SANUWAVE Health Inc(US:SNWV)2025-05-26 19:21Financial Performance - The company's revenue increased to $3.8 million in Q1 2023, an 18% increase year-over-year compared to $3.2 million in Q1 2022 [10] - Gross profit increased to $2.5 million in Q1 2023, a 9% increase year-over-year compared to $2.3 million in Q1 2022 [10] - Gross margin was 67% in Q1 2023, a decrease of 500 basis points compared to 72% in Q1 2022 [10] - Operating costs increased to $4.5 million in Q1 2023, a 5% increase year-over-year compared to $4.3 million in Q1 2022 [10] - The company experienced an operating loss of $2.0 million in both Q1 2022 and Q1 2023 [10] Unit Growth - The company sold 217 systems in 2022 [14] - The company sold 180,300 treatments in 2022 [14] - The company sold 28 systems as of March 31, 2023 [14] - The company sold 43,692 treatments as of March 31, 2023 [14] Future Outlook - The company estimates a 15-25% increase in Q2 2023 compared to Q2 2022 [16] - The company estimates that 1% market share in the US wound market would equal $450 million [18]