Sanuwave Health (SNWV) AI Stock Analysis

• Market Cap: $294.85M
• Dividend Yield: N/A
• Average Volume (3M): 131.21K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.18
• Revenue Growth: 40.89%
• EPS Growth: -749.65%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.46
• Shares Outstanding: 8,576,164
• 10 Day Avg. Volume: 61,306
• 30 Day Avg. Volume: 131,209
• PEG Ratio: 0.08
• Price to Book (P/B): -8.07
• Price to Sales (P/S): 3.15
• P/FCF Ratio: 52.24
• Enterprise Value/Market Cap: 1.21
• Enterprise Value/Revenue: 8.66
• Enterprise Value/Gross Profit: 11.14
• Enterprise Value/Ebitda: 150.50
• 1Y Price Target: $54.00
• Price Target Upside: 72.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $33.00 ▲(5.43% Upside)

Sanuwave Health's overall stock score is primarily impacted by its weak financial performance, characterized by high leverage and negative equity. While the earnings call showed some growth potential, ongoing market uncertainties and missed revenue guidance weigh heavily. Technical analysis and valuation further contribute to a cautious outlook.

Positive Factors

Revenue Growth

Sanuwave Health's revenue growth of 22% year-over-year indicates strong demand for its products, reflecting successful market penetration and adoption of its technology.

Product Sales Performance

Record system sales demonstrate robust demand for Sanuwave's offerings, suggesting a competitive edge in the regenerative medicine market and potential for sustained revenue growth.

Positive Reimbursement Outlook

The positive reimbursement outlook for 2026 enhances Sanuwave's revenue potential by improving the financial viability of its treatments, encouraging broader adoption by healthcare providers.

Negative Factors

Profitability Challenges

Despite revenue growth, ongoing profitability challenges due to high operating expenses could hinder Sanuwave's ability to reinvest in business expansion and innovation.

Financial Stability Concerns

Negative equity and cash flow difficulties suggest potential solvency issues, which could limit Sanuwave's operational flexibility and ability to weather financial downturns.

Market Uncertainty Impact

Market uncertainty due to reimbursement changes could disrupt sales momentum and delay strategic initiatives, impacting Sanuwave's growth trajectory in the near term.

Sanuwave Health Business Overview & Revenue Model

Company Description

Sanuwave Health, Inc. is a medical technology company focused on developing and commercializing innovative regenerative medicine solutions. The company operates primarily in the healthcare sector, specializing in advanced wound care and musculoskeletal applications. Sanuwave's core product offerings include its proprietary Shockwave technology, which utilizes acoustic waves to promote tissue regeneration and healing, targeting conditions such as chronic wounds and orthopedic injuries.

How the Company Makes Money

Sanuwave Health generates revenue through the sale of its medical devices and related products that utilize its Shockwave technology. The company sells these devices directly to healthcare facilities, including hospitals and outpatient clinics, and may also engage in partnerships with distributors to expand its market reach. Key revenue streams include device sales, recurring revenue from consumables and accessories needed for the operation of the devices, and potential licensing agreements for its technology. Additionally, Sanuwave may benefit from collaborations with medical institutions and research organizations to conduct clinical studies, which can enhance product credibility and lead to increased adoption in the medical community.

Sanuwave Health Financial Statement Overview

Summary

Sanuwave Health's financial performance is concerning, with significant profitability and financial stability challenges. Despite revenue growth, the company faces high leverage, negative equity, and ongoing cash flow difficulties, overshadowing any improvements.

Income Statement

Sanuwave Health's income statement shows a mixed performance. The company has achieved revenue growth, with a 5.34% increase in the TTM period. However, profitability remains a concern, as indicated by negative net profit and EBIT margins. The gross profit margin is relatively strong at 78.26%, suggesting efficient production, but the negative EBITDA margin highlights ongoing operational challenges.

Balance Sheet

The balance sheet reveals significant financial instability. The company has a negative stockholders' equity, resulting in a concerning debt-to-equity ratio of -2.29 in the TTM period. This high leverage poses a risk to financial stability. Return on equity is positive, but this is due to negative equity, which is not a favorable indicator.

Cash Flow

Cash flow analysis shows some improvement, with a substantial increase in free cash flow growth. However, free cash flow remains negative, and the operating cash flow to net income ratio is low at 0.07, indicating challenges in converting income into cash. The free cash flow to net income ratio is also negative, reflecting ongoing cash flow difficulties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	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

• Technical Analysis Sentiment: Positive
• Last Price: 31.30
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNWV, the sentiment is Positive. The current price of 31.3 is below the 20-day moving average (MA) of 31.89, below the 50-day MA of 32.85, and below the 200-day MA of 32.87, indicating a bullish trend. The MACD of 0.54 indicates Negative momentum. The RSI at 54.70 is Neutral, neither overbought nor oversold. The STOCH value of 78.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNWV.

Sanuwave Health Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWAY	77 Outperform	$313.08M	52.43	11.05%	―	27.37%	269.84%
VMD	76 Outperform	$261.56M	20.81	10.53%	―	18.90%	29.22%
TCMD	75 Outperform	$574.25M	33.19	8.80%	―	9.28%	21.00%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CERS	48 Neutral	$338.07M	―	-27.77%	―	13.03%	21.28%
SNWV	45 Neutral	$294.85M	―	―	―	40.89%	-749.65%
SENS	45 Neutral	$246.79M	―	-129.29%	―	31.94%	36.59%

Sanuwave Health Corporate Events

Sanuwave Health Inc. Reports Strong Financial Turnaround

Sanuwave Health Inc., a company specializing in regenerative medicine through noninvasive ultrasound technology, operates primarily in the healthcare sector. In its latest earnings report for the quarter ending September 30, 2025, Sanuwave Health Inc. showcased a significant turnaround with a net income of $10.3 million, a stark contrast to the $20.7 million loss reported in the same period last year. The company achieved a revenue of $11.5 million, marking a 22% increase from the previous year, driven by strong sales in consumables and parts. Operating income also saw a positive shift, reaching $1.5 million compared to $1.9 million in the previous year. Sanuwave’s strategic initiatives, including a comprehensive debt refinancing and operational efficiency measures, have contributed to alleviating concerns about its ability to continue as a going concern. Looking forward, the management remains optimistic about maintaining this positive trajectory, supported by its recent financial restructuring and ongoing revenue growth strategies.

SANUWAVE Health Inc. Reports Mixed Q3 Earnings

SANUWAVE Health Inc. recently held its earnings call, revealing a mixed sentiment characterized by impressive achievements and notable challenges. The company celebrated record-breaking quarterly revenue and significant system sales, underscoring its strong market presence. However, it also faced difficulties in meeting revenue guidance due to market uncertainties and disruptions. Despite these hurdles, the outlook for reimbursement changes remains positive, and September’s performance suggests potential growth on the horizon.

Sanuwave Health Terminates President Andrew Walko

On September 25, 2025, Sanuwave Health terminated its former President, Andrew Walko, without cause, effective October 24, 2025. As part of the separation, Walko will receive a severance package including cash payments and continued vesting of stock options, with provisions for confidentiality and non-disparagement, impacting the company’s leadership structure.

The most recent analyst rating on (SNWV) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sanuwave Health stock, see the SNWV Stock Forecast page.

Sanuwave Health Appoints New Chief Operating Officer

On September 25, 2025, Sanuwave Health appointed Daniel Coyle as the new Chief Operating Officer, succeeding Peter Stegagno, who transitioned to Chief Regulatory Officer. Additionally, the company announced the termination of President Andrew Walko, effective October 24, 2025, with no immediate plans to appoint a successor.

The most recent analyst rating on (SNWV) stock is a Hold with a $36.00 price target. To see the full list of analyst forecasts on Sanuwave Health stock, see the SNWV Stock Forecast page.

Sanuwave Health Secures New Credit Agreement

On September 25, 2025, Sanuwave Health, Inc. entered into a credit agreement with JPMorgan Chase Bank for a $23 million term loan and a $5 million revolving credit facility. This refinancing allowed Sanuwave to repay its previous debt facility with NH Expansion Credit Fund Holdings LP, marking a significant step in strengthening its financial position by reducing interest rates and overall debt load, thereby enhancing cash flow generation.

The most recent analyst rating on (SNWV) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Sanuwave Health stock, see the SNWV Stock Forecast page.

Sanuwave Receives $5M from Patent Acquisition

Sanuwave, Inc. entered into an exclusive license and option agreement on March 6, 2024, with a third-party licensee concerning its patents in the intravascular shockwave applications field. The Licensee exercised its option to acquire the patents on August 21, 2025, resulting in a $5 million cash payment to Sanuwave, Inc., following an initial $2.5 million payment.

The most recent analyst rating on (SNWV) stock is a Hold with a $41.00 price target. To see the full list of analyst forecasts on Sanuwave Health stock, see the SNWV Stock Forecast page.

Sanuwave Health Stockholders Approve Key Proposals

On August 19, 2025, Sanuwave Health held its annual meeting of stockholders where several key proposals were voted upon. The stockholders elected five directors, ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm, approved an amendment to the 2024 Equity Incentive Plan to increase shares, and voted on executive compensation matters. These decisions reflect the company’s ongoing governance and strategic planning efforts.

The most recent analyst rating on (SNWV) stock is a Hold with a $41.00 price target. To see the full list of analyst forecasts on Sanuwave Health stock, see the SNWV Stock Forecast page.

SANUWAVE Health’s Q2 2025 Earnings: Growth Amid Challenges

SANUWAVE Health Inc. recently held its Q2 2025 earnings call, revealing a generally positive outlook despite some financial challenges. The company reported significant revenue growth and strong sales of its UltraMIST systems, alongside robust gross margins. However, decreased net income and increased operating expenses, primarily due to non-recurring items and stock compensation, were noted as challenges. The expansion of the sales team and improvements in applicator production further contributed to the positive sentiment expressed during the call.