SANUWAVE Health, Inc. Q1 FY2025 earnings call

• Q1 was a strong start with 61% year-on-year growth. Hired new head of sales and worked through Salesforce restructuring. Placed 98 systems, no unusually large orders, and no customer > mid-six percent of revenue. Ended quarter with 1,145 systems in the field, 429 placed in trailing twelve months. - Applicator sales up from Q1 2024, typical pattern with patients delaying treatment in Q1 due to out-of-pocket max reset. - Built up inventory on Ultramist systems and components, stockpiled long lead time components. - Uplist to Nasdaq had a $295,000 listing fee affecting operating profit, EBITDA, and adjusted EBITDA.

For SANUWAVE Health, Inc., in the first quarter of 2025: Systems - Placed 98 new Altamist systems in Q1, a 28% increase from 43 in Q1 2024. Applicators - Sales in Q1 were $5.8 million vs $4.1 million in Q1 2024; applicators constituted 62% of revenues in Q1, within the 55-65% target.

• Guiding to $10 million to $10.7 million in Q2 revenues, 40% to 50% year-on-year growth. - Annual guidance for 2025 remains 47% to 53% as on Q4 call.

• Forward-looking statements involve risks and uncertainties beyond company's control. - Economic and trade conditions could affect financial results. - Current tariff situation may impact cost availability or margins, but production is domestic and benefits from economies of scale.

Q: Can you quantify system placements from smaller and larger customers?

A: It's complicated as grouping large customer groups is tricky; some customers grow rapidly, and time frames for sales vary from a couple days to several months.

Q: Address debt landscape and upcoming conferences?

A: Looking at refi opportunities for debt, no definitive plans yet for conferences but will keep posted.

Q: Market opportunity success segments and patent assertion?

A: No visibility into specific wound types treated; with patent assertion, working with a partner, but specifics are private and out of control.

Q: Insight into evolving sales strategy with new team member?

A: Pursuing engagement with larger customers, focusing on nursing homes, mobile/home health care, doctor's offices, and hospitals, with new sales executive bringing different experience.