Sanuwave Health (SNWV) AI Stock Analysis

• Market Cap: $276.58M
• Dividend Yield: N/A
• Average Volume (3M): 87.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.30
• 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: 90,149
• 30 Day Avg. Volume: 87,776
• 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: 1.15
• Enterprise Value/Revenue: 7.71
• Enterprise Value/Gross Profit: 9.92
• Enterprise Value/Ebitda: 134.05
• 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: 42 Neutral
• Price Target: $29.00 ▼(-7.35% Downside)

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 Business Overview & Revenue Model

Company Description

Sanuwave Health (SNWV) is a medical technology company specializing in advanced wound care and regenerative medicine. The company focuses on developing innovative solutions to enhance healing through its proprietary pulse technology. Sanuwave's core products include the OrthoPulse and dermaPACE systems, which are designed for treating various conditions such as diabetic foot ulcers and other chronic wounds, as well as for applications in orthopedic care. By leveraging its patented technology, Sanuwave aims to improve patient outcomes and reduce healthcare costs in the wound care and regenerative medicine sectors.

How the Company Makes Money

Sanuwave 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 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.

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.

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.

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: Negative
• 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 32.51, below the 50-day MA of 31.86, and below the 200-day MA of 33.21, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 50.44 is Neutral, neither overbought nor oversold. The STOCH value of 75.29 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	$323.78M	51.29	11.05%	―	27.37%	269.84%
TCMD	76 Outperform	$645.95M	37.34	8.80%	―	9.28%	21.00%
VMD	72 Outperform	$282.09M	22.44	10.53%	―	18.90%	29.22%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CERS	48 Neutral	$401.46M	-24.68	-27.77%	―	13.03%	21.28%
SENS	45 Neutral	$251.28M	-3.60	-129.29%	―	31.94%	36.59%
SNWV	42 Neutral	$276.58M	-19.12	―	―	40.89%	-749.65%

Sanuwave Health Corporate Events

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.

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.

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.