S
SANUWAVE Health, Inc.
SNWVCIK 0001417663NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusNevadaFY ends Dec 31
Period
FY 2025
Revenue
$44.05M
Net Income
$11.81M
Total Assets
$37.34M
Equity
$1.62M
Shares Out
8.60M
Op. Cash Flow
$3.88M
Business
Sanuwave Health is a medical device company that develops and markets the UltraMIST system, an FDA-cleared device using low-frequency, non-contact ultrasound to treat acute and chronic wounds. The company sells UltraMIST systems and sterile single-use applicator consumables through direct sales representatives and distributors to hospitals, physician offices, wound centers, nursing homes, and mobile wound care providers across the United States. Consumable applicators comprise a majority of revenues, with a substantial installed base of active systems in the field.
Summary from 10-K filed 2026-03-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 44 | 33 | 20 | 17 | 13 | |
| Cost of revenues | 10 | 8 | 6 | 4 | 5 | |
| Gross Margin | 34 | 25 | 14 | 12 | 8 | |
| General and administrative | 19 | 13 | 9 | 13 | 12 | |
| Selling and marketing | 7 | 6 | 5 | 7 | 9 | |
| Research and development | 1 | 673,000 | 579,000 | 567,000 | 1 | |
| Depreciation and amortization | 880,000 | 789,000 | 752,000 | 766,000 | 784,000 | |
| Total Operating Expenses | 29 | 21 | 15 | 21 | 22 | |
| Operating Income | 5 | 4 | −540,000 | −9 | −14 | |
| Interest expense | — | −13 | — | −13 | −7 | |
| (Loss) Gain on extinguishment of debt | −477,000 | 6 | 0 | −418,000 | 204,000 | |
| Change in fair value of derivative liabilities | 8 | −31 | −10 | 17 | −3 | |
| Loss on impairment of assets | −196,000 | 0 | — | — | — | |
| Other expense | −42,000 | −893,000 | −19,000 | −9,000 | — | |
| Other income (See Note 20) | 6 | 3 | 0 | — | — | |
| Total Other Income (Expense) | 7 | −37 | −25 | −1 | −13 | |
| Net Income (Loss) Before Income Taxes | 12 | −33 | −26 | −10 | −27 | |
| Income tax expense | 86,000 | 27,000 | 4,000 | 2,000 | 28,000 | |
| Net Income (Loss) | 12 | −33 | −26 | −10 | −27 | |
| Foreign currency translation adjustments | 0 | 121,000 | −44,000 | 6,000 | −11,000 | |
| Total Comprehensive Income (Loss) | 12 | −33 | −26 | −10 | −27 | |
| Basic (in dollars per share) | 1.38 | −7.41 | −12.19 | −0.02 | −0.05 | |
| Diluted (in dollars per share) | 0.41 | −7.41 | −12.19 | −0.02 | −0.05 | |
| Basic (in shares) | 9 | 4 | 2 | 549 | 518 | |
| Diluted (in shares) | 9 | 4 | 2 | 549 | 518 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-09-30 | FY 2025 2025-06-30 | FY 2025 2025-03-31 | FY 2024 2024-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 12 | — | — | — | 10 | |
| Accounts receivable, net of allowance of $1,265 and $1,147, respectively | 5 | — | — | — | 3 | |
| Inventory | 6 | — | — | — | 4 | |
| Prepaid expenses and other current assets | 1 | — | — | — | 682,000 | |
| Total Current Assets | 25 | — | — | — | 18 | |
| Property and equipment, net | 2 | — | — | — | 303,000 | |
| Right of use assets, net | 390,000 | — | — | 400,000 | 429,000 | |
| Intangible assets, net | 3 | — | — | — | 4 | |
| Goodwill | 7 | — | — | — | 7 | |
| Secured revolving credit facility debt issuance costs, net | 68,000 | — | — | — | 0 | |
| Total Non-Current Assets | 13 | — | — | — | 12 | |
| Total Assets | 37 | — | — | — | 30 | |
| Current portion of secured term loan | 6 | — | — | — | 0 | |
| Senior secured debt | 0 | — | — | — | 25 | |
| Accounts payable | 3 | — | — | — | 4 | |
| Accrued expenses | 8 | 8 | 7 | 7 | 8 | |
| Warrant liability | 0 | — | — | — | 8 | |
| Current portion of operating lease liabilities | 157,000 | — | — | — | 126,000 | |
| Current portion of finance lease liabilities | 0 | — | — | — | 175,000 | |
| Current portion of contract liabilities | 388,000 | 299,000 | 231,000 | 194,000 | 193,000 | |
| Accrued interest | 24,000 | — | — | — | 0 | |
| Other | 7,000 | — | — | — | 33,000 | |
| Total Current Liabilities | 18 | 24 | 50 | 51 | 45 | |
| Secured term loan, net of current portion and debt issuance costs | 16 | — | — | — | 0 | |
| Secured revolving credit facility | 655,000 | — | — | — | 0 | |
| Operating lease liabilities, less current portion | 854,000 | — | — | — | 125,000 | |
| Finance lease liabilities, less current portion | 0 | — | — | — | 66,000 | |
| Contract liabilities, less current portion | 701,000 | 575,000 | 410,000 | 319,000 | 300,000 | |
| Total Non-Current Liabilities | 18 | — | — | — | 491,000 | |
| Total Liabilities | 36 | 43 | 52 | 52 | 46 | |
| Commitments and Contingencies (Note 21) | — | — | — | — | — | |
| Preferred stock | 0 | — | — | — | 0 | |
| Common stock | 9,000 | — | — | — | 9,000 | |
| Additional paid-in capital | 244 | — | — | — | 239 | |
| Accumulated deficit | −243 | −250 | −260 | −261 | −254 | |
| Accumulated other comprehensive loss | 10,000 | — | — | — | 10,000 | |
| Total Stockholders Equity (Deficit) | 2 | −8 | −19 | −21 | −16 | |
| Total Liabilities and Stockholders Equity (Deficit) | 37 | — | — | — | 30 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 5 | 2 | 0 | — | 0 | |
| Depreciation and amortization | 974,000 | 788,000 | 1 | 952,000 | 1 | |
| Amortization of right-of-use assets | 309,000 | 357,000 | — | — | — | |
| Provision for credit losses | 202,000 | 77,000 | 781,000 | 253,000 | 442,000 | |
| Loss on disposal and impairment of assets | 210,000 | 0 | — | — | — | |
| Change in fair value of derivative liabilities | −8 | 31 | 10 | −17 | 3 | |
| Gain on sale of patents | −5 | 0 | — | — | — | |
| Amortization of debt issuance and debt discounts | 1 | 6 | 7 | 5 | 3 | |
| Write-off of inventory related to PACE disposal | 500,000 | 0 | — | — | — | |
| Gain on lease modification | −7,000 | 0 | — | — | — | |
| Accrued interest and accrued interest, related parties | 0 | 3 | 6 | 3 | 2 | |
| Proceeds from tenant improvement funds | 586,000 | 0 | — | — | — | |
| Accounts receivable | −2 | −486,000 | −53,000 | −2 | −395,000 | |
| Inventory | −2 | −1 | −3 | — | 2 | |
| Prepaid expenses and other assets | −724,000 | −79,000 | −206,000 | — | — | |
| Accounts payable | −521,000 | −1 | 2 | −3 | 3 | |
| Accrued expenses and contract liabilities | 2 | 2 | −2 | 69,000 | 4 | |
| Operating leases | −156,000 | 0 | — | — | — | |
| Net Cash Provided by Operating Activities | 4 | 2 | −5 | −17 | −6 | |
| Purchases of property and equipment | −2 | −490,000 | 0 | — | −529,000 | |
| Proceeds from sale of patents | 5 | 0 | — | — | — | |
| Net Cash Provided by (Used in) Investing Activities | 3 | −490,000 | 21,000 | 332,000 | −529,000 | |
| Repayment of principal secured term loan | −1 | 0 | — | — | — | |
| Proceeds from secured term loan | 23 | 0 | — | — | — | |
| Proceeds from secured revolving credit facility | 655,000 | 0 | — | — | — | |
| Payment of debt issuance costs | −371,000 | 0 | — | — | — | |
| Proceeds from exercises of stock options | 556,000 | 0 | — | — | 0 | |
| Payment of note payable | −28 | −4 | — | — | — | |
| Proceeds from sale of common stock | 0 | 10 | 0 | — | — | |
| Payments to factoring | 0 | −1 | — | — | — | |
| Principal payments on finance leases | −242,000 | −208,000 | −170,000 | −237,000 | −199,000 | |
| Net Cash Flows Provided by Financing Activities | −6 | 6 | 5 | 17 | 5 | |
| Effect of Exchange Rates on Cash and Cash Equivalents | 0 | 121,000 | −50,000 | −13,000 | −1,000 | |
| Net Change in Cash and Cash Equivalents During Period | 2 | 8 | 644,000 | 534,000 | −2 | |
| Cash paid for interest | 4 | 4 | 2 | 4 | 3 | |
| Cash paid for state income taxes | 27,000 | 4,000 | — | — | — | |
| Capitalize default interest into senior secured debt | 549,000 | 4 | — | — | — | |
| Shares granted in lieu of board of director fees | 77,000 | 0 | — | — | — | |
| Stock options granted in lieu of cash bonus | 117,000 | 0 | — | — | — | |
| Right-of-use assets obtained in exchange for lease liabilities | 430,000 | 0 | — | — | — | |
| Lease liabilities reduced upon lease modification | 99,000 | 0 | — | — | — | |
| Purchases of property and equipment in accounts payable | 45,000 | 0 | — | — | — | |
| RSUs granted in exchange for services | 10,000 | 0 | — | — | — | |
| Shares issued for settlement of debt | 0 | 9 | — | — | 0 | |
| Write off deferred merger costs | 0 | 1 | 0 | — | — | |
| Warrants issued in conjunction with senior secured promissory note payable and convertible promissory notes payable | 0 | 4 | 2 | 4 | — | |
| Conversion of warrants to common stock | 0 | 41 | 0 | — | — | |
| Conversion of asset-based secured promissory notes to convertible promissory notes | 0 | 5 | 0 | — | — |
Filings
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Frequently asked questions
What is SANUWAVE Health, Inc.'s CIK number?
SANUWAVE Health, Inc.'s SEC CIK number is 0001417663 (1417663). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SANUWAVE Health, Inc.'s SEC filings?
All of SANUWAVE Health, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SANUWAVE Health, Inc. last report earnings?
SANUWAVE Health, Inc. (SNWV) most recently filed an earnings 8-K with the SEC on Jul 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-048043). This is SANUWAVE Health, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SANUWAVE Health, Inc.'s most recent earnings 8-K?
SANUWAVE Health, Inc.'s latest earnings 8-K (Item 2.02) was filed Jul 13, 2026 under accession 0001628280-26-048043. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SANUWAVE Health, Inc.'s latest earnings 8-K →
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