Q2 2024 SANUWAVE Health Inc Earnings Call Transcript
Key Points
- SANUWAVE Health Inc (SNWV) achieved the highest quarterly revenue in company history for Q2 2024.
- Revenue growth of 53% year-on-year, totaling $7.2 million for Q2 2024.
- Gross margins stabilized at 73%, despite additional costs from new contract manufacturers.
- Net income for Q2 2024 was $6.6 million, a significant improvement from a net loss of $7.3 million in Q2 2023.
- Adjusted EBITDA improved to $1.5 million from $171,000 in the same period last year.
- Operating expenses increased by $706,000 year-on-year, totaling $3.2 million for Q2 2024.
- Termination of the merger with SEPA due to the inability to acquire a national securities exchange listing.
- Current assets decreased to $8.7 million as of June 30, 2024, from $9.8 million as of December 31, 2023.
- Cash and cash equivalents dropped to $2.5 million as of June 30, 2024.
- The company is planning a reverse stock split, which can be perceived negatively by investors.
Good day, everyone, and welcome to SANUWAVE announces highest quarterly revenue in company history Q2 2024 Results. (Operator Instructions). Later you will have the opportunity to ask questions during the question-and-answer session. (Operator Instructions). Please note that this call may be recorded. (Operator Instructions)
It is now my pleasure to turn the conference over to Morgan Frank, CEO.
Welcome to SANUWAVE's Second Quarter 2024 Earnings Call. As many of you probably noticed, our Form 10-Q was filed with the SEC Monday night. Our earnings release was issued this morning and our updated presentation is made available on the website in our Investors section. Please refer to that during this presentation. Joining me on the call is Peter Sorensen, our CFO. And after the call, we will open up for Q&A.
So before we get going, let me go through the obligatory forward-looking statements disclaimer. This call may contain forward-looking statements such as
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