SANUWAVE Health, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 44.05M, using the latest reported figures. The previous period, 2024, was about USD 32.63M.

Watchlist

Latest quarter

Revenue

9.74 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-2.88%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -280000 USD Source
  • Revenue: 9739000 USD Source

Operating cash flow

425 thousand USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 822000 USD Source
  • Operating Cash Flow: 397000 USD Source

Free cash flow

91 thousand USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 822000 USD Source
  • Operating Cash Flow: 397000 USD Source
  • Capital Expenditure: 357000 USD Source
  • Capital Expenditure: 23000 USD Source
Cash and cash equivalents
9.38 million USD Source
Exact value

9376000 USD

Long-term debt including current maturities
20.5 million USD Source
Exact value

20512000 USD

Shares outstanding
8.6 million shares Source
Exact value

8602309 shares

Reported share-count change

0.40% · 34.3 thousand shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 8568005 shares · 2025-06-30· Source
  • 8602309 shares · 2026-06-30· Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 7 of 11 periods available· newest 2025-12-31
  • Operating income: 7 of 11 periods available· newest 2025-12-31
  • Net income: 7 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 7 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 7 of 11 periods available· newest 2025-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 7 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +35%

    Prior period

    USD 32.63 million

    –

    Current period

    USD 44.05 million

    –

    Exact inputs and evidence

    44051000 − 32634000 = 11417000 USD

    32634000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    44051000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Net income

    +USD 44.9 million

    Prior period

    −USD 33.08 million

    –

    Current period

    USD 11.81 million

    –

    Exact inputs and evidence

    11813000 − -33083000 = 44896000 USD

    -33083000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    11813000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Operating cash flow

    +57.9%

    Prior period

    USD 2.46 million

    –

    Current period

    USD 3.88 million

    –

    Exact inputs and evidence

    3876000 − 2455000 = 1421000 USD

    2455000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3876000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Capital expenditure

    +296.3%

    Prior period

    USD 490,000

    –

    Current period

    USD 1.94 million

    –

    Exact inputs and evidence

    1942000 − 490000 = 1452000 USD

    490000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1942000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 44.05 million 100% of revenue
  • Cost of revenue USD 10.08 million 23% of revenue
  • Operating expenses USD 29.02 million 66% of revenue
  • Operating income USD 4.95 million 11% of revenue
  • Tax, interest and other Derived −USD 6.87 million −16% of revenue
  • Net income USD 11.81 million 27% of revenue

Cash

  • Operating cash flow USD 3.88 million 8.8% of revenue
  • Capital expenditure USD 1.94 million 4.4% of revenue
  • Free cash flow Derived USD 1.93 million 4.4% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Operating loss: operating costs were 341% of revenue.
  • 2017 Operating loss: operating costs were 618% of revenue.
  • 2018 Operating loss: operating costs were 488% of revenue.
  • 2019 Operating loss: operating costs were 643% of revenue.
  • 2023 Operating loss: operating costs were 103% of revenue.
  • 2024 Net loss: net income was −101% of revenue.
  • 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-311376063 4692562 Derived -3316499 3122541 Derived -6439040 -3209817 Derived
Source
2017 2017-01-01 – 2017-12-31738527 4562973 Derived -3824446 1713490 Derived -5537936 -1528971 Derived
Source
2018 2018-01-01 – 2018-12-311850060 9030318 Derived -7180258 4451136 Derived -11631394 -3664060 Derived
Source
2019 2019-01-01 – 2019-12-311528730 9823078 Derived -8294348 1635491 Derived -9929839 -6464697 Derived
Source
2023 2023-01-01 – 2023-12-3120398000 20938000 Derived -540000 25267000 Derived -25807000 -4538000 Derived
Source
2024 2024-01-01 – 2024-12-3132634000 28786000 Derived 3848000 36931000 Derived -33083000 1965000 Derived
Source
2025 2025-01-01 – 2025-12-3144051000 39106000 Derived 4945000 -6868000 Derived 11813000 1934000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 44.1M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.47.6M35.7M23.8M11.9M0.0201620192025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue1376063
2017Revenue738527
2018Revenue1850060
2019Revenue1528730
2023Revenue20398000
2024Revenue32634000
2025Revenue44051000

Revenue growth

Change in revenue from the same financial period one year earlier.

35% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.166%109%52%-5%-62%201620192025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year-46.3%
2018Year over year150.5%
2019Year over year-17.4%
2023Year over yearNo prior comparable period
2024Year over year60%
2025Year over year35%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 11.2% 2025
Net margin 26.8% 2025
Free cash flow margin 4.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.89%-136%-362%-587%-812%201620192025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin-241%
2017Operating margin-517.8%
2018Operating margin-388.1%
2019Operating margin-542.6%
2023Operating margin-2.6%
2024Operating margin11.8%
2025Operating margin11.2%
2016Net margin-467.9%
2017Net margin-749.9%
2018Net margin-628.7%
2019Net margin-649.5%
2023Net margin-126.5%
2024Net margin-101.4%
2025Net margin26.8%
2016Free cash flow margin-233.3%
2017Free cash flow margin-207%
2018Free cash flow margin-198.1%
2019Free cash flow margin-422.9%
2023Free cash flow margin-22.2%
2024Free cash flow margin6%
2025Free cash flow margin4.4%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 3.9M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.7M1.7M-1.3M-4.3M-7.2M201620192025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow-3199453
2017Operating cash flow-1528971
2018Operating cash flow-3621172
2019Operating cash flow-6410758
2023Operating cash flow-4538000
2024Operating cash flow2455000
2025Operating cash flow3876000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 1.9M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.6M194.8K-2.2M-4.7M-7.1M201620192025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow-3209817
2017Free cash flow-1528971
2018Free cash flow-3664060
2019Free cash flow-6464697
2023Free cash flow-4538000
2024Free cash flow1965000
2025Free cash flow1934000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

95.7% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1,516%1,137%758%379%0%201620192025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets787.8%
2017Liabilities / assets872.7%
2018Liabilities / assets1,403.9%
2019Liabilities / assets397.6%
2023Liabilities / assets292.6%
2024Liabilities / assets152.4%
2025Liabilities / assets95.7%

Current assets to current liabilities

Current assets divided by current liabilities.

1.38× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.49×1.12×0.75×0.37×0.00×201620192025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities0.12×
2017Current assets / current liabilities0.11×
2018Current assets / current liabilities0.07×
2019Current assets / current liabilities0.2×
2023Current assets / current liabilities0.15×
2024Current assets / current liabilities0.41×
2025Current assets / current liabilities1.38×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 6.44 million
Exact value

Exact value: -6439040 USD

2016-01-01 – 2016-12-31: -6439040 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 3.2 million
Exact value

Exact value: -3199453 USD

2016-01-01 – 2016-12-31: -3199453 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 10,364
Exact value

Exact value: 10364 USD

2016-01-01 – 2016-12-31: 10364 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 3.21 million
Calculation and evidence

-3199453 − 10364 USD

Exact free cash flow: -3209817 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2017 2017-01-01 – 2017-12-31
−USD 5.54 million
Exact value

Exact value: -5537936 USD

2017-01-01 – 2017-12-31: -5537936 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 1.53 million
Exact value

Exact value: -1528971 USD

2017-01-01 – 2017-12-31: -1528971 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 0
Exact value

Exact value: 0 USD

2017-01-01 – 2017-12-31: 0 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 1.53 million
Calculation and evidence

-1528971 − 0 USD

Exact free cash flow: -1528971 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2018 2018-01-01 – 2018-12-31
−USD 11.63 million
Exact value

Exact value: -11631394 USD

2018-01-01 – 2018-12-31: -11631394 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 3.62 million
Exact value

Exact value: -3621172 USD

2018-01-01 – 2018-12-31: -3621172 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 42,888
Exact value

Exact value: 42888 USD

2018-01-01 – 2018-12-31: 42888 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 3.66 million
Calculation and evidence

-3621172 − 42888 USD

Exact free cash flow: -3664060 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2019 2019-01-01 – 2019-12-31
−USD 9.93 million
Exact value

Exact value: -9929839 USD

2019-01-01 – 2019-12-31: -9929839 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 6.41 million
Exact value

Exact value: -6410758 USD

2019-01-01 – 2019-12-31: -6410758 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 53,939
Exact value

Exact value: 53939 USD

2019-01-01 – 2019-12-31: 53939 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 6.46 million
Calculation and evidence

-6410758 − 53939 USD

Exact free cash flow: -6464697 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2023 2023-01-01 – 2023-12-31
−USD 25.81 million
Exact value

Exact value: -25807000 USD

2023-01-01 – 2023-12-31: -25807000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 4.54 million
Exact value

Exact value: -4538000 USD

2023-01-01 – 2023-12-31: -4538000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 0
Exact value

Exact value: 0 USD

2023-01-01 – 2023-12-31: 0 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 4.54 million
Calculation and evidence

-4538000 − 0 USD

Exact free cash flow: -4538000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2024 2024-01-01 – 2024-12-31
−USD 33.08 million
Exact value

Exact value: -33083000 USD

2024-01-01 – 2024-12-31: -33083000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 2.46 million
Exact value

Exact value: 2455000 USD

2024-01-01 – 2024-12-31: 2455000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 490,000
Exact value

Exact value: 490000 USD

2024-01-01 – 2024-12-31: 490000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.97 million
Calculation and evidence

2455000 − 490000 USD

Exact free cash flow: 1965000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2025 2025-01-01 – 2025-12-31
USD 11.81 million
Exact value

Exact value: 11813000 USD

2025-01-01 – 2025-12-31: 11813000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 3.88 million
Exact value

Exact value: 3876000 USD

2025-01-01 – 2025-12-31: 3876000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.94 million
Exact value

Exact value: 1942000 USD

2025-01-01 – 2025-12-31: 1942000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.93 million
Calculation and evidence

3876000 − 1942000 USD

Exact free cash flow: 1934000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

100 filings · 6,222 latest values · 6,222 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001417663, 1417663, SNWV, edgar:1417663, snwv

Also known as RUB MUSIC ENTERPRISES, INC., SANUWAVE Health, Inc.