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Sanuwave Health (SNWV)
NASDAQ:SNWV
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Sanuwave Health
(NASDAQ:SNWV)
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Rating:42Neutral
Price Target:
$25.00
▼(-20.13% Downside)
Action:ReiteratedDate:12/09/25
Sanuwave Health's overall stock score is primarily impacted by its weak financial performance, characterized by high leverage and negative equity. The technical analysis suggests bearish momentum, and the valuation metrics indicate unattractiveness due to ongoing losses. While the earnings call and corporate events provide some positive outlooks, they are not enough to offset the significant financial challenges.
Positive Factors
Revenue Growth
Record quarterly revenue indicates strong market presence and potential for sustained growth, enhancing long-term business prospects.
Strategic Partnerships
The partnership with Healogics expands market reach, potentially increasing sales and strengthening Sanuwave's position in wound care.
Financial Position
The refinancing reduces interest rates and debt load, improving cash flow and financial stability, supporting long-term operations.
Negative Factors
High Leverage
High leverage poses financial risk, limiting flexibility and increasing vulnerability to economic downturns, impacting long-term stability.
Profitability Challenges
Persistent profitability issues highlight challenges in managing expenses, which could hinder sustainable growth and investor confidence.
Leadership Instability
Leadership changes can disrupt strategic direction and execution, affecting operational efficiency and long-term business continuity.
Sanuwave Health (SNWV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$206.34M
Dividend YieldN/A
Average Volume (3M)78.76K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth40.89%
EPS Growth-749.65%
CountryUS
Employees46
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.46
Shares Outstanding8,576,164
10 Day Avg. Volume75,518
30 Day Avg. Volume78,757
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-8.07
Price to Sales (P/S)3.15
P/FCF Ratio52.24
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue5.36
Enterprise Value/Gross Profit6.89
Enterprise Value/Ebitda93.13
Forecast
1Y Price Target
$54.00Price Target Upside72.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.94
Revenue Forecast (FY)$57.95M
Sanuwave Health Business Overview & Revenue Model
Company DescriptionSANUWAVE 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 shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. The company's lead regenerative product is the dermaPACE device for treating diabetic foot ulcers. Its portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, which helps to restore the body's normal healing processes and regeneration. The company also focuses on applying its Pulsed Acoustic Cellular Expression technology in wound healing, orthopedic, plastic/cosmetic, and cardiac conditions. In addition, it offers UltraMIST, non-contact and non-thermal ultrasound therapy device used to treat diabetic foot ulcers, pressure ulcers, venous leg ulcers, deep tissue pressure injuries, and surgical wounds; and orthoPACE system to treat tendinopathies and acute and nonunion fractures. The company was founded in 2005 and is headquartered in Suwanee, Georgia.
How the Company Makes MoneySanuwave Health generates revenue primarily through the sale and rental of its medical devices, such as the OrthoPulse and dermaPACE systems. The company also earns revenue from consumable products associated with these devices, which are essential for their operation. Additionally, Sanuwave may generate income through partnerships with healthcare institutions and providers that utilize its technology for patient treatment. These collaborations can lead to reimbursement from insurance providers, as well as potential licensing agreements. Furthermore, Sanuwave's ongoing clinical studies and trials may enhance its product offerings and market reach, contributing to future revenue growth.
Sanuwave Health Earnings Call Summary
Earnings Call Date:Nov 07, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 07, 2026
Earnings Call Sentiment Neutral
SANUWAVE achieved record-breaking quarterly revenue and significant system sales, indicating strong growth and market presence. However, the company faced challenges in meeting its revenue guidance due to market uncertainty and disruption. Despite these challenges, the outlook for reimbursement changes is positive, and September showed strong performance, suggesting potential future growth.Q3-2025 Updates
Positive Updates
Record Quarterly Revenue
SANUWAVE reported Q3 2025 revenues of $11.4 million to $11.6 million, setting an all-time company record and reflecting a 12% to 14% sequential growth from Q2 and a 22% to 24% increase compared to the same quarter last year.
Significant System Sales
The company placed a record number of 155 systems in the quarter, indicating strong sales performance.
Positive Reimbursement Outlook
Proposed changes in reimbursement for UltraMIST suggest a small increase of $2 to $4, equating to roughly 50 to 100 basis points, which is viewed positively in the wound care context.
Strong September Performance
September was the best single month in company history for revenue, system sales, and applicators, marking a strong recovery after a slow start to the quarter.
Negative Updates
Missed Revenue Guidance
Q3 revenues fell short of the previously announced guidance of $12 million to $12.7 million, leading to an adjusted annual revenue guidance of $44 million to $46 million, down from $48 million to $50 million.
Market Uncertainty Impact
The uncertainty regarding reimbursement changes for skin substitute products created market hesitation, affecting growth plans and capital budgets.
Continued Disruption Challenges
Q3 was more challenging than expected due to ongoing disruptions, and the company was unable to fully rebound from the slow start of the quarter.
Company Guidance
During the SANUWAVE Q3 2025 Revenue Update call, the company reported preliminary revenues between $11.4 million and $11.6 million, marking a record quarterly performance with a 12% to 14% sequential growth from Q2 and 22% to 24% growth compared to the same quarter last year. However, this fell short of the previous guidance of $12 million to $12.7 million. The company attributed this shortfall to market uncertainties caused by proposed changes in reimbursement for skin substitute and allograft products, which seems to have temporarily frozen market activity. Despite this, September was the best month in company history for revenue, system sales, and applicators. The company sold 155 systems during the quarter, a record number. As a result of these challenges, the annual revenue guidance was adjusted to $44 million to $46 million, representing approximately 40% year-on-year growth at the midpoint, down from the prior guidance of $48 million to $50 million. The company remains optimistic about future growth opportunities, particularly in the hospital market for hospital-acquired pressure injuries, and continues to focus on building a robust pipeline with larger, more sophisticated customers.Sanuwave Health Financial Statement Overview
Summary
Sanuwave Health shows some revenue growth and a strong gross profit margin, but faces significant challenges with profitability, high leverage, and negative equity. The cash flow situation shows some improvement, yet remains a concern due to negative free cash flow. The company needs to focus on improving operational efficiency and financial stability to enhance its financial health.Income Statement
Sanuwave Health shows a positive revenue growth rate of 5.34% TTM, indicating some top-line growth. However, the company struggles with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin is relatively strong at 78.26% TTM, but the persistent net losses highlight ongoing challenges in managing expenses and achieving profitability.45
Neutral
Balance Sheet
The balance sheet reveals significant financial risk, with a negative stockholders' equity and a high debt-to-equity ratio of -2.29 TTM, indicating high leverage. The return on equity is positive at 59.05% TTM, but this is due to the negative equity base rather than operational efficiency. The equity ratio is negative, reflecting financial instability.30
Negative
Cash Flow
Cash flow analysis shows improvement in free cash flow growth at 639.62% TTM, but the free cash flow remains negative. The operating cash flow to net income ratio is low at 0.07 TTM, indicating limited cash generation relative to net losses. The company needs to enhance cash flow management to support its operations and reduce reliance on external financing.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.28M | 32.63M | 20.40M | 16.74M | 13.01M | 4.06M |
| Gross Profit | 32.09M | 24.55M | 14.36M | 12.41M | 8.02M | 2.90M |
| EBITDA | 2.38M | -16.56M | -9.15M | 4.79M | -18.90M | -27.38M |
| Net Income | -7.04M | -31.37M | -25.81M | -10.29M | -27.26M | -30.94M |
Balance Sheet | ||||||
| Total Assets | 35.60M | 30.12M | 22.42M | 19.87M | 18.62M | 23.03M |
| Cash, Cash Equivalents and Short-Term Investments | 9.60M | 10.24M | 1.80M | 1.15M | 619.00K | 2.44M |
| Total Debt | 24.45M | 25.50M | 30.45M | 38.98M | 28.39M | 17.58M |
| Total Liabilities | 38.53M | 42.84M | 65.59M | 60.88M | 57.58M | 36.74M |
| Stockholders Equity | -2.93M | -12.72M | -43.18M | -41.01M | -38.96M | -13.72M |
Cash Flow | ||||||
| Free Cash Flow | -784.00K | 1.97M | -4.54M | -16.15M | -6.94M | -12.77M |
| Operating Cash Flow | 1.30M | 2.46M | -4.54M | -17.17M | -6.41M | -12.72M |
| Investing Cash Flow | 2.92M | -490.00K | 21.00K | 332.00K | -529.00K | -20.05M |
| Financing Cash Flow | 2.13M | 6.35M | 5.21M | 17.38M | 5.12M | 33.45M |
Sanuwave Health Technical Analysis
Negative
31.30
Price Trends
27.42
Negative
29.62
Negative
32.27
Negative
Market Momentum
-0.92
Negative
38.53
Neutral
54.19
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 24.88, above the 50-day MA of 27.42, and below the 200-day MA of 32.27, indicating a bearish trend. The MACD of -0.92 indicates Negative momentum. The RSI at 38.53 is Neutral, neither overbought nor oversold. The STOCH value of 54.19 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $458.15M | 70.99 | 11.05% | ― | 27.37% | 269.84% | |
72 Outperform | $336.46M | 26.77 | 10.53% | ― | 18.90% | 29.22% | |
63 Neutral | $485.98M | -29.87 | -27.77% | ― | 13.03% | 21.28% | |
61 Neutral | $657.24M | 34.91 | 8.77% | ― | 9.28% | 21.00% | |
52 Neutral | $340.35M | -4.88 | -129.29% | ― | 31.94% | 36.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | $206.34M | -14.27 | ― | ― | 40.89% | -749.65% |
* Healthcare Sector Average
SNWV
Sanuwave Health
24.06
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-10.89%
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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.