AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
SANUWAVE revenue declined 3% YoY to $9.7M in Q2 as system sales fell 34% despite 12% consumables growth, driving operating loss of $0.3M versus prior-year profit of $1.4M.
Biggest Revenue Drivers
Consumables, parts, and accessories revenue$7.3M+12% YoY
27% increase in unit volume reflecting strong consumable utilization across active installed base, partially offset by 11% decrease in average selling price due to higher reseller mix.
System revenue$2.3M-34% YoY
29% decline in unit volume due to weaker capital sales from industry financial pressures and increased availability of used UltraMIST® systems; 9% decrease in average selling price from higher reseller mix.
Biggest Revenue Drivers
Total revenue: $9.7M-3% YoY
Consumables, parts, and accessories revenue$7.3M+12% YoY
27% increase in unit volume reflecting strong consumable utilization across active installed base, partially offset by 11% decrease in average selling price due to higher reseller mix.
System revenue$2.3M-34% YoY
29% decline in unit volume due to weaker capital sales from industry financial pressures and increased availability of used UltraMIST® systems; 9% decrease in average selling price from higher reseller mix.
Extended warranty$78K
Amortization of contract liabilities associated with extended warranty performance obligations sold in prior periods.
Other revenue$48K
Largest Expense Items
Cost of revenues$2.3M+5% YoY
Increase driven by shift toward consumables sales mix, lower average selling prices, and increased personnel costs within cost of revenues.
General and administrative$4.9M+12% YoY
Higher personnel costs of $0.5M including stock-based compensation, higher legal and professional fees of $0.6M, and increased bad debt expense of $0.2M, partially offset by $0.9M reduction in sales tax accruals.
Selling and marketing$1.9M+15% YoY
Higher consulting costs of $0.2M and increased travel costs of $0.1M.
Research and development$628K+224% YoY
Higher personnel costs of $0.3M including increased stock-based compensation, and higher consulting costs of $0.1M.
Margins: Gross margin declined to 76% from 78% YoY, primarily due to revenue mix shift toward lower-margin consumables and away from systems, combined with lower average selling prices from higher reseller mix and increased personnel costs within cost of revenues.
Watch Items from the Filing
System sales revenue declined 34% YoY to $2.3M due to weaker capital equipment demand and increased used equipment competition; consumables dependency growing.
Material weaknesses in internal control over financial reporting remain unresolved as of June 30, 2026, including insufficient accounting resources and deficiencies in revenue recognition and IT controls.
Company concentrates most product component purchases from single suppliers; loss of any major vendor could disrupt production; Vendor A represents 17% of purchases, Vendor C 18%.
Accumulated deficit of $244.8M as of June 30, 2026; company achieved net income in 2025 but returned to net loss of $0.7M in Q2 2026 despite debt refinancing improving interest expense.
State and local sales tax liability of $4.5M remains accrued; company in voluntary disclosure agreements with multiple jurisdictions and expects to finalize remediation upon receipt of responses.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Wern David TimothyExec VP of SalesGrant or award · Jan 30, 2026
About SANUWAVE Health, Inc. (SNWV): stock profile, AI score and financials
SANUWAVE Health, Inc. (SNWV) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores SNWV at 62.3/100 on a composite quality score built from its SEC filings, placing it at rank #724 of 2,925 stocks — the top 25% of the AI-ranked universe. SNWV scores in the top quartile across balance sheet strength (99.0), profitability (92.7), revenue growth (89.2). Areas of concern include institutional flow (3.0) and revenue scale (8.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 14.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), SANUWAVE Health, Inc. reports quarterly revenue of $9.7M, net income of $-682.0K, an operating margin of -2.9%. Top institutional holders of SNWV by reported 13-F value include Solas Capital Management, AWM Investment Company, Praetorian PR, based on the most recent SEC filings. SNWV trades on the Nasdaq exchange and files with the SEC under CIK 1417663. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SNWV daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SANUWAVE Health, Inc. directly from SEC EDGAR.