Sanuwave Health, Inc. — Q3 FY2026 Earnings Summary

Sanuwave Health reported third-quarter 2026 revenues of $8.6 million, representing a 24% decline from the $11.3 million recorded in the same period of 2025. The company sold 40 Ultramist systems during the quarter, a significant drop from 155 units sold in the prior year, while gross margin remained stable at 77.3%. GAAP operating results shifted to a loss of $1.1 million compared to an operating income of $0.9 million in the previous year, driven by the absence of non-recurring gains recognized in 2025. Adjusted EBITDA for the quarter was $0.7 million, down from $3.2 million in the prior year, as the company navigated market challenges related to CMS proposed reimbursement rules.