Sanuwave Health (SNWV) AI Stock Analysis

• Market Cap: $298.85M
• Dividend Yield: N/A
• Average Volume (3M): 46.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.04
• Revenue Growth: 57.43%
• EPS Growth: -155.29%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.01
• Shares Outstanding: 8,568,005
• 10 Day Avg. Volume: 45,458
• 30 Day Avg. Volume: 46,390
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 8.18
• Enterprise Value/Gross Profit: 10.53
• Enterprise Value/Ebitda: -14.57
• 1Y Price Target: $55.00
• Price Target Upside: 57.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 41 Neutral
• Price Target: $34.00 ▼(-2.52% Downside)

Sanuwave Health's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. Technical analysis indicates bearish momentum, while the earnings call provides some optimism with revenue growth and strategic initiatives. However, significant risks remain due to financial instability and profitability challenges.

Sanuwave Health Business Overview & Revenue Model

Company Description

SANUWAVE Health, Inc., a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. The company's lead regenerative product is the dermaPACE device for treating diabetic foot ulcers. Its portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, which helps to restore the body's normal healing processes and regeneration. The company also focuses on applying its Pulsed Acoustic Cellular Expression technology in wound healing, orthopedic, plastic/cosmetic, and cardiac conditions. In addition, it offers UltraMIST, non-contact and non-thermal ultrasound therapy device used to treat diabetic foot ulcers, pressure ulcers, venous leg ulcers, deep tissue pressure injuries, and surgical wounds; and orthoPACE system to treat tendinopathies and acute and nonunion fractures. The company was founded in 2005 and is headquartered in Suwanee, Georgia.

How the Company Makes Money

Sanuwave Health generates revenue through the sale of its medical devices and systems, primarily targeting healthcare providers, clinics, and hospitals. The company’s revenue model is based on direct product sales, rental agreements, and service contracts for its devices. Additionally, Sanuwave may engage in strategic partnerships with medical institutions and distributors to expand its market reach. The company also explores opportunities for reimbursement from insurance providers for its treatments, which can significantly enhance its revenue potential. By continuously investing in research and development, Sanuwave aims to broaden its product offerings and increase its market penetration, thereby contributing to its earnings growth.

Sanuwave Health Financial Statement Overview

Summary

Sanuwave Health shows revenue growth but struggles with profitability and financial stability. Negative equity and cash flow issues pose significant risks, despite a strong gross profit margin.

Income Statement

Sanuwave Health shows a positive revenue growth trend with an 8.3% increase in the TTM. However, the company struggles with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin is relatively strong at 77.7%, suggesting efficient cost management, but the overall profitability is hindered by high operating expenses.

Balance Sheet

The balance sheet reveals significant financial instability, with negative stockholders' equity and a concerning debt-to-equity ratio. The negative equity indicates potential solvency issues, while the high return on equity is misleading due to the negative equity base. The equity ratio is also negative, highlighting a risky financial structure.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, with a negative free cash flow in the TTM. The operating cash flow to net income ratio is low, indicating challenges in converting income into cash. The free cash flow to net income ratio is negative, reflecting cash flow difficulties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.19M	32.63M	20.40M	16.74M	13.01M	4.06M
Gross Profit	30.45M	24.55M	14.36M	12.41M	8.02M	2.90M
EBITDA	-22.01M	-16.56M	-9.15M	4.79M	-18.90M	-27.38M
Net Income	-38.03M	-31.37M	-25.81M	-10.29M	-27.26M	-30.94M
Balance Sheet
Total Assets	33.05M	30.12M	22.42M	19.87M	18.62M	23.03M
Cash, Cash Equivalents and Short-Term Investments	8.50M	10.24M	1.80M	1.15M	619.00K	2.44M
Total Debt	1.18M	25.50M	31.94M	41.11M	26.20M	17.58M
Total Liabilities	47.82M	42.84M	65.59M	60.88M	57.58M	36.75M
Stockholders Equity	-14.78M	-12.72M	-43.18M	-41.01M	-38.96M	-13.72M
Cash Flow
Free Cash Flow	-106.00K	1.97M	-4.54M	-16.15M	-6.94M	-12.77M
Operating Cash Flow	1.50M	2.46M	-4.54M	-17.17M	-6.41M	-12.72M
Investing Cash Flow	-1.60M	-490.00K	21.00K	332.00K	-529.00K	-20.05M
Financing Cash Flow	6.14M	6.35M	5.21M	17.38M	5.12M	33.45M

Sanuwave Health Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 34.88
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNWV, the sentiment is Neutral. The current price of 34.88 is below the 20-day moving average (MA) of 38.47, below the 50-day MA of 37.76, and above the 200-day MA of 30.83, indicating a neutral trend. The MACD of -1.00 indicates Positive momentum. The RSI at 42.29 is Neutral, neither overbought nor oversold. The STOCH value of 24.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SNWV.

Sanuwave Health Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VMD	71 Outperform	261.03M	19.86	10.00%	―	17.11%	45.34%
ZIMV	67 Neutral	533.28M	-27.19	-4.72%	―	-19.52%	94.65%
RCEL	42 Neutral	145.61M	-2.78	0.00%	―	38.32%	-1.31%
SNWV	41 Neutral	$298.85M	―	0.65%	―	57.43%	-155.29%
NNOX	40 Underperform	253.14M	-4.39	-28.30%	―	17.36%	9.38%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Sanuwave Health Corporate Events

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.