# SANUWAVE Health, Inc. (SNWV) · Edgar & Edgarette company card

> SANUWAVE Health (SNWV) grew revenue 35.0% in FY2025 to $44 million, operating margin 11.2% against a 1.2% median for surgical & medical instruments & apparatus, equity 4.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1417663 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SNWV) · [JSON](https://www.pops4.com/boards/company/SNWV.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $44M |
| Revenue growth, 1 year | 35.0% |
| Revenue growth per year | 35.6% |
| Operating margin | 11.2% (prior year 11.8%) |
| Net margin | 26.8% |
| Operating cash flow | $4M |
| Capital spending | $2M |
| Free cash flow | $2M |
| Cash | $12M |
| Long-term debt | $22M |
| Total assets | $37M |
| Total equity | $2M |
| Equity ÷ assets | 4.3% |
| Return on equity | 729.6% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -19.06 (distress zone)
- Piotroski F: 6 of 9 (solid)
- Beneish M: -0.83 (above the −1.78 line)
- Health Harbor boat: Weathered boat · two warning signs · filed earlier statements no longer to be relied on in the last 12 months; revenue is hard to predict: its 80% range is ±62%
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $44.1M (FY2025), total debt $21.9M. Experience: revenue up 35.0% on the year, up 35.6% a year over 4 years; operating margin 11.2%, down from 11.8%. Soundness: equity 4.3% of assets, return on equity 729.6%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $28.6M and $122.5M next year (method v4.1: its own 6-year record of growth weighed at 63% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $25.9M to $135.8M. A statistical range, not company guidance. Against peers (60 filers, $50M+ revenue, surgical & medical instruments & apparatus): operating margin 11.2% against a 1.2% median; growth 35.0% against 11.6%.

Range logged 2026-10-29, receipt 8d5d0220cf0b1eef, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 1, latest 2026-09-25 ([filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026063594/0001628280-26-063594-index.htm))
- Item 4.02 Earlier statements no longer to be relied on: 1, latest 2026-03-13 ([filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026017735/0001628280-26-017735-index.htm))
- Item 5.02 Director or officer change: 1, latest 2025-10-30 ([filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828025047577/0001628280-25-047577-index.htm))

## Recent filings

- 8-K · filed 2026-10-28 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026067943/0001628280-26-067943-index.htm)
- 8-K · filed 2026-09-25 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026063594/0001628280-26-063594-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026054459/0001628280-26-054459-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026054393/0001628280-26-054393-index.htm)
- 8-K · filed 2026-07-13 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026048043/0001628280-26-048043-index.htm)
- 8-K · filed 2026-06-16 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1417663/000162828026043419/0001628280-26-043419-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001417663.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1417663

## Cite

POPS4, Edgar & Edgarette: SANUWAVE Health, Inc. (SNWV) company card, from the company's own SEC filings, accessed 2026-10-29, https://www.pops4.com/boards/company/SNWV. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.