Added to YB: 2026-04-09
Pitch date: 2026-04-07
SNWV [bullish]
SANUWAVE Health, Inc.
+2.21%
current return
Author Info
SpruceHill Capital is a value investor with a focus on illiquid small and micro cap stocks. Sign up for the newsletter.
Company Info
SANUWAVE Health, Inc. operates as a medical device company in the United States and internationally. It focuses on the commercialization of regenerative medicines through noninvasive ultrasound or shockwaves to produce a biological response promoting the repair and regeneration of tissue, musculoskeletal, and vascular structures.
Market Cap
$147.0M
Pitch Price
$17.22
Price Target
N/A
Dividend
N/A
EV/EBITDA
20.77
P/E
41.93
EV/Sales
3.59
Sector
Health Care Equipment and Supplies
Category
growth
Sanuwave: Stock is Down 60% While Fundamentals Are Improving
SNWV: CMS slashed skin substitute reimbursements 90-95%, leaving SNWV's 97610 code unchanged—massive tailwind as $10B wound care mkt shifts to UltraMIST. Q4 sold 255 devices (20% of base); mgmt guides 16-25% 2026 growth but likely conservative. 50% incremental margins, $200M NOLs. Trades 15x earnings despite razor-blade model ($35k device, $100 disposable/procedure). CEO owns 11% via fund, $1 salary, rebuilt team from Abiomed (scaled $15M→$500M). Target: double revenue in 1yr as bankruptcies stabilize.
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