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Sanuwave Health (SNWV) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Sanuwave Health (SNWV) Q2 2026 earnings results →
Q2 2026 Revenue down 3% year over year to $9.7M · 7¢ of every $1 of revenue lost · operating margin -2.9%
Sanuwave Health made $9.7M in Q2 2026 (-3% Y/Y): Consumables, parts, and accessories revenue $7.3M, System revenue $2.3M, Extended warranty $78K. Operating margin -2.9%, net loss $682K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
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What changed this quarter
Revenue was $9.7M in Q2 2026, down 3% year over year and up 1% from the previous quarter. Consumables, parts, and accessories revenue was the largest line at 75% of revenue. System revenue lost $1.2M year over year (down 34%), 367% of the total change.
Gross margin was 76.2%, down 1.8 points from Q2 2025. Operating costs exceeded revenue by $280K, an operating margin of -2.9%. Operating expenses grew 20% against a revenue fall of 3%. The fastest-growing cost line was Research & development (+224%). The quarter ended with a net loss of $682K, narrower than the previous quarter's $1.4M loss. Net interest and other expense of $396K was the main reason.
Operating cash flow was $425K (down 57% year over year). Non-cash charges added back $313K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $738K. Capital expenditures of $334K left free cash flow of $91K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $9.7M | -3% | -2.9% | −$682K | $425K |
| Q1 2026 | 10-Q | May 12, 2026 | $9.6M | +3% | -11.7% | −$1.4M | $397K |
| Q4 2025 | 10-K | Mar 26, 2026 | $13.4M | +30% | 15.0% | $7.7M | $3.3M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $11.3M | +20% | 13.0% | $10.3M | $1.1M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $10.1M | +40% | 18.7% | $1.1M | $993K |
| Q1 2025 | 10-Q | May 8, 2025 | $9.3M | +61% | 10.6% | −$5.7M | −$1.5M |
| Q4 2024 | 10-K | Mar 20, 2025 | $10.3M | +48% | 24.4% | −$12.7M | $741K |
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About Sanuwave Health
Sanuwave is a medical device company providing directed energy products into the wound care space. Our mission is to improve patient lives and outcomes by developing and marketing effective, easy to use products to decrease wound burden, lessen healing times, and reduce patient pain. Our focus is regenerative medicine utilizing noninvasive ultrasound to produce a biological response promoting the repair and regeneration of tissue, musculoskeletal, and vascular structures. The Company’s patented and FDA cleared product is the UltraMIST ® system, which is used to treat a variety of acute and chronic wounds. The Company is backed by an intellectual property (“IP”) portfolio of over 60 patents.
In its own words, from its 10-K, filed Mar 26, 2026.
Sanuwave Health against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +5%. Operating margin: -2.9% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SNWV Sanuwave Health | Q2 2026 | $9.7M | -3% | -2.9% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Sanuwave Health 10-Q on SEC EDGAR · CIK 1417663 · Surgical & Medical Instruments & Apparatus
13F: who owns SNWV and who is buying
More on SNWV
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results