SNWV
SANUWAVE Health, Inc.
NasdaqGMUSDEQUITY
Healthcare
DELAYED
Last price
4.58
▼ 0.32 (6.53%)
MARKET · —
Price
Too many bars for candle bodies at this width — showing high/low range per bar. Zoom in or pick a shorter range.
Open
4.50
Prev close
4.90
Day high
5.07
Day low
4.57
Volume
66.19K
Market cap
$39.66M
P/E (TTM)
5.30
52W range
4.57 – 45.13
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
112.26K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| May 1, 26 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
SELL | 35.58K | $574.24K | Indirect |
| Apr 29, 26 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
SELL | 70.65K | $1.27M | Indirect |
| Apr 21, 26 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
SELL | 16.47K | $336.98K | Indirect |
| Dec 12, 25 | MANCHESTER MANAGEMENT CO L L C Divisional Officer |
SELL | 20.00K | $627.09K | Indirect |
| Dec 10, 25 | MANCHESTER MANAGEMENT CO L L C Affiliated Person |
SELL | 144.81K | $4.45M | Indirect |
| Dec 10, 25 | MANCHESTER MANAGEMENT COMPANY, LLC Beneficial Owner of more than 10% of a Class of Security |
SELL | 144.81K | $4.45M | |
| Oct 6, 25 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
BUY | 1.27K | $51.72K | Indirect |
| Jun 5, 25 | STEGAGNO PETER Chief Operating Officer |
CONVERSION | 1.86K | $31.90K | Direct |
| Jun 5, 25 | STEGAGNO PETER Chief Operating Officer |
SELL | 1.86K | $51.60K | Direct |
| May 15, 25 | CIOANTA IULIAN Chief Technology Officer |
CONVERSION | 3.64K | $57.13K | Direct |
| May 15, 25 | CIOANTA IULIAN Chief Technology Officer |
SELL | 3.64K | $114.99K | Direct |
| Apr 29, 25 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
BUY | 8.00K | $203.88K | Indirect |
| Nov 1, 24 | OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security |
BUY | 27.87K | $438.90K | Indirect |
| Oct 18, 24 | MANCHESTER MANAGEMENT CO L L C Unknown |
BUY | 181.82K | $6.31K | Indirect |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
CIOANTA IULIAN |
Chief Technology Officer | 41 | Conversion of Exercise of derivative security |
MANCHESTER MANAGEMENT CO L L C |
Divisional Officer | — | Sale |
MANCHESTER MANAGEMENT COMPANY, LLC |
Beneficial Owner of more than 10% of a Class of Security | — | Sale |
MILLER IAN D |
Director | 49.32K | Stock Award(Grant) |
OPALEYE MANAGEMENT, INC. |
Beneficial Owner of more than 10% of a Class of Security | — | Sale |
STEGAGNO PETER |
Chief Operating Officer | 2.03K | Conversion of Exercise of derivative security |
STOLARSKI ANTHONY MICHAEL |
Director | 351.79K | Stock Award(Grant) |
TYLER JAMES |
Director | 8.70K | Stock Award(Grant) |
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Trailing performance
Returnvs SPY
1W
-2.74%
-1.4%
1M
-22.13%
-25.9%
3M
-72.88%
-76.0%
6M
-80.99%
-92.1%
YTD
-84.55%
-96.8%
1Y
-88.31%
-108.3%
3Y
—
-74.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$39.66M
Enterprise value$50.99M
Revenue (TTM)$44.02M
Gross profit$33.60M
EBITDA$4.26M
Net income$15.26M
EPS (TTM)$0.87
Free cash flow$-2.83M
Total cash$9.38M
Total debt$20.71M
Book value / share$0.21
Shares outstanding8.60M
Float6.19M
Short % of float9.83%
Dividend yield—
Beta (5Y)1.50
Short interest
Shares short
561.49K
Prior 630.53K
Change vs prior
-10.9%
Shorts covering
% of float
9.83%
Normal
% of shares out
6.53%
Against total outstanding
Days to cover
2.1
Liquid
Float
6.19M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Valuation & profitability ratios
Trailing P/E5.30
Forward P/E-461.00
PEG ratio—
Price / sales—
Price / book21.54
EV / revenue1.16
EV / EBITDA11.96
Gross margin76.33%
Operating margin-2.88%
Profit margin34.66%
Return on equity—
Return on assets5.51%
Debt / equity742.95
Current ratio1.28
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $44.05M | $32.63M | $20.40M | $16.74M | +35.0% |
| Operating revenue | $44.05M | $32.63M | $20.40M | $16.74M | +35.0% |
| Cost of revenue | $10.08M | $8.08M | $6.04M | $4.33M | +24.7% |
| Gross profit | $33.97M | $24.55M | $14.36M | $12.41M | +38.4% |
| Research & development | $1.35M | $673.00K | $579.00K | $567.00K | +101.0% |
| Selling, general & admin | $26.79M | $19.24M | $13.57M | $20.03M | +39.2% |
| Total operating expense | $29.02M | $20.70M | $14.90M | $21.36M | +40.2% |
| Operating income | $4.95M | $3.85M | -$540.00K | -$8.95M | +28.5% |
| Net interest income | -$6.25M | -$13.78M | -$15.62M | -$17.57M | +54.7% |
| Pre-tax income | $11.90M | -$33.06M | -$25.80M | -$10.29M | +136.0% |
| Tax provision | $86.00K | $27.00K | $4.00K | $2.00K | +218.5% |
| Net income | $11.81M | -$33.08M | -$25.81M | -$10.29M | +135.7% |
| Net income to common | $11.81M | -$33.08M | -$25.81M | -$10.29M | +135.7% |
| Basic EPS | 1.38 | -7.03 | -12.19 | -7.50 | +119.6% |
| Diluted EPS | 0.41 | -7.03 | -12.19 | -7.50 | +105.8% |
| EBIT | $18.14M | -$19.28M | -$10.18M | $3.84M | +194.1% |
| EBITDA | $19.43M | -$18.13M | -$9.15M | $4.79M | +207.1% |
| Basic shares | 8.56M | 4.46M | 2.12M | 1.47M | +91.9% |
| Diluted shares | 9.08M | 4.46M | 2.12M | 1.47M | +103.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $11.96M | $10.24M | $1.80M | $1.15M | — | +16.8% |
| Cash & short-term investments | $11.96M | $10.24M | $1.80M | $1.15M | — | +16.8% |
| Accounts receivable | $5.42M | $3.33M | $3.31M | $4.03M | — | +62.9% |
| Inventory | $5.93M | $4.15M | $2.95M | $868.00K | — | +43.0% |
| Total current assets | $24.63M | $18.40M | $9.78M | $6.62M | — | +33.9% |
| Property, plant & equipment | $2.36M | $732.00K | $938.00K | $856.00K | — | +222.7% |
| Goodwill & intangibles | $10.29M | $10.99M | $11.69M | $12.40M | — | -6.4% |
| Total assets | $37.34M | $30.12M | $22.42M | $19.87M | — | +24.0% |
| Total current liabilities | $17.85M | $45.42M | $64.75M | $60.22M | — | -60.7% |
| Current debt | $5.64M | $25.30M | $29.96M | $38.54M | — | -77.7% |
| Long-term debt | $16.32M | — | — | — | $875.00K | — |
| Total debt | $22.97M | $25.80M | $30.45M | $38.98M | — | -11.0% |
| Total liabilities | $35.72M | $45.91M | $65.59M | $60.88M | — | -22.2% |
| Retained earnings | -$242.69M | -$254.50M | -$220.05M | -$194.24M | — | +4.6% |
| Shareholder equity | $1.62M | -$15.79M | -$43.18M | -$41.01M | — | +110.3% |
| Working capital | $6.78M | -$27.03M | -$54.97M | -$53.59M | — | +125.1% |
| Net tangible assets | -$8.67M | -$26.79M | -$54.87M | -$53.41M | — | +67.6% |
| Shares issued | 8.59M | 8.54M | 3.04M | 1.46M | — | +0.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $11.81M | -$33.08M | -$25.81M | -$10.29M | — | +135.7% |
| Depreciation & amortisation | $1.28M | $1.15M | $1.03M | $952.00K | — | +12.1% |
| Stock-based compensation | $4.85M | $1.51M | $0 | — | $0 | +220.3% |
| Change in working capital | -$4.01M | -$1.19M | -$3.61M | -$1.12M | — | -236.8% |
| Operating cash flow | $3.88M | $2.46M | -$4.54M | -$17.17M | — | +57.9% |
| Capital expenditure | -$1.94M | -$490.00K | — | — | -$529.00K | -296.3% |
| Investing cash flow | $3.43M | -$490.00K | $21.00K | $332.00K | — | +800.6% |
| Financing cash flow | -$5.59M | $6.35M | $5.21M | $17.38M | — | -187.9% |
| Free cash flow | $1.93M | $1.97M | -$4.54M | -$17.17M | — | -1.6% |
| End cash position | $11.96M | $10.24M | $1.80M | $1.15M | — | +16.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $9.74M | $9.62M | $13.09M | $11.45M | $10.05M | — | +1.2% |
| Operating revenue | $9.74M | $9.62M | $13.09M | $11.45M | $10.05M | — | +1.2% |
| Cost of revenue | $2.31M | $2.19M | $3.39M | $2.53M | $2.21M | — | +5.8% |
| Gross profit | $7.42M | $7.43M | $9.70M | $8.93M | $7.85M | — | -0.1% |
| Research & development | $628.00K | $660.00K | $606.00K | $345.00K | $194.00K | — | -4.8% |
| Selling, general & admin | $6.83M | $7.65M | $8.19M | $6.89M | $6.04M | — | -10.8% |
| Total operating expense | $7.70M | $8.55M | $9.09M | $7.46M | $6.41M | — | -9.9% |
| Operating income | -$280.00K | -$1.12M | $615.00K | $1.47M | $1.44M | — | +75.1% |
| Net interest income | -$518.00K | -$546.00K | -$798.00K | -$1.72M | -$1.94M | — | +5.1% |
| Pre-tax income | -$676.00K | -$1.44M | $6.20M | $10.32M | $551.00K | — | +53.0% |
| Tax provision | $6.00K | — | — | — | $0 | — | — |
| Net income | -$682.00K | -$1.44M | $6.11M | $10.32M | $551.00K | — | +52.6% |
| Net income to common | -$682.00K | -$1.44M | $6.11M | $10.32M | $551.00K | — | +52.6% |
| Basic EPS | -0.08 | -0.17 | — | 1.20 | 0.06 | -0.72 | +52.9% |
| Diluted EPS | -0.08 | -0.17 | — | 0.46 | -0.04 | -0.72 | +52.9% |
| EBIT | -$158.00K | -$893.00K | $6.99M | $12.05M | $2.49M | — | +82.3% |
| EBITDA | $193.00K | -$581.00K | $7.64M | $12.27M | $2.79M | — | +133.2% |
| Basic shares | 8.60M | 8.59M | — | 8.57M | 8.56M | 8.55M | +0.1% |
| Diluted shares | 8.60M | 8.59M | — | 9.14M | 9.17M | 8.55M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $9.38M | $10.78M | $11.96M | $9.60M | $8.50M | -13.0% |
| Cash & short-term investments | $9.38M | $10.78M | $11.96M | $9.60M | $8.50M | -13.0% |
| Accounts receivable | $5.80M | $6.00M | $5.42M | $4.62M | $3.85M | -3.3% |
| Inventory | $7.07M | $5.90M | $5.93M | $6.81M | $5.91M | +19.8% |
| Total current assets | $23.20M | $23.96M | $24.63M | $22.63M | $20.17M | -3.2% |
| Property, plant & equipment | $3.21M | $2.90M | $2.36M | $2.42M | $2.24M | +10.5% |
| Goodwill & intangibles | $10.15M | $10.18M | $10.29M | $10.46M | $10.64M | -0.3% |
| Total assets | $36.60M | $37.10M | $37.34M | $35.60M | $33.05M | -1.3% |
| Total current liabilities | $18.17M | $18.30M | $17.85M | $19.58M | $46.50M | -0.7% |
| Current debt | $5.60M | $5.58M | $5.64M | $5.63M | $26.77M | +0.3% |
| Long-term debt | $13.58M | $14.98M | $16.32M | $17.73M | — | -9.4% |
| Total debt | $20.71M | $22.16M | $22.97M | $24.45M | $27.96M | -6.6% |
| Total liabilities | $33.82M | $35.26M | $35.72M | $38.53M | $47.82M | -4.1% |
| Retained earnings | -$244.81M | -$244.12M | -$242.69M | -$245.72M | -$256.04M | -0.3% |
| Shareholder equity | $2.79M | $1.84M | $1.62M | -$2.93M | -$14.78M | +51.6% |
| Working capital | $5.03M | $5.65M | $6.78M | $3.06M | -$26.33M | -11.0% |
| Net tangible assets | -$7.36M | -$8.34M | -$8.67M | -$13.39M | -$25.41M | +11.8% |
| Shares issued | 8.59M | 8.59M | 8.59M | 8.58M | 8.57M | 0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$682.00K | -$1.44M | $6.11M | $11.27M | $551.00K | +52.6% |
| Depreciation & amortisation | $351.00K | $312.00K | $649.00K | $61.00K | $299.00K | +12.5% |
| Stock-based compensation | $1.53M | $1.61M | $1.34M | $1.41M | $1.13M | -4.9% |
| Change in working capital | -$1.08M | -$356.00K | $808.00K | -$1.65M | -$1.06M | -204.5% |
| Operating cash flow | $425.00K | $397.00K | $3.32M | $1.08M | $993.00K | +7.1% |
| Capital expenditure | -$447.00K | -$158.00K | -$96.00K | -$525.00K | -$1.16M | -182.9% |
| Investing cash flow | -$448.00K | -$158.00K | $279.00K | $4.47M | -$1.16M | -183.5% |
| Financing cash flow | -$1.38M | -$1.42M | -$1.24M | -$4.45M | $161.00K | +2.8% |
| Free cash flow | -$22.00K | $239.00K | $3.22M | $556.00K | -$166.00K | -109.2% |
| End cash position | $9.38M | $10.78M | $11.96M | $9.60M | $8.50M | -13.0% |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Mar 2026 | -0.14 | — | — |
| Dec 2025 | 0.17 | 0.03 | -82.4% |
| Sep 2025 | 0.32 | 0.46 | +43.8% |
| Jun 2025 | -0.09 | 0.01 | +111.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $0 | — |
| Next quarter | — | — | $0 | — |
| Current year | — | — | $0 | — |
| Next year | — | — | $0 | — |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy0 / 1
Hold0
Sell / Strong sell0 / 0
Held by insiders1.30%
Held by institutions37.36%
Institutions holding69
Price targets, consensus spread, insider and institutional ownership.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 30, 26 | Roth Capital | MAINTAINED | Buy | Buy |
| Sep 3, 25 | Northland Capital Markets | INITIATED | — | Outperform |
| Aug 22, 25 | Roth Capital | MAINTAINED | Buy | Buy |
| Jul 29, 25 | Roth Capital | INITIATED | — | Buy |
| Sep 15, 20 | Lake Street | INITIATED | — | Buy |
Moving averages & technicals
SMA 10
5.07
-9.72% from price
SMA 20
5.61
-17.86% from price
SMA 50
7.91
-41.71% from price
SMA 100
12.41
-63.09% from price
SMA 200
20.01
-76.96% from price
EMA 12
5.23
-12.35% from price
EMA 26
6.18
-25.93% from price
EMA 50
8.16
-43.88% from price
RSI (14)
27.5
Oversold
MACD (12,26,9)
-0.96
Hist 0.11
ATR (14)
0.43
9.29% of price
Realised vol 30D
150.0%
Annualised
Bollinger upper
6.82
20, 2σ
Bollinger lower
4.41
20, 2σ
50 / 200 cross
Death
7.91 vs 20.01
Trend bias
Below 200
-76.96%
Risk profile
Beta vs SPY
1.21
More volatile than market
Correlation to SPY
0.17
Largely independent
Realised vol 30D
150.0%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-89.8%
Peak to trough
Max drawdown 5Y
-89.8%
Peak to trough
ATR 14
0.43
9.29% of price
Beta (reported)
1.50
5Y monthly, from filing
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-06
Corporate Changes & Voting Matters
8-K · 2026-07-13
Corporate Changes & Voting Matters
8-K · 2026-06-16
Corporate Changes & Voting Matters
8-K · 2026-06-15
Specialized Disclosure Report filed pursuant to Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the use of conflict minerals (Rule 13p-1)
SD · 2026-05-29
Periodic Financial Reports
10-Q · 2026-05-12
Proxy Statements
DEF 14A · 2026-04-29
Corporate Changes & Voting Matters
8-K · 2026-04-16
Headlines
SANUWAVE Health Inc (SNWV) (Q2 2026) Earnings Call Highlights: Record Applicator Sales Offset ...
GuruFocus.com · 15d ago
Sanuwave Health Q2 Earnings Call Highlights
MarketBeat · 15d ago
SANUWAVE Health, Inc. Q2 2026 Earnings Call Summary
Moby · 16d ago
Sanuwave Announces Q2 FY2026 Financial Results
GlobeNewswire · 16d ago
Earnings To Watch: SANUWAVE Health Inc (SNWV) Q2 2026 -- GF Value Sees 166% Upside
GuruFocus.com · 16d ago
Sanuwave Will Host a Conference Call on August 7, 2026 at 8:30 AM (ET) to Present Q2 2026 Financial Results
GlobeNewswire · 23d ago
Sanuwave Health's Preliminary Q2 Revenue Tops Revised Guidance
MT Newswires · 40d ago
Sanuwave Health Reports Preliminary Q2 2026 Revenue of $9.6–$9.8 Million, Above High End of Revised Guidance
GlobeNewswire · 40d ago
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