Financial Performance - Revenue for Q4 2024 reached $10.3 million, a 47% increase compared to $7.0 million in Q4 2023 [15] - Gross profit for Q4 2024 was $8.0 million, a 67% increase compared to $4.8 million in Q4 2023 [15] - Gross margin improved to 77.9% in Q4 2024, up 873 basis points from 69.1% in Q4 2023 [15] - Operating income for Q4 2024 was $2.5 million, a 150% increase compared to $1.0 million in Q4 2023 [15] - Adjusted EBITDA for Q4 2024 was $3.655 million, compared to $0.664 million in Q4 2023 [16] UltraMIST System - UltraMIST system saw continuous revenue growth with strong year-over-year growth throughout 2024 [18] - The company had 1,047 UltraMIST systems in the field at the end of Q4 2024 [20] - 135 UltraMIST systems were sold in Q4 2024, compared to 79 in Q4 2023 and 124 in Q3 2024 [20] Revenue Guidance - The company projects Q1 2025 revenue growth of 45-55% compared to Q1 2024 revenue of $5.79 million [23] - The company forecasts FY 2025 revenue of $48-50 million, representing a 47-53% increase compared to FY 2024 revenue of $32.6 million [23]

Toll Free: 1-800-245-3047 Toll/International: 1-203-518-9765 Conference ID: SANUWAVE Q1 FY2025 May 9, 2025 Live Presentation Friday, May 9, 2025, 8:30 AM (ET) Participant Dial-in Information OR click the link for instant telephone access to the event. https://viavid.webcasts.com/starthere.jsp?ei=1714486&tp_key=88406b4795 Replay Dial-in Information Toll Free: 1-844-512-2921 Toll/International: 1-412-317-6671 Replay Pin Number: 11158734 Replay Expiry: May 30, 2025 2 Forward Looking Statements and Non-GAAP Fin ...

Financial Data and Key Metrics Changes - Q1 2025 revenue totaled $9,300,000, representing a 61% increase compared to $5,800,000 in Q1 2024, exceeding previous guidance of 45% to 55% growth [14][17] - Gross margin improved to 79% in Q1 2025 from 72.6% in Q1 2024, an increase of over 640 basis points attributed to reduced production costs and strategic pricing [15] - Operating income for Q1 2025 was $1,000,000, an improvement of $2,000,000 year-over-year [15] - Net loss for Q1 2025 was $5,700,000, compared to a net loss of $4,500,000 in Q1 2024, primarily due to higher non-cash expenses [16] - Adjusted EBITDA for Q1 2025 was positive $2,300,000, an improvement of $2,400,000 year-over-year [16] Business Line Data and Key Metrics Changes - The company placed 98 new Ultomis systems in Q1 2025, a 128% increase from 43 systems in Q1 2024 [7] - Applicator sales were $5,800,000 in Q1 2025, up from $4,100,000 in Q1 2024, constituting 62% of total revenues [8][9] - The company ended the quarter with 1,145 systems in the field, with 429 placed in the trailing twelve months [7] Market Data and Key Metrics Changes - The company is experiencing a seasonal pattern where patients delay treatment in Q1 due to out-of-pocket maximum resets, leading to reduced usage until Q2 [9] - The company is focusing on engaging larger customers and has been building inventory to support this strategy [10][11] Company Strategy and Development Direction - The company aims to continue its growth strategy with a guidance of $10,000,000 to $10,700,000 in Q2 revenues, reflecting 40% to 50% year-on-year growth [18] - The sales strategy focuses on engaging larger customers and expanding into mobile and home healthcare markets [44][46] - The company is exploring refinancing opportunities to improve its debt situation [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the supply chain and manufacturing capabilities, stating no anticipated material cost or margin issues from current economic conditions [11] - The company is optimistic about building on the momentum from Q1 and executing its growth strategy [17] Other Important Information - The company incurred a $295,000 listing fee for its NASDAQ uplift, impacting operating profit and EBITDA figures [12] - The company has been stockpiling longer lead-time components to enable rapid production ramp-up if needed [10] Q&A Session Summary Question: Can you quantify system placements from smaller and larger customers? - Management noted the complexity in categorizing customers, stating 58 new customers were added in Q1, with growth potential varying among them [24] Question: What is the typical time to sale from initiation to purchase order? - Management indicated a wide range, from a couple of days for smaller orders to several months for larger customers [28] Question: Can you address the debt landscape? - Management acknowledged the high cost of debt and mentioned exploring refinancing opportunities [33] Question: What is the success rate within the total addressable market? - Management stated they do not have clear visibility into specific treatments due to HIPAA regulations but are in contact with providers to understand applications [36] Question: Any updates on patent assertion suits? - Management confirmed an intellectual property assertion agreement with an outside firm, expressing satisfaction with progress but noting the private nature of the process [39] Question: Insight into the evolving sales strategy? - Management highlighted a focus on engaging larger customers and the importance of experienced sales executives in the strategy [44]

Financial Data and Key Metrics Changes - Q1 2025 revenue totaled $9,300,000, representing a 61% increase compared to $5,800,000 in Q1 2024, exceeding previous guidance of 45% to 55% growth [13][16] - Gross margin increased to 79% in Q1 2025 from 72.6% in Q1 2024, attributed to reduced production costs and strategic pricing [14] - Operating income improved to $1,000,000, up $2,000,000 year-over-year, while net loss increased to $5,700,000 from $4,500,000 in the same period last year [15][16] - Adjusted EBITDA was positive at $2,300,000, an improvement of $2,400,000 year-over-year [15] Business Line Data and Key Metrics Changes - Sales of applicators reached $5,800,000 in Q1 2025, up from $4,100,000 in Q1 2024, constituting 62% of total revenues [7][8] - The company placed 98 new Ultomis systems in Q1 2025, a 128% increase from 43 systems in Q1 2024 [6] Market Data and Key Metrics Changes - The company ended Q1 2025 with 1,145 systems in the field, with 429 placed in the trailing twelve months [6] - The company is focusing on engaging larger customers and expanding into mobile and home healthcare markets, indicating a strategy to increase market penetration [42] Company Strategy and Development Direction - The company aims to build on its strong Q1 performance and is guiding for Q2 revenues of $10,000,000 to $10,700,000, reflecting 40% to 50% year-over-year growth [17] - The strategy includes engaging with larger customers and enhancing the sales team with experienced executives to improve market penetration [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in supply chains and manufacturing capabilities, stating no anticipated material cost or margin issues due to current economic conditions [11] - The company is exploring refinancing opportunities to improve debt conditions, indicating a proactive approach to financial management [32] Other Important Information - The company incurred a $295,000 listing fee for its NASDAQ uplift, impacting operating profit and EBITDA figures [12] - Inventory levels are described as comfortable, allowing for rapid production ramp-up if needed [10] Q&A Session Summary Question: Can you quantify system placements from smaller and larger customers? - The company noted the complexity in categorizing customers, indicating 58 new customers in Q1, with growth potential varying significantly [21][24] Question: What is the typical time to sale from initiation to purchase order? - The time frame varies widely, from a couple of days for smaller orders to several months for larger customers [25][26] Question: Can you address the debt landscape? - The company is actively exploring refinancing opportunities to improve interest rates, acknowledging that current debt is not favorable [29][32] Question: What is the success rate within the total addressable market? - The company lacks specific visibility into treatment types due to HIPAA regulations but is aware of general trends through provider feedback [34][35] Question: Any updates on patent assertion suits? - The company is engaged with an outside assertion firm and is optimistic about progress, though specifics are limited due to the nature of the agreements [36][37] Question: Insights into the evolving sales strategy? - The company continues to pursue its existing sales strategy while focusing on larger customers and enhancing the sales team with experienced professionals [40][41]

Financial Results - Sanuwave Health, Inc. announced preliminary financial results for Q1 2025 on April 8, 2025[4] - The press release detailing financial results is attached as Exhibit 99.1[6] - The report indicates that the information provided is not deemed "filed" under the Securities Exchange Act of 1934[5] Company Information - The company is registered under the trading symbol SNWV on The Nasdaq Stock Market LLC[2] - The Chief Financial Officer, Peter Sorensen, signed the report on behalf of the company[10]

Financial Performance - Q1 2025 revenues reached $9.3 million, marking a 61% increase from $5.8 million in Q1 2024, representing the highest quarterly revenues in the company's history [1][5] - Gross margin for Q1 2025 was 79.0%, up from 72.6% in Q1 2024 [1][5] - GAAP Operating Income for Q1 2025 was $1.0 million, an increase of $2.0 million compared to Q1 2024 [1][5] - The company reported a net loss of $5.7 million in Q1 2025, compared to a net loss of $4.5 million in Q1 2024 [5][21] Sales and Market Activity - The company sold 98 UltraMist® systems in Q1 2025, which is 128% more than the 43 systems sold in the same quarter last year [3][5] - UltraMist® consumables revenue increased by 43% to $5.8 million in Q1 2025, accounting for 99% of the company's overall revenues [5][21] Future Guidance - The company provides guidance for Q2 2025 revenue growth of 40-50% compared to Q2 2024, estimating revenues between $10.0 million and $10.7 million [4][5] - Full year 2025 revenue guidance is reiterated at $48-50 million, indicating a 47-53% increase compared to full year 2024 revenue [4][5] Operational Strategy - The company is focused on expanding its commercial operations and clinical teams to support ongoing growth while enhancing profitability [3] - The company has achieved comfortable inventory levels for both systems and applicators, allowing for aggressive engagement with larger customers [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Table of Contents o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to Commission File Number 000-52985 SANUWAVE Health, Inc. (Exact name of registrant as specified in its charter) Nevada 20-1176000 (St ...

Group 1 - Sanuwave Health, Inc. will host a live conference call on May 9, 2025, at 8:30 AM (ET) to present its Q1 2025 financial results [1][2] - The company specializes in next-generation FDA-approved wound care products and is focused on the research, development, and commercialization of non-invasive medical systems [2][3] - Sanuwave's product portfolio includes regenerative medicine products aimed at restoring normal healing processes in various medical conditions [3] Group 2 - The conference call will provide access via toll-free and international numbers, with a replay available until May 30, 2025 [1][2] - Materials related to the conference call will be accessible on the company's investor website [2] - Sanuwave applies patented energy transfer technologies in multiple fields, including wound healing and orthopedic conditions [3]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 totaled $10,300,000, an increase of 47% compared to $7,000,000 for the same period in 2023 [11][12] - Gross margin reached 77.9% for Q4 2024, up from 69.1% in Q4 2023 [12] - Operating income for Q4 2024 was $2,500,000, an improvement of $1,500,000 year over year [12] - Net loss for Q4 2024 was $12,700,000, compared to net income of $18,200,000 in Q4 2023, primarily due to a change in the fair value of derivative liabilities [13] Business Line Data and Key Metrics Changes - Sold 135 ULTREMIST systems in Q4 2024, a 71% increase year over year [7] - Applicator sales in Q4 were $5,900,000, up 68% from Q4 2023 and 11% sequentially from Q3 2024 [8] Market Data and Key Metrics Changes - The company ended 2024 with 1,047 systems in the field, up from 647 at the end of 2023 [7] - Total current assets amounted to $18,400,000 as of 12/31/2024, compared to $9,800,000 as of 12/31/2023 [16] Company Strategy and Development Direction - The company is focusing on engaging larger and more sophisticated customers capable of purchasing large volumes of products [6] - A new Head of Sales was hired to reflect a shift towards a more consultative sales approach, aiming to build long-term partnerships with customers [21][22] Management's Comments on Operating Environment and Future Outlook - Management expects Q1 2025 revenue guidance of $8,400,000 to $9,000,000, representing 45% to 55% growth from Q1 2024 [17] - For the full year 2025, the company is guiding revenue of $48,000,000 to $50,000,000, indicating a 50% year-on-year growth rate [18] Other Important Information - The company successfully uplisted to NASDAQ on March 7, 2025, marking a significant milestone [10] - The company has implemented a stock option compensation plan for employees and Board of Directors for the first time in over six years [15] Q&A Session Summary Question: Changes with the new Head of Sales - The company expanded its sales team from two to nine and is adopting a deeper, consultative sales approach to build long-term partnerships [21][22] Question: Characterization of ULTREMIST placements - The placements included a mix of small orders and significant orders, with one customer ordering nearly 20 systems [29] Question: Managing larger customer orders to avoid lumpiness - The company aims to maintain a steady pace of smaller sales while being prepared for larger orders, focusing on getting systems in the field [30][32] Question: Advancing confirmatory studies for ULTREMIST - The company is looking to initiate additional studies to explore new use cases for ULTREMIST, with plans for prospective studies to validate promising past results [38][42]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 totaled $10,300,000, an increase of 47% compared to $7,000,000 for the same period in 2023 [10][11] - Gross margin reached 77.9% for Q4 2024, up from 69.1% in Q4 2023 [11] - Operating income for Q4 2024 was $2,500,000, an improvement of $1,500,000 year-over-year [11] - Net loss for Q4 2024 was $12,700,000, compared to net income of $18,200,000 in Q4 2023, primarily due to changes in the fair value of derivative liabilities [12] - Adjusted EBITDA for Q4 2024 was positive $3,700,000, an improvement of $3,000,000 year-over-year [12][14] Business Line Data and Key Metrics Changes - Sold 135 ULTREMIST systems in Q4 2024, representing a 71% growth year-over-year [6] - Applicator sales in Q4 were $5,900,000, up 68% from Q4 2023 and 11% sequentially from Q3 2024 [7] Market Data and Key Metrics Changes - The company ended 2024 with 1,047 systems in the field, up from 647 at the end of 2023 [6] - Current assets amounted to $18,400,000 as of 12/31/2024, compared to $9,800,000 as of 12/31/2023 [15] Company Strategy and Development Direction - The company is focusing on engaging larger and more sophisticated customers capable of purchasing large volumes of products [5] - A new sales strategy has been implemented, moving towards a consultative sales approach to build long-term partnerships [22] - The company aims to double its manufacturing pace of ULTREMIST systems to meet demand [30] Management's Comments on Operating Environment and Future Outlook - Management expects Q1 2025 revenue to be between $8,400,000 and $9,000,000, representing 45% to 55% growth from Q1 2024 [17] - For the full year 2025, the company is guiding revenues of $48,000,000 to $50,000,000, indicating a 50% year-on-year growth rate [18] Other Important Information - The company uplisted to NASDAQ on March 7, 2025, marking a significant milestone [9] - The company has initiated a stock option compensation plan for employees and board members for the first time in over six years [14] Q&A Session Summary Question: Changes in Sales Strategy - The company has expanded its sales team from two to nine and is focusing on a consultative sales approach to build long-term partnerships [21][22] Question: Customer Composition and Sales Outlook - The company sold a mix of one and two system orders, with some larger customers ordering multiple systems, indicating a diverse customer base [28][29] Question: Advancing Confirmatory Studies - The company is looking to advance additional confirmatory studies and explore new applications for ULTREMIST, with plans for prospective studies in the future [36][40]