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Sanuwave Health Inc. (SNWV)
:SNWV
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Sanuwave Health
(NASDAQ:SNWV)
55Neutral
Sanuwave Health (SNWV) vs. S&P 500 (SPY)
Market Cap
$266.20M
Dividend YieldN/A
Average Volume (3M)38.71K
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth59.99%
EPS Growth57.11%
CountryUS
Employees46
SectorHealthcare
Sector Strength74
IndustryMedical - Devices
Share Statistics
EPS (TTM)-7.67
Shares Outstanding8,548,473
10 Day Avg. Volume50,295
30 Day Avg. Volume38,707
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)10.95
Price to Cash Flow (P/CF)62.60
P/FCF Ratio65.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Sanuwave Health Business Overview & Revenue Model
Company DescriptionSanuwave Health, Inc. is a medical technology company that specializes in developing and commercializing non-invasive, biologically effective medical devices aimed at repairing and regenerating tissue, musculoskeletal and vascular structures. The company operates within the healthcare sector, focusing on innovative solutions for wound care, orthopedic, and vascular applications. Its core products include the dermaPACE and orthoPACE systems, which utilize acoustic shockwaves to stimulate healing in chronic and acute conditions.
How the Company Makes MoneySanuwave Health generates revenue primarily through the sale and leasing of its medical devices, such as the dermaPACE and orthoPACE systems. These devices are designed for healthcare providers and clinics that treat chronic wounds, musculoskeletal disorders, and other related conditions. The company also earns income from service agreements, maintenance contracts, and consumable sales related to its devices. Furthermore, Sanuwave may engage in strategic partnerships or licensing agreements to enhance its market reach and product offerings, contributing additional revenue streams.
Sanuwave Health Financial Statement Overview
Summary
Sanuwave Health is experiencing substantial revenue growth yet remains unprofitable, facing ongoing operational challenges as reflected in negative net income and weak balance sheet fundamentals. Improvements in cash flows offer a positive outlook, but the company needs to focus on sustainable profitability and strengthening equity.Income Statement
Sanuwave Health has shown significant revenue growth, increasing from $10.3M in 2019 to $32.6M in 2024, indicating strong sales expansion. However, the company remains unprofitable, with negative net income consistently reported, culminating in a loss of $31.4M in 2024. Profitability margins such as gross profit margin improved over time, but negative EBIT and net profit margins reflect ongoing operational challenges.42
Neutral
Balance Sheet
The company exhibits a weak balance sheet characterized by negative stockholders' equity, which stood at -$12.7M in 2024. The equity ratio remains negative, indicating potential solvency issues. Total debt has decreased significantly from $31.9M in 2023 to $191K in 2024, which is a positive shift, but the overall financial stability is undermined by high liabilities relative to assets.35
Negative
Cash Flow
Sanuwave Health demonstrated a positive shift in cash flows with an operating cash flow of $2.5M in 2024, improving from previous negative figures. Free cash flow also turned positive at $2.5M, indicating better cash management. However, historical fluctuations and recent improvements need to be sustained for consistent financial health.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 32.63M | 20.40M | 16.74M | 13.01M | 4.06M | Gross Profit |
| 24.55M | 14.36M | 12.41M | 8.02M | 2.90M | EBIT |
| 5.42M | -540.00K | -8.95M | -14.14M | -18.01M | EBITDA |
| -16.56M | -9.15M | -8.00M | -18.90M | -27.38M | Net Income Common Stockholders |
| -31.37M | -25.81M | -10.29M | -27.26M | -34.08M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 10.24M | 1.80M | 1.15M | 619.00K | 2.44M | Total Assets |
| 30.12M | 22.42M | 19.87M | 18.62M | 23.03M | Total Debt |
| 191.00K | 31.94M | 41.11M | 26.20M | 17.58M | Net Debt |
| -10.05M | 30.15M | 39.95M | 25.58M | 15.14M | Total Liabilities |
| 42.84M | 65.59M | 60.88M | 57.58M | 36.75M | Stockholders Equity |
| -12.72M | -43.18M | -41.01M | -38.96M | -13.72M |
| Cash Flow | Free Cash Flow | |||
| 2.46M | -4.54M | -16.15M | -6.94M | -12.77M | Operating Cash Flow |
| 2.46M | -4.54M | -17.17M | -6.41M | -12.72M | Investing Cash Flow |
| -490.00K | 21.00K | 332.00K | -529.00K | -20.05M | Financing Cash Flow |
| 6.35M | 5.21M | 17.38M | 5.12M | 33.45M |
Sanuwave Health Technical Analysis
Negative
29.29
Price Trends
29.84
Negative
26.63
Positive
18.10
Positive
Market Momentum
2.61
Negative
68.21
Neutral
67.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNWV, the sentiment is Negative. The current price of 29.29 is below the 20-day moving average (MA) of 33.52, below the 50-day MA of 29.84, and above the 200-day MA of 18.10, indicating a neutral trend. The MACD of 2.61 indicates Negative momentum. The RSI at 68.21 is Neutral, neither overbought nor oversold. The STOCH value of 67.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SNWV.
Sanuwave Health Risk Analysis
Sanuwave Health disclosed 40 risk factors in its most recent earnings report. Sanuwave Health reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sanuwave Health Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $266.20M | ― | 0.65% | ― | 59.99% | 57.11% | |
55 Neutral | $229.57M | ― | -230.96% | ― | 32.24% | -66.93% | |
52 Neutral | $244.86M | 25.27 | -4.64% | ― | -54.17% | -135.78% | |
52 Neutral | $267.52M | ― | -25.76% | ― | -2.09% | -13.01% | |
48 Neutral | $6.36B | 1.28 | -45.04% | 2.64% | 19.24% | 1.69% | |
46 Neutral | $56.84M | ― | -51.63% | ― | 11.26% | -14.21% | |
43 Neutral | $403.86M | ― | -12.32% | ― | -9.23% | -359.07% |
* Healthcare Sector Average
Performance Comparison
SNWV
Sanuwave Health
29.29
21.41
271.70%
EDAP
EDAP TMS
1.45
-6.39
-81.51%
OSUR
Orasure Technologies
2.94
-2.83
-49.05%
SRDX
SurModics
27.24
-0.44
-1.59%
RCEL
Avita Medical
8.63
-1.72
-16.62%
CYRX
CryoPort
5.23
-12.83
-71.04%
Sanuwave Health Earnings Call Summary
Earnings Call Date: Mar 21, 2025 | % Change Since: -8.47% | Next Earnings Date: May 9, 2025
Earnings Call Sentiment Positive
Overall, the earnings call presented a positive outlook with record revenue achievements, strong growth in system sales, improved gross margins, and successful financial restructuring despite a net loss and increased operating expenses. The company's guidance indicates confidence in continued growth.Highlights
Record Revenue Achievement
SANUWAVE reported a record revenue of $10.3 million for Q4 2024, marking a significant milestone by breaking into eight figures. This represents a 47% increase compared to the same period in 2023.
Strong Growth in UltraMIST Systems Sales
The company sold 135 UltraMIST systems in Q4 2024, a 71% growth year-over-year from 79 systems sold in Q4 2023, and even outpacing the 124 systems sold in Q3 2024.
Increased Gross Margins
Gross margins improved to 77.9% in Q4 2024, up from 69.1% in the same period last year, driven by benefits from scale and price discipline.
Positive Adjusted EBITDA
Adjusted EBITDA was a positive $3.7 million for Q4 2024, an improvement of $3 million from the same period last year.
Successful Financial Restructuring
The company simplified its capital structure, strengthened its balance sheet with a $10.3 million PIPE transaction, and uplisted to NASDAQ.
Guidance for Continued Growth
SANUWAVE provided guidance for Q1 2025 revenue of $8.4 million to $9 million, representing 45% to 55% growth from Q1 2024, and full-year 2025 revenue of $48 million to $50 million, indicating a 50% year-on-year growth rate.
Lowlights
Net Loss for the Quarter
The company reported a net loss of $12.7 million for Q4 2024, compared to a net income of $18.2 million in the same period of 2023. This was primarily due to a change in the fair value of derivative liabilities.
Negative EBITDA
EBITDA for Q4 2024 was negative $9.7 million, although adjusted EBITDA was positive.
Increased Operating Expenses
Operating expenses increased to $5.5 million for Q4 2024, up from $3.8 million in the same period last year, largely driven by a $1.5 million increase in non-cash stock compensation expenses.
Company Guidance
During the SANUWAVE earnings call for the fourth quarter and full year 2024, the company reported record revenue of $10.3 million, marking a 71% year-over-year increase in system sales and a 68% rise in applicator sales. They achieved a gross margin of 77.9%, up from 69.1% the previous year, and reported a positive adjusted EBITDA of $3.7 million for Q4 2024. Operating expenses rose to $5.5 million, influenced by a $1.5 million increase in non-cash stock compensation expenses. The company's guidance for Q1 2025 anticipates revenues between $8.4 million and $9 million, reflecting 45% to 55% growth from Q1 2024. For the full year 2025, they project revenues of $48 million to $50 million, aiming for a 50% growth rate. SANUWAVE successfully uplisted to NASDAQ in March 2025, which was part of their strategic efforts to simplify their capital structure, including a $10.3 million PIPE transaction and the exchange of convertible notes and warrants for common stock.Sanuwave Health Corporate Events
Executive/Board Changes
Sanuwave Health Executive Transition and Compensation Update
Neutral
Jan 15, 2025
On January 3, 2025, Timothy Hendricks separated from his role as Executive Vice President of Sales at Sanuwave Health, Inc. In a subsequent Separation and Release Agreement dated January 13, 2025, Hendricks will receive five months’ salary and continued stock option vesting, indicating the company’s structured approach to executive transitions.
Executive/Board Changes
Sanuwave Health Announces Executive Leadership Changes
Neutral
Jan 10, 2025
Sanuwave Health announced the departure of Timothy Hendricks as Executive Vice President of Sales on January 3, 2025, with negotiations underway for a separation agreement. On January 6, 2025, Timothy Wern was appointed as the new Executive Vice President of Sales, bringing significant experience in sales management and launching medical devices, which is expected to enhance the company’s market position in the U.S. and Canada.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.