SNWV - Earnings call transcript Q1 2018

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Operator

Greetings, and welcome to the SANUWAVE Health, Incorporated First Quarter Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation [Operator Instructions].

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Lisa Sundstrom, Chief Financial Officer. begin. may you you, Thank

Lisa Sundstrom

as Thank you, SANUWAVE provide your in as We update results. XXXX good in today’s morning. well activities, and recent now our appreciate first call. quarter of financial interest most and our SANUWAVE an will

XXXX. on XX, quarterly yesterday, report with SEC XX-Q Form Our filed was the May

site If you call added Relations at or XXX-XXX-XXXX be of SANUWAVE the section Company’s Investor the would to like at our Web go to please distribution www.sanuwave.com. to list,

XX-K described information would of in I this management date contain live risks begin, the Before forward-looking XXXX. call broadcast, SANUWAVE. of obligation revise May is SANUWAVE of caution only that contains the during the to review XX, content forward-looking as conference operations this to the involve We from specific no we accurate undertakes filings with identify comments statements. the Furthermore, made the the time-sensitive of would call conference the reflect update date like actual to this or circumstances conference said, Richardson. Kevin? call. Kevin Commission, factors that that like future Board, regarding Securities that call over the to will results may I and after encourage including or and Company’s With to or turn by to materially of our that XX-Q, of uncertainties statements the our differ and any events events to statements cause which Exchange you Forms results those and without limitation Chairman

Kevin Richardson

out the an quarter initiatives of in March a the Today, XXXX last are joining of call number roll international undertaking success We end dermaPACE as XXXX you you first to we update updated and at progress. Thank for we the ensure our Thanks, on the and everyone U.S. will provide markets. we of Lisa. our on today.

modalities. then to and of team a happen have usage to an Our foot that treatable ulcer, stated, overnight. To goal, indications ability anywhere number in treated has that’s treatment a DFU, these is is execution that’s diabetic the with well U.S. the growth have XXXX. a combine device accomplish established we an plan drive a with as This in won’t other for device underway to goals,

venture through progress with year, following and with progress; about we clinical the KOLs work remainder As be us rollout; brand progress us employees hearing on peer science the advisors working the globally; now and partners the are you’ll U.S. a of joint and through efforts; and various building successful case SANUWAVE. in and additional who new blogs, reimbursement the members; our leadership; conference senior our on level new study working globally, contacts leads and Board visiting partners; on interested attendance, many with including expansion extremely articles reviewed

accelerate to us the I summarize Lisa allow will we steps year. that growth these the of and will then discuss will Today, All are throughout will revenue show undertaking. QX initiatives financials

Lisa? We normal questions. over will the and more had earlier the than you it conferences at turn then provide to time update we to to success various on Q&A answer

Lisa Sundstrom

$XXX,XXX the increase from for XX, in three Revenues months Kevin. March were $XXX,XXX, an you, XXXX. or Thank of ended XXXX period same the XXX%

the operating three on $XXX,XXX XXXX with above. with ended activities at increased compared March loss $X.X discussed by XX, XX, same $XXX,XXX to accrual negative $X.XX expenses Net increase $XXX,XXX, XX, devices clinical period XX, increased activities were applicators. $XXX,XXX, our XXXX. Director, result as a XXXX bonus a loss decreased development of XXX% dermaPACE. months General sales. XXXX months the compared March due XXXX, of were as March March months from due of legal increase payables. and in in same December $X.X time for first work net XX, stock Europe be with to $X.X from a per to On the of ended States share of a operating and in to The and March well expense compared the and and fees slight expenses costs, three an ended XX, $XXX,XXX XXXX to senior ended months and of March for was the administrative an commercialization grant Resources to higher interest hiring XXXX. related XXXX, United due in engineer, and the zero of million. $XX,XXX as travel of XXXX compared used after three was in result Net primarily as fees accounting and and for the the refurbishment given operating for software valuation or devices university ended the for million expenses net bonus period. accrual same as and was higher resulted SEC or XX% expenses approval, States Research the of XXXX, was for the in a the increase increase hiring to use notes increase was the price, prior period. loss in period for the hand FDA $XXX,XXX $X.X increase for we open full recruiting cash from per in The three increased XXXX an of in or and dermaPACE XXXX had for for applicators of prior increase XX, XXXX Research development the and General months XXXX, cash on revenues related of our loss The and obtaining share applicators million performed. higher for of three to orthoPACE higher increased sales the for due warrant or for loss administrative Human in cash filings a $XXX,XXX, Our to for physicians, United expense expenses revenue related a higher operating the sale period primarily related promissory in dermaPACE million net convertible fees consulting and of the the to increase

inflows non-medical infrastructure technology. revenue We current project to plan that dermaPACE, rate in hiring and expand of additional maintain development of to $XXX,XXX from continue be per By and of we continue and to including burn gauge uses approximately operations continue syncing to our we for our $XXX,XXX will market, outflows, our XXXX to manage international to new cash the employees We commercialization rate. as should of hires growth month including and burn prepare be our burn, our research able and upgrades. these use

turn Kevin. to call let the back me Now,

Kevin Richardson

Lisa. Thanks

the to international The expansion the past. can history, have the growth out Since stated have you will earlier, QX year, potentially was with countries, first will should in of discuss mainly by accelerate best year. I And QX to which driven begun we beginning As as quarter planned only growth Company's see, the up throughout shipments up later. we be in in our execute XXX%. continued nine, the plan to I the least laid at six the that on

playbook the by I been we following space. in wound before, has are As successfully others used said this

that So own with twists. path we to our follow plan unique

number relationships channels, work; proper more developing clinical selecting partners KOL extensive that term more driven and focus patients; right in culture tasks in place; know with the practitioners, most financing near in build the developing on continuing developing joint XXXX. equipment well to includes attending like it relationships, to daunting, to the the opinion key having all Our various expand of leaders, venture brand leadership key would manage diabetic ulcers’ these people standard presence; clinical a Brazil; gold several positions; support our and our international driven but study; of more the level adding work partners. needs collaborating the seems board to level; various can experience of wound and we're indications beyond foot science to service hiring of completing extending the conferences to industry care advisor way the meet payors I our the

busy very military we in off successful They beyond. have Premier on and very will many During trade are service, and powerful Premier our rollout that remain track and start. to and partner, a to XXXX shows of Shockwave. quarter, the product shipping locations attending a have hundreds begin been to bases, There visiting they're

On plan doctors being other later vascularization the work U.S. [indiscernible]. These clinical to [Ruckers] since U.S. clinical study wound will The SAWC We with launching our show blood at areas study begins in are initial dermaPACE and that otherwise Alvarez we in Fall the can't will Conference present efforts performed heal in the at the Vegas. study the perfusion internationally. how first DFU Las launching product clinical the and the year this results and without side, flow. their UCLA, Dr.

Having clinical positive published of in work positive conferences to will we those share As will developments these various getting efforts recognition with formatted impacts public. more plan and our and are the of the in widespread reports of poster presented side lead collected clinical for our launched, the conferences FDA clearance XXX The for presented our been Internationally, success. since is beginning we device. of partners since over of critical the positive. the different The seven potential have has at and response XXXX. overwhelmingly equation We’ve customers. leads clinical

two should added they’ll devices We and model, to the of which delivering beginning July Asia Yuma which ’XX. life on conferences on us. timeframe. regards to Southeast be Brazil Italy and into publishing partnership later are of an we With We’re is recurring Middle their they receiving their Canada Canada, The continue of for first in recently yield in award get study. VLU $XXX,XXX. shall the In the north strong over Romania, or in Australia a he in the surprise big half opening orders some XXXX, in year. the XXXX remains attended to beginning The of new a it shipments recent of rental XXXX revenue this and fees we to means to approval this see we new approval deliveries conference science see has Mexico Benelux East signs and as ANVISA region number to track globe. since reaction Mayer all in advisor, shipments June growth. in with and FDA for Perry countries will double-digit countries of and travels the show initial to see anticipate size and and will monthly to and be QX, Two three to be looks partnerships back the begin the revenue.

partners stated two we additional we As XXXX. have Brazil anticipate before, type in

we speaking four, before the call. are and first conference with being one anticipate currently announced host our next We

of ramp confidence As we we pay are bringing from we mentioned the have system the international beginning conferences, Brazil some and and follow-up business. previously, to recent our some Domestically, are on on extreme off. are based traffic process deal, to the larger. and the strategy Regardless, employees smaller in we're than seeing beginning hiring

any Although, discuss we us assembling cannot individuals talented goals reach an of XXXX team and to allow beyond. in extremely to we’re today, the our

understanding with We have engaged in also consultants landscape. reimbursement certain help the the outside and managing the opportunities, to ramp

As those cultivating efforts, have additional we expansion, we’ll make progress additional you involves strategies, It and our focused quarterly in on updated calls. clinical the refine employee effective a In reimbursement and and plan. marketing. short, continued we international research keep hiring initiatives,

needed We’re are educate public. will efforts on effectively all a coordinated XX-year a and This the payers currently. practitioners, are old we take startup fronts, executing the the on the effort marketing and to

five facility. to Before shareholders to today. the thank helped stop see you to said, We is let's Many six the Donna. move of probably beginning on what us want have to by and encourage to back the get and are We headed. where we’re where go of by to we hosted Thank it area you. in stop lastly, investors visited since the Q&A. working I Company I With or Q&A, the those who the year. turn that I’ll and

Operator

of Thank question go Zacks from Our first coming Research. Please you is ahead. Marckx [Operator Brian Instructions] Investment

Brian Marckx

Kevin, can U.S. were many shipped how me in units in tell the QX? you

Kevin Richardson

shipped, There next minimums you’ll the where that there. everything go We’re first of on the two were it the track no three and Premier quarter. over but milestones partnership. they’ll not the outside of going units U.S. That's remains on in to shipped the fourths first the the meeting have was details Shockwave shipments in units primarily certain in years, that the to and year. in U.S. They related see

Brian Marckx

I they terms do Any Have interest. you mentioned insight they're from -- in seeing you of Premier some started know? treating that guess,

Kevin Richardson

know process I I lot now specifically know I on-site they’ve And treating. been out. they’ve deployed. they’re don't of demonstrations. training and a of are being done where in devices on-site the

know rolling I out. So they’re that it

even a going curve roll is that questions to is the Shockwave luckily been domestically, with just for there’s has it’s the important nurses the in are whether it’s internationally One to the to whether are that is around sure of a that treatment Shockwave? and years, do, of a with aspects and that educational who out not an -- whenever the appropriately, that? it, doctors that's on a whatever from have making device we trained new educate we important be of practitioners the that. come and Premier the explaining Premier of has what or what market What patients, device. or really we it So okay, not, lot those but us. the some the actually good VA something is experience It's important for going in also them XX-plus has going use we team and

roll an different out part the that. of We’re we doing into important internationally same as training the countries, thing

provide next insight. call on Premier, give an So more think we’ll I and the probably little update more with a of

of focused I I'm bases of the -- important have, size they it. as of health still confidentiality different and investors So our what people we for partner. that immune opportunity. to hundreds it’ll know But the for can appreciate that on, think agreement understand so lot year, that military has that is opportunities opportunity really I market be a through VA confident And the that's around the move

Brian Marckx

dermaPACE whether the the been when would in use their in might to you’ve wound not maybe when using consider Can talk wound active terms positive conferences pretty KOLs, go may their responses that, talk response them using in of that relate to responses and and consider talk about Kevin, you what you why about is they they it? to and they the you practice. it that to experts, you concerns, doing certainly

Kevin Richardson

Korea, attended we’ve domestically Canada, been So last that three seven conferences the and months, Italy. there’ve over internationally,

FDA been quarter ahead. as pretty as robust us its it's go presenting the So for far products with

gels, it, is first get question looks. mechanism. looking or gels, strange and wound is The little a that And was these People things and and to on or conferences you’ll what used are right? honeys. wrap put dressings And this at you it at

think, it a lot debridement And of is so a people new device.

care is the Many So a a debridement wound how use clean you in people scalpel. wound.

people Some an skin. to away device shear ultrasound use the product

or really Shockwave, what’s with and pretty the of we -- a consumers initial what what again, something so so did to them indeed. question it, this talk educate year is and down And got we our have PACE would to we what And it that is was is ESWT, we part could have what just blog what is we’ve technology well. hand them strategy, is is about last

question. And first a so with done we’ve that good job

you five using about your send The put them be their the to minutes at questions, that when on before use to use it three second and or we and debride after And going I talk it’s it? most your would that, -- you way. nurse it doctor you’d takes it, dressing

specifically it is targeting perfusion. when help something people is what to the letting know, really So we’re that use we’re this can and the

you it's they And and we I so stalled all focus appreciate that’s the can and you three process. we’re wound the to healing only right you using on surprised cables, and progress, are can trying jumpstart very they can, understand out, it a wound that the can on away. And when they’re that And not see wounds they But jumper lead making start really mean minutes. it. oh practitioners

the CPT most reimbursement mean in the rental which what are what that’s of it, people. our and majority do I I plan explain touch. so and people are then And device. code get we three and well, general, saying, it, January a next begin plan game that’s gets And the -- they’re sell this procedure question, and that plan something different in year, I for working models, leads then our the to is have -- and place have placed game of use And I the group, do it, have question tracking we to devices our how can And in X, we with some In In good it’s the billing. been back U.S., is still okay, something described, that models. in we’ve effect is do got markets [AbbVie] number the U.S. and that I the use different people in saying do and to paid. half consulting asked, when you will they how But internationally, with strategy them, with in kind outside they and which reimbursement? that’s it’s want to XXXX that's interested use see so

think use, and with just we be And so some is it big now. how placing to have go adoption how just some usage. curve that headed trained through to educational it get there’s devices driving And where I right different curve going practitioners easy to on going them get a and really by to that's is easy we’re

We the in have fall. starting big push a

call the in and Vegas, We’re as as off in some many. some ones, go, summer they expert there’s in really and in of December. far In then Las Canada, there’s have some some Italy there’re taking fall, aren’t more the conferences driven and just know Europe, I big ones what that I

to have it where the usage So a the we’ll half XXX be up. quickly. or we’ll roll-out a participating pretty that devices by team from on get XXX, driven can back And in support zero to this of going those year then in we’re

Brian Marckx

on ship all are to he well, will well? -- side? some the Dr. conducting be majority the Canada. other year. You Canada, practice that So units that relatively evidence that to it expected I as involvement mean, Mayer be you there’ll will guess the expect is be at some -- or you mentioned to And practice. Is Dr. clinical this what expected -- have his I studies robust Mayer

Kevin Richardson

he wounds close specifically got with what’s wound in Canada. of care So and XX are I somewhere the He’s Dr. lot more him. XX eight Mayer, runs on people they Mayer with mean tune than probably unbelievably nurses going a to in treat between Institute, He day. is with up a that working and great in

whether I’m well. have Canada clinical was start with you what because it location us as Canada be used rolling plan monthly both. I double-digits of I a great getting like both year. restart Mayer, on got the have, bit place and country. or a appealing come use. doing we’re it’s And the exact new and day, type XX a west end a where But for you work, am patients Canada, whenever and and of helps probably in revenue got be case and is us some and We’ve how into format, really do some work east Perry the year. usage brand messaging, country within by in I’ve of some is even to we’ll that’s it’s format So little this exceed like model side to KOLs nice going it a say, drive out, need and involved. for good of really do working has been It recurring work, of to am a practitioner the nice, we incredible, probably really for The think we it him to paper He’ll launch We’ll yes, Canada like though that said, I’m and those some the I’m up could clinical in to expecting in can effective. really always the who finding using I and where poster it a we’ve much geared I professionals, this do out for higher, here device on a that’s rental

Brian Marckx

But it’s side? the the in does I reimbursement in terms so national model of that the health And how system. of Canada, work terms know in payment

Kevin Richardson

device to going the monetization about on rental certain -- how really on they’re So of number get the of over they it’s patient a used. work model,

it into on on for I at that rent device. X,XXX they more get is you're three the to X,XXX, and means operations and I’m what on if your wound, different per over going type doing for the can the it’s to month up of month per number it the that make number a use patient but it’s -- cost currently basis. for it -- going here, paid they’re am again, patients grand treatment call doing they’re here, that’s work going of XXX So And a device. XXX on use a They a what levels dividing depending they’re for

month, affordable this the probably device. that sure we for aggressively up using to But they I at if Canada. be that is make can making shouldn’t probably up once it they’re in mean, we’re device a time, in So only is Canada same it have a a going used.

times We’re like going to multiply Dr. in price Again usage high XX of a day it to of he him good when usage where call Mayer doesn’t the get look a it it patients out I days rates. at is month, lot for penetration take pretty product. a it XX doing

playing the government. this payor to from up U.S., Canada’s to do and Europe, the I beneficial patient to So mean within. have just we practice, is healing the well. the but -- that individually formal that to that’s some needs economic we’re what stuff in not show each there And then in as do we’ll from really market have

driving with that everywhere. things just the and going then they but life are infections, make faster got quality of those can in we’re to goes them faster, faster because they’re to seeing that you we that Canada and we’re present So it’s up. to wounds not less patients reimbursement payor, helping the quantify, sure start because that And are help close so there's happier,

Brian Marckx

for you leasing model per do for charge too the treatment Canada, you just lease? the charge or So in

Kevin Richardson

with on then procedure. higher volumes, to going lower it’s they’re Yes, lower they the all per be cost there’re if I the price charged If they’re going can pay covered volume, opt price. either then in a but there’re the mean, rental, higher to way.

not centers behave same, XX treating it gear So offering a we’re we’re patients that is can really wound that someone who that an the trying we five. so trying and to we to someone is so day to make so it go all have treating who and

Brian Marckx

on the one you potential last think where ones those of partnerships, is, Are world regulatory have that might or then on I approval, the come the areas already line. And dermaPACE not? has in

Kevin Richardson

Yes. Yes, No. and mixed.

the of we’re of So regulatory procedures would the that to, take talking probably one four six months.

The other one areas, probably year. have that then they it’s CE we where to would in approvals. guess, follow probably take, And mix approval I’d shift one, but other a the certain Mark the

So we’re one. that in fine

probably So months probably wait first have going begin to fee going still we to would really to happen us again shipping but pay get upfront the that exclusivity. nine months they’re revenue to before units, that’s the to generating one six

Operator

you. Thank

Our next Investor. question is coming from [Terry Please Thompson], a ahead. Private go

Unidentified Analyst

Is there meeting when? scheduled and stockholders so, if a

Kevin Richardson

meeting, is We don’t the in probably a date to that that at next which together. We’ll set. Board are pick of June. have going pulling our process We in be

my calendars, look to. probably members sure But have attend, people have we’ll they meeting, all we sure And be a give So guess. I’d would that we there. notice shareholder August enough our want September, board or so make to guess make we’ll at have if can everyone’s

Unidentified Analyst

of or you or do And that was so, one so them want definitely outright? on device, sell revenue those lease I basis, both do to either for those like I bring Clarify asked. are strictly what me dermaPACE why a the Company? to the if placed Well,

Kevin Richardson

we certain where refurbishment of the and sell international, have heads. And we’ll device. too. sale. we’ll on applicator will we’ll make sell And on and distributor we’ll little the then device get profit on gross And we there initial sale margin from a Terry, revenue kits the then the the it -- make resell make both wound both refurbishing a our then

those preference on few joint month XX-XX. preferred basis a the depending down to split on a dollars cases, mentioned rates is -- the and per international then device. with somewhere And procedure. I usually the rent rental Brian per thousand earlier, to it’ll a joint volumes, venture procedure Our on profit we in or In join these where either we venture be again really Brazil partners basis,

of supply will there procedure cost our model is internationally. to rent They sell device then it device a out the fee. that buy somewhat per a then that's sale device, they and ones a Premier, get venture, joint charging per where are contractually. also will the fee. the our the joint the Domestically And the with so We venture procedure device or fee. a We're it's either could partner at back procedure per preferred there's a cannot only that controlled,

where As we be fee in that's tracking patient. to roll codes out the move us our treatment, procedure right per a trying towards per And per so U.S., we'll have so model, aimed now.

So we'll be procedure collecting more per fee. of a

Unidentified Analyst

good for you your… to developing, hand with or and funds money have enough are now shape more needing in the continue you anticipate you do expanding And on

Kevin Richardson

benefits when we money of down we up on warrant strategized a when way short raised have was at One that the our back about of have basis. that that the things expire one we term is helped had set we -- we were us they the to down And so rather shareholders super lows. on the

there we're so call warrants their now. and March ones I've I shareholders capital coming least is. million months. XX as these that exploring, listening supportive begin hoping XXXX, million focus be well. And that right about other $X that's fund now, this of warrants, with be announced the to they're we've grow. So of But of been focus to we're that's one that want due our we company warrants would some international come our beginning to. that of before early moving primary who are on $X.X cash and who'd really in warrants now us the have our right that corporate conference the help got And and time talk focus, and us to us, for is due some us what that's into those one to those shareholders have help cash too would two -- we're have on in the based alluded that by main we're we be avenues there's who'll from I'm to, our we'll the and really get talking other warrants. that ones who talking it's as four And a us for to That shareholders we that having mean funding us partners primary could to is deals, professionals exercise be not next forward see the based year, long burn, on might international right really exercising based deals there and to of provide said next is but other at out that potential our plan doesn't the exercising

Unidentified Analyst

No plans on then answer no plans at -- this, no definitive there's for I point? but any this understand dilutions

Kevin Richardson

are warrants accounted the in mean, already for diluted I fully Well, our shares.

of goes So would that well. warrants -- that our execution the that hope would be be primary the

the the then an -- the do exactly Right money how in figure that -- don't in now, an to I shareholders to isn’t think shareholders. best through is interest do if the the offering we interest warrants We best offering, going to down have to have raising willing doing out of shareholders. there

list in we get to make as able think year, this want U.S. reflective year, NASDAQ. the it’s at also we fund reimbursement. and to having placing I back be to when want kind term, some longer to look our as XXXX, for I to But to sure company sure can of as the half we’ll have of devices throughout accelerate up the we top the We profitability. things towards make we code want be line we that the have growth tracking the we of of that we’re

So definitive is after needs no want list. board have there we’ll are answer up if the some well that aware is but certain we to go there point capital at

now, that focused the I so on have we’re And say to right warrants.

international deals. We’re focused these on

year, with throughout partner could explore As some And on finding it we some letting them good work opportunities. get us the things. see think us be you'll and other a I

shareholders. all for way best the find to trying really we’re So

Unidentified Analyst

sounds list NASDAQ up Great, to good. be And superb, forward that sounds to. into look something the that’ll

Kevin Richardson

Yes…

Unidentified Analyst

everything. in I’ve on five-six factor couldn’t months. more I excited, And increased my congratulations last XX the Again, be

am up, you will stockholders your and when meeting. am you fired excited I all I So and schedule I see

Kevin Richardson

Thanks terry, appreciate it.

Unidentified Analyst

Thank you.

Operator

Terwilliger Please Our from Instructions] go coming Paulson is of ahead. question Investment. [Operator James next

James Terwilliger

are for I approval you Shockwave this of should In know I to press six the units drinking where speak. you the give -- bullet one. less an at things Can about, I timing? know so But Premier? about or talk years. over how months, lot of the Premier XXX agreement terms a fire you three you’re point, on. think have from talk you beginning should I think a on regulatory about there’s going had of the You with than me update hose, release, where so agreement, in of you how year you're There’s

Kevin Richardson

They’re They track milestones have throughout everything. and period. certain commitments have that they to with hit on

as ahead quite of and treatment they’re It’s frankly, in what’s going in with initial think doing We’ve they’re at nine modalities. I the training. they’re seen right about healing institutions, at to And getting going the or months want those us health getting and this too. places the It one talk clinical I the just, It's mean then am begins other other viral, fast want devices at having it's I placements. fantastic, getting It’s with like, are It’s other the they’re about other in facilities. twice way, perfusion, us. it other a work. goes as start to It’s say doctor don’t the thing, happen viral to say go increased at And getting to this we’ve seen use I but doctors they where using they're to VA's, which oh to. yes, this similar countries. to there wounds conversations, and talking dermaPACE then my other conferences. they I’ve Premier, -- I

standpoint, the those Hyperbaric negative extremely -- treatment we them. part know system, an we’re economic advanced for better behind cheaper this right it’s so modalities. expensive, the We important extremely the have making is devices because sure are expensive. much wound is the other And and than from initial pressure education training is

the wound quality the and the we’re we’re helping system -- helping with of and helping so coming patients, heal, helping we’re We’re life. we’re the

home the for mean, just the out the that time bases guys, Vas training. the many so benefits to the know we military been make road I literally, there’s sure I the that first they’ve I and don't have practitioners. with mean, Premier to I begin So I get in the we been to now, right think doing But They’ve weeks. one the meeting last been six and conferences for -- think whole they’ve on

think this really them. see we’re all toward end be in So now. really to see kick where kick-off I track placement -- on going with the to minimums of they’re to right I really their going But it's start you're for think the going probably to year that

James Terwilliger

through just last in update on that made year? announcements. release some September the Any I large you Secondly, going of Brazil? the believe opportunity that can am provide you down press of in large I

Kevin Richardson

the our got people year they starting assume this later game the training, and along the great. summer. people big get this regulatory process. had a has been begin inspection been meet six up the with with they’ve We’ll around year to few their communicating in year. I and the Taiwan, plant in shipped is on Europe, through work, moving in approval. sometime the their them. a we’d And mean we ANVISA then symposium in two of later have plan next month got this to other where ramp probably two contact They’re devices modeling advance KOLs for KOL The only to they devices world, getting some other and doctors Pete from December

rate business we’re growth doing track. the in partners XX%. So yet The seeing wound to on up They're folks everything and meeting remains us without close fantastic. their are our

a So adding They’re glad employees, I'm adding they’ve more like fantastic as -- product. they're -- partner. salespeople. They’re been a having we them new picked

with we their process. the making all And they partner. our were hit right regulatory on payments next we’ll time. definitely once year them through get they’re stride And the So

the that’s other guess I So good news.

James Terwilliger

Lastly pushback very you're can different you you unit. a a quickly, question. to looking mean I pricing terms a know customer do fee your terms in this run you is customers your you strategies your way with per of procedure deals, pushback one and very pricing? of unit, from or a tough structure strategies fall three get a of pricing unit, does in when a lot I can less you one. can for these that’s strategies, the But of tough more know sell at those little Do or And I

Kevin Richardson

ago, but three distributors we was, is our question. strategy it. it’s did the great a do And realized it's international is and way world the we only certain daily monthly No, of them a we partners, They’re question, Because some what tough is and basis, different. all like this a on years it renting this selling a are our basis. weekly do this way is markets, in they we market them devices. In every and They’re on tour basis. renting Italy,

treatment they So they’re vest on got so a them at driving around home.

part as trying that's is. work And have international to important flexibility standpoint pushback capital can maintain software oh can strategy or flexibility. control only is from I an that. system our that warranty long think overtime. focused only And I and And that on every And us, where that really new you imagine, maintain do a rent much when equipment, U.S. is on the the we we’re All them do a buy or hardware gotten and for have return basis of and people their so it’s that implant year to over recurring ROI do control to device about, we’re then generating the strategy we’re there they depends devices they’ve I model have. as customer under make And within when device only we what -- imaging, We a a can multiyear In per with as the for something talk and for that we’re for the we last U.S., capital to so want We billing, new procedure. about on getting it’s can that's I over it have they on our consistent. within really been ourselves offer is rental it this, want hundreds They device having whatever remain return upgrades. going that as focused making us could while. it that so is actually we or we again haven’t devices is they of that’s so really the with within percent upgraded consistent a the and that who the sale, capital, period, different of payback way on too. get where that. have long It’s a I they new and so only on it sure consistent doing how what really on, do reimbursement do they know on, we revenue

Operator

Richardson to or comments. any back Instructions] this additional to floor at I’d Mr. you [Operator over closing the for turn time, like

Kevin Richardson

you’re in deal. international throughout another call, new have call. so. we’ll I our be announcements the everyone the stop on later or employees We’ll shareholder about Hopefully by. have next next Again, some But appreciate we’ll on month to the by, a if this year. before area please meeting talking conference making you stop want

patience updating appreciate We’re excited days. to everyone’s our And forward XX again about we’re in you with headed. you. where we’re Thank looking We process.

Operator

participation. Ladies This and conference. gentlemen, thank today’s concludes you your for

You at and may time a your lines day. have disconnect this wonderful

SANUWAVE Health (SNWV) 16 May 182018 Q1 Earnings call transcript