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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and Sanara MedTech Inc. (SMTI). Click either name above to swap in a different company.
ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $27.5M, roughly 2.3× Sanara MedTech Inc.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 4.6%). Sanara MedTech Inc. produced more free cash flow last quarter ($3.9M vs $-2.0M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 21.8%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Sanara MedTech Inc. is a US-based medical technology company that develops, manufactures, and distributes innovative surgical, wound care, and post-acute rehabilitation products. It mainly serves healthcare providers, hospitals, and long-term care facilities across North America, with a portfolio of FDA-cleared solutions designed to improve patient outcomes and lower clinical care operational costs.
ESTA vs SMTI — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $27.5M |
| Net Profit | — | $-1.6M |
| Gross Margin | 70.5% | 93.2% |
| Operating Margin | -6.1% | 23.5% |
| Net Margin | — | -5.9% |
| Revenue YoY | 45.2% | 4.6% |
| Net Profit YoY | — | 5.3% |
| EPS (diluted) | $-0.07 | $-0.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $64.6M | $27.5M | ||
| Q3 25 | $53.8M | $26.3M | ||
| Q2 25 | $51.3M | $25.8M | ||
| Q1 25 | $41.4M | $23.4M | ||
| Q4 24 | $44.5M | $26.3M | ||
| Q3 24 | $40.2M | $21.7M | ||
| Q2 24 | $44.1M | $20.2M | ||
| Q1 24 | $37.2M | $18.5M |
| Q4 25 | — | $-1.6M | ||
| Q3 25 | $-11.1M | $-30.4M | ||
| Q2 25 | $-16.6M | $-2.0M | ||
| Q1 25 | $-20.7M | $-3.5M | ||
| Q4 24 | — | $-1.7M | ||
| Q3 24 | $-16.7M | $-2.9M | ||
| Q2 24 | $-17.2M | $-3.5M | ||
| Q1 24 | $-16.2M | $-1.8M |
| Q4 25 | 70.5% | 93.2% | ||
| Q3 25 | 70.1% | 92.9% | ||
| Q2 25 | 68.8% | 92.5% | ||
| Q1 25 | 67.2% | 92.2% | ||
| Q4 24 | 68.5% | 91.4% | ||
| Q3 24 | 63.9% | 90.8% | ||
| Q2 24 | 65.6% | 90.0% | ||
| Q1 24 | 65.6% | 89.8% |
| Q4 25 | -6.1% | 23.5% | ||
| Q3 25 | -7.5% | 11.2% | ||
| Q2 25 | -27.5% | -0.1% | ||
| Q1 25 | -41.0% | -8.9% | ||
| Q4 24 | -41.9% | 18.6% | ||
| Q3 24 | -32.7% | 3.6% | ||
| Q2 24 | -21.2% | -14.3% | ||
| Q1 24 | -23.8% | -8.3% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | -20.7% | -115.5% | ||
| Q2 25 | -32.3% | -7.8% | ||
| Q1 25 | -50.1% | -15.1% | ||
| Q4 24 | — | -6.5% | ||
| Q3 24 | -41.5% | -13.2% | ||
| Q2 24 | -38.9% | -17.4% | ||
| Q1 24 | -43.6% | -9.5% |
| Q4 25 | $-0.07 | $-0.32 | ||
| Q3 25 | $-0.38 | $-3.40 | ||
| Q2 25 | $-0.57 | $-0.23 | ||
| Q1 25 | $-0.70 | $-0.41 | ||
| Q4 24 | $-1.21 | $-0.18 | ||
| Q3 24 | $-0.59 | $-0.34 | ||
| Q2 24 | $-0.62 | $-0.41 | ||
| Q1 24 | $-0.58 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $16.6M |
| Total DebtLower is stronger | — | $46.0M |
| Stockholders' EquityBook value | $23.5M | $5.9M |
| Total Assets | $357.2M | $72.9M |
| Debt / EquityLower = less leverage | — | 7.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $16.6M | ||
| Q3 25 | $70.6M | $14.9M | ||
| Q2 25 | $54.6M | $17.0M | ||
| Q1 25 | $69.2M | $20.7M | ||
| Q4 24 | $90.3M | $15.9M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | — | $6.2M | ||
| Q1 24 | — | $2.8M |
| Q4 25 | — | $46.0M | ||
| Q3 25 | — | $45.1M | ||
| Q2 25 | — | $44.2M | ||
| Q1 25 | — | $43.4M | ||
| Q4 24 | $0 | $30.7M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $14.4M | ||
| Q1 24 | — | $9.7M |
| Q4 25 | $23.5M | $5.9M | ||
| Q3 25 | $16.4M | $6.1M | ||
| Q2 25 | $22.8M | $35.4M | ||
| Q1 25 | $38.5M | $36.7M | ||
| Q4 24 | $53.1M | $39.4M | ||
| Q3 24 | $32.7M | $39.8M | ||
| Q2 24 | $45.0M | $41.7M | ||
| Q1 24 | $56.9M | $43.3M |
| Q4 25 | $357.2M | $72.9M | ||
| Q3 25 | $338.9M | $71.1M | ||
| Q2 25 | $329.7M | $98.8M | ||
| Q1 25 | $333.4M | $96.4M | ||
| Q4 24 | $346.8M | $88.1M | ||
| Q3 24 | $282.7M | $88.5M | ||
| Q2 24 | $285.1M | $73.4M | ||
| Q1 24 | $301.8M | $70.9M |
| Q4 25 | — | 7.74× | ||
| Q3 25 | — | 7.33× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | 0.00× | 0.78× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.22× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-162.0K | $3.9M |
| Free Cash FlowOCF − Capex | $-2.0M | $3.9M |
| FCF MarginFCF / Revenue | -3.1% | 14.0% |
| Capex IntensityCapex / Revenue | 2.8% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $2.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $3.9M | ||
| Q3 25 | $-11.3M | $2.2M | ||
| Q2 25 | $-18.8M | $2.7M | ||
| Q1 25 | $-20.7M | $-2.0M | ||
| Q4 24 | $-20.7M | $932.0K | ||
| Q3 24 | $-12.5M | $2.1M | ||
| Q2 24 | $-14.2M | $-1.4M | ||
| Q1 24 | $-11.2M | $-1.6M |
| Q4 25 | $-2.0M | $3.9M | ||
| Q3 25 | $-13.1M | $1.1M | ||
| Q2 25 | $-20.4M | $902.7K | ||
| Q1 25 | $-21.5M | $-3.7M | ||
| Q4 24 | $-21.3M | $859.9K | ||
| Q3 24 | $-13.9M | $2.0M | ||
| Q2 24 | $-15.0M | $-1.5M | ||
| Q1 24 | $-14.5M | $-1.7M |
| Q4 25 | -3.1% | 14.0% | ||
| Q3 25 | -24.4% | 4.2% | ||
| Q2 25 | -39.7% | 3.5% | ||
| Q1 25 | -51.9% | -15.9% | ||
| Q4 24 | -47.8% | 3.3% | ||
| Q3 24 | -34.6% | 9.4% | ||
| Q2 24 | -33.9% | -7.3% | ||
| Q1 24 | -38.9% | -9.0% |
| Q4 25 | 2.8% | 0.3% | ||
| Q3 25 | 3.4% | 4.0% | ||
| Q2 25 | 3.2% | 6.8% | ||
| Q1 25 | 1.8% | 7.4% | ||
| Q4 24 | 1.2% | 0.3% | ||
| Q3 24 | 3.7% | 0.0% | ||
| Q2 24 | 1.8% | 0.3% | ||
| Q1 24 | 8.9% | 0.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
SMTI
| Soft Tissue Repair Products | $24.7M | 90% |
| Bone Fusion Products | $2.8M | 10% |
