Welcome to our dedicated page for Sanuwave Health SEC filings (Ticker: SNWV), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
SANUWAVE Health, Inc. filings document a Nevada medical-device company focused on directed-energy systems for advanced wound care and regenerative medicine. Form 8-K reports record results of operations, preliminary financial information, investor presentation materials and material-event disclosures related to the company’s wound care business.
Regulatory filings also cover governance and capital-market disclosure subjects, including annual meeting proxy proposals, director elections, auditor ratification, stockholder advisory votes on executive compensation, officer appointments, compensatory arrangements and separation agreements. Additional filings document accounting matters such as non-reliance on previously issued financial statements connected to historical sales and use tax liabilities.
Sanuwave Health, Inc. reported preliminary revenue for the quarter ended March 31, 2026 of $9.6–$9.7 million, an increase of 3–4% over the same quarter in 2025 and in line with its prior Q1 guidance.
Management noted that several larger deals slipped out of the quarter but remain active, contributing to results landing toward the lower end of the guided range. The company highlighted disruption in advanced wound care from reimbursement changes for skin substitutes and allografts, which has caused some customers to pause or scale back activity.
Sanuwave described strong practitioner interest in its Ultramist technology at a recent wound care conference and indicated it plans to “lean in” to the market rather than pull back. The company emphasized that these figures are preliminary and may change when full Q1 results are reported in May.
SANUWAVE Health, Inc. director Tyler James reported receiving a grant of stock options. The award covers 3,208 options, each giving the right to buy one share of common stock at an exercise price of $17.29 per share. According to the filing, these options were fully vested on the grant date and expire on March 31, 2031. Following this grant, James holds 3,208 stock options directly, with no common stock purchases or sales reported in this filing.
SANUWAVE Health, Inc. reported that Chief Executive Officer Frank C. Morgan received a grant of stock options. He was awarded options to purchase 3,208 shares of common stock at an exercise price of $17.29 per share, fully vested on the grant date. These options expire on March 31, 2031, and following this grant he holds 3,208 stock options directly.
SANUWAVE Health, Inc. director Jeffrey Blizard reported a grant of stock options as part of his compensation. On March 31, 2026, he acquired 3,208 stock options, each giving the right to buy one share of common stock at an exercise price of $17.29.
The options were fully vested at the grant date and expire on March 31, 2031. Following this grant, Blizard holds 3,208 derivative securities directly, reflecting a routine award rather than an open-market purchase or sale.
SANUWAVE Health director Gregory Matthew Bazar received a grant of stock options covering 3,208 shares of Common Stock. The options have an exercise price of $17.29 per share and were fully vested on the grant date.
The options expire on March 31, 2031, and give him the right to buy up to 3,208 shares if exercised.
SANUWAVE Health, Inc. director Ian D. Miller received a grant of stock options covering 3,609 shares of common stock. The options have an exercise price of $17.29 per share, were fully vested on the grant date, and expire on March 31, 2031. Following this compensation award, Miller holds 3,609 derivative securities directly, with no related share sales or open-market purchases reported in this filing.
SANUWAVE Health Inc Schedule 13G/A: The Vanguard Group filed Amendment No. 1 reporting 0 shares and 0% beneficial ownership of SANUWAVE common stock following an internal realignment. The filing states this change is "in accordance with SEC Release No. 34-39538 (January 12, 1998)." The amendment is signed by Ashley Grim on 03/27/2026.
Sanuwave Health reported record results for Q4 and full year 2025, with revenue of $13.4 million in Q4, up 29.7%, and full-year revenue of $44.1 million, up 35.0% from 2024. UltraMIST systems and consumables drove nearly all sales.
Q4 2025 gross margin was 74.7%, affected by a $0.5 million PACE inventory write-off, while full-year gross margin improved to 77.1% from 75.2%. Q4 operating income was $2.0 million, and full-year operating income rose to $4.9 million.
Net income reached $7.7 million in Q4 and $11.8 million for 2025, compared with net losses in 2024. Adjusted EBITDA was $4.8 million for Q4 and $13.6 million for 2025. The company guides 2026 revenue to $51.0–55.0 million, implying 16–25% growth.
Sanuwave Health reports strong growth and significant accounting changes in its annual report for the year ended December 31, 2025. Revenue reached $44.1 million, up 35% from $32.6 million in 2024, driven almost entirely by its UltraMIST ultrasound wound care system and consumables, which contributed about 99% of revenue.
The company restated prior-year and interim financial statements after identifying errors in sales tax accounting and revenue recognition for extended warranties. Management concluded these errors were material and that earlier reports should no longer be relied upon. Sanuwave also disclosed material weaknesses in internal control over financial reporting and ineffective disclosure controls.
Despite a history of losses, Sanuwave executed a secured debt refinancing in 2025 and generated net income of $11.8 million with positive operating income for both 2024 and 2025. Management believes cash flows and existing cash will fund operations and debt service for at least twelve months, while acknowledging that failure to sustain performance or financing access could again pressure its liquidity.
Sanuwave Health, Inc. determined that several previously issued quarterly and annual financial statements can no longer be relied upon due to unrecorded state sales and use tax obligations. The company plans to restate its 2024 annual results and all affected 2024–2025 interim periods in its 2025 Form 10-K.
Based on its ongoing review, Sanuwave expects to record an aggregate increase in reported liabilities of between $4.9 million and $5.2 million as of December 31, 2025. It also expects additional expenses, including taxes, interest and penalties, of $1.6 million to $1.8 million for 2024 and $1.7 million to $1.9 million for 2025. Management is evaluating the impact on internal control over financial reporting and may identify additional material weaknesses, with conclusions to be disclosed in the 2025 Form 10-K, which it expects to file on time.