SANUWAVE Health, Inc. (SNWV) Stock

SANUWAVE Health, Inc. (SNWV) is a Healthcare stock trading at $4.89 (as of 2026-08-20), with a market capitalization of $42.05M and a trailing P/E of 2.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

SANUWAVE Health, Inc. researches, develops, and commercializes noninvasive, high-energy acoustic shock-wave therapies and ultrasound-based treatments. Its products include dermaPACE for diabetic foot ulcers, UltraMIST for ulcer and wound conditions, and orthoPACE for tendinopathies, serving healthcare applications in wound healing and related musculoskeletal and vascular care.

Understand SANUWAVE Health, Inc.: how it makes money

SANUWAVE Health develops and commercializes noninvasive shock wave medical devices for regenerative medicine, and it makes money by selling shock wave systems and related applicators and UltraMist consumables used alongside those systems.

The profit model is driven by building an installed base of UltraMist systems, then monetizing ongoing use through applicators and UltraMist consumables tied to those systems.

Revenue by segment (latest quarter)
Applicators$0.0B
UltraMist Consumables$0.0B

Business quality (Mixed): Investor-relevant operating trackers exist (installed systems in the field and consumables/applicator revenue), but the latest quarter shows essentially no reported revenue and a negative operating margin, so scale and conversion of the installed base into recurring demand are critical.

Valuation: At 10× earnings, SNWV trades 70% below the Medical Equipment average (32×). Note: one-time items can distort reported P/E.

Bull case

  • Installed base is tracked and sizeable: UltraMist Active Systems in the Field is 1292 (count), indicating there is an operational base to support follow-on monetization.
  • There is evidence of device plus consumables monetization: The company reports both Applicator Revenue (0.01B) and Revenue From UltraMist Consumables (0.01B), consistent with ongoing purchases tied to its systems.

Bear case

  • Latest quarter economics are weak: For the period ended 2026-03-31, revenue is reported as 0.0B and operating margin is -11.7%.
  • System discontinuations may signal churn or lifecycle pressure: Discontinued UltraMist Systems is 168 (count), which can indicate that not all placed systems remain active over time.
Valuation — source: SEC EDGAR (first-party)
Price$4.89
Market Cap$42.05M
P/E Ratio2.6
EV / EBITDA13.3
Price / Book22.88
Price / Sales0.95
FCF Yield9.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$44.05M
Net Margin26.8%
Revenue Growth (YoY)3.0%
EPS Growth (YoY)-74.2%
FCF Growth (YoY)-122.3%
Financial Health — source: SEC EDGAR
Altman Z-Score-6.56 (distress)
Valuation vs Sector & Industry
Stock P/E2.6
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
vs Sector-87.9%
vs Industry-92.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderOpaleye Management Inc. ($16.97M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOMorgan C. Frank
Employees46
CountryUS
IPO Date2009-09-30

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SNWV earnings history · SNWV institutional & insider holders · SNWV KPIs & operating metrics · SNWV financials · SNWV investor presentations & press releases · SNWV SEC filings · SNWV peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.