Company: SNWV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023881
Chunk: 72

Company: SANUWAVE Health, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 versus actual results are used in assessing performance of the segment and in establishing management’s compensation.Management has determined that Morgan Frank, CEO, is the CODM.

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The following table sets forth our condensed consolidated statements of comprehensive loss used by the CODM:Three Months Ended March 31,(in thousands)20252024Revenue$9,342 $5,786 Cost of Revenues1,958 1,584 Gross Margin7,384 4,202 Operating Expenses:General and administrative4,467 3,675 Selling and marketing1,531 1,232 Research and development208 163 Depreciation and amortization192 182 Total Operating Expenses6,398 5,252 Total Other Expense(6,662)(3,478)Net Loss$(5,676)$(4,528)

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Item 2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited condensed consolidated financial statements and the related notes appearing elsewhere in this report, and together with our audited consolidated financial statements, related notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as of and for the year ended December 31, 2024 included in our Annual Report on Form 10-K, filed with the SEC on March 20, 2025 (the “2024 Annual Report”).

Executive Summary

We continued to realize significant revenue growth during the three months ended March 31, 2025, as compared to the same period in 2024. Revenue for the three months ended March 31, 2025, totaled $9.3 million, an increase of 61%, as compared to $5.8 million for the same period of 2024.

Net loss for the three months ended March 31, 2025, was $5.7 million compared to a net loss of $4.5 million for the same period in 2024. The increase in our net loss for the three months ended March 31, 2025, was primarily related to an increase in change of fair value of derivative liabilities. For the three months ended March 31, 2025, our operating income totaled $1.0 million, which is an improvement of $2.0 million compared to the same period of 2024.

Recent Developments