SANUWAVE Health (SNWV) Financial Statements & Analysis

SANUWAVE Health (SNWV) Income Statement

SANUWAVE Health reported revenue of $44.05M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 35.0% from $32.63M a year earlier. Net income was $11.81M, a net margin of 26.8%. Gross margin was 77.1% and operating margin 11.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $9.74M, down 3.1% from the same quarter a year earlier.

SANUWAVE Health Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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SANUWAVE Health, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2022	Dec 2021	Dec 2020	Mar 2020	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	44.05	32.63	20.40	16.74	16.74	13.01	4.06	1.03	1.85	0.74
Cost of Revenue	10.08	8.08	6.04	4.33	4.33	4.99	1.16	0.54	0.69	0.24
Gross Profit	33.97	24.55	14.36	12.41	12.41	8.02	2.90	0.49	1.16	0.50
Operating Expenses
Research & Development	1.35	0.67	0.58	0.57	0.57	1.10	1.25	1.18	1.66	1.29
Selling, General & Administrative	26.79	19.24	13.57	20.03	20.03	20.28	18.88	8.03	7.33	3.00
Operating Expenses	29.02	20.70	14.90	21.36	21.36	22.17	28.10	9.28	8.34	4.32
Operating Income	4.95	3.85	-0.54	-8.95	-8.95	-14.14	-25.20	-8.79	-7.18	-3.82
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00
Interest Expense	6.25	13.78	15.62	14.13	-14.13	7.10	2.54	1.84	4.50	1.14
Other Income/Expense	6.95	-23.13	-9.64	-1.34	-1.34	-2.42	-5.74	-1.64	-4.45	-1.71
Income
Income Before Tax	11.90	-33.06	-25.80	-10.29	-10.29	-27.23	-30.94	-10.43	-11.63	-5.54
Income Tax Expense	0.09	0.03	0.00	0.00	0.00	0.03	0.00	0.00	0.05	0.00
Net Income	11.81	-33.08	-25.81	-10.29	-10.29	-27.26	-30.94	-10.43	-11.63	-5.54
Net Income - Continuous Operations	11.81	-33.08	-25.81	-10.29	-10.29	-27.26	-30.94	-10.43	-11.63	-5.54
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	19.43	-18.13	-9.15	4.79	-8.00	-18.90	-27.38	-8.52	-7.11	-4.37
EBIT	6.51	-19.28	-10.18	-	-8.95	-20.14	-16.92	-	-	-
Depreciation & Amortization	1.28	0.79	0.75	0.95	0.95	0.78	1.01	0.07	0.02	0.02
Earnings Per Share
Basic EPS	1.00	-7.00	-12.00	-7.00	-7.00	-19.00	-31.00	-19.00	-29.00	-15.00
Diluted EPS	-	-7.00	-12.00	-7.00	-7.00	-19.00	-31.00	-19.00	-29.00	-15.00
Basic Shares Outstanding	8.56	4.46	2.12	1.47	1.47	1.38	1.01	0.54	0.40	0.37
Diluted Shares Outstanding	9.08	4.46	2.12	1.47	1.47	1.38	1.01	0.54	0.40	0.37

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About SANUWAVE Health Financial Statements

What was SANUWAVE Health's revenue in fiscal 2025?

SANUWAVE Health reported revenue of $44.05M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 35.0% from $32.63M a year earlier.

Is SANUWAVE Health profitable?

Yes. SANUWAVE Health earned net income of $11.81M in fiscal 2025, a net margin of 26.8%. In fiscal 2024 it lost $33.08M.

What is SANUWAVE Health's operating margin?

SANUWAVE Health's operating income was $4.95M on revenue of $44.05M in fiscal 2025, an operating margin of 11.2%, compared with 11.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition