-
Revenue: $10.3 million for Q4 2024, a 47% increase from $7 million in Q4 2023.
-
Systems Sold: 135 systems in Q4 2024, a 71% increase from 79 systems in Q4 2023.
-
Applicator Sales: $5.9 million in Q4 2024, up 68% from Q4 2023.
-
Gross Margin: 77.9% for Q4 2024, up from 69.1% in Q4 2023.
-
Operating Income: $2.5 million for Q4 2024, an improvement of $1.5 million year-over-year.
-
Operating Expenses: $5.5 million for Q4 2024, up from $3.8 million in Q4 2023.
-
Net Loss: $12.7 million for Q4 2024, compared to net income of $18.2 million in Q4 2023.
-
Adjusted EBITDA: Positive $3.7 million for Q4 2024, up from $0.7 million in Q4 2023.
-
Total Current Assets: $18.4 million as of December 31, 2024, up from $9.8 million as of December 31, 2023.
-
Cash: $10.2 million as of December 31, 2024.
Release Date: March 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
SANUWAVE Health Inc (NASDAQ:SNWV) achieved a record revenue milestone of $10.3 million in Q4 2024, marking a 47% increase compared to the same period in 2023.
-
The company experienced a 71% year-over-year growth in systems sold, with 135 systems sold in Q4 2024.
-
Gross margins improved significantly to 77.9% in Q4 2024, up from 69.1% in the previous year, indicating strong operational efficiency.
-
SANUWAVE Health Inc (NASDAQ:SNWV) successfully uplisted to Nasdaq, simplifying its capital structure and strengthening its balance sheet.
-
The company reported positive adjusted EBITDA of $3.7 million for Q4 2024, a substantial improvement from $0.7 million in the same period last year.
Negative Points
-
Operating expenses increased to $5.5 million in Q4 2024, up from $3.8 million in the same period last year, largely due to non-cash stock compensation expenses.
-
The company reported a net loss of $12.7 million for Q4 2024, compared to a net income of $18.2 million in Q4 2023, primarily due to changes in the fair value of derivative liabilities.
-
EBITDA for Q4 2024 was negative $9.7 million, indicating challenges in achieving profitability despite positive adjusted EBITDA.
-
The company faces seasonality challenges, with Q1 typically being a slower period for medical device sales, impacting revenue predictability.
-
SANUWAVE Health Inc (NASDAQ:SNWV) is still navigating the complexities of engaging with larger customers, which may lead to variability in order sizes and potential revenue lumpiness.
Q & A Highlights
Q: I noticed you guys hired a new Head of Sales back in January. Can you walk us through what's changing versus last year and how it's going so far? A: Sure, good question. We started 2024 with two salespeople and ended the year with nine. We will likely end Q3 with about nine, but three of them will be different from the nine we ended Q4 with. The change in strategy reflects our shift to a deeper, more consultative sale, focusing on building long-term partnerships. We hired Tim Warren, who was highly recommended and has a strong track record in sales growth.