What is SANUWAVE Health, Inc.'s earnings per share (EPS)?

SANUWAVE Health, Inc. (SNWV) reported diluted earnings per share of $0.41 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

SANUWAVE Health, Inc. (SNWV) Financials

SNWV

Trailing 12 months to June 30, 2026

Revenue $44.0M +12.7% YoY

Net Income $15.3M +138.1% YoY

EPS (Diluted) $0.34 +104.0% YoY

Free Cash Flow $4.2M +4103.8% YoY

Market Cap $48.3M as of Oct 10, 2026

Price / Sales 1.1x on $44.0M revenue, trailing 12 months to June 30, 2026

Price / Earnings 3.2x on $15.3M net income, trailing 12 months to June 30, 2026

Price / Book 17.3x on $2.8M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SNWV SEC filings page.

SANUWAVE Health, Inc. (SNWV) reported $44.0M in revenue over the twelve months to Jun 30, 2026, up 12.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SNWV FY2025 2026-10-03

SANUWAVE’s business became profitable and recapitalized its balance sheet, but cash generation still trails the reported earnings improvement.

In FY2025, net profit was $11.8M versus operating cash flow of $3.9M, showing that accounting earnings were not yet converting fully into cash. Free cash flow stayed near $2.0M across FY2024-FY2025, so the earnings swing did not yet produce materially greater cash after investment.

Equity turned positive at $1.6M in FY2025 after being negative in FY2024. Short-term coverage also improved to a current ratio of 1.4, but debt-to-equity remained elevated at 10.0x because the equity cushion is still small.

Gross margin expanded from 75.2% to 77.1%. Operating margin narrowed from 11.8% to 11.2%, indicating that higher gross profit was partly absorbed before reaching operating income.

Financial Health Signals

Financial Health Score 69/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of SANUWAVE Health, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

SANUWAVE Health, Inc. held $12.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $3.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and SANUWAVE Health, Inc. scores 86/100 among other emerging companies.

Dilution

SANUWAVE Health, Inc. had 9M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and SANUWAVE Health, Inc. scores 99/100 among other emerging companies.

R&D Intensity

SANUWAVE Health, Inc. spent $1.4M on research and development in fiscal year 2025, which was 3.5% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and SANUWAVE Health, Inc. scores 19/100 among other emerging companies.

Revenue Progress

SANUWAVE Health, Inc. reported revenue of $44.1M in fiscal year 2025, against $32.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and SANUWAVE Health, Inc. scores 78/100 among other emerging companies.

Burn Trend

SANUWAVE Health, Inc.'s operations generated $3.9M of cash in fiscal year 2025, against $2.5M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and SANUWAVE Health, Inc. scores 94/100 among other emerging companies.

Balance Sheet

SANUWAVE Health, Inc.'s cash, cash equivalents and investments came to $12.0M at the end of fiscal year 2025, against $35.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and SANUWAVE Health, Inc. scores 35/100 among other emerging companies.

Altman Z-Score Distress

-6.45

SANUWAVE Health, Inc. scores -6.45, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($48.3M) relative to total liabilities ($35.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

SANUWAVE Health, Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.33x

For every $1 of reported earnings, SANUWAVE Health, Inc. generates $0.33 in operating cash flow ($3.9M OCF vs $11.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$9.7M

YoY-3.1%

QoQ+1.2%

5Y CAGR+27.3%

10Y CAGR+47.2%

SANUWAVE Health, Inc. generated $9.7M in revenue in Q2 2026. This represents a decrease of 3.1% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.

EBITDA

-$29K

YoY-101.8%

QoQ+96.5%

SANUWAVE Health, Inc.'s EBITDA was -$29K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 101.8% from the same quarter a year earlier. Against the prior quarter it is up 96.5%.

Net Income

-$682K

YoY-223.8%

QoQ+52.6%

SANUWAVE Health, Inc. reported -$682K in net income in Q2 2026. This represents a decrease of 223.8% from the same quarter a year earlier. Against the prior quarter it is up 52.6%.

EPS (Diluted)

-$0.08

YoY-100.0%

QoQ+52.9%

SANUWAVE Health, Inc. earned -$0.08 per diluted share (EPS) in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is up 52.9%.

Cash & Balance Sheet

Free Cash Flow

$91K

YoY+154.8%

QoQ-75.7%

SANUWAVE Health, Inc. generated $91K in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 154.8% from the same quarter a year earlier. Against the prior quarter it is down 75.7%.

Cash & Debt

$9.4M

YoY+10.4%

QoQ-13.0%

5Y CAGR+104.2%

10Y CAGR+54.3%

SANUWAVE Health, Inc. held $9.4M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

YoY+0.4%

QoQ0.0%

5Y CAGR-55.3%

SANUWAVE Health, Inc. had 9M shares outstanding in Q2 2026. This represents an increase of 0.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

76.2%

YoY-1.8pp

QoQ-1.0pp

5Y change+12.3pp

10Y change+14.6pp

SANUWAVE Health, Inc.'s gross margin was 76.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.

Operating Margin

-2.9%

YoY-17.2pp

QoQ+8.8pp

SANUWAVE Health, Inc.'s operating margin was -2.9% in Q2 2026, reflecting core business profitability. This is down 17.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.8 percentage points.

Net Margin

-7.0%

YoY-12.5pp

QoQ+8.0pp

SANUWAVE Health, Inc.'s net profit margin was -7.0% in Q2 2026, showing the share of revenue converted to profit. This is down 12.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.0 percentage points.

Return on Equity

-24.5%

QoQ+53.8pp

SANUWAVE Health, Inc.'s ROE was -24.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 53.8 percentage points.

Capital Allocation

R&D Spending

$628K

YoY+223.7%

QoQ-4.8%

5Y CAGR+18.2%

10Y CAGR+2.8%

SANUWAVE Health, Inc. invested $628K in research and development in Q2 2026. This represents an increase of 223.7% from the same quarter a year earlier. Against the prior quarter it is down 4.8%.

Capital Expenditures

$334K

YoY-71.2%

QoQ+1352.2%

SANUWAVE Health, Inc. invested $334K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 71.2% from the same quarter a year earlier. Against the prior quarter it is up 1352.2%.

Share Buybacks

Not reported for Q2 2026.

SNWV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SNWV quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$44.0M	$44.1M+35.0%	$32.6M+60.0%	$20.4M+21.8%	$16.7M+28.7%	$13.0M+220.7%	$4.1M+165.4%	$1.5M-17.4%	$1.9M+150.5%	$739K-46.3%	$1.4M+42.5%	$966K+13.9%	$847K+5.9%	$800K+4.0%	$769K-4.2%	$803K
Cost of Revenue	$10.4M	$10.1M+24.7%	$8.1M+34.0%	$6.0M+39.3%	$4.3M-13.1%	$5.0M+329.1%	$1.2M+115.6%	$539K-22.3%	$694K+186.7%	$242K-57.2%	$565K+98.3%	$285K+29.5%	$220K+15.9%	$190K-13.8%	$220K-15.9%	$262K
Gross Profit	$33.6M	$34.0M+38.4%	$24.6M+70.9%	$14.4M+15.7%	$12.4M+54.7%	$8.0M+177.2%	$2.9M+491.0%	$490K-57.6%	$1.2M+132.9%	$497K-38.8%	$811K+19.2%	$681K+8.5%	$627K+2.8%	$610K+11.2%	$549K+1.5%	$541K
R&D Expenses	$2.2M	$1.4M+101.0%	$673K+16.2%	$579K+2.1%	$567K-48.5%	$1.1M-11.6%	$1.2M+5.4%	$1.2M+20.4%	$982K-24.1%	$1.3M+14.5%	$1.1M-48.1%	$2.2M-27.6%	$3.0M+30.7%	$2.3M+30.3%	$1.8M-35.5%	$2.7M
SG&A Expenses	$20.3M	$19.4M+50.0%	$12.9M+48.9%	$8.7M-30.9%	$12.6M+7.4%	$11.7M-14.8%	$13.7M+113.1%	$6.4M-5.4%	$6.8M+126.7%	$3.0M+12.4%	$2.7M-2.2%	$2.7M-16.3%	$3.3M-17.5%	$4.0M-12.4%	$4.5M-28.1%	$6.3M
Operating Income	$1.5M	$4.9M+28.5%	$3.8M+812.6%	-$540K+94.0%	-$9.0M+36.7%	-$14.1M+43.9%	-$25.2M-186.5%	-$8.8M-22.5%	-$7.2M-87.7%	-$3.8M-15.3%	-$3.3M+25.3%	-$4.4M+25.6%	-$6.0M+0.2%	-$6.0M+1.4%	-$6.1M+31.2%	-$8.8M
EBITDA	N/A	$5.9M+27.7%	$4.6M+850.0%	$488K+106.1%	-$8.0M+38.0%	-$12.9M+48.2%	-$24.9M-185.5%	-$8.7M-21.9%	-$7.2M-88.3%	-$3.8M-27.1%	-$3.0M+27.6%	-$4.1M+26.9%	-$5.6M+0.1%	-$5.6M+1.5%	-$5.7M+32.4%	-$8.5M
Interest Expense	N/A	N/A	$12.6M	N/A	$12.8M+85.5%	$6.9M+239.9%	$2.0M+10.3%	$1.8M-59.2%	$4.5M+294.5%	$1.1M+33.3%	$855K+113.8%	$400K-7.8%	$434K+20.4%	$360K+11.5%	$323K-31.5%	$472K
Income Tax	N/A	$86K+218.5%	$27K+575.0%	$4K+100.0%	$2K-92.9%	$28K	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	$15.3M	$11.8M+135.7%	-$33.1M-28.2%	-$25.8M-150.7%	-$10.3M+62.2%	-$27.3M+11.9%	-$30.9M-196.6%	-$10.4M	N/A	-$5.5M+14.0%	-$6.4M-33.9%	-$4.8M+19.5%	-$6.0M	N/A	-$6.4M+37.5%	-$10.2M
EPS (Basic)	N/A	$1.38+118.6%	-$7.41+39.2%	-$12.19-60850.0%	-$0.02+60.0%	-$0.05+37.5%	-$0.08-60.0%	-$0.05	N/A	N/A	N/A	N/A	N/A	N/A	-$0.30+42.3%	-$0.52
EPS (Diluted)	$0.34	$0.41	-$7.41	-$12.19	-$0.02+60.0%	-$0.05+37.5%	-$0.08	-$0.05	N/A	N/A	N/A	N/A	N/A	N/A	-$0.30+42.3%	-$0.52
Diluted Shares (Avg)	N/A	9M	4M	2M	549M+6.0%	518M+37.1%	378M	204M	N/A	N/A	N/A	N/A	N/A	N/A	21M+6.6%	20M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$9.7M-3.1%	$9.6M+3.1%	$13.4M+29.7%	$11.3M+20.4%	$10.1M+40.4%	$9.3M+61.3%	$10.3M+47.6%	$9.4M+89.0%
Cost of Revenue	$2.3M+4.9%	$2.2M+11.7%	$3.4M+48.4%	$2.5M+10.2%	$2.2M+14.8%	$2.0M+23.6%	$2.3M+5.8%	$2.3M+62.4%
Gross Profit	$7.4M-5.4%	$7.4M+0.8%	$10.0M+24.4%	$8.7M+23.7%	$7.8M+49.8%	$7.4M+75.5%	$8.0M+66.3%	$7.1M+99.6%
R&D Expenses	$628K+223.7%	$660K+217.3%	$606K+293.5%	$345K+114.3%	$194K-0.5%	$208K+27.6%	$154K+6.9%	$161K-2.4%
SG&A Expenses	$4.9M+12.2%	$5.3M+8.4%	$5.0M+30.8%	$5.2M+72.2%	$4.4M+100.0%	$4.8M+23.6%	$3.8M+90.3%	$3.0M+12.5%
Operating Income	-$280K-119.5%	-$1.1M-287.0%	$2.0M-0.4%	$903K-39.1%	$1.4M-12.7%	$601K+146.4%	$2.0M+93.8%	$1.5M+379.3%
EBITDA	-$29K-101.8%	-$830K-202.5%	$2.4M+4.1%	$1.1M-33.4%	$1.6M-11.8%	$810K+169.9%	$2.3M+59.0%	$1.7M+591.0%
Interest Expense	$518K-73.3%	$546K-71.4%	N/A	$1.8M-46.5%	$1.9M-43.4%	$1.9M-41.5%	$2.5M	$3.4M
Income Tax	$6K	N/A	N/A	N/A	$0	N/A	N/A	N/A
Net Income	-$682K-223.8%	-$1.4M+76.5%	$7.7M+157.8%	$9.7M+145.8%	$551K-91.1%	-$6.1M-27.5%	-$13.3M-173.0%	-$21.2M+10.7%
EPS (Basic)	-$0.08-233.3%	-$0.17+76.4%	$0.90+180.4%	$1.13+117.0%	$0.06+500.0%	-$0.72	-$1.12-3833.3%	-$6.65+33.2%
EPS (Diluted)	-$0.08-100.0%	-$0.17+76.4%	$0.20	$0.39	-$0.04	-$0.72	-$1.12	-$6.65
Diluted Shares (Avg)	9M-6.2%	9M+0.5%	N/A	9M	9M	9M	N/A	3M

SNWV Balance Sheet

SNWV quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$37.3M+24.0%	$30.1M+34.4%	$22.4M+12.8%	$19.9M+6.7%	$18.6M-19.1%	$23.0M+580.9%	$3.4M+187.2%	$1.2M-7.9%	$1.3M+27.3%	$1.0M+4.9%	$958K-79.5%	$4.7M+193.8%	$1.6M-14.2%	$1.9M-70.0%	$6.2M
Current Assets	$24.6M+33.9%	$18.4M+88.0%	$9.8M+47.8%	$6.6M+50.5%	$4.4M-44.5%	$7.9M+216.6%	$2.5M+131.1%	$1.1M-10.0%	$1.2M+31.8%	$914K+43.7%	$636K-84.2%	$4.0M+527.3%	$643K+11.0%	$579K-87.3%	$4.6M
Cash & Equivalents	$12.0M+16.8%	$10.2M+469.7%	$1.8M+55.9%	$1.2M+86.3%	$619K-74.6%	$2.4M+38.4%	$1.8M+382.9%	$365K-50.1%	$730K+446.7%	$134K-12.7%	$153K-95.7%	$3.5M+1845.6%	$182K+159.2%	$70K-98.2%	$3.9M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$5.9M+43.0%	$4.1M+40.6%	$3.0M+240.0%	$868K-16.5%	$1.0M-64.8%	$3.0M+444.4%	$543K+51.7%	$358K+54.5%	$232K-0.2%	$232K-18.6%	$285K+4.8%	$272K+10.5%	$246K-15.9%	$293K-26.1%	$396K
Accounts Receivable	$5.4M+62.9%	$3.3M+0.5%	$3.3M-17.7%	$4.0M+66.8%	$2.4M+2.5%	$2.4M+3018.8%	$76K-67.8%	$235K+53.9%	$153K-66.9%	$461K+518.9%	$74K-13.8%	$86K-38.2%	$140K+59.1%	$88K+7.7%	$82K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$35.7M-22.2%	$45.9M-30.0%	$65.6M+7.7%	$60.9M+5.7%	$57.6M+56.7%	$36.7M+173.3%	$13.4M-18.7%	$16.5M+48.2%	$11.2M+41.0%	$7.9M+15.8%	$6.8M+9.9%	$6.2M-19.4%	$7.7M-7.8%	$8.4M+8.7%	$7.7M
Current Liabilities	$17.8M-60.7%	$45.4M-29.9%	$64.8M+7.5%	$60.2M+7.0%	$56.3M+55.5%	$36.2M+191.4%	$12.4M-24.7%	$16.5M+47.7%	$11.2M+41.0%	$7.9M+432.0%	$1.5M-76.1%	$6.2M+165.4%	$2.3M-21.7%	$3.0M+28.9%	$2.3M
Non-Current Liabilities	$17.9M+3540.9%	$491K-41.5%	$839K+25.6%	$668K-49.2%	$1.3M+130.1%	$571K-44.6%	$1.0M+2104.4%	$47K	$0	$0-100.0%	$5.3M	$0-100.0%	$5.4M-0.1%	$5.4M-0.1%	$5.4M
Long-Term Debt	$16.1M	N/A	N/A	N/A	$875K+511.9%	$143K	N/A	N/A	N/A	$5.4M	N/A	N/A	N/A	$5.4M	N/A
Total Equity	$1.6M+110.3%	-$15.8M+64.5%	-$44.5M-8.6%	-$41.0M-5.3%	-$39.0M-184.0%	-$13.7M-36.3%	-$10.1M+34.5%	-$15.4M-55.4%	-$9.9M-43.0%	-$6.9M-17.6%	-$5.9M-278.9%	-$1.6M+74.7%	-$6.1M+6.0%	-$6.5M-324.3%	-$1.5M
Retained Earnings	-$242.7M+4.6%	-$254.5M-15.7%	-$220.0M-13.3%	-$194.2M-5.6%	-$183.9M-17.4%	-$156.7M-24.6%	-$125.8M-7.8%	-$116.6M-11.1%	-$105.0M-5.6%	-$99.4M-6.9%	-$93.0M-5.5%	-$88.2M-7.3%	-$82.2M-15.9%	-$70.9M-9.9%	-$64.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$36.6M+10.8%	$37.1M+20.2%	$37.3M+24.0%	$35.6M+63.0%	$33.0M+57.3%	$30.9M+32.3%	$30.1M+34.4%	$21.8M+7.4%
Current Assets	$23.2M+15.0%	$24.0M+27.2%	$24.6M+33.9%	$22.6M+128.5%	$20.2M+131.2%	$18.8M+73.9%	$18.4M+88.0%	$9.9M+33.9%
Cash & Equivalents	$9.4M+10.4%	$10.8M+26.8%	$12.0M+16.8%	$9.6M+194.6%	$8.5M+245.4%	$8.5M+189.5%	$10.2M+469.7%	$3.3M+197.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$7.1M+19.6%	$5.9M+8.2%	$5.9M+43.0%	$6.8M+98.6%	$5.9M+116.4%	$5.5M+121.7%	$4.1M+40.6%	$3.4M+100.3%
Accounts Receivable	$5.8M+50.8%	$6.0M+55.2%	$5.4M+62.9%	$4.6M+62.9%	$3.8M+22.0%	$3.9M+28.5%	$3.3M+0.5%	$2.8M-12.2%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%	$7.3M0.0%
Total Liabilities	$33.8M-34.8%	$35.3M-31.8%	$35.7M-22.2%	$43.2M-47.4%	$51.8M-14.5%	$51.7M-27.1%	$45.9M-30.0%	$82.1M-4.9%
Current Liabilities	$18.2M-64.0%	$18.3M-64.0%	$17.8M-60.7%	$24.0M-70.6%	$50.4M-15.9%	$50.8M-27.6%	$45.4M-29.9%	$81.5M-4.6%
Non-Current Liabilities	$15.6M+1085.2%	$17.0M+1828.9%	$17.9M+3540.9%	$19.0M+3090.7%	$1.3M+101.8%	$879K+19.6%	$491K-41.5%	$594K-31.1%
Long-Term Debt	N/A	$14.8M	$16.1M	$17.5M	N/A	N/A	N/A	N/A
Total Equity	$2.8M+114.8%	$1.8M+108.8%	$1.6M+110.3%	-$7.6M+87.4%	-$18.8M+52.5%	-$20.8M+56.3%	-$15.8M+64.5%	-$60.3M+8.6%
Retained Earnings	-$244.8M+5.9%	-$244.1M+6.3%	-$242.7M+4.6%	-$250.4M-4.9%	-$260.1M-19.3%	-$260.6M-16.0%	-$254.5M-15.7%	-$238.7M-0.2%

SNWV Cash Flow Statement

SNWV quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$5.2M	$3.9M+57.9%	$2.5M+154.1%	-$4.5M+73.6%	-$17.2M-167.9%	-$6.4M+49.6%	-$12.7M-98.4%	-$6.4M-77.0%	-$3.6M-136.8%	-$1.5M+52.2%	-$3.2M+7.9%	-$3.5M+48.0%	-$6.7M-70.2%	-$3.9M+8.5%	-$4.3M+51.4%	-$8.8M
Depreciation & Amortization	N/A	$974K+23.6%	$788K-23.3%	$1.0M+8.0%	$952K-23.0%	$1.2M+313.4%	$299K+319.9%	$71K+218.9%	$22K-7.2%	$24K-92.6%	$327K+5.2%	$310K-3.3%	$321K-1.6%	$326K-0.2%	$327K+0.4%	$326K
Stock-Based Compensation	N/A	$4.8M+220.3%	$1.5M	$0	N/A	$0-100.0%	$22K-93.4%	$333K-86.6%	$2.5M+223.0%	$768K+40.2%	$548K+8.6%	$505K+273.7%	$135K-83.0%	$792K-43.1%	$1.4M+24.4%	$1.1M
Capital Expenditures	$978K	$1.9M+296.3%	$490K	$0	N/A	$529K+898.1%	$53K-1.7%	$54K+25.8%	$43K	$0-100.0%	$10K	N/A	$9K	N/A	$2K-95.2%	$42K
Free Cash Flow	$4.2M	$1.9M-1.6%	$2.0M+143.3%	-$4.5M	N/A	-$6.9M+45.7%	-$12.8M-97.5%	-$6.5M-76.4%	-$3.7M-139.6%	-$1.5M+52.4%	-$3.2M	N/A	-$6.7M	N/A	-$4.3M+51.6%	-$8.9M
Investing Cash Flow	$4.1M	$3.4M+800.6%	-$490K-2433.3%	$21K-93.7%	$332K+162.8%	-$529K+97.4%	-$20.1M-37077.2%	-$54K-25.8%	-$43K	$0+100.0%	-$9K-108.8%	$100K+1228.8%	-$9K-218.1%	$8K+472.9%	-$2K+95.2%	-$42K
Financing Cash Flow	-$8.5M	-$5.6M-187.9%	$6.4M+21.9%	$5.2M-70.0%	$17.4M+239.5%	$5.1M-84.7%	$33.4M+325.5%	$7.9M+136.9%	$3.3M+56.7%	$2.1M-34.0%	$3.2M	N/A	$10.1M+149.6%	$4.0M+795.8%	$450K-96.4%	$12.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$425K-57.2%	$397K+126.2%	$3.3M+347.9%	$1.1M-15.7%	$993K+248.7%	-$1.5M-237.9%	$741K+157.7%	$1.3M+162.9%
Depreciation & Amortization	$251K+44.3%	$294K+40.7%	$340K+56.0%	$222K+7.8%	$174K-3.3%	$209K+53.7%	$218K-12.1%	$206K+10.2%
Stock-Based Compensation	$1.6M+38.9%	$1.6M+65.2%	N/A	$1.4M	$1.1M	$975K	N/A	N/A
Capital Expenditures	$334K-71.2%	$23K-85.8%	$96K-59.3%	$525K+993.8%	$1.2M+1159.8%	$162K+42.1%	$236K+39.6%	$48K
Free Cash Flow	$91K+154.8%	$374K+122.3%	$3.2M+538.2%	$556K-54.9%	-$166K+78.2%	-$1.7M-270.3%	$505K+134.7%	$1.2M+160.5%
Investing Cash Flow	-$448K+61.3%	-$158K+2.5%	$279K+218.2%	$4.5M+9422.9%	-$1.2M-1159.8%	-$162K-42.1%	-$236K-233.3%	-$48K-469.2%
Financing Cash Flow	-$1.4M-956.5%	-$1.4M-2389.5%	-$1.2M-119.2%	-$4.5M-923.0%	$161K-41.2%	-$57K-235.7%	$6.5M+248.9%	-$435K-122.5%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SNWV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SNWV quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	77.1%+1.9pp	75.2%+4.8pp	70.4%-3.7pp	74.1%+12.4pp	61.7%-9.7pp	71.4%+39.3pp	32.0%-30.5pp	62.5%-4.7pp	67.2%+8.3pp	58.9%-11.6pp	70.5%-3.5pp	74.0%-2.2pp	76.3%+4.9pp	71.4%+4.0pp	67.4%
Operating Margin	11.2%-0.6pp	11.8%+14.4pp	-2.6%+50.8pp	-53.5%	-108.7%	-621.1%	-575.3%	-388.1%	-517.8%	-241.0%	-459.6%	-703.8%	-747.0%	-788.1%	-1097.6%
Net Margin	26.8%	-101.4%	-126.5%	-61.5%	-209.5%	-762.6%	-682.3%	N/A	-749.9%	-467.9%	-498.2%	-705.0%	N/A	-832.2%	-1275.8%
Return on Equity	729.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	31.6%+141.5pp	-109.8%+5.3pp	-115.1%-63.3pp	-51.8%+94.6pp	-146.4%-12.1pp	-134.3%+174.0pp	-308.4%	N/A	-433.0%+207.7pp	-640.8%-138.8pp	-501.9%-373.9pp	-128.0%	N/A	-345.9%-179.9pp	-166.1%
Current Ratio	1.38+1.0x	0.41+0.3x	0.150.0x	0.110.0x	0.08-0.1x	0.220.0x	0.20+0.1x	0.070.0x	0.110.0x	0.12-0.3x	0.43-0.2x	0.65+0.4x	0.27+0.1x	0.19-1.8x	1.97
Debt-to-Equity	9.97	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Asset Turnover	1.18+0.1x	1.08+0.2x	0.91+0.1x	0.84+0.1x	0.70+0.5x	0.18-0.3x	0.45-1.1x	1.57+1.0x	0.58-0.8x	1.37+0.4x	1.01+0.8x	0.18-0.3x	0.50+0.1x	0.42+0.3x	0.13
FCF Margin	4.4%-1.6pp	6.0%+28.3pp	-22.3%	N/A	-53.3%	-314.8%	-422.9%	-198.0%	-207.0%	-233.3%	N/A	-789.2%	N/A	-558.0%	-1105.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	76.2%-1.8pp	77.3%-1.8pp	74.7%-3.2pp	77.6%+2.1pp	78.1%+4.9pp	79.0%+6.4pp	77.9%+8.7pp	75.5%+4.0pp
Operating Margin	-2.9%-17.2pp	-11.7%-18.1pp	14.9%-4.5pp	8.0%-7.8pp	14.3%-8.7pp	6.4%+28.8pp	19.5%+4.6pp	15.8%+26.6pp
Net Margin	-7.0%-12.5pp	-15.0%+50.6pp	57.4%	86.0%	5.5%-80.9pp	-65.5%+17.4pp	-128.9%	-226.1%
Return on Equity	-24.5%	-78.3%	475.1%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1.9%-3.5pp	-3.9%+16.0pp	20.6%+64.8pp	27.2%+124.1pp	1.7%-27.8pp	-19.8%+0.7pp	-44.2%-125.5pp	-96.9%+19.6pp
Current Ratio	1.28+0.9x	1.31+0.9x	1.38+1.0x	0.94+0.8x	0.40+0.3x	0.37+0.2x	0.41+0.3x	0.120.0x
Debt-to-Equity	12.13	8.03	9.97	N/A	N/A	N/A	N/A	N/A
Asset Turnover	0.270.0x	0.260.0x	0.360.0x	0.32-0.1x	0.300.0x	0.30+0.1x	0.340.0x	0.43+0.2x
FCF Margin	0.9%+2.6pp	3.9%+21.9pp	24.1%+19.2pp	4.9%-8.3pp	-1.7%+9.0pp	-18.0%-35.0pp	4.9%+25.7pp	13.2%+54.3pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
SANUWAVE Health, Inc. SNWV	FY2025	$44.1M	$11.8M	26.8%	$48.3M	69/100
Tactile Systems Technology, Inc. TCMD	FY2025	$329.5M	$19.1M	5.8%	$508.3M	71/100
Neuropace, Inc. NPCE	FY2025	$100.0M	-$21.5M	-21.5%	$434.9M	61/100
ClearPoint Neuro, Inc. CLPT	FY2025	$37.0M	-$25.5M	-69.1%	$319.7M	50/100
Delcath Systems Inc DCTH	FY2025	$85.2M	$2.7M	3.2%	$533.0M	79/100
RxSight, Inc. RXST	FY2025	$134.5M	-$39	0.0%	$200.1M	73/100

Where SANUWAVE Health, Inc. Ranks

Frequently Asked Questions

What is SANUWAVE Health, Inc.'s annual revenue?

SANUWAVE Health, Inc. (SNWV) reported $44.1M in total revenue for fiscal year 2025. This represents a 35.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is SANUWAVE Health, Inc.'s revenue growing?

SANUWAVE Health, Inc. (SNWV) revenue grew by 35.0% year-over-year, from $32.6M to $44.1M in fiscal year 2025.

Is SANUWAVE Health, Inc. profitable?

Yes, SANUWAVE Health, Inc. (SNWV) reported a net income of $11.8M in fiscal year 2025, with a net profit margin of 26.8%.

What is SANUWAVE Health, Inc.'s EBITDA?

SANUWAVE Health, Inc. (SNWV) had EBITDA of $5.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does SANUWAVE Health, Inc. have?

As of fiscal year 2025, SANUWAVE Health, Inc. (SNWV) had $12.0M in cash and equivalents against $16.1M in long-term debt.

What is SANUWAVE Health, Inc.'s gross margin?

SANUWAVE Health, Inc. (SNWV) had a gross margin of 77.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is SANUWAVE Health, Inc.'s operating margin?

SANUWAVE Health, Inc. (SNWV) had an operating margin of 11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is SANUWAVE Health, Inc.'s net profit margin?

SANUWAVE Health, Inc. (SNWV) had a net profit margin of 26.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is SANUWAVE Health, Inc.'s return on equity (ROE)?

SANUWAVE Health, Inc. (SNWV) has a return on equity of 729.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SANUWAVE Health, Inc.'s free cash flow?

SANUWAVE Health, Inc. (SNWV) generated $1.9M in free cash flow during fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is SANUWAVE Health, Inc.'s operating cash flow?

SANUWAVE Health, Inc. (SNWV) generated $3.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SANUWAVE Health, Inc.'s total assets?

SANUWAVE Health, Inc. (SNWV) had $37.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are SANUWAVE Health, Inc.'s capital expenditures?

SANUWAVE Health, Inc. (SNWV) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does SANUWAVE Health, Inc. spend on research and development?

SANUWAVE Health, Inc. (SNWV) invested $1.4M in research and development during fiscal year 2025.

How many shares does SANUWAVE Health, Inc. have outstanding?

SANUWAVE Health, Inc. (SNWV) had 9M shares outstanding as of fiscal year 2025.

What is SANUWAVE Health, Inc.'s current ratio?

SANUWAVE Health, Inc. (SNWV) had a current ratio of 1.38 as of fiscal year 2025, which is considered adequate.

What is SANUWAVE Health, Inc.'s debt-to-equity ratio?

SANUWAVE Health, Inc. (SNWV) had a debt-to-equity ratio of 9.97 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SANUWAVE Health, Inc.'s return on assets (ROA)?

SANUWAVE Health, Inc. (SNWV) had a return on assets of 31.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SANUWAVE Health, Inc.'s P/E ratio?

SANUWAVE Health, Inc. (SNWV) trades at 3.2x earnings, its market capitalization divided by net income of $15.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $48.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is SANUWAVE Health, Inc.'s price-to-sales ratio?

SANUWAVE Health, Inc. (SNWV) trades at 1.1x sales, its market capitalization divided by revenue of $44.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $48.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is SANUWAVE Health, Inc.'s Altman Z-Score?

SANUWAVE Health, Inc. (SNWV) has an Altman Z-Score of -6.45, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is SANUWAVE Health, Inc.'s Piotroski F-Score?

SANUWAVE Health, Inc. (SNWV) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are SANUWAVE Health, Inc.'s earnings high quality?

SANUWAVE Health, Inc. (SNWV) has an earnings quality ratio of 0.33x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is SANUWAVE Health, Inc.?

SANUWAVE Health, Inc. (SNWV) scores 69 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.