SANUWAVE Health, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:11 pm
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SANUWAVE Health, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 4.68 million compared to USD 3.88 million a year ago. Net loss was USD 7.26 million compared to net income of USD 1.64 million a year ago. Basic loss per share from continuing operations was USD 0.01. Diluted loss per share from continuing operations was USD 0.01.
For the six months, sales was USD 8.45 million compared to USD 7.08 million a year ago. Net loss was USD 20.34 million compared to USD 3.46 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 0.01 a year ago.
Sanuwave Health, Inc. is an ultrasound and shock wave technology company. The Company is a provider of Food and Drug Administration (FDA)-approved wound care products. It is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures. The Company applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and others. Its two primary systems are UltraMIST and PACE. The UltraMIST system provides, through a fluid mist, low-frequency, non-contact, and pain free ultrasound energy deep inside the wound bed that promotes healing from within. The PACE systems use acoustic pressure shockwaves generated by the Company's Pulsed Acoustic Cellular Expression (PACE) technology to converge at precise selected targets to produce an extremely short duration compression burst.