SANUWAVE Health Inc(US:SNWV)2024-05-10 13:30Financial Data and Key Metrics Changes - Revenue for Q1 2024 totaled $5.8 million, an increase of 53% compared to $3.8 million in Q1 2023 [10] - Gross margin improved to 73% for Q1 2024, up from 67% in the same period last year [11] - Operating loss for Q1 2024 was $1.1 million, an improvement of $928,000 compared to the same period last year [11] - Net loss decreased to $4.5 million in Q1 2024 from $13.1 million in Q1 2023 [11] - Adjusted EBITDA loss was $59,000 for Q1 2024, a significant improvement from a $1.8 million loss in Q1 2023 [12] Business Line Data and Key Metrics Changes - Revenue from the Ultramist line increased by 81% year-on-year [6] - Revenue from consumable applicators increased by 64% year-on-year and 14% sequentially from Q4 2023 [6] - Active systems in the field reached 709, with Ultramist systems sold up by 54 units compared to Q1 2023 [5][6] Market Data and Key Metrics Changes - The company noted a seasonal slowdown in system sales during Q1, which is typical in the medical device industry [7] - The company aims to reduce applicator revenues as a percentage of total revenues to a range of 55% to 65% as system sales increase [6][7] Company Strategy and Development Direction - The company is focused on expanding its geographic footprint and engaging larger customers [7] - There is a strategic emphasis on deeper customer engagement, particularly in nursing homes and acute care settings [8] - The company is optimistic about 2024 being a breakout year, with plans to execute on growth strategies [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 45% to 55% year-on-year growth in Q2 and reiterated a 50% growth guidance for fiscal year 2024 [16] - The company is addressing delays in the SEPA merger, with a path to closing expected before May 31 [14][15] Other Important Information - The company has hired additional sales and operational staff to support growth initiatives [7] - The management highlighted the importance of price discipline and manufacturing improvements to enhance gross margins [5] Q&A Session Summary - There were no questions from participants during the Q&A session, indicating that the management may have addressed all concerns thoroughly [19]