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SANUWAVE Announces Record Quarterly Revenues: Q2 FY2024 Financial Results

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SANUWAVE Health (OTCQB: SNWV) reported record quarterly revenues for Q2 FY2024. Key highlights include:

- Q2 2024 revenues of $7.2 million, up 53% year-over-year
- Gross margin of 73%, slightly down from 74% in Q2 2023
- GAAP Operating Income of $2.0 million
- Net income of $6.6 million, compared to a net loss of $7.3 million in Q2 2023
- Adjusted EBITDA of $1.5 million, up from $171,000 in Q2 2023
- 72 UltraMist® systems sold, up from 49 in Q2 2023
- UltraMist® consumables revenue increased by 67% to $4.7 million

The company provided guidance for Q3 2024, expecting revenue growth of 65-75% compared to Q3 2023. SANUWAVE also secured approval for a reverse stock split and 100% participation in its note and warrant exchange offer.

SANUWAVE Health (OTCQB: SNWV) ha riportato ricavi trimestrali record per il secondo trimestre dell'anno fiscale 2024. I punti salienti includono:

- Ricavi del Q2 2024 di 7,2 milioni di dollari, in aumento del 53% rispetto all'anno precedente
- Margine lordo del 73%, leggermente in calo rispetto al 74% del Q2 2023
- Reddito operativo GAAP di 2,0 milioni di dollari
- Utile netto di 6,6 milioni di dollari, rispetto a una perdita netta di 7,3 milioni di dollari nel Q2 2023
- EBITDA corretto di 1,5 milioni di dollari, rispetto a 171.000 dollari nel Q2 2023
- Vendita di 72 sistemi UltraMist®, in aumento rispetto ai 49 del Q2 2023
- I ricavi dai consumabili UltraMist® sono aumentati del 67% raggiungendo 4,7 milioni di dollari

L'azienda ha fornito indicazioni per il Q3 2024, prevedendo una crescita dei ricavi del 65-75% rispetto al Q3 2023. SANUWAVE ha inoltre ottenuto l'approvazione per uno split azionario inverso e una partecipazione del 100% nella sua offerta di scambio di note e warrant.

SANUWAVE Health (OTCQB: SNWV) reportó ingresos trimestrales récord para el segundo trimestre del año fiscal 2024. Los aspectos más destacados incluyen:

- Ingresos del Q2 2024 de 7.2 millones de dólares, un aumento del 53% en comparación con el año anterior
- Margen bruto del 73%, ligeramente inferior al 74% en el Q2 2023
- Ingreso operativo GAAP de 2.0 millones de dólares
- Ingreso neto de 6.6 millones de dólares, en comparación con una pérdida neta de 7.3 millones de dólares en el Q2 2023
- EBITDA ajustado de 1.5 millones de dólares, en comparación con 171,000 dólares en el Q2 2023
- 72 sistemas UltraMist® vendidos, en comparación con 49 en el Q2 2023
- Los ingresos por consumibles UltraMist® aumentaron un 67% a 4.7 millones de dólares

La empresa proporcionó una guía para el Q3 2024, anticipando un crecimiento de ingresos del 65-75% en comparación con el Q3 2023. SANUWAVE también aseguró la aprobación para un desdoblamiento inverso de acciones y una participación del 100% en su oferta de intercambio de notas y warrants.

SANUWAVE Health (OTCQB: SNWV)는 2024 회계연도 2분기 동안 기록적인 분기 매출을 보고했습니다. 주요 하이라이트는 다음과 같습니다:

- 2024년 2분기 매출 720만 달러, 전년 대비 53% 증가
- 총 마진 73%, 2023년 2분기 74%에서 약간 감소
- GAAP 운영 소득 200만 달러
- 순이익 660만 달러, 2023년 2분기 730만 달러의 순손실과 비교
- 조정된 EBITDA 150만 달러, 2023년 2분기 171,000 달러에서 증가
- 72대 UltraMist® 시스템 판매, 2023년 2분기 49대에서 증가
- UltraMist® 소모품 매출 67% 증가하여 470만 달러에 이르렀습니다.

회사는 2024년 3분기를 위한 가이드를 제공하며, 2023년 3분기 대비 65-75%의 매출 성장을 기대하고 있습니다. SANUWAVE는 또한 역분할 승인과 100%의 노트 및 보증 교환 제안 참여를 확보했습니다.

SANUWAVE Health (OTCQB: SNWV) a rapporté des revenus trimestriels record pour le deuxième trimestre de l'exercice 2024. Les points clés incluent :

- Revenus du Q2 2024 de 7,2 millions de dollars, en hausse de 53 % par rapport à l'année précédente
- Marge brute de 73 %, légèrement en baisse par rapport à 74 % au Q2 2023
- Revenu d'exploitation conforme aux normes GAAP de 2,0 millions de dollars
- Bénéfice net de 6,6 millions de dollars, par rapport à une perte nette de 7,3 millions de dollars au Q2 2023
- EBITDA ajusté de 1,5 million de dollars, en hausse par rapport à 171 000 dollars au Q2 2023
- 72 systèmes UltraMist® vendus, contre 49 au Q2 2023
- Les revenus des consommables UltraMist® ont augmenté de 67 % pour atteindre 4,7 millions de dollars

L'entreprise a fourni des prévisions pour le Q3 2024, s'attendant à une croissance des revenus de 65 à 75 % par rapport au Q3 2023. SANUWAVE a également obtenu l'approbation pour une division inversée des actions et une participation de 100 % à son offre d'échange de billets et de bons de souscription.

SANUWAVE Health (OTCQB: SNWV) berichtete von rekordverdächtigen Quartalsumsätzen für das 2. Quartal des Geschäftsjahres 2024. Wichtige Highlights sind:

- Umsätze im 2. Quartal 2024 von 7,2 Millionen US-Dollar, ein Anstieg um 53% im Jahresvergleich
- Bruttomarge von 73%, leicht zurückgegangen von 74% im 2. Quartal 2023
- GAAP-Betriebseinkommen von 2,0 Millionen US-Dollar
- Nettogewinn von 6,6 Millionen US-Dollar, im Vergleich zu einem Nettverlust von 7,3 Millionen US-Dollar im 2. Quartal 2023
- Bereinigtes EBITDA von 1,5 Millionen US-Dollar, ein Anstieg von 171.000 US-Dollar im 2. Quartal 2023
- Verkauf von 72 UltraMist®-Systemen, ein Anstieg von 49 im 2. Quartal 2023
- Die Umsätze mit UltraMist®-Verbrauchsmaterialien stiegen um 67% auf 4,7 Millionen US-Dollar

Das Unternehmen gab eine Prognose für das 3. Quartal 2024 ab und erwartet ein Umsatzwachstum von 65-75% im Vergleich zum 3. Quartal 2023. SANUWAVE sicherte sich zudem die Genehmigung für einen Reverse-Aktien-Split und eine 100%ige Teilnahme an seinem Anleihe- und Optionsaustauschangebot.

Positive
  • Record quarterly revenue of $7.2 million, up 53% year-over-year
  • GAAP Operating Income of $2.0 million, an improvement of $1.1 million from Q2 2023
  • Net income of $6.6 million, compared to a net loss of $7.3 million in Q2 2023
  • Adjusted EBITDA improved to $1.5 million from $171,000 in Q2 2023
  • UltraMist® consumables revenue increased by 67% to $4.7 million
  • 72 UltraMist® systems sold, up from 49 in Q2 2023
  • Guidance for Q3 2024 revenue growth of 65-75% compared to Q3 2023
Negative
  • Slight decrease in gross margin from 74% in Q2 2023 to 73% in Q2 2024

Q2 2024 revenues were $7.2 million, up 53% from Q2 2023. This was an all-time quarterly record for the Company.

Q2 2024 Gross Margin was 73%, vs 74% in Q2 2023

GAAP Operating Income was $2.0 Million

Company Provides Guidance for Revenue Growth of 65-75% for Q3 2024 Versus Q3 2023

EDEN PRAIRIE, MN, Aug. 13, 2024 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc. (the "Company" or "SANUWAVE”) (OTCQB: SNWV), a leading provider of next-generation FDA-approved wound care products, is pleased to provide its financial results for the three months ended June 30, 2024.

Q2 2024 ended June 30, 2024

  • Revenue for the three months ended June 30, 2024, totaled $7.2 million, an increase of 53%, as compared to $4.7 million for the same period of 2023.  This growth is within the previous guidance for a 45 – 55% increase.
  • 72 UltraMist® systems were sold in Q2 2024 up from 49 in Q2 2023 and from 43 in Q1 2024.
  • UltraMist® consumables revenue increased by 67% to $4.7 million (65% of revenues) in Q2 2024, versus $2.8 million for the same quarter last year. UltraMIST systems and consumables remained the primary revenue growth driver and continued to represent in excess of 95% of SANUWAVE’s overall revenues in Q2 2024.
  • Gross margin as a percentage of revenue amounted to 73% for the three months ended June 30, 2024, versus 74% for the same period last year, despite some additional costs from standing up new contract manufacturers.
  • For the three months ended June 30, 2024, operating income totaled $2.0 million, an improvement of $1.1 million compared to Q2 2023 as a result of the Company’s continued efforts to drive profitable growth and manage expenses.
  • Net income for the second quarter of 2024 was $6.6 million, driven predominantly by the change in the fair value of derivative liabilities and the extinguishment of debt.  This compares to a net loss of $7.3 million in the second quarter of 2023.  Net income year to date was $2.2 million versus a net loss of $20.4 million in the first half of 2023.
  • Adjusted EBITDA [1] for the three months ended June 30, 2024, was $1.5 million versus an Adjusted EBITDA of $171 thousand for the same period last year, an improvement of $1.3 million.  Year to date Adjusted EBITDA was $1.4 million versus a loss of $1.6 million in the first 6 months of the prior year.

“The second quarter mirrored the first with 53% revenue growth year-over-year, which led to an all-time record quarter despite the typical seasonal slowness of the first half of the year,” said Morgan Frank, CEO.  “We’re particularly pleased to have achieved both operating and Adjusted EBITDA positivity for the quarter in pursuit of our strategy of rapid, profitable growth.  As can be seen from our guidance, we expect our growth rate versus prior year periods to further accelerate in Q3 as we seek to continue to gain traction in our markets, ramp up to serve larger customers, and increase our patient counts.  We have continued to hire new salespeople and will continue this trend for the foreseeable future.  We continue to aim for 2024 to be the breakout year for SANUWAVE and feel good about our progress so far.”

Financial Outlook

The Company forecasts Q3 2024 revenue to rise 65-57% vs Q3 2023 ($8-8.5 million of revenues) and for gross margin as a percentage of revenue to remain in the mid 70s.

The Company has now achieved stockholder approval for its proposed reverse stock split and anticipates undertaking this process in the near future.

SANUWAVE has also secured 100% participation in its note and warrant exchange offer, which will be triggered by effecting the reverse stock split and result in the exchange of a significant amount of warrants and convertible promissory notes for shares of common stock, simplifying the Company’s capital structure.

As previously announced, a business update will occur via conference call on August 13, 2024 at 8:30 a.m. EST. Materials for the conference call are included on the Company’s website at

http://www.sanuwave.com/investors

Telephone access to the call will be available by dialing the following numbers:

Participant Listening: 1-800-579-2543 or 1-785-424-1789

OR click the link for instant telephone access to the event.

https://viavid.webcasts.com/starthere.jsp?ei=1684060&tp_key=35ff7216a3
A replay will be made available through September 3, 2024:
Toll-Free: 1-844-512-2921 or 1-412-317-6671
Replay Access ID: 11156749

[1] This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” and the reconciliations in this release for further information.

About SANUWAVE

SANUWAVE Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.

SANUWAVE's end-to-end wound care portfolio of regenerative medicine products and product candidates helps restore the body’s normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.

Non-GAAP Financial Measures

This press release includes certain financial measures that are not presented in our financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S.) (“U.S. GAAP”). These financial measures are considered "non-GAAP financial measures" and are intended to supplement, and should not be considered as superior to, or a replacement for, financial measures presented in accordance with U.S. GAAP.

The Company uses Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and Adjusted EBITDA to assess its operating performance. Adjusted EBITDA is Earnings before Interest, Taxes, Depreciation and Amortization adjusted for the change in fair value of derivatives and any significant non-cash or infrequent charges.  EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (loss) as a measure of financial performance or any other performance measure derived in accordance with GAAP, and they should not be construed as an inference that the Company’s future results will be unaffected by unusual or infrequent items. These non-GAAP financial measures are presented in a consistent manner for each period, unless otherwise disclosed. The Company uses these measures for the purpose of evaluating its historical and prospective financial performance, as well as its performance relative to competitors. These measures also help the Company to make operational and strategic decisions. The Company believes that providing this information to investors, in addition to GAAP measures, allows them to see the Company’s results through the eyes of management, and to better understand its historical and future financial performance. These non-GAAP financial measures are also frequently used by analysts, investors, and other interested parties to evaluate companies in our industry, when considered alongside other GAAP measures.

EBITDA and Adjusted EBITDA have their limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of these limitations are that EBITDA and Adjusted EBITDA:

  • Do not reflect every expenditure, future requirements for capital expenditures or contractual commitments.
  • Do not reflect all changes in our working capital needs.
  • Do not reflect interest expense, or the amount necessary to service our outstanding debt.

As presented in the GAAP to Non-GAAP Reconciliations section below, the Company’s non-GAAP financial measures exclude the impact of certain charges that contribute to our net income (loss).

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future financial results, production expectations and constraints, and plans for future business development activities. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with supply chain and production constraints, regulatory oversight, the Company’s ability to manage its capital resource issues, competition and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.

Contact: investors@sanuwave.com



        
        
SELECTED FINANCIAL DATA
FOR THE QUARTER ENDED JUNE 30, 2024 AND 2023
        
(in thousands)    2024   2023  
        
Revenue   $ 7,162  $ 4,675  
    Cost of Revenues    1,922   1,202  
        
Gross Margin    5,240   3,473  
    Gross Margin %    73.2%  74.3% 
        
     Total operating expenses    3,248   2,542  
Operating Income   $ 1,992  $ 931  
        
Total other expense    4,569   (8,193) 
        
Net Income (Loss)   $ 6,561  $ (7,262) 
        
NON-GAAP ADJUSTED EBITDA 
FOR THE QUARTER ENDED JUNE 30, 2024 AND 2023 
        
(in thousands)    2024   2023  
        
Net Income (Loss)   $6,561  $(7,262) 
Non-GAAP Adjustments:       
Interest expense    3,783   4,381  
Depreciation and amortization    262   257  
EBITDA    10,606   (2,624) 
Non-GAAP Adjustments for Adjusted EBITDA:       
Change in fair value of derivative liabilities    (3,717)  3,821  
Other non-cash or non-recurring charges:       
Gain on extinguishment of debt    (5,310)  -  
Release of historical accrued expenses    (579)  (1,250) 
Shares for services    -   224  
License and option agreement    -   -  
Prepaid legal fees expensed from termination of Merger Agreement   457   -  
Adjusted EBITDA   $ 1,457  $ 171  
        



PART I - FINANCIAL INFORMATION   
SANUWAVE HEALTH, INC. AND SUBSIDIARIES   
CONDENSED CONSOLIDATED BALANCE SHEETS   
      
(In thousands, except share data) June 30, 2024 December 31, 2023
ASSETS   
Current Assets:    
 Cash $2,460  $1,797 
 Accounts receivable, net of allowance of $1,237 and $1,237, respectively  3,154   3,314 
 Inventory  2,731   2,951 
 Prepaid expenses and other current assets  379   1,722 
Total Current Assets  8,724   9,784 
Non-Current Assets:    
 Property, equipment and right of use assets, net  947   938 
 Intangible assets, net  4,082   4,434 
 Goodwill  7,260   7,260 
Total Non-Current Assets  12,289   12,632 
      
Total Assets $21,013  $22,416 
      
LIABILITIES   
Current Liabilities:    
 Senior secured debt, in default $23,424  $18,278 
 Convertible promissory notes payable  3,953   5,404 
 Convertible promissory notes payable, related parties  2,454   1,705 
 Asset-backed secured promissory notes payable  -   3,117 
 Asset-backed secured promissory notes payable, related parties  -   1,458 
 Promissory note payable, related party  500   - 
 Accounts payable  3,891   5,705 
 Accrued expenses  4,794   5,999 
 Factoring liabilities  2,321   1,490 
 Warrant liability  16,864   14,447 
 Accrued interest  396   5,444 
 Accrued interest, related parties  841   669 
 Current portion of contract liabilities  130   92 
 Other  397   947 
Total Current Liabilities  59,965   64,755 
Non-Current Liabilities:    
 Lease liabilities  304   492 
 Contract liabilities  350   347 
Total Non-Current Liabilities  654   839 
      
Total Liabilities $60,619  $65,594 
      
STOCKHOLDERS' DEFICIT   
Preferred Stock, par value $0.001, 5,000,000 shares authorized; 6,175 shares Series A, 293 shares Series B, 90 shares Series C and 8 shares Series D authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023$-  $- 
Common stock, par value $0.001, 2,500,000,000 shares authorized; 1,181,272,961 and 1,140,559,527 issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,182   1,140 
Additional paid-in capital  177,218   175,842 
Accumulated deficit  (218,016)  (220,049)
Accumulated other comprehensive loss  10   (111)
Total Stockholders' Deficit  (39,606)  (43,178)
Total Liabilities and Stockholders' Deficit $21,013  $22,416 
      



SANUWAVE HEALTH, INC. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS 
         
  Three Months Ended June 30, Six Months Ended June 30, 
(In thousands, except share and per share data) 2024   2023   2024   2023  
          
Revenue$7,162  $4,675  $12,948  $8,450  
Cost of revenues 1,922   1,202   3,506   2,464  
          
Gross Margin 5,240   3,473   9,442   5,986  
          
Operating Expenses:        
 General and administrative 1,839   1,238   5,514   3,997  
 Selling and marketing 1,034   978   2,266   2,390  
 Research and development 195   139   358   270  
 Depreciation and amortization 180   187   362   376  
Total Operating Expenses 3,248   2,542   8,500   7,033  
          
Operating Income (Loss) 1,992   931   942   (1,047) 
          
Other Income (Expense)        
 Interest expense (3,396)  (3,706)  (6,633)  (7,218) 
 Interest expense, related party (387)  (675)  (710)  (1,441) 
 Loss on extinguishment of debt 5,310   -   5,205   -  
 Change in fair value of derivative liabilities 3,717   (3,821)  1,216   (10,618) 
 Other expense (685)  9   (787)  (18) 
 Other income 10   -   2,800   -  
Total Other Expense 4,569   (8,193)  1,091   (19,295) 
          
Net Income (Loss)$6,561  $(7,262) $2,033  $(20,342) 
          
Other Comprehensive Loss        
 Foreign currency translation adjustments 10   (9)  121   (13) 
Total Comprehensive Income (Loss)$6,571  $(7,271) $2,154  $(20,355) 
          



SANUWAVE HEALTH, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
(In thousands, except share data)           
Six Months Ended June 30, 2024
  Common Stock        
  Shares Issued and Outstanding Par Value Additional Paid-in Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total
Balances as of December 31, 2023 1,140,559,527 $1,140 $175,842 $(220,049) $(111) $(43,178)
 Shares issued for settlement of warrants 5,414,815  6  -  -   -   6 
 Shares issued for settlement of warrants 35,298,619  36  1,376.00  -   -   1,412 
 Foreign currency translation adjustment -  -  -  -   121   121 
 Net Income -  -  -  2,033   -   2,033 
             
Balances as of June 30, 2024 1,181,272,961 $1,182 $177,218 $(218,016) $10  $(39,606)
             
Six Months Ended June 30, 2023
  Common Stock        
  Shares Issued and Outstanding Par Value Additional Paid-in Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total
Balances as of December 31, 2022 548,737,651 $549 $152,750 $(194,242) $(67) $(41,010)
 Shares issued for services 12,900,000  13  514  -   -   527 
 Foreign currency translation adjustment -  -  -  -   (13)  (13)
 Net Income -  -  -  (20,342)  -   (20,342)
             
Balances as of June 30, 2023 561,637,651 $562 $153,264 $(214,584) $(80) $(60,838)
             
Three Months Ended June 30, 2024
  Common Stock        
  Shares Issued and Outstanding Par Value Additional Paid-in Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total
Balances as of March 31, 2024 1,140,559,527 $1,140 $175,842 $(224,577) $-  $(47,595)
 Shares issued for settlement of warrants 5,414,815  6  -  -   -   6 
 Shares issued for settlement of debt and warrants 35,298,619  36  1,376  -   -   1,412 
 Foreign currency translation adjustment -  -  -  -   10   10 
 Net Income -  -  -  6,561   -   6,561 
             
Balances as of June 30, 2024$1,181,272,961 $1,182.00 $177,218 $(218,016) $10.00  $(39,606)
             
Three Months Ended June 30, 2023
  Common Stock        
  Shares Issued and Outstanding Par Value Additional Paid-in Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total
Balances as of March 31, 2023 555,637,651 $556 $153,046 $(207,322) $(71) $(53,791)
 Shares issued for services 6,000,000  6  218  -   -   224 
 Foreign currency translation adjustment -  -  -  -   (9)  (9)
 Net Income -  -  -  (7,262)  -   (7,262)
             
Balances as of June 30, 2024 561,637,651 $562 $153,264 $(214,584) $(80) $(60,838)
             



SANUWAVE HEALTH, INC. AND SUBSIDIARIES   
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS   
    Six Months Ended June 30,
(In thousands)  2024  2023 
       
Cash Flows - Operating Activities:   
Net income (loss)  2,033  (20,342)
 Adjustments to reconcile net loss to net cash used by operating activities   
  Depreciation and amortization480  515 
  Bad debt expense99  313 
  Shares issued for services-  224 
  Gain on extinguishment of debt(5,205) - 
  Change in fair value of derivative liabilities(1,216) 10,618 
  Amortization of debt issuance and debt discounts3,274  3,955 
  Accrued interest1,859  3,606 
  Changes in operating assets and liabilities   
   Accounts receivable(340) 898 
   Inventory220  (31)
   Prepaid expenses and other assets118  (336)
   Accounts payable(1,259) 718 
   Accrued expenses328  (1,337)
   Contract liabilites41  (16)
Net Cash Provided by/ (Used in) Operating Activities432  (1,215)
       
Cash Flows - Investing Activities   
 Purchase of property and equipment(206) (169)
Net Cash Flows Used In Investing Activities(206) (169)
       
Cash Flows - Financing Activities   
 Proceeds from convertible promissory notes-  1,202 
 Payment of note payable(2,175) - 
 Proceeds from convertible notes payable1,300  - 
 Proceeds from promissory note payable, related party500  - 
 Proceeds from bridge notes advance-  1,476 
 Proceeds/(Payments) from factoring, net831  (1,167)
 Principal payments on finance leases(140) (85)
Net Cash Flows Provided by /(Used In) Financing Activities316  1,426 
       
Effect of Exchange Rates on Cash121  (13)
       
Net Change in Cash During Period663  29 
       
Cash at Beginning of Period1,797  1,153 
Cash at End of Period 2,460  1,182 
       
Supplemental Information:   
 Cash paid for interest2,055  908 
Non-Cash Investing and Financing Activities:   
 Shares issued for settlement of debt and warrants1,412  - 
 Write off deferred merger costs1,226  - 
 Warrants issued in conjunction with convertible promissory notes3,633  570 
 Capitalize default interest into Senior secured debt3,850  - 
 Conversion of asset-backed secured promissory notes to convertible promissory notes4,584  - 
 Embedded conversion feature on convertible promissory notes payable-  157 
 Common shares issued for advisory shares-  302 
       




FAQ

What was SANUWAVE's revenue for Q2 2024?

SANUWAVE's revenue for Q2 2024 was $7.2 million, representing a 53% increase compared to Q2 2023.

How many UltraMist® systems did SANUWAVE sell in Q2 2024?

SANUWAVE sold 72 UltraMist® systems in Q2 2024, up from 49 in Q2 2023 and 43 in Q1 2024.

What is SANUWAVE's revenue guidance for Q3 2024?

SANUWAVE expects revenue growth of 65-75% for Q3 2024 compared to Q3 2023, forecasting revenues between $8-8.5 million.

What was SANUWAVE's net income for Q2 2024?

SANUWAVE reported a net income of $6.6 million for Q2 2024, compared to a net loss of $7.3 million in Q2 2023.

What is SANUWAVE's stock symbol?

SANUWAVE Health's stock symbol is SNWV, and it trades on the OTCQB market.

SANUWAVE HEALTH INC

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20.67B
1.35M
Medical Devices
Healthcare
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United States of America
Eden Prairie