Sanuwave Health (SNWV) AI Stock Analysis

• Market Cap: $264.80M
• Dividend Yield: N/A
• Average Volume (3M): 49.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: 61.50%
• EPS Growth: 34.99%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 55
• Industry: Medical - Devices
• EPS (TTM): -0.66
• Shares Outstanding: 8,555,616
• 10 Day Avg. Volume: 60,590
• 30 Day Avg. Volume: 49,253
• PEG Ratio: 0.97
• Price to Book (P/B): -14.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -368.62
• Enterprise Value/Market Cap: 0.95
• Enterprise Value/Revenue: 2.04
• Enterprise Value/Gross Profit: 9.03
• Enterprise Value/Ebitda: 13.40
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 48 Neutral
• Price Target: $30.00 ▼(-3.07%Downside)

The most significant factor affecting Sanuwave Health's stock score is its financial performance, which shows strong revenue growth but significant profitability and stability challenges. The technical analysis provides a slightly positive outlook, while the valuation highlights the company's difficulties with its negative P/E ratio. The earnings call provides a balanced view with notable growth but also financial 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 primarily through the sale and leasing of its medical devices, such as the dermaPACE and orthoPACE systems. These devices are designed for healthcare providers and clinics that treat chronic wounds, musculoskeletal disorders, and other related conditions. The company also earns income from service agreements, maintenance contracts, and consumable sales related to its devices. Furthermore, Sanuwave may engage in strategic partnerships or licensing agreements to enhance its market reach and product offerings, contributing additional revenue streams.

Sanuwave Health Financial Statement Overview

Summary

Sanuwave Health demonstrates strong revenue growth but struggles with profitability and financial stability. The balance sheet reflects high leverage and negative equity, posing significant risks. While there are some improvements in cash flow, the company remains dependent on external financing.

Income Statement

Sanuwave Health's revenue has shown significant growth over recent years, with a TTM revenue increase of 10.9% compared to the previous annual period. However, the company remains unprofitable, recording a negative net income for the TTM. EBIT and EBITDA margins are also negative, indicating ongoing operational challenges.

Balance Sheet

The balance sheet shows a concerning financial position with negative stockholders' equity and high total liabilities. The debt-to-equity ratio is not calculable due to negative equity, and the equity ratio is also negative, indicating insolvency risks. Despite a reduction in net debt, overall leverage remains a significant risk factor.

Cash Flow

Operating cash flow has improved in recent periods, turning negative to slightly positive in the previous annual report before slipping back to negative in the TTM period. Free cash flow remains volatile but shows some signs of improvement. The company is still heavily reliant on financing activities for cash generation.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
36.19M	32.63M	20.40M	16.74M	13.01M	4.06M
	Gross Profit
27.73M	24.55M	14.36M	12.41M	8.02M	2.90M
	EBIT
7.45M	5.42M	-540.00K	-8.95M	-14.14M	-18.01M
	EBITDA
-4.09M	-16.56M	-9.15M	-8.00M	-18.90M	-27.38M
	Net Income Common Stockholders
-32.52M	-31.37M	-25.81M	-10.29M	-27.26M	-34.08M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
313.00K	10.24M	1.80M	1.15M	619.00K	2.44M
	Total Assets
17.01M	30.12M	22.42M	19.87M	18.62M	23.03M
	Total Debt
25.36M	25.50M	31.94M	41.11M	26.20M	17.58M
	Net Debt
25.04M	15.26M	30.15M	39.95M	25.58M	15.14M
	Total Liabilities
54.40M	42.84M	65.59M	60.88M	57.58M	36.75M
	Stockholders Equity
-37.39M	-12.72M	-43.18M	-41.01M	-38.96M	-13.72M
Cash Flow		Free Cash Flow
-700.00K	1.97M	-4.54M	-16.15M	-6.94M	-12.77M
	Operating Cash Flow
-162.00K	2.46M	-4.54M	-17.17M	-6.41M	-12.72M
	Investing Cash Flow
-538.00K	-490.00K	21.00K	332.00K	-529.00K	-20.05M
	Financing Cash Flow
6.25M	6.35M	5.21M	17.38M	5.12M	33.45M

Sanuwave Health Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 30.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 30.95 is above the 20-day moving average (MA) of 28.98, above the 50-day MA of 29.61, and above the 200-day MA of 23.35, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 54.90 is Neutral, neither overbought nor oversold. The STOCH value of 75.36 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
VMD	75 Outperform	$262.83M	22.29	9.79%	―	19.97%	17.21%
RCEL	55 Neutral	$146.45M	―	-407.50%	―	32.24%	-66.93%
Sector *	54 Neutral	$5.34B	3.27	-45.10%	3.30%	16.80%	0.02%
ZIMV	51 Neutral	$254.09M	―	-6.35%	―	-32.70%	94.89%
SNWV	48 Neutral	$264.80M	―	0.65%	―	61.50%	34.99%
MXCT		£172.66M	―	-19.62%	―	―	―
NNOX	47 Neutral	$321.36M	―	-30.11%	―	15.32%	15.73%

Sanuwave Health Corporate Events

Sanuwave Health Appoints New EVP for Commercial Ops

On May 30, 2025, Sanuwave Health terminated its Chief Commercial Officer, Nanci Gilmore, without cause, and she is entitled to a severance package. Subsequently, on June 3, 2025, Dustin Libby was appointed as Executive Vice President of Commercial Operations, bringing extensive experience in scaling medical device companies, which is expected to drive growth and strengthen Sanuwave’s position in the wound care market.

Sanuwave Health Appoints Gregory Bazar to Board

On May 26, 2025, A. Michael Stolarski resigned from the Board of Directors of Sanuwave Health, Inc., effective May 27, 2025. His resignation was not due to any disagreements with the company. To fill the vacancy, Gregory Bazar was appointed to the Board and the Compensation Committee, effective May 27, 2025. Bazar received stock options as part of his compensation, which will vest quarterly over ten years.