Company: SNWV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023881
Chunk: 67

Company: SANUWAVE Health, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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aid and thus was in default. As of December 31, 2024, the note had outstanding accrued interest of $0.The convertible promissory note was settled in 2024 for a cash payment of $1.4 million, which resulted in a gain on the extinguishment of debt of $0.8 million and a reduction in accrued interest of $0.8 million.

12.        Revenue

The disaggregation of revenue is based on type and geographical region. The following table presents revenue from contracts with customers:Three Months Ended March 31, 2025Three Months Ended March 31, 2024United StatesInternationalTotalUnited StatesInternationalTotalConsumables and parts revenue$6,078 $10 $6,088 $4,241 $66 $4,307 System revenue3,198 - 3,198 1,301 71 1,372 License fees and other- 5 5 - 5 5 Product Revenue$9,276 $15 $9,291 $5,542 $142 $5,684 Rental Income51 - 51 102 - 102 Total Revenue$9,327 $15 $9,342 $5,644 $142 $5,786 

13.        Stock-Based Compensation

On August 7, 2024, the stockholders of the Company approved the 2024 Equity Incentive Plan (the “2024 Plan”). The 2024 Plan authorizes the issuance of up to 1,376,556 shares of common stock. Stock options granted under the 2024 Plan include service-based, performance-based, and market-based awards. Service-based stock options generally vest over a three-year period, expire 10 years from the date of grant, and are forfeited upon separation from the Company. Performance-based stock options vest upon the achievement of pre-established financial or operational performance criteria, as determined by the Company’s Board of Directors or Compensation Committee. These awards expire five years from the date of grant and are subject to forfeiture if the performance goals are not achieved within the specified performance period. Market-based stock options vest upon the attainment of certain market conditions, such as specified 

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stock price targets, and also expire five years after the grant date. The fair value of market-based awards is estimated using a Monte Carlo simulation model.All awards under the 2024 Plan are subject to