SANUWAVE posts record Q4 revenue $10.3M, FY rev $32.6M; guides 47-53% growth in FY2025

SANUWAVE Health, Inc.

Q4 2024 revenue $10.3M (+47% YoY); full year $32.6M (+60% YoY), both all-time records.
Gross margin improved to 77.9% (Q4) and 75.2% (FY); operating income $2.5M (Q4) and $5.4M (FY).
Adjusted EBITDA $3.7M in Q4 (vs $0.7M) and $7.2M for FY (vs -$1.2M), positive cash flow from operations.
Net loss $31.4M for FY driven by derivative liability fair value changes; capital structure simplified.
Guidance: Q1 2025 rev $8.4-9.0M (+45-55%); FY2025 rev $48-50M (+47-53%).

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