GlobeNewswire·Nov 10, 2026, 5:00 PM ET

Sanuwave Announces Q3 FY2026 Financial Results

Sanuwave Health reported Q3 2026 revenues of $8.6 million, a 24% decrease from $11.3 million in Q3 2025.
The company sold 40 Ultramist® systems in Q3 2026, down from 155 units in the same period last year.
Ultramist® applicator revenue rose 2% to $6.9 million in Q3 2026 compared to $6.8 million in Q3 2025.
Gross margin for the quarter was 77.3%, slightly down from 77.6% in Q3 2025.
GAAP operating loss totaled $1.1 million in Q3 2026, contrasting with operating income of $0.9 million in Q3 2025.
Net loss for Q3 2026 was $1.4 million, compared to net income of $9.7 million in Q3 2025, due to the absence of prior-year non-cash gains on derivative liabilities \& patent sales.
Adjusted EBITDA for the quarter was $0.7 million, a decline from $3.2 million in the prior-year period.
Cash \& cash equivalents stood at $6.6 million as of September 30, 2026, reduced by $2.3 million paid for sales tax voluntary disclosure agreements.
CEO Morgan Frank attributed sales declines to CMS proposed rules affecting skin substitute pricing \& the 97610 code, which caused practitioners to exit operations \& the market to adopt a wait-and-see approach.
The company noted positive developments including a 14% increase in HOPD rates for code 97610 \& the removal of Q1 status to allow unbundled billing.
A business update conference call is scheduled for November 11, 2026, at 8:30 a.m. EST.