Company: SNWV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023881
Chunk: 87

Company: SANUWAVE Health, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 87
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 compensation975 - Loss on extinguishment of debt- 105 Severance agreement and legal settlement- 585 License and option agreement- (2,500)Adjusted EBITDA$2,326 $(59)

Results of Operations

Three Months Ended March 31,Change(in thousands)20252024$%Revenue$9,342 $5,786 $3,556 61 %Cost of revenue1,958 1,584 374 24 %Gross margin7,384 4,202 3,182 76 %Gross margin %79 %73 %Operating expenses:General and administrative4,467 3,675 792 22 %Selling and marketing1,531 1,232 299 24 %Research and development208 163 45 28 %Depreciation and amortization192 182 10 5 %Operating income (loss)986 (1,050)2,036 194 %Other expense, net(6,662)(3,478)(3,184)-92 %Net loss$(5,676)$(4,528)$(1,148)-25 %

Revenue

Revenues for the three months ended March 31, 2025, were $9.3 million, compared to $5.8 million for the same period of 2024, an increase of $3.6 million or 61%. The increase in net sales was primarily driven by the growth in quantity of UltraMIST® disposables and systems sold as well as a strategic focus on price discipline. The quantity of UltraMIST® disposables sold increased by 32% in the three months ended March 31, 2025, as compared to the same period of 2024. The quantity of UltraMIST® systems sold increased by 128% in the three months ended March 31, 2025, as compared to the same period of 2024. Pricing of the UltraMIST® system and disposables also showed growth in the three months ended March 31, 2025, as compared to the same period of 2024; the average selling price of disposables increased 8% in the three months ended March 31, 2025, and the average selling price of systems increased 8% in the three months ended March 31, 

22

2025. Revenue from UltraMIST® totaled 99