Company: SNWV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050280
Chunk: 47

Company: SANUWAVE Health, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 2026 through August 30, 2030. The total minimum lease payments over the initial lease term amount to approximately $1.4 million.Right-of-use asset and lease liability - In accordance with ASC 842, "Leases," the Company recognized a right-of-use asset and a corresponding lease liability on the condensed consolidated balance sheets as of March 28, 2025. The initial measurement of the right-of-use asset and lease liability was $0.4 million, which represents the present value of the lease payments over the lease term, discounted at the Company's incremental borrowing rate of 11.5%.Lease incentive - As part of a new office lease agreement, the Company received reimbursement payments from the lessor as a lease incentive. These payments, totaling $586 thousand, were intended to offset certain costs associated with leasehold improvements.Lease expense - For the three and nine months ended September 30, 2025, the Company recognized lease expense of $37 thousand and $86 thousand, respectively, related to this operating lease, which is included in general and administrative expenses in the condensed consolidated statements of comprehensive income (loss).

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As of September 30, 2025, the maturities of the Company’s operating leases, which have initial or remaining lease terms more than one year, consist of the following:(in thousands)Operating Leases2025$99 2026270 2027272 2028282 2029292 Thereafter199 Total Lease Payments1,414 Imputed interest(326)Present value of lease liabilities$1,088 The weighted-average useful life of operating leases at September 30, 2025, is 4.75 years.The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

7.        Long Term Debt, Revolving Credit Facility and Senior Secured Debt

The following table summarizes outstanding debt at September 30, 2025 and December 31, 2024:September 30, 2025December 31, 2024(in thousands)PrincipalDebt Issuance CostsCarrying ValuePrincipalDebt DiscountCarrying ValueSecured term loan$23,000 $(292)$22,708 $- $- $- Secured revolving credit facility655(79)576 - - - Senior secured debt$- $- $- $26,898 $(1,593