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SANUWAVE Health, Inc. operates as a medical device company in the United States and internationally. It focuses on the commercialization of regenerative medicines through noninvasive ultrasound or shockwaves to produce a biological response promoting the repair and regeneration of tissue, musculoskeletal, and vascular structures. The company markets UltraMist system, a medical device that uses non-thermal ultrasound to treat tissues using a fluid mist to transmit energy in a non-contact and pain free way for use in the treatment of acute and chronic wounds. The company was founded in 2004 and is headquartered in Eden Prairie, Minnesota.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
SANUWAVE Health, Inc. develops and commercializes a non-invasive pulsed acoustic shockwave platform aimed at promoting tissue repair, with primary focus on chronic wound care and related soft-tissue indications. Long-term growth drivers include rising diabetes and chronic-wound prevalence, expansion of clinical evidence and regulatory/reimbursement progress, and potential commercialization partnerships that could support wider adoption.
Key risks include limited scale and financial resources, reliance on a single technology and commercialization execution, regulatory and reimbursement uncertainty, and strong competition in wound care that could constrain revenue and require additional financing.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 11.90M | -31.34M | -25.80M | -10.29M | -30.94M |
| Net income | 11.81M | -31.37M | -25.81M | -10.29M | -34.08M |
| Selling general administrative | 19.37M | 11.35M | 8.67M | 12.56M | 13.72M |
| Selling and marketing expenses | 7.42M | 6.32M | 4.90M | 7.47M | 5.16M |
| Gross profit | 33.97M | 24.55M | 14.36M | 12.41M | 2.90M |
| Reconciled depreciation | 1.28M | 1.15M | 1.05M | 0.95M | 1.24M |
| Ebit | 18.14M | -17.71M | -10.18M | -8.95M | -18.01M |
| Ebitda | 19.43M | -16.56M | -9.15M | -11.43M | -16.40M |
| Depreciation and amortization | 1.28M | 1.15M | 1.03M | -2.48M | 1.61M |
| Operating income | 4.95M | 5.42M | -0.54M | -8.95M | -18.01M |
| Other operating expenses | 39.11M | 27.22M | 20.94M | 25.69M | 22.07M |
| Interest expense | 6.25M | 13.64M | 15.62M | 14.13M | 2.54M |
| Tax provision | 0.09M | 0.03M | 0.00M | 0.00M | 0.03M |
| Net interest income | -6.25M | -13.78M | -16.66M | -17.57M | -10.67M |
| Income tax expense | 0.09M | 0.03M | 0.00M | 0.00M | 3.14M |
| Total revenue | 44.05M | 32.63M | 20.40M | 16.74M | 4.06M |
| Total operating expenses | 29.02M | 19.13M | 14.90M | 21.36M | 20.91M |
| Cost of revenue | 10.08M | 8.08M | 6.04M | 4.33M | 1.16M |
| Total other income expense net | 6.95M | -36.76M | -25.26M | -1.34M | -12.92M |
| Net income from continuing ops | 11.81M | -33.08M | -49.74M | -10.29M | -27.26M |
| Net income applicable to common shares | - | - | - | - | -27.26M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 37.34M | 30.12M | 22.42M | 19.87M | 23.03M |
| Intangible assets | 3.03M | 3.73M | 4.43M | 5.14M | 6.55M |
| Other current assets | 1.31M | 0.68M | 1.72M | 0.57M | 0.18M |
| Total liab | 35.72M | 42.84M | 65.59M | 60.88M | 36.75M |
| Total stockholder equity | 1.62M | -12.72M | -43.18M | -41.01M | -13.72M |
| Other current liab | 8.45M | 13.12M | 27.51M | 15.06M | 14.64M |
| Common stock | 0.01M | 0.01M | 1.14M | 0.55M | 0.47M |
| Capital stock | 0.01M | 0.01M | 1.14M | 0.55M | 0.48M |
| Retained earnings | -242.69M | -251.42M | -220.05M | -194.24M | -156.69M |
| Other liab | - | - | - | - | 0.32M |
| Good will | 7.26M | 7.26M | 7.26M | 7.26M | 7.26M |
| Other assets | - | - | - | - | 0.11M |
| Cash | 11.96M | 10.24M | 1.80M | 1.15M | 2.44M |
| Total current liabilities | 17.85M | 42.34M | 64.75M | 60.19M | 36.17M |
| Current deferred revenue | 0.39M | 0.19M | 0.09M | 0.06M | 0.03M |
| Net debt | 11.01M | 15.26M | 30.15M | 39.95M | 15.14M |
| Short term debt | 5.79M | 25.30M | 31.45M | 40.67M | 17.04M |
| Short long term debt | 5.64M | 25.30M | 29.96M | 40.67M | 24.94M |
| Short long term debt total | 22.97M | 25.50M | 31.94M | 41.11M | 17.58M |
| Other stockholder equity | 244.28M | 238.69M | 175.84M | 152.75M | 142.56M |
| Property plant equipment | - | - | - | - | 1.01M |
| Total current assets | 24.63M | 18.40M | 9.78M | 6.62M | 7.93M |
| Net tangible assets | - | - | - | - | -52.06M |
| Net receivables | 5.42M | 3.33M | 3.31M | 4.03M | 2.36M |
| Long term debt | 16.32M | - | - | - | 0.88M |
| Inventory | 5.93M | 4.15M | 2.95M | 0.87M | 2.96M |
| Accounts payable | 3.22M | 3.73M | 5.71M | 4.40M | 4.45M |
| Accumulated other comprehensive income | 0.01M | 0.01M | -0.11M | -0.07M | -0.06M |
| Non currrent assets other | 0.07M | - | -36.74M | 0.11M | 0.03M |
| Non current assets total | 12.72M | 11.72M | 12.63M | 13.25M | 15.10M |
| Capital lease obligations | 1.01M | 0.49M | 0.49M | 0.44M | 0.39M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -0.49M | -0.85M | 0.33M | -0.53M |
| Change to liabilities | - | - | - | - | 3.26M |
| Total cashflows from investing activities | 3.43M | -0.49M | 0.02M | - | -0.53M |
| Net borrowings | -5.77M | -2.46M | 5.85M | - | 5.12M |
| Total cash from financing activities | -5.59M | 6.35M | 5.21M | 17.38M | 33.45M |
| Change to operating activities | - | - | - | - | 3.43M |
| Net income | 11.81M | -31.37M | -25.81M | -10.29M | -30.94M |
| Change in cash | 1.72M | 8.44M | 0.64M | 0.53M | 0.68M |
| Begin period cash flow | 10.24M | 1.80M | 1.15M | 0.62M | 1.76M |
| End period cash flow | 11.96M | 10.24M | 1.80M | 1.15M | 2.44M |
| Total cash from operating activities | 3.88M | 2.46M | -4.54M | -17.17M | -12.72M |
| Issuance of capital stock | 0.00M | 10.30M | 0.00M | - | 0.00M |
| Depreciation | 1.28M | 1.15M | 1.03M | 0.95M | 1.01M |
| Other cashflows from investing activities | 5.38M | - | 0.02M | - | - |
| Change to inventory | -2.28M | -1.20M | -2.80M | -0.07M | -0.55M |
| Change to account receivables | -2.30M | -0.49M | -0.05M | -1.75M | -2.58M |
| Other cashflows from financing activities | -0.37M | -1.49M | -0.64M | 20.60M | 17.59M |
| Change to netincome | - | - | - | - | 8.18M |
| Capital expenditures | 1.94M | 0.49M | 0.00M | 1.02M | 0.05M |
| Change in working capital | -4.01M | -2.90M | -3.61M | -1.12M | 1.37M |
| Stock based compensation | 4.85M | 1.51M | 0.22M | -0.47M | 0.02M |
| Other non cash items | -5.21M | 34.07M | 23.84M | -6.24M | 4.57M |
| Free cash flow | 1.93M | 1.97M | -4.54M | -16.15M | -12.77M |
Sector: Healthcare Industry: Medical Devices
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SNWV SANUWAVE Health, Inc. Common Stock |
-0.06 2.67% |
2.19 | 5.27 | 18.25 | 0.80 | 13.23 | 1.09 | 2.39 |
| ABT Abbott Laboratories |
-0.03 0.03% |
109.93 | 25.97 | 17.24 | 3.57 | 3.20 | 3.81 | 16.75 |
| MDT Medtronic PLC |
-3.04 2.90% |
101.80 | 26.60 | 15.87 | 3.35 | 2.08 | 3.90 | 14.12 |
| SYK Stryker Corporation |
-9.21 2.75% |
325.87 | 29.23 | 16.86 | 4.18 | 4.51 | 4.63 | 17.16 |
| SEMHF Siemens Healthineers AG |
-2.15 4.12% |
49.85 | 39.57 | 21.32 | 3.01 | 3.29 | 2.95 | 16.92 |
SANUWAVE Health, Inc. operates as a medical device company in the United States and internationally. It focuses on the commercialization of regenerative medicines through noninvasive ultrasound or shockwaves to produce a biological response promoting the repair and regeneration of tissue, musculoskeletal, and vascular structures. The company markets UltraMist system, a medical device that uses non-thermal ultrasound to treat tissues using a fluid mist to transmit energy in a non-contact and pain free way for use in the treatment of acute and chronic wounds. The company was founded in 2004 and is headquartered in Eden Prairie, Minnesota.
| Name | Title | Year Born |
|---|---|---|
| Mr. Kevin A. Richardson II | CEO & Director | 1968 |
| Mr. Peter Stegagno | Chief Operation Officer | 1960 |
| Ms. Lisa E. Sundstrom | Chief Talent Officer | 1969 |
| Dr. Toni Rinow M.B.A., MBA., Ph.D. | Chief Financial Officer | 1965 |
| Dr. Iulian Cioanta | Chief Science & Technology Officer | 1963 |
| Mr. Jack Schlechtweg | Chief Revenue Officer | 1980 |
| Mr. Morgan C. Frank | CEO & Chairman | 1972 |
| Mr. Daniel Coyle | Chief Operating Officer | 1991 |
| Mr. Timothy Wern | Executive Vice President of Sales - U.S. Wound | 1968 |
| Mr. Peter Sorensen | CFO & Secretary | 1993 |
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