Sanuwave Health (SNWV)
NASDAQ:SNWV
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Sanuwave Health
(NASDAQ:SNWV)
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Rating:55Neutral
Price Target:
$19.50
▼(-37.70% Downside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by balance-sheet risk (thin equity and elevated leverage) despite a clear improvement in revenue growth, profitability and cash generation. Technical signals are mixed with only modest momentum, while valuation is unfavorable on a negative P/E and no stated dividend yield. Earnings call commentary supports a cautiously positive demand outlook and maintained guidance, but near-term margin and expense pressures and CMS-related disruption temper confidence.
Positive Factors
Installed base & consumables
A growing installed base and rising consumables use create recurring revenue and longer customer lifetime value. Durable demand per system (consumables + usage) strengthens revenue visibility and supports scaling economics as each new system yields ongoing consumable sales.
Negative Factors
Thin equity & leverage
High leverage and a history of thin or negative equity materially raise refinancing and solvency risk. Even with improved earnings, limited balance-sheet cushion reduces flexibility to absorb setbacks and increases probability that future growth requires dilutive or costly financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Installed base & consumables
A growing installed base and rising consumables use create recurring revenue and longer customer lifetime value. Durable demand per system (consumables + usage) strengthens revenue visibility and supports scaling economics as each new system yields ongoing consumable sales.
Read all positive factors
Sanuwave Health (SNWV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$141.63M
Dividend YieldN/A
Average Volume (3M)78.76K
Price to Earnings (P/E)8.5
Beta (1Y)1.11
Revenue Growth22.49%
EPS GrowthN/A
CountryUS
Employees46
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.75
Shares Outstanding8,598,976
10 Day Avg. Volume75,518
30 Day Avg. Volume78,757
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)157.84
Price to Sales (P/S)5.80
P/FCF Ratio132.13
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue3.11
Enterprise Value/Gross Profit4.11
Enterprise Value/Ebitda6.15
Forecast
1Y Price Target
$51.00Price Target Upside62.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.08
Revenue Forecast (FY)$51.35M
Sanuwave Health Business Overview & Revenue Model
Company Description
SANUWAVE Health, Inc., a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shoc...
How the Company Makes Money
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Sanuwave Health Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call conveyed cautious optimism: underlying demand signs and product adoption are improving (record applicator units, active systems growth, strong consumables usage, a growing large‑account pipeline, maintained full‑year guidance), but near‑term profitability metrics show pressure (gross margin compression, higher operating expenses, negative GAAP EBITDA) driven by reseller mix, one‑time remediation costs and market disruption from CMS actions. Management presents the issues as largely transitory and supported by a strengthening commercial pipeline.Positive Updates
Record Q1 Revenue
Revenue of $9.6M in Q1 2026, up 3% year‑over‑year from $9.3M; highest Q1 revenue in company history (growth at the low end of quarterly guidance of 3%–10%).
Negative Updates
Gross Margin Compression
Gross margin was 77.3% for the quarter, down 177 basis points year‑over‑year, primarily due to a shift of more sales through resellers at wholesale pricing (lower ASPs).
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Revenue
Revenue of $9.6M in Q1 2026, up 3% year‑over‑year from $9.3M; highest Q1 revenue in company history (growth at the low end of quarterly guidance of 3%–10%).
Read all positive updates
Company Guidance
SANUWAVE guided Q2 revenue to grow 10%–15% year‑over‑year, implying $11.1M–$11.6M, and reiterated full‑year revenue guidance of $51M–$55M; that outlook sits on a Q1 base of $9.6M (+3% YoY, the low end of prior guidance), record Q1 applicator unit sales with 97 systems sold, active systems of 1,382 (up from 1,292, a net +90 in Q1), consumables utilization +22% YoY and +4% sequentially, gross margin of 77.3% (down 177 bps YoY), operating loss of $1.1M, net loss of $1.4M, EBITDA of -$0.6M and adjusted EBITDA of +$1.1M, with $24M total current assets and $10.8M cash on hand; management cited a typical seasonal second half (~+48% vs first half historically) and accelerating large‑account evaluations as drivers of anticipated back‑half strength.Sanuwave Health Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
34
Negative
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 44.33M | 44.05M | 32.63M | 20.40M | 16.74M | 13.01M |
| Gross Profit | 33.55M | 33.97M | 24.55M | 14.36M | 12.41M | 8.02M |
| EBITDA | 22.43M | 19.43M | -16.56M | -9.15M | 4.79M | -18.90M |
| Net Income | 16.05M | 11.81M | -31.37M | -25.81M | -10.29M | -27.26M |
Balance Sheet | ||||||
| Total Assets | 37.10M | 37.34M | 30.12M | 22.42M | 19.87M | 18.62M |
| Cash, Cash Equivalents and Short-Term Investments | 10.78M | 11.96M | 10.24M | 1.80M | 1.15M | 619.00K |
| Total Debt | 7.18M | 22.97M | 25.50M | 30.45M | 38.98M | 28.39M |
| Total Liabilities | 35.26M | 35.72M | 42.84M | 65.59M | 60.88M | 57.58M |
| Stockholders Equity | 1.84M | 1.62M | -12.72M | -43.18M | -41.01M | -38.96M |
Cash Flow | ||||||
| Free Cash Flow | 5.86M | 1.93M | 1.97M | -4.54M | -16.15M | -6.94M |
| Operating Cash Flow | 5.79M | 3.88M | 2.46M | -4.54M | -17.17M | -6.41M |
| Investing Cash Flow | 3.44M | 3.43M | -490.00K | 21.00K | 332.00K | -529.00K |
| Financing Cash Flow | -6.95M | -5.59M | 6.35M | 5.21M | 17.38M | 5.12M |
Sanuwave Health Technical Analysis
Negative
31.30
Price Trends
17.53
Negative
21.40
Negative
27.65
Negative
Market Momentum
-0.43
Negative
41.06
Neutral
29.26
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 31.3 is above the 20-day moving average (MA) of 16.49, above the 50-day MA of 17.53, and above the 200-day MA of 27.65, indicating a bearish trend. The MACD of -0.43 indicates Negative momentum. The RSI at 41.06 is Neutral, neither overbought nor oversold. The STOCH value of 29.26 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 31 risk factors in its most recent earnings report. Sanuwave Health reported the most risks in the "Legal & Regulatory" 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $660.63M | 66.09 | 12.28% | ― | 30.18% | 109.31% | |
72 Outperform | $555.11M | 26.65 | 9.70% | ― | 17.18% | 34.07% | |
72 Outperform | $377.23M | 25.08 | 10.66% | ― | 23.10% | 22.75% | |
56 Neutral | $609.12M | -57.73 | -15.36% | ― | 16.97% | 51.23% | |
55 Neutral | $141.63M | 8.48 | -450.56% | ― | 22.49% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $354.46M | -3.59 | -130.00% | ― | 71.91% | 14.73% |
* Healthcare Sector Average
SNWV
Sanuwave Health
15.85
-12.47
-44.03%
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TCMD
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23.98
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VMD
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9.72
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BWAY
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203.04%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.