Filing Flows › Sanuwave Health (SNWV) › Q2 2025
Sanuwave Health (SNWV) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Sanuwave Health (SNWV) reported revenue of $10.1M for the second quarter 2025 (Q2 2025), +40% from a year earlier and +8% from the quarter before. Operating margin was 18.7%, net earnings $1.1M (10.5% of revenue).
Sanuwave Health, Q2 2025: revenue $10.1M (+40% year over year), operating margin 18.7%, net earnings $1.1M, operating cash flow $993K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.1M | +8% | +40% |
| Gross profit | $7.8M | +6% | +50% |
| Operating profit | $1.9M | +90% | -6% |
| Net earnings | $1.1M | — | -84% |
| Operating cash flow | $993K | — | — |
What changed
Revenue was $10.1M in Q2 2025, up 40% year over year and up 8% from the previous quarter. Consumables and parts revenue was the largest line at 67% of revenue. Consumables and parts revenue added $1.7M year over year (up 35%), 60% of the total change. License fees and other declined 33%.
Gross margin was 78.1%, up 4.9 points from a year earlier. Operating profit was $1.9M, a 18.7% margin (down 9.1 points year over year). Operating profit fell $115K even though revenue rose $2.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 84% against revenue growth of 40%. The fastest-growing cost line was General & admin (+120%). Net earnings were $1.1M, down 84% year over year. The effective tax rate was 0.0%.
Operating cash flow was $1.0M, 94% of net earnings. Non-cash charges added back $179K of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $1.2M exceeded it, leaving free cash flow of −$166K.
Questions
What was Sanuwave Health's revenue in the second quarter 2025?
Sanuwave Health (SNWV) reported revenue of $10.1M for the second quarter 2025 (Q2 2025), +40% from a year earlier and +8% from the quarter before.
Was Sanuwave Health profitable in the second quarter 2025?
Operating profit was $1.9M (18.7% of revenue) and net earnings $1.1M.
Source: Sanuwave Health 10-Q on SEC EDGAR.