SANUWAVE Health, Inc. (SNWV) 10-Year Financial Performance & Capital Metrics

SNWV • • Industrial / General

HealthcareMedical DevicesOrthopedic & Musculoskeletal DevicesJoint Reconstruction & Orthopedic Implants

AboutSANUWAVE 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.Show more

Revenue $33M +60.0%
EBITDA $7M +1244.7%
Net Income -$31M -21.6%
EPS (Diluted) -7.03 +42.3%
Gross Margin 75.23% +6.8%
EBITDA Margin 20.11% +740.5%
Operating Margin 16.6% +727.0%
Net Margin -96.13% +24.0%
ROE -
ROIC 159.82%
Debt/Equity -
Interest Coverage 0.40 +1249.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong 5Y sales CAGR of 99.7%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Weak momentum: RS Rating 20 (bottom 20%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y44.07%

5Y99.65%

3Y35.87%

TTM40.89%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1710.8%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2112.72%

ROCE

10Y Avg159.82%

5Y Avg159.82%

3Y Avg159.82%

Latest159.82%

Peer Comparison

Joint Reconstruction & Orthopedic Implants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SYKStryker Corporation	136.07B	355.82	45.85	10.23%	12.07%	13.51%	2.56%	0.68
SNNSmith & Nephew plc	13.54B	31.90	33.94	4.7%	6.88%	14.44%	4.48%	0.63
ZBHZimmer Biomet Holdings, Inc.	17.51B	88.34	19.94	3.85%	10.05%	6.31%	6.53%	0.50
CNMDCONMED Corporation	1.24B	40.03	9.40	5%	4.75%	6.35%	12.41%	0.94
DHAIDIH Holding US, Inc.	6.7K	0.00	-0.00	-2.5%	-13.8%
LFWDLifeward Ltd.	12.57M	0.69	-0.21	85.24%	-121.82%	-233.98%		0.05
ANIKAnika Therapeutics, Inc.	137.72M	9.55	-2.49	-0.73%	-40.83%	-22.5%		0.17
SNWVSANUWAVE Health, Inc.	245.02M	28.57	-4.06	59.99%	-17.06%		0.8%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	965.5K	1.38M	738.53K	1.85M	1.03M	4.06M	13.01M	16.74M	20.4M	32.63M
Revenue Growth %	0.14%	0.43%	-0.46%	1.51%	-0.44%	2.94%	2.21%	0.29%	0.22%	0.6%
Cost of Goods Sold+	284.96K	565.13K	241.97K	693.66K	538.92K	1.16M	4.99M	4.33M	6.04M	8.08M
COGS % of Revenue	0.3%	0.41%	0.33%	0.37%	0.52%	0.29%	0.38%	0.26%	0.3%	0.25%
Gross Profit+	680.54K	810.93K	496.56K	1.16M	489.81K	2.9M	8.02M	12.41M	14.36M	24.55M
Gross Margin %	0.7%	0.59%	0.67%	0.63%	0.48%	0.71%	0.62%	0.74%	0.7%	0.75%
Gross Profit Growth %	0.08%	0.19%	-0.39%	1.33%	-0.58%	4.91%	1.77%	0.55%	0.16%	0.71%
Operating Expenses+	5.22M	4.13M	4.32M	8.34M	9.28M	28.09M	22.17M	21.36M	14.9M	19.13M
OpEx % of Revenue	5.4%	3%	5.85%	4.51%	9.02%	6.93%	1.7%	1.28%	0.73%	0.59%
Selling, General & Admin	2.74M	2.67M	3M	7.33M	8.03M	18.88M	20.28M	20.03M	13.57M	17.67M
SG&A % of Revenue	2.83%	1.94%	4.07%	3.96%	7.81%	4.65%	1.56%	1.2%	0.67%	0.54%
Research & Development	2.17M	1.13M	1.29M	1.66M	1.18M	1.25M	1.1M	567K	579K	673K
R&D % of Revenue	2.25%	0.82%	1.75%	0.9%	1.15%	0.31%	0.08%	0.03%	0.03%	0.02%
Other Operating Expenses	310.37K	326.61K	0	9.95K	71.21K	7.97M	784K	766K	752K	789K
Operating Income+	-4.44M	-3.32M	-3.82M	-7.18M	-8.79M	-25.2M	-14.14M	-8.95M	-540K	5.42M
Operating Margin %	-4.6%	-2.41%	-5.18%	-3.88%	-8.55%	-6.21%	-1.09%	-0.53%	-0.03%	0.17%
Operating Income Growth %	0.26%	0.25%	-0.15%	-0.88%	-0.22%	-1.87%	0.44%	0.37%	0.94%	11.03%
EBITDA+	-4.13M	-2.99M	-3.8M	-7.16M	-8.72M	-24.19M	-12.91M	-8M	488K	6.56M
EBITDA Margin %	-4.27%	-2.17%	-5.15%	-3.87%	-8.48%	-5.96%	-0.99%	-0.48%	0.02%	0.2%
EBITDA Growth %	0.27%	0.28%	-0.27%	-0.88%	-0.22%	-1.77%	0.47%	0.38%	1.06%	12.45%
D&A (Non-Cash Add-back)	310.37K	326.61K	24.07K	22.33K	71.21K	1.01M	1.24M	952K	1.03M	1.15M
EBIT	-4.54M	-3.32M	-4.4M	-7.14M	-8.59M	-28.4M	-20.14M	3.84M	-10.18M	-17.71M
Net Interest Income+	-399.83K	-854.98K	-1.14M	-4.5M	-1.84M	-2.54M	-7.09M	-14.13M	-15.62M	-13.64M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	399.83K	854.98K	1.14M	4.5M	1.84M	2.54M	7.09M	14.13M	15.62M	13.64M
Other Income/Expense	-372.51K	-3.12M	-1.71M	-4.45M	-1.64M	-5.74M	-13.09M	-1.34M	-25.26M	-36.76M
Pretax Income+	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.23M	-10.29M	-25.8M	-31.34M
Pretax Margin %	-4.98%	-4.68%	-7.5%	-6.29%	-10.14%	-7.63%	-2.09%	-0.61%	-1.26%	-0.96%
Income Tax+	0	3.12M	0	45.01K	0	0	28K	2K	4K	27K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Net Margin %	-4.98%	-4.68%	-7.5%	-6.29%	-10.14%	-7.63%	-2.1%	-0.61%	-1.27%	-0.96%
Net Income Growth %	0.19%	-0.34%	0.14%	-1.1%	0.1%	-1.97%	0.12%	0.62%	-1.51%	-0.22%
Net Income (Continuing)	-4.81M	-6.41M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-30.00	-22.50	-15.00	-29.17	-19.26	-30.68	-19.72	-7.02	-12.19	-7.03
EPS Growth %	0.33%	0.25%	0.33%	-0.94%	0.34%	-0.59%	0.36%	0.64%	-0.74%	0.42%
EPS (Basic)	-30.00	-22.50	-15.00	-29.17	-19.26	-30.68	-19.72	-7.02	-12.19	-7.03
Diluted Shares Outstanding	168.07K	286.99K	370.24K	398.77K	541.44K	1.01M	1.38M	1.47M	2.12M	4.46M
Basic Shares Outstanding	168.07K	286.99K	370.24K	398.77K	541.44K	1.01M	1.38M	1.47M	2.12M	4.46M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	636.28K	914.15K	1.2M	1.08M	2.5M	7.93M	4.4M	6.62M	9.78M	18.4M
Cash & Short-Term Investments	152.93K	133.57K	730.18K	364.55K	1.76M	2.44M	619K	1.15M	1.8M	10.24M
Cash Only	152.93K	133.57K	730.18K	364.55K	1.76M	2.44M	619K	1.15M	1.8M	10.24M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	74.45K	460.8K	152.52K	236K	75.54K	2.36M	2.42M	4.03M	3.31M	3.33M
Days Sales Outstanding	28.15	122.23	75.38	46.56	26.8	211.96	67.75	87.84	59.3	37.23
Inventory	284.91K	231.95K	231.53K	357.82K	542.96K	2.96M	1.04M	868K	2.95M	4.15M
Days Inventory Outstanding	364.93	149.81	349.25	188.28	367.73	928.52	76.13	73.15	178.48	187.33
Other Current Assets	0	0	0	0	0	0	0	570K	1.72M	682K
Total Non-Current Assets+	322.08K	90.72K	74.29K	94.25K	877.63K	15.1M	14.22M	13.25M	12.63M	11.72M
Property, Plant & Equipment	4.23K	76.94K	60.37K	77.75K	835.7K	1.27M	1.01M	856K	938K	732K
Fixed Asset Turnover	228.36x	17.89x	12.23x	23.79x	1.23x	3.20x	12.86x	19.56x	21.75x	44.58x
Goodwill	0	0	0	0	0	7.26M	7.26M	7.26M	7.26M	7.26M
Intangible Assets	306.76K	0	0	0	0	6.54M	5.84M	5.14M	4.43M	3.73M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	11.1K	13.79K	13.92K	16.49K	41.93K	28K	106K	0	0	0
Total Assets+	958.36K	1M	1.28M	1.18M	3.38M	23.03M	18.62M	19.87M	22.42M	30.12M
Asset Turnover	1.01x	1.37x	0.58x	1.57x	0.30x	0.18x	0.70x	0.84x	0.91x	1.08x
Asset Growth %	-0.79%	0.05%	0.27%	-0.08%	1.87%	5.81%	-0.19%	0.07%	0.13%	0.34%
Total Current Liabilities+	1.49M	7.92M	11.16M	16.49M	12.42M	36.17M	56.26M	60.22M	64.75M	42.34M
Accounts Payable	509.27K	712.96K	1.5M	1.59M	1.44M	4.45M	7.64M	4.4M	5.71M	3.73M
Days Payables Outstanding	652.3	460.48	2.26K	838.03	974.88	1.4K	559.58	370.82	345.04	168.32
Short-Term Debt	0	5.41M	6.05M	10.79M	6.17M	16.59M	27.12M	38.54M	29.96M	25.3M
Deferred Revenue (Current)	0	18.81K	13.32K	131.8K	66.58K	32K	48K	60K	92K	193K
Other Current Liabilities	737.28K	1.71M	2M	3.63M	1.61M	11.42M	13.97M	8.45M	19.18M	10.67M
Current Ratio	0.43x	0.12x	0.11x	0.07x	0.20x	0.22x	0.08x	0.11x	0.15x	0.43x
Quick Ratio	0.24x	0.09x	0.09x	0.04x	0.16x	0.14x	0.06x	0.10x	0.11x	0.34x
Cash Conversion Cycle	-259.23	-188.44	-1.83K	-603.19	-580.35	-258.58	-415.69	-209.83	-107.26	56.24
Total Non-Current Liabilities+	5.35M	0	0	46.74K	1.03M	571K	1.31M	668K	839K	491K
Long-Term Debt	5.35M	0	0	0	0	143K	875K	0	0	0
Capital Lease Obligations	0	0	0	0	457.02K	391K	118K	438K	492K	191K
Deferred Tax Liabilities	0	0	0	0	0	0	28K	28K	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	-28K	0	0
Total Liabilities	6.84M	7.92M	11.16M	16.53M	13.45M	36.74M	57.58M	60.88M	65.59M	42.84M
Total Debt+	5.35M	5.52M	6.05M	10.79M	6.92M	17.58M	28.39M	38.98M	30.45M	25.5M
Net Debt	5.2M	5.39M	5.32M	10.43M	5.16M	15.14M	27.77M	37.82M	28.66M	15.26M
Debt / Equity	-	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	62.41x	3.89x
Net Debt / EBITDA	-	-	-	-	-	-	-	-	58.72x	2.33x
Interest Coverage	-11.10x	-3.88x	-3.36x	-1.60x	-4.79x	-9.92x	-1.99x	-0.63x	-0.03x	0.40x
Total Equity+	-5.88M	-6.91M	-9.88M	-15.36M	-10.06M	-13.72M	-38.96M	-41.01M	-43.18M	-12.72M
Equity Growth %	-2.79%	-0.18%	-0.43%	-0.55%	0.34%	-0.36%	-1.84%	-0.05%	-0.05%	0.71%
Book Value per Share	-34.97	-24.08	-26.69	-38.51	-18.59	-13.60	-28.18	-27.99	-20.40	-2.85
Total Shareholders' Equity	-5.88M	-6.91M	-9.88M	-15.36M	-10.06M	-13.72M	-38.96M	-41.01M	-43.18M	-12.72M
Common Stock	63.06K	137.22K	139.3K	155.66K	293.78K	471K	482K	549K	3K	9K
Retained Earnings	-92.99M	-99.43M	-104.97M	-116.6M	-125.75M	-156.69M	-183.95M	-194.24M	-220.05M	-251.42M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-33.16K	-52.07K	-43.78K	-62.87K	-62.23K	-62K	-73K	-67K	-111K	10K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.47M	-3.2M	-1.53M	-3.62M	-6.41M	-12.72M	-6.41M	-17.17M	-4.54M	2.46M
Operating CF Margin %	-3.6%	-2.33%	-2.07%	-1.96%	-6.23%	-3.13%	-0.49%	-1.03%	-0.22%	0.08%
Operating CF Growth %	0.48%	0.08%	0.52%	-1.37%	-0.77%	-0.98%	0.5%	-1.68%	0.74%	1.54%
Net Income	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Depreciation & Amortization	310.37K	326.61K	24.07K	22.33K	71.21K	1.01M	1.24M	952K	1.03M	1.15M
Stock-Based Compensation	504.53K	547.84K	768.11K	2.48M	333.42K	22K	0	0	0	1.51M
Deferred Taxes	0	2.51M	57.6K	-115.13K	-188.34K	0	28K	2K	4K	0
Other Non-Cash Items	-152.21K	355.47K	1.3M	4.82M	2.09M	15.82M	9.66M	-6.71M	23.84M	34.07M
Working Capital Changes	674.14K	-496K	1.86M	797.85K	1.71M	1.37M	9.93M	-1.12M	-3.61M	-2.9M
Change in Receivables	18K	-412.58K	250.68K	-22.5K	-8.6K	-2.58M	-395K	-1.75M	-53K	-486K
Change in Inventory	-13.04K	-29.25K	-7.08K	-123.12K	-185.13K	-553K	1.69M	-72K	-2.8M	-1.2M
Change in Payables	277.43K	203.7K	783.56K	276.12K	-138.73K	3.02M	3.18M	-2.55M	1.55M	-1.42M
Cash from Investing+	100K	-8.77K	0	-42.89K	-53.94K	-20.05M	-529K	332K	21K	-490K
Capital Expenditures	0	-10.36K	0	-42.89K	-53.94K	-53K	-529K	1.02M	0	-490K
CapEx % of Revenue	-	0.01%	-	0.02%	0.05%	0.01%	0.04%	0.06%	-	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	100K	1.59K	0	0	0	0	0	-1.02M	21K	0
Cash from Financing+	0	3.21M	2.12M	3.32M	7.86M	33.45M	5.12M	17.38M	5.21M	6.35M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	3.19M	403.07K	40.73K	3.81M	81K	1.74M	695K	-639K	-1.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.47M	-3.21M	-1.53M	-3.66M	-6.46M	-12.77M	-6.94M	-16.15M	-4.54M	1.97M
FCF Margin %	-3.6%	-2.33%	-2.07%	-1.98%	-6.28%	-3.15%	-0.53%	-0.96%	-0.22%	0.06%
FCF Growth %	0.48%	0.08%	0.52%	-1.4%	-0.76%	-0.98%	0.46%	-1.33%	0.72%	1.43%
FCF per Share	-20.67	-11.18	-4.13	-9.19	-11.94	-12.67	-5.02	-11.02	-2.14	0.44
FCF Conversion (FCF/Net Income)	0.72x	0.50x	0.28x	0.31x	0.61x	0.41x	0.24x	1.67x	0.18x	-0.08x
Interest Paid	0	0	0	0	0	436K	2.58M	0	1.96M	4.31M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	-	159.82%
Gross Margin	70.49%	58.93%	67.24%	62.51%	47.61%	71.36%	61.68%	74.13%	70.41%	75.23%
Net Margin	-498.22%	-467.93%	-749.86%	-628.7%	-1013.86%	-762.56%	-209.52%	-61.48%	-126.52%	-96.13%
Interest Coverage	-11.10x	-3.88x	-3.36x	-1.60x	-4.79x	-9.92x	-1.99x	-0.63x	-0.03x	0.40x
FCF Conversion	0.72x	0.50x	0.28x	0.31x	0.61x	0.41x	0.24x	1.67x	0.18x	-0.08x
Revenue Growth	13.94%	42.52%	-46.33%	150.51%	-44.39%	294.37%	220.68%	28.69%	21.84%	59.99%

Revenue by Segment

	2020	2021	2022	2023	2024
Consumables and Parts	-	-	-	13.22M	21.14M
Consumables and Parts Growth	-	-	-	-	59.85%
System Revenue	-	-	5.33M	5.96M	11.15M
System Revenue Growth	-	-	-	11.81%	87.26%
License Fees and Other	152.22K	-	321K	76K	40K
License Fees and Other Growth	-	-	-	-76.32%	-47.37%
Accessories And Parts	1.64M	-	9.86M	-	-
Accessories And Parts Growth	-	-	-	-	-
Accessory and Parts Revenue	-	8.07M	-	-	-
Accessory and Parts Revenue Growth	-	-	-	-	-
Product	2.27M	3.12M	-	-	-
Product Growth	-	37.43%	-	-	-
Rental Income	-	1.63M	-	-	-
Rental Income Growth	-	-	-	-	-
License and Other	-	195K	-	-	-
License and Other Growth	-	-	-	-	-

Revenue by Geography

	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	32.4M
UNITED STATES Growth	-	-	-	-	-
Non-US	328.92K	350K	259K	230K	235K
Non-US Growth	-	6.41%	-26.00%	-11.20%	2.17%
United States	3.73M	12.3M	16.48M	20.17M	-
United States Growth	-	229.83%	34.03%	22.36%	-

Frequently Asked Questions

Growth & Financials

SANUWAVE Health, Inc. (SNWV) reported $41.3M in revenue for fiscal year 2024. This represents a 5044% increase from $0.8M in 2011.

SANUWAVE Health, Inc. (SNWV) grew revenue by 60.0% over the past year. This is strong growth.

SANUWAVE Health, Inc. (SNWV) reported a net loss of $7.0M for fiscal year 2024.

Dividend & Returns

SANUWAVE Health, Inc. (SNWV) had negative free cash flow of $0.8M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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SANUWAVE Health, Inc. (SNWV) 10-Year Financial Performance & Capital Metrics

SNWV • • Industrial / General

HealthcareMedical DevicesOrthopedic & Musculoskeletal DevicesJoint Reconstruction & Orthopedic Implants

Revenue $33M +60.0%
EBITDA $7M +1244.7%
Net Income -$31M -21.6%
EPS (Diluted) -7.03 +42.3%
Gross Margin 75.23% +6.8%
EBITDA Margin 20.11% +740.5%
Operating Margin 16.6% +727.0%
Net Margin -96.13% +24.0%
ROE -
ROIC 159.82%
Debt/Equity -
Interest Coverage 0.40 +1249.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong 5Y sales CAGR of 99.7%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Weak momentum: RS Rating 20 (bottom 20%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y44.07%

5Y99.65%

3Y35.87%

TTM40.89%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1710.8%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2112.72%

ROCE

10Y Avg159.82%

5Y Avg159.82%

3Y Avg159.82%

Latest159.82%

Peer Comparison

Joint Reconstruction & Orthopedic Implants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SYKStryker Corporation	136.07B	355.82	45.85	10.23%	12.07%	13.51%	2.56%	0.68
SNNSmith & Nephew plc	13.54B	31.90	33.94	4.7%	6.88%	14.44%	4.48%	0.63
ZBHZimmer Biomet Holdings, Inc.	17.51B	88.34	19.94	3.85%	10.05%	6.31%	6.53%	0.50
CNMDCONMED Corporation	1.24B	40.03	9.40	5%	4.75%	6.35%	12.41%	0.94
DHAIDIH Holding US, Inc.	6.7K	0.00	-0.00	-2.5%	-13.8%
LFWDLifeward Ltd.	12.57M	0.69	-0.21	85.24%	-121.82%	-233.98%		0.05
ANIKAnika Therapeutics, Inc.	137.72M	9.55	-2.49	-0.73%	-40.83%	-22.5%		0.17
SNWVSANUWAVE Health, Inc.	245.02M	28.57	-4.06	59.99%	-17.06%		0.8%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	965.5K	1.38M	738.53K	1.85M	1.03M	4.06M	13.01M	16.74M	20.4M	32.63M
Revenue Growth %	0.14%	0.43%	-0.46%	1.51%	-0.44%	2.94%	2.21%	0.29%	0.22%	0.6%
Cost of Goods Sold+	284.96K	565.13K	241.97K	693.66K	538.92K	1.16M	4.99M	4.33M	6.04M	8.08M
COGS % of Revenue	0.3%	0.41%	0.33%	0.37%	0.52%	0.29%	0.38%	0.26%	0.3%	0.25%
Gross Profit+	680.54K	810.93K	496.56K	1.16M	489.81K	2.9M	8.02M	12.41M	14.36M	24.55M
Gross Margin %	0.7%	0.59%	0.67%	0.63%	0.48%	0.71%	0.62%	0.74%	0.7%	0.75%
Gross Profit Growth %	0.08%	0.19%	-0.39%	1.33%	-0.58%	4.91%	1.77%	0.55%	0.16%	0.71%
Operating Expenses+	5.22M	4.13M	4.32M	8.34M	9.28M	28.09M	22.17M	21.36M	14.9M	19.13M
OpEx % of Revenue	5.4%	3%	5.85%	4.51%	9.02%	6.93%	1.7%	1.28%	0.73%	0.59%
Selling, General & Admin	2.74M	2.67M	3M	7.33M	8.03M	18.88M	20.28M	20.03M	13.57M	17.67M
SG&A % of Revenue	2.83%	1.94%	4.07%	3.96%	7.81%	4.65%	1.56%	1.2%	0.67%	0.54%
Research & Development	2.17M	1.13M	1.29M	1.66M	1.18M	1.25M	1.1M	567K	579K	673K
R&D % of Revenue	2.25%	0.82%	1.75%	0.9%	1.15%	0.31%	0.08%	0.03%	0.03%	0.02%
Other Operating Expenses	310.37K	326.61K	0	9.95K	71.21K	7.97M	784K	766K	752K	789K
Operating Income+	-4.44M	-3.32M	-3.82M	-7.18M	-8.79M	-25.2M	-14.14M	-8.95M	-540K	5.42M
Operating Margin %	-4.6%	-2.41%	-5.18%	-3.88%	-8.55%	-6.21%	-1.09%	-0.53%	-0.03%	0.17%
Operating Income Growth %	0.26%	0.25%	-0.15%	-0.88%	-0.22%	-1.87%	0.44%	0.37%	0.94%	11.03%
EBITDA+	-4.13M	-2.99M	-3.8M	-7.16M	-8.72M	-24.19M	-12.91M	-8M	488K	6.56M
EBITDA Margin %	-4.27%	-2.17%	-5.15%	-3.87%	-8.48%	-5.96%	-0.99%	-0.48%	0.02%	0.2%
EBITDA Growth %	0.27%	0.28%	-0.27%	-0.88%	-0.22%	-1.77%	0.47%	0.38%	1.06%	12.45%
D&A (Non-Cash Add-back)	310.37K	326.61K	24.07K	22.33K	71.21K	1.01M	1.24M	952K	1.03M	1.15M
EBIT	-4.54M	-3.32M	-4.4M	-7.14M	-8.59M	-28.4M	-20.14M	3.84M	-10.18M	-17.71M
Net Interest Income+	-399.83K	-854.98K	-1.14M	-4.5M	-1.84M	-2.54M	-7.09M	-14.13M	-15.62M	-13.64M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	399.83K	854.98K	1.14M	4.5M	1.84M	2.54M	7.09M	14.13M	15.62M	13.64M
Other Income/Expense	-372.51K	-3.12M	-1.71M	-4.45M	-1.64M	-5.74M	-13.09M	-1.34M	-25.26M	-36.76M
Pretax Income+	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.23M	-10.29M	-25.8M	-31.34M
Pretax Margin %	-4.98%	-4.68%	-7.5%	-6.29%	-10.14%	-7.63%	-2.09%	-0.61%	-1.26%	-0.96%
Income Tax+	0	3.12M	0	45.01K	0	0	28K	2K	4K	27K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Net Margin %	-4.98%	-4.68%	-7.5%	-6.29%	-10.14%	-7.63%	-2.1%	-0.61%	-1.27%	-0.96%
Net Income Growth %	0.19%	-0.34%	0.14%	-1.1%	0.1%	-1.97%	0.12%	0.62%	-1.51%	-0.22%
Net Income (Continuing)	-4.81M	-6.41M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-30.00	-22.50	-15.00	-29.17	-19.26	-30.68	-19.72	-7.02	-12.19	-7.03
EPS Growth %	0.33%	0.25%	0.33%	-0.94%	0.34%	-0.59%	0.36%	0.64%	-0.74%	0.42%
EPS (Basic)	-30.00	-22.50	-15.00	-29.17	-19.26	-30.68	-19.72	-7.02	-12.19	-7.03
Diluted Shares Outstanding	168.07K	286.99K	370.24K	398.77K	541.44K	1.01M	1.38M	1.47M	2.12M	4.46M
Basic Shares Outstanding	168.07K	286.99K	370.24K	398.77K	541.44K	1.01M	1.38M	1.47M	2.12M	4.46M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	636.28K	914.15K	1.2M	1.08M	2.5M	7.93M	4.4M	6.62M	9.78M	18.4M
Cash & Short-Term Investments	152.93K	133.57K	730.18K	364.55K	1.76M	2.44M	619K	1.15M	1.8M	10.24M
Cash Only	152.93K	133.57K	730.18K	364.55K	1.76M	2.44M	619K	1.15M	1.8M	10.24M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	74.45K	460.8K	152.52K	236K	75.54K	2.36M	2.42M	4.03M	3.31M	3.33M
Days Sales Outstanding	28.15	122.23	75.38	46.56	26.8	211.96	67.75	87.84	59.3	37.23
Inventory	284.91K	231.95K	231.53K	357.82K	542.96K	2.96M	1.04M	868K	2.95M	4.15M
Days Inventory Outstanding	364.93	149.81	349.25	188.28	367.73	928.52	76.13	73.15	178.48	187.33
Other Current Assets	0	0	0	0	0	0	0	570K	1.72M	682K
Total Non-Current Assets+	322.08K	90.72K	74.29K	94.25K	877.63K	15.1M	14.22M	13.25M	12.63M	11.72M
Property, Plant & Equipment	4.23K	76.94K	60.37K	77.75K	835.7K	1.27M	1.01M	856K	938K	732K
Fixed Asset Turnover	228.36x	17.89x	12.23x	23.79x	1.23x	3.20x	12.86x	19.56x	21.75x	44.58x
Goodwill	0	0	0	0	0	7.26M	7.26M	7.26M	7.26M	7.26M
Intangible Assets	306.76K	0	0	0	0	6.54M	5.84M	5.14M	4.43M	3.73M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	11.1K	13.79K	13.92K	16.49K	41.93K	28K	106K	0	0	0
Total Assets+	958.36K	1M	1.28M	1.18M	3.38M	23.03M	18.62M	19.87M	22.42M	30.12M
Asset Turnover	1.01x	1.37x	0.58x	1.57x	0.30x	0.18x	0.70x	0.84x	0.91x	1.08x
Asset Growth %	-0.79%	0.05%	0.27%	-0.08%	1.87%	5.81%	-0.19%	0.07%	0.13%	0.34%
Total Current Liabilities+	1.49M	7.92M	11.16M	16.49M	12.42M	36.17M	56.26M	60.22M	64.75M	42.34M
Accounts Payable	509.27K	712.96K	1.5M	1.59M	1.44M	4.45M	7.64M	4.4M	5.71M	3.73M
Days Payables Outstanding	652.3	460.48	2.26K	838.03	974.88	1.4K	559.58	370.82	345.04	168.32
Short-Term Debt	0	5.41M	6.05M	10.79M	6.17M	16.59M	27.12M	38.54M	29.96M	25.3M
Deferred Revenue (Current)	0	18.81K	13.32K	131.8K	66.58K	32K	48K	60K	92K	193K
Other Current Liabilities	737.28K	1.71M	2M	3.63M	1.61M	11.42M	13.97M	8.45M	19.18M	10.67M
Current Ratio	0.43x	0.12x	0.11x	0.07x	0.20x	0.22x	0.08x	0.11x	0.15x	0.43x
Quick Ratio	0.24x	0.09x	0.09x	0.04x	0.16x	0.14x	0.06x	0.10x	0.11x	0.34x
Cash Conversion Cycle	-259.23	-188.44	-1.83K	-603.19	-580.35	-258.58	-415.69	-209.83	-107.26	56.24
Total Non-Current Liabilities+	5.35M	0	0	46.74K	1.03M	571K	1.31M	668K	839K	491K
Long-Term Debt	5.35M	0	0	0	0	143K	875K	0	0	0
Capital Lease Obligations	0	0	0	0	457.02K	391K	118K	438K	492K	191K
Deferred Tax Liabilities	0	0	0	0	0	0	28K	28K	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	-28K	0	0
Total Liabilities	6.84M	7.92M	11.16M	16.53M	13.45M	36.74M	57.58M	60.88M	65.59M	42.84M
Total Debt+	5.35M	5.52M	6.05M	10.79M	6.92M	17.58M	28.39M	38.98M	30.45M	25.5M
Net Debt	5.2M	5.39M	5.32M	10.43M	5.16M	15.14M	27.77M	37.82M	28.66M	15.26M
Debt / Equity	-	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	62.41x	3.89x
Net Debt / EBITDA	-	-	-	-	-	-	-	-	58.72x	2.33x
Interest Coverage	-11.10x	-3.88x	-3.36x	-1.60x	-4.79x	-9.92x	-1.99x	-0.63x	-0.03x	0.40x
Total Equity+	-5.88M	-6.91M	-9.88M	-15.36M	-10.06M	-13.72M	-38.96M	-41.01M	-43.18M	-12.72M
Equity Growth %	-2.79%	-0.18%	-0.43%	-0.55%	0.34%	-0.36%	-1.84%	-0.05%	-0.05%	0.71%
Book Value per Share	-34.97	-24.08	-26.69	-38.51	-18.59	-13.60	-28.18	-27.99	-20.40	-2.85
Total Shareholders' Equity	-5.88M	-6.91M	-9.88M	-15.36M	-10.06M	-13.72M	-38.96M	-41.01M	-43.18M	-12.72M
Common Stock	63.06K	137.22K	139.3K	155.66K	293.78K	471K	482K	549K	3K	9K
Retained Earnings	-92.99M	-99.43M	-104.97M	-116.6M	-125.75M	-156.69M	-183.95M	-194.24M	-220.05M	-251.42M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-33.16K	-52.07K	-43.78K	-62.87K	-62.23K	-62K	-73K	-67K	-111K	10K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.47M	-3.2M	-1.53M	-3.62M	-6.41M	-12.72M	-6.41M	-17.17M	-4.54M	2.46M
Operating CF Margin %	-3.6%	-2.33%	-2.07%	-1.96%	-6.23%	-3.13%	-0.49%	-1.03%	-0.22%	0.08%
Operating CF Growth %	0.48%	0.08%	0.52%	-1.37%	-0.77%	-0.98%	0.5%	-1.68%	0.74%	1.54%
Net Income	-4.81M	-6.44M	-5.54M	-11.63M	-10.43M	-30.94M	-27.26M	-10.29M	-25.81M	-31.37M
Depreciation & Amortization	310.37K	326.61K	24.07K	22.33K	71.21K	1.01M	1.24M	952K	1.03M	1.15M
Stock-Based Compensation	504.53K	547.84K	768.11K	2.48M	333.42K	22K	0	0	0	1.51M
Deferred Taxes	0	2.51M	57.6K	-115.13K	-188.34K	0	28K	2K	4K	0
Other Non-Cash Items	-152.21K	355.47K	1.3M	4.82M	2.09M	15.82M	9.66M	-6.71M	23.84M	34.07M
Working Capital Changes	674.14K	-496K	1.86M	797.85K	1.71M	1.37M	9.93M	-1.12M	-3.61M	-2.9M
Change in Receivables	18K	-412.58K	250.68K	-22.5K	-8.6K	-2.58M	-395K	-1.75M	-53K	-486K
Change in Inventory	-13.04K	-29.25K	-7.08K	-123.12K	-185.13K	-553K	1.69M	-72K	-2.8M	-1.2M
Change in Payables	277.43K	203.7K	783.56K	276.12K	-138.73K	3.02M	3.18M	-2.55M	1.55M	-1.42M
Cash from Investing+	100K	-8.77K	0	-42.89K	-53.94K	-20.05M	-529K	332K	21K	-490K
Capital Expenditures	0	-10.36K	0	-42.89K	-53.94K	-53K	-529K	1.02M	0	-490K
CapEx % of Revenue	-	0.01%	-	0.02%	0.05%	0.01%	0.04%	0.06%	-	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	100K	1.59K	0	0	0	0	0	-1.02M	21K	0
Cash from Financing+	0	3.21M	2.12M	3.32M	7.86M	33.45M	5.12M	17.38M	5.21M	6.35M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	3.19M	403.07K	40.73K	3.81M	81K	1.74M	695K	-639K	-1.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.47M	-3.21M	-1.53M	-3.66M	-6.46M	-12.77M	-6.94M	-16.15M	-4.54M	1.97M
FCF Margin %	-3.6%	-2.33%	-2.07%	-1.98%	-6.28%	-3.15%	-0.53%	-0.96%	-0.22%	0.06%
FCF Growth %	0.48%	0.08%	0.52%	-1.4%	-0.76%	-0.98%	0.46%	-1.33%	0.72%	1.43%
FCF per Share	-20.67	-11.18	-4.13	-9.19	-11.94	-12.67	-5.02	-11.02	-2.14	0.44
FCF Conversion (FCF/Net Income)	0.72x	0.50x	0.28x	0.31x	0.61x	0.41x	0.24x	1.67x	0.18x	-0.08x
Interest Paid	0	0	0	0	0	436K	2.58M	0	1.96M	4.31M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	-	159.82%
Gross Margin	70.49%	58.93%	67.24%	62.51%	47.61%	71.36%	61.68%	74.13%	70.41%	75.23%
Net Margin	-498.22%	-467.93%	-749.86%	-628.7%	-1013.86%	-762.56%	-209.52%	-61.48%	-126.52%	-96.13%
Interest Coverage	-11.10x	-3.88x	-3.36x	-1.60x	-4.79x	-9.92x	-1.99x	-0.63x	-0.03x	0.40x
FCF Conversion	0.72x	0.50x	0.28x	0.31x	0.61x	0.41x	0.24x	1.67x	0.18x	-0.08x
Revenue Growth	13.94%	42.52%	-46.33%	150.51%	-44.39%	294.37%	220.68%	28.69%	21.84%	59.99%

Revenue by Segment

	2020	2021	2022	2023	2024
Consumables and Parts	-	-	-	13.22M	21.14M
Consumables and Parts Growth	-	-	-	-	59.85%
System Revenue	-	-	5.33M	5.96M	11.15M
System Revenue Growth	-	-	-	11.81%	87.26%
License Fees and Other	152.22K	-	321K	76K	40K
License Fees and Other Growth	-	-	-	-76.32%	-47.37%
Accessories And Parts	1.64M	-	9.86M	-	-
Accessories And Parts Growth	-	-	-	-	-
Accessory and Parts Revenue	-	8.07M	-	-	-
Accessory and Parts Revenue Growth	-	-	-	-	-
Product	2.27M	3.12M	-	-	-
Product Growth	-	37.43%	-	-	-
Rental Income	-	1.63M	-	-	-
Rental Income Growth	-	-	-	-	-
License and Other	-	195K	-	-	-
License and Other Growth	-	-	-	-	-

Revenue by Geography

	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	32.4M
UNITED STATES Growth	-	-	-	-	-
Non-US	328.92K	350K	259K	230K	235K
Non-US Growth	-	6.41%	-26.00%	-11.20%	2.17%
United States	3.73M	12.3M	16.48M	20.17M	-
United States Growth	-	229.83%	34.03%	22.36%	-

Frequently Asked Questions

Growth & Financials

SANUWAVE Health, Inc. (SNWV) reported $41.3M in revenue for fiscal year 2024. This represents a 5044% increase from $0.8M in 2011.

SANUWAVE Health, Inc. (SNWV) grew revenue by 60.0% over the past year. This is strong growth.

SANUWAVE Health, Inc. (SNWV) reported a net loss of $7.0M for fiscal year 2024.

Dividend & Returns

SANUWAVE Health, Inc. (SNWV) had negative free cash flow of $0.8M in fiscal year 2024, likely due to heavy capital investments.