ) | |
$ | (2,702,564 | ) | |
$ | (2,883,052 | ) | |
$ | 567,235 | | |
$ | (1,662,184 | ) | |
$ | (1,094,949 | ) |
Adjustments: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| 927,577 | | |
| - | | |
| 927,577 | | |
| 188,294 | | |
| - | | |
| 188,294 | |
Depreciation and amortization | |
| 696,888 | | |
| 406,966 | | |
| 1,103,854 | | |
| 590,563 | | |
| 407,111 | | |
| 997,674 | |
Noncash share-based compensation | |
| 1,003,599 | | |
| 21,831 | | |
| 1,025,430 | | |
| 813,606 | | |
| 43,920 | | |
| 857,526 | |
Change in fair value of earnout liabilities | |
| - | | |
| 147,000 | | |
| 147,000 | | |
| (758,783 | ) | |
| 77,030 | | |
| (681,753 | ) |
Share of losses from equity method investment | |
| 31,448 | | |
| - | | |
| 31,448 | | |
| - | | |
| - | | |
| - | |
Executive
separation costs | |
| 59,685 | | |
| - | | |
| 59,685 | | |
| - | | |
| - | | |
| - | |
Acquisition costs | |
| 24,812 | | |
| 405,207 | | |
| 430,019 | | |
| - | | |
| - | | |
| - | |
Segment EBITDA | |
$ | 2,563,521 | | |
$ | (1,721,560 | ) | |
$ | 841,961 | | |
$ | 1,400,916 | | |
$ | (1,134,124 | ) | |
$ | 266,792 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
| |
Nine Months Ended | |
| |
September 30, | |
| |
2024 | | |
2023 | |
| |
Sanara Surgical | | |
THP | | |
Total | | |
Sanara Surgical | | |
THP | | |
Total | |
Net Income (Loss) | |
$ | (2,872,286 | ) | |
$ | (5,339,011 | ) | |
$ | (8,211,297 | ) | |
$ | 1,181,296 | | |
$ | (5,358,754 | ) | |
$ | (4,177,458 | ) |
Adjustments: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| 1,839,259 | | |
| - | | |
| 1,839,259 | | |
| 188,300 | | |
| - | | |
| 188,300 | |
Depreciation and amortization | |
| 2,093,797 | | |
| 1,220,984 | | |
| 3,314,781 | | |
| 1,359,180 | | |
| 1,221,063 | | |
| 2,580,243 | |
Noncash share-based compensation | |
| 2,803,536 | | |
| 108,031 | | |
| 2,911,567 | | |
| 2,423,335 | | |
| 158,828 | | |
| 2,582,163 | |
Change in fair value of earnout liabilities | |
| (14,451 | ) | |
| 82,000 | | |
| 67,549 | | |
| (1,385,914 | ) | |
| (108,996 | ) | |
| (1,494,910 | ) |
Share of losses from equity method investment | |
| 31,448 | | |
| - | | |
| 31,448 | | |
| - | | |
| - | | |
| - | |
Executive separation costs (1) | |
| 964,466 | | |
| - | | |
| 964,466 | | |
| - | | |
| - | | |
| - | |
Acquisition costs | |
| 249,901 | | |
| 577,892 | | |
| 827,793 | | |
| - | | |
| - | | |
| - | |
Segment EBITDA | |
$ | 5,095,670 | | |
$ | (3,350,104 | ) | |
$ | 1,745,566 | | |
$ | 3,766,196 | | |
$ | (4,087,858 | ) | |
$ | (321,662 | ) |
(1) | - Includes $328,795
of share-based compensation related to executive separation costs for the nine months ended September 30, 2024. |
|