Sanuwave (NASDAQ: SNWV) reported preliminary Q3 2025 revenues of $11.4M–$11.6M, the highest quarterly revenue in company history, up 22%–24% vs Q3 2024 and 12%–14% sequentially. First nine months 2025 revenue rose 39%–40% vs YTD 2024. Q3 results missed prior guidance of $12.0M–$12.7M and management lowered 2025 annual revenue guidance from $48M–$50M to $44M–$46M. Company cited near-term reimbursement uncertainty for some wound-care modalities that delayed purchases, but said UltraMIST reimbursement (97610) is not affected and may increase slightly in 2026. Full Q3 2025 results are planned for release on or around November 7, 2025.
Sanuwave (NASDAQ: SNWV) ha riportato entrate preliminari del Q3 2025 di $11,4–11,6 milioni, la più alta entrata trimestrale nella storia dell'azienda, in aumento del 22%–24% rispetto al Q3 2024 e del 12%–14% rispetto al trimestre precedente. Le entrate dei primi nove mesi del 2025 sono aumentate del 39%–40% rispetto al periodo YTD 2024. I risultati del Q3 hanno mancato la guidance precedente di $12,0–12,7 milioni e la direzione ha abbassato la guidance annuale per il 2025 da $48–$50 milioni a $44–$46 milioni. L'azienda ha citato incertezza di rimborso a breve termine per alcune modalità di medicazione delle ferite che hanno ritardato gli ordini, ma ha detto che il rimborso UltraMIST (97610) non è interessato e potrebbe aumentare leggermente nel 2026. I risultati completi del Q3 2025 sono previsti per la pubblicazione su o intorno all'11 novembre 2025.
Sanuwave (NASDAQ: SNWV) informó ingresos preliminares del Q3 2025 de 11,4–11,6 millones de dólares, el más alto ingreso trimestral de la historia de la empresa, un aumento del 22%–24% frente al Q3 2024 y del 12%–14% secuencialmente. Los ingresos de los primeros nueve meses de 2025 subieron un 39%–40% frente al YTD 2024. Los resultados del Q3 no alcanzaron la guía previa de 12,0–12,7 millones y la dirección redujo la guía anual de ingresos para 2025 de 48–50 millones a 44–46 millones. La compañía citó incertidumbre de reembolso a corto plazo para algunas modalidades de cuidado de heridas que retrasaron las compras, pero dijo que el reembolso UltraMIST (97610) no se ve afectado y podría aumentar ligeramente en 2026. Los resultados completos del Q3 2025 están previstos para su publicación el 7 de noviembre de 2025 aproximadamente.
Sanuwave(NASDAQ: SNWV)는 2025년 3분기 예비 매출을 1140만–1160만 달러로 보고했으며, 이는 회사 역사상 가장 높은 분기 매출이며 2024년 3분기 대비 22%–24%, 전분기 대비 12%–14% 증가했습니다. 2025년 상반기 누적 매출은 2024년 YTD 대비 39%–40% 증가했습니다. Q3 결과는 이전 가이던스 12.0–12.7백만 달러를 하회했고 경영진은 2025년 연간 매출 가이던스를 48–50백만 달러에서 44–46백만 달러로 하향 조정했습니다. 회사는 상처 치료 모달리티의 단기 상환 불확실성으로 구매가 지연되었다고 언급했지만 UltraMIST 상환(97610)은 영향받지 않으며 2026년에 소폭 증가할 수 있다고 말했습니다. 2025년 3분기 전체 실적은 2025년 11월 7일경 발표될 예정입니다.
Sanuwave (boursière: SNWV) a communiqué des revenus préliminaires du T3 2025 de 11,4–11,6 millions de dollars, le plus élevé de l'histoire de l'entreprise, en hausse de 22%–24% par rapport au T3 2024 et de 12%–14% en glissement trimestriel. Les revenus des neuf premiers mois de 2025 ont augmenté de 39%–40% par rapport au YTD 2024. Les résultats du T3 ont manqué l’objectif précédent de 12,0–12,7 millions et la direction a abaissé l’objectif annuel des revenus pour 2025 de 48–50 millions à 44–46 millions. L’entreprise a cité une incertitude de remboursement à court terme pour certaines modalités de soins des plaies ayant retardé les achats, mais a déclaré que le remboursement UltraMIST (97610) n’était pas affecté et pourrait légèrement augmenter en 2026. Les résultats complets du T3 2025 sont prévus pour être publiés aux alentours du 7 novembre 2025.
Sanuwave (NASDAQ: SNWV) meldete vorläufige Q3 2025-Umsätze von 11,4–11,6 Mio. $, der bislang höchsten Quartalsumsätze in der Firmengeschichte, ein Anstieg von 22%–24% gegenüber Q3 2024 und 12%–14% sequenziell. Die Umsätze der ersten neun Monate 2025 stiegen um 39%–40% gegenüber dem YTD 2024. Die Q3-Ergebnisse verfehlten die frühere Guidance von 12,0–12,7 Mio. $ und das Management senkte die Jahresumsatzguidance 2025 von 48–50 Mio. $ auf 44–46 Mio. $. Das Unternehmen verwies auf kurzfristige Erstattungsunsicherheiten für einige Wundversorgungsmodalitäten, die Käufe verzögert haben, sagte jedoch, dass die UltraMIST-Erstattung (97610) nicht betroffen ist und voraussichtlich 2026 leicht steigen könnte. Die vollständigen Q3 2025-Ergebnisse sollen am oder um den 7. November 2025 veröffentlicht werden.
سونوويف (ناسداك: SNWV) أبلغت عن إيرادات مؤقتة للربع الثالث من 2025 قدرها 11.4–11.6 مليون دولار، وهو أعلى إيراد ربع سنوي في تاريخ الشركة، بزيادة قدرها 22%–24% مقارنة بالربع الثالث من 2024 وبزيادة 12%–14% على التوالي. ارتفعت إيرادات الأشهر التسعة الأولى من 2025 بنحو 39%–40% مقارنة حتى تاريخه في 2024. النتائج للربع الثالث جاءت دون التوجيه السابق البالغ 12.0–12.7 مليون دولار، وقادت الإدارة بتخفيض التوجيه السنوي لإيرادات 2025 من 48–50 مليون دولار إلى 44–46 مليون دولار. أشارت الشركة إلى عدم اليقين في السداد على المدى القصير لبعض طرق الرعاية الجراحية التي أجلت الشراء، لكنها قالت إن سداد UltraMIST (97610) غير متأثر وربما يزيد قليلاً في 2026. من المقرر إصدار النتائج الكاملة للربع الثالث 2025 في أو حول 7 نوفمبر 2025.
2025 annual guidance reduced to $44M–$46M from $48M–$50M
Near-term market disruption from proposed reimbursement changes delayed purchases
Insights
Q3 showed record quarterly revenue but missed guidance and prompted a lowered full-year outlook.
Sanuwave reported preliminary Q3 revenue of $11.4–11.6M, a year/year increase of 22–24% and sequential growth of 12–14%, and sold a record number of systems. Management reduced 2025 revenue guidance from $48–50M to $44–46M and noted reimbursement uncertainty in the wound-care market that delayed purchases early in the quarter.
The business mechanism is clear: durable device sales drove the record quarterly result, but near-term demand proved sensitive to reimbursement policy signals. Key risks include the evolving reimbursement landscape and the company missing its prior guidance for the first time under current leadership. The preliminary numbers may still change during quarter-end close.
Watch for the audited Q3 release around Nov 7, 2025, the management call replay through Oct 27, 2025, any details on 97610 reimbursement trajectories for 2026, and actual close-adjusted revenue and margin disclosures; these items will matter over the next 30–60 days.
Sanuwave announces preliminary revenues of $11.4 million to $11.6 million for the third quarter ended September 30, 2025. This represents the highest quarterly revenues in Company history.
Q3 2025 revenue increased between 22% and 24% vs Q3 2024 and between 12% and 14% sequentially vs the prior quarter
First nine months of 2025 revenue increased 39-40% vs first nine months of 2024.
EDEN PRAIRIE, Minn., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Sanuwave Health, Inc. (the "Company" or "Sanuwave”) (NASDAQ: SNWV), a leading provider of next-generation FDA-approved wound care products, today announced that revenues for the third quarter of 2025 are expected to be in the range of $11.4 to $11.6 million, an increase of 22% to 24% over Q3 2024. This number is below the $12-$12.7 million range of guidance given in the Company’s Q2 2025 earnings release issued on August 8, 2025.
“Q3 turned out of be a more challenging quarter than we expected,” said CEO Morgan Frank. “The wound care space has had quite a lot of uncertainty around the proposed reimbursement changes for certain treatment modalities, particularly skin substitutes/grafts. This uncertainty seems to have frozen the market a bit, particularly early in the quarter. Purchase decisions were delayed and patient counts reduced as providers seemed to take a ‘wait and see’ approach to potential changes. This made for a difficult environment. All in all, I think the team did well to achieve 12-14% sequential growth during this period and 22-24% vs the ‘pig through a python’ quarter last year. Despite the headwinds, we sold a record number of systems in the quarter. That said, we fell short of our target and of our guidance (the first time this has happened in my tenure as CEO). The quarter started slowly, and we simply could not make up the ground despite ending on a high note with September being the highest revenue month in Sanuwave history. That said, based on the performance in Q3, we feel it prudent at this time to alter our 2025 annual revenue guidance from $48-$50 million to $44-$46 million.
As many have asked, UltraMIST reimbursement is not affected by the potential changes in allograft reimbursement and, while it is not yet final, based upon the guidance we have seen so far, we expect reimbursement for the 97610 code to increase very slightly in 2026 as compared to 2025. While the current disruption has been a near-term challenge, we suspect it represents a significant future opportunity, and we continue to feel good about our pipeline and our progress.”
The Company will host a conference call to discuss these numbers on October 6, 2025 at 5:30pm ET.
Telephone access to the call will be available by dialing the following numbers:
A replay will be made available through October 27, 2025:
Toll-Free: 1-844-512-2921 or 1-412-317-6671
Replay Access ID: 11160198
The Company plans to release its full Q3 2025 results on or around November 7, 2025.
The preliminary revenue results described herein are based on management’s initial analysis of the third quarter ended September 30, 2025, and may be subject to adjustments based on the Company’s completion of its quarter-end financial close process.
About Sanuwave
Sanuwave Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.
Sanuwave’s end-to-end wound care portfolio of regenerative medicine products and product candidates help restore the body’s normal healing processes. Sanuwave applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future financial results, production expectations, plans for future business development activities and expectations regarding the impact of changes in tariff rates. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with regulatory oversight, the Company’s ability to manage its capital resources, competition and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
What were Sanuwave (SNWV) preliminary revenues for Q3 2025?
Preliminary Q3 2025 revenues were $11.4M–$11.6M, the company’s highest quarterly revenue.
How did Sanuwave Q3 2025 revenue compare year-over-year and sequentially?
Q3 2025 revenue rose 22%–24% vs Q3 2024 and 12%–14% sequentially versus Q2 2025.
Why did Sanuwave lower its 2025 revenue guidance on October 6, 2025?
Management cited near-term reimbursement uncertainty that delayed provider purchase decisions, prompting guidance cut to $44M–$46M.
Did Sanuwave miss its Q3 2025 guidance and what was the prior range?
Yes; Q3 2025 preliminary revenue missed prior guidance of $12.0M–$12.7M issued August 8, 2025.
What did Sanuwave say about UltraMIST reimbursement (code 97610)?
The company said UltraMIST reimbursement is not affected by the proposed allograft changes and expects a slight increase for code 97610 in 2026 based on available guidance.
When will Sanuwave release full Q3 2025 financial results?
The company plans to release full Q3 2025 results on or around November 7, 2025.
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