SANUWAVE Health (SNWV) Company Report

Sanuwave Health announced preliminary Q4 2025 revenues are expected to be between $13.3 million and $13.4 million, which represents the highest quarterly revenues in company history.
This preliminary Q4 2025 revenue indicates a 29% to 30% increase year-over-year compared to Q4 2024.
For the Full Year 2025, preliminary revenues reached $44.3 million to $44.4 million, an increase of 36% over Full Year 2024, setting an all-time annual record for the company.

Jan 9, 2026, 10:00 AM

Sanuwave Reports Record Q3 2025 Revenue and Net Income, Provides Strong Q4 Guidance

SNWV

Earnings

Guidance Update

Revenue Acceleration/Inflection

Sanuwave achieved record Q3 2025 revenue of $11.5 million, marking a 22% increase year-over-year, and record applicator revenue of $6.8 million.
The company reported net income of $10.3 million for Q3 2025, an increase of $31 million compared to a net loss in Q3 2024, primarily due to a $6.1 million non-cash gain from derivative liabilities and a $5 million gain from a patent sale.
Sanuwave refinanced its debt, reducing it from approximately $29 million to $24 million and lowering the interest rate from 19.5% to SOFR plus 350 (currently about 7.63%), which has alleviated substantial doubt about its ability to continue as a going concern for at least 12 months.
For Q4 2025, the company is guiding to revenues of $13-$14 million, representing a 26%-36% year-on-year increase and another all-time high.

Nov 7, 2025, 1:30 PM

SANUWAVE Health, Inc. Announces Q3 FY2025 Financial Results

SNWV

Earnings

Guidance Update

Revenue Acceleration/Inflection

SANUWAVE Health, Inc. reported record Q3 2025 revenues of $11.5 million, representing a 22% increase from $9.4 million in Q3 2024.
The company's gross margin for Q3 2025 was 77.9%, an increase from 75.5% in Q3 2024.
Net income for Q3 2025 was $10.3 million, a significant improvement compared to a net loss of $20.7 million in Q3 2024, primarily due to a $6.1 million non-cash gain from the change in fair value of derivative liabilities and a $5.0 million payment from the sale of certain shockwave patents.
GAAP Operating Income for Q3 2025 was $1.5 million, down from $2.0 million in Q3 2024, with Q3 2025 including $1.4 million in stock-based compensation costs.
The company provided Q4 2025 revenue guidance of $13-$14 million and full-year 2025 revenue guidance of $44-$45 million.

Nov 7, 2025, 11:10 AM

Sanuwave Health Announces Q3 2025 Financial Results and Q4 2025 Guidance

SNWV

Earnings

Guidance Update

Revenue Acceleration/Inflection

Sanuwave Health (SNWV) reported record revenues of $11.5 million for Q3 2025, marking a 22% increase from Q3 2024.
The company achieved a gross margin of 77.9% and net income of $10.3 million in Q3 2025, with Adjusted EBITDA reaching $3.5 million.
UltraMist® system sales hit a quarterly record of 155 units, and UltraMist® consumables revenue grew 26% to $6.8 million in Q3 2025.
For Q4 2025, Sanuwave Health forecasts revenues of $13-$14 million, with full-year 2025 revenue guidance set at $44-$45 million.

Nov 7, 2025, 11:00 AM

Sanuwave Health Announces Preliminary Q3 2025 Revenue and Revised Annual Guidance

SNWV

Earnings

Guidance Update

Demand Weakening

Sanuwave Health announced preliminary revenues for Q3 2025 are expected to be between $11.4 million and $11.6 million, representing the highest quarterly revenues in Company history.
This preliminary revenue indicates an increase of 22% to 24% over Q3 2024 and 12% to 14% sequentially from the prior quarter.
The reported Q3 2025 revenue range is below the company's previous guidance of $12-$12.7 million, primarily due to market uncertainty surrounding proposed reimbursement changes for certain wound care treatment modalities.
Consequently, the company has revised its 2025 annual revenue guidance from $48-$50 million to $44-$46 million.

Oct 6, 2025, 8:01 PM

Sanuwave Health, Inc. Announces Strategic Debt Refinancing

SNWV

Debt Issuance

Sanuwave Health, Inc. (SNWV) announced the refinancing of its $27.5 million debt facility with NH Expansion Credit Fund Holdings LP.
The company secured a new credit facility from J.P. Morgan, consisting of a $23.0 million four-year term loan and a $5.0 million two-year revolving credit facility.
At closing, Sanuwave drew approximately $1.0 million from the revolver, leading to a total outstanding debt of approximately $24 million under the new facility.
Both the term loan and revolver have an interest rate of SOFR +350bp and no prepayment penalties.
The new credit agreement includes financial covenants, requiring a maximum total leverage ratio of 2.50 to 1.00 and a minimum fixed charge coverage ratio of 1.25 to 1.00, effective from the fiscal quarter ending September 30, 2025.