1.85
-15.53%
Close of 9 Nov 2026, in USD
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About SANUWAVE Health
From its filings with the US Securities and Exchange Commission
SANUWAVE Health is based in Eden Prairie, Minnesota and is incorporated in Nevada. Its shares trade on Nasdaq under the ticker SNWV. The SEC classifies its business as surgical & medical instruments & apparatus. In the fiscal year to 31 December 2025, it reported revenue of $44.1m and net income of $11.8m. At that date it held total assets of $37.3m and shareholders' equity of $1.6m. By business, Consumables, parts, and accessories revenue brought in 58.6% of revenue, followed by System revenue at 40.5% and Other at 0.5%.
Sanuwave is a medical device company providing directed energy products into the wound care space. Our mission is to improve patient lives and outcomes by developing and marketing effective, easy to use products to decrease wound burden, lessen healing times, and reduce patient pain.
Our focus is regenerative medicine utilizing noninvasive ultrasound to produce a biological response promoting the repair and regeneration of tissue, musculoskeletal, and vascular structures. The Company’s patented and FDA cleared product is the UltraMIST® system, which is used to treat a variety of acute and chronic wounds. The Company is backed by an intellectual property (“IP”) portfolio of over 60 patents.
In the year ended December 31, 2025, we had total revenues of $44.1 million, a 35% increase from revenues of $32.6 million in the year ended December 31, 2024. UltraMIST systems and consumables represented approximately 99% of 2025 revenues versus 98% of revenues in 2024.
The Company develops and markets directed energy products that utilize ultrasound technology. UltraMIST is the only commercial product currently marketed by the Company.
Quoted from its 10-K, filed 26 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Health Care Equipment & Supplies
- Listed since
- 7 Nov 2008
- Employees
- 55
- Website
- sanuwave.com ↗
- Head office
- 9600 W. 76TH STREET, EDEN PRAIRIE, MN
- Incorporated in
- NV
- Classification
- Surgical & Medical Instruments & Apparatus
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Morgan FrankChairman of the Board, Chief Executive Officer, since 2022$1.4m
- Mr. Peter SorensenChief Financial Officer
- Mr. Daniel CoyleChief Operating Officer
- Mr. Timothy WernExecutive Vice President - Sales, U.S. Wound Business
- Dr. Iulian CioantaChief Science and Technology Officer$378,110
- Mr. Peter StegagnoChief Regulatory Officer$247,833
- Mr. Ian MillerLead Independent Director$372,000
- Mr. Gregory BazarIndependent Director
- Mr. Jeffrey BlizardIndependent Director$372,000
- Mr. James TylerIndependent Director$372,000
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- SANUWAVE Health's dermaPACE device treats diabetic foot ulcers effectively in the US market.
- The company's PACE technology activates biological healing processes for skin and musculoskeletal tissue repair.
- SANUWAVE Health focuses on regenerative medicine with noninvasive shockwave technology.
Weaknesses
- The company employs only 23 full-time employees, limiting operational capacity.
- SANUWAVE Health has a single lead product, dermaPACE, for diabetic foot ulcers in the US.
- The firm's IPO in 2008 indicates limited recent market expansion efforts.
Opportunities
- Expanding PACE technology to new vascularization applications beyond diabetic foot ulcers.
- Growing demand for regenerative medicine solutions in the US healthcare sector.
- Potential partnerships with US healthcare providers for dermaPACE adoption.
Threats
- Competition from other shockwave technology companies in the US Health Care sector.
- Regulatory challenges in expanding dermaPACE to new medical indications.
- Dependence on the US market for revenue generation and growth.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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