SANUWAVE Health, Inc. (SNWV) Earnings Call Transcripts

SANUWAVE Health, Inc.'s Latest Earnings Call - Q4 FY2025

In the fourth quarter of 2025, SANUWAVE Health, Inc. reported record revenues of $13.4 million, reflecting a 30% increase year-over-year, and full-year revenues reached $44.1 million, up 35% from 2024. Adjusted EBITDA for Q4 was $4.8 million, a notable rise from $3.7 million in the previous year. Management provided guidance for Q1 2026, projecting revenues between $9.6 million and $10.3 million, indicating a 3% to 10% increase from the prior year, with expectations for improved growth later in the year as market conditions stabilize.

Reported metrics

Guidance from management

Management expects Q1 2026 revenues to range from $9.6 million to $10.3 million, with a preliminary estimate for full-year 2026 revenue growth of 16% to 25% compared to 2025.

What management said

We really haven't provided that guidance at this point. And I think, trying to do it off the cuff on the call seems unwise. So I think we've provided we've provided some sort of guideposts in the past where it looks like incremental revenue would probably drop something on the order of 50% to the EBITDA line. So I think that's still a fairly good kind of rule of thumb.

Yes. So obviously, like kind of complicated quarter, right? You sell -- we sell 255 systems. The actual active systems in the field rise by about 5%, right? It's about 56% because we pulled 168 systems out due to things not going well with certain customers, certain customers' businesses, and so from that, I think you can kind of into it like where things went from a channel standpoint. From an individual customer st...

What analysts pressed on

Analysts expressed concerns regarding the impact of CMS reimbursement changes on customer behavior and the potential for extended sales cycles. There were also inquiries about the company's ability to maintain growth amidst operational challenges and increased competition in the wound care market.

Main topics on the call

• Record Revenue Growth — SANUWAVE achieved record revenues of $13.4 million in Q4 2025, a 30% increase year-over-year, driven by higher demand for UltraMIST systems. CEO Morgan Frank noted, "This performance reflects continued execution of our c...
• Impact of CMS Reimbursement Changes — Management highlighted significant pressures from recent CMS reimbursement changes, particularly a 90%-95% price cut in skin substitutes, which has affected customer counts and growth rates. Frank stated, "This has affec...
• Active System Count Adjustment — The company revised its methodology for reporting active systems, resulting in a count of 1,292 active systems at year-end, a 5% increase from Q3. This change was necessary due to the discontinuation of certain product l...
• Guidance for Q1 2026 — SANUWAVE provided Q1 revenue guidance of $9.6 million to $10.3 million, representing a 3% to 10% increase from the prior year. Frank indicated that this guidance is conservative due to ongoing industry adjustments, stati...

Read the full SANUWAVE Health, Inc. transcript (Q4 FY2025) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 SANUWAVE Health, Inc. earnings call transcripts on record, spanning March 31, 2020 to August 7, 2026. Based on this history, SANUWAVE Health, Inc. reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SNWV

Exchange

NasdaqGM

Country

US

Sector

Health Care

Industry

Health Care Equipment and Supplies

Calls on record

29

First call

March 31, 2020

Most recent

August 7, 2026

Reporting cadence

quarterly