SNWV - Earnings call transcript Q2 2019

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Operator

Good day ladies and gentlemen, and welcome to the SANUWAVE's Second Quarter 2019 Earnings Call. [Operator Instructions] At this time, it is my pleasure to turn the floor over to Lisa Sundstrom. Ma'am, the floor is yours.

Lisa Sundstrom

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

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

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

risks the conference forward-looking like you Before caution that SANUWAVE. involve materially and this Exchange I Commission, XX-Q, statements from the forward-looking during those Company's or may contain will would including XX-K specific of Securities to uncertainties operations identify call begin, to the events Forms that management we described made factors in by our filings results with regarding which cause and and that statements. the differ comments without to and review future actual encourage limitation We results

call only August date information of update content time-sensitive the that reflect contains any the SANUWAVE statements XXXX. conference XX, the accurate is to of circumstances this no to call. undertakes this revise Furthermore, date after or obligation or the of live conference events as of broadcast,

like Kevin our over the turn of the Chairman Board, I call now Richardson. would to Kevin? to

Kevin Richardson

clinicians. mantra call XXXX Thank part and who at we about the policy recent that will all in placements, expected at President, of Placements, you, be SANUWAVE. the placed, the Lisa. our for with today's have certifying we To be we that's placements, giving On It's also Shri Parikh, change are presentation later. NGS. devices training and of to getting end, ahead where the reimbursement

coming revenue of procedural our expected. we ahead accelerating quarters what be ramp in had will the We

everyone it goal spend We placements. most focus organization is important in to SANUWAVE. and in entire of aspect for really placement a because something the know revenue mantra wanted company. to the at that Placements our is resonates that the XXXX just on that throughout moment lead on so I that's

second Let's review quarter. the

The commercialization. roadmap on marks for second progress full quarter our

driven A We the involves and on hit the are have QX placing laid us we by the out We training and today devices. our XXX to and to end having say, is XXX end certifying users year. our by of on excited say, for This track by clinicians to XX plan exceeded XXXX and QX placement placed. end of we puts XXX XX mainly the by of year. device the use are which to to certified track achieve the have for target

is in and would to the least hit devices we have at $XXX are four X,XXX revenue. our goal next We years that in stated that million if generate successful

the and in the great these so the are devices stories this we've will the and And Most placements understand for are initial beginning great than getting are we has These XXX that great I and call, results more, that clinicians quite he patients the these felt and seeing the next. seeing goal far. We results counts later. they're they're revenue treating now to which that these wreck getting investors treating back that be we quarter are train generated but patients patient frankly better important results. is seen every results. year see was amazing won't Shri are treated discuss from but – it as head they discuss expected. towards the providing field, will happening important are on first, over in for to we're patients we We're and what

our who in will placement get as partner and be aggressive our To with more XXXX and about, achieve we all worked talking are leasing they XXXX ramp this growth we've that for with Financial place we're into model. our NFS

articles review out published to During with the peer it or clinician’s and second we clinical publications. enter develop we allowed in had These to how articles the offices. stand continue along distinguished quarter SANUWAVE research, we two

They to be today criteria the jury inclusion they Many the to studies a tend make aren't good, loved ulcer compliant. fact to but foot results exact. that they are XXX have life with that patients, we rig, they wound smoke, study they diabetic real and look their and do performed life that exclusion real-world sure in real patients, overweight

our patients clinical peer So results and articles us first will world there in improve what and step research us and outcomes out stand this the reflects real our review usage study. are in door. study are XXX the allows to keep and Patient This getting the with rates.

a Also, we're us. the referrals word using clinicians mouth that to of beginning from are lot of get coming to us

plan continue in the place for leverage research Our approvals. and and invest add broader to indications is to

dermaPACE for guarantee news path National at NGS, change a is it Services, Medicare. front. This to easier, we to biggest long accepted, it an we reimbursement appeal the coverage be submit is on policy The Government claim, announced in we a potentially go-through a reimbursement extremely allow change not really with Yesterday, XX category reimbursement. to denied a clearer states. comfortable before receive policy in feel The be laborious for will that's are where then moves be would claim how approaching a will but process. up The process

adding and claim that commission this region. are a in additional a this under determined strong based clinician in a NGS DFU than is be managers have be they submits likely a to when this that Since support protocol, very on to we use care clinical – we standard necessity. of when clinical change change way It each better approved. sales have The to heal a to statistically allows we're individual shows due

growing from We this Pennsylvania. does won't or expect That Carolina of area Texas procedures come mean the mix to QX XXXX. in be our and in a we not or

in today. quickly. The we more to fact, claims placements change processed seeing to allows already in us areas In revenue are those moving accelerate reimbursement

an in evaluation. days XX spend would placements initial Our

and revenue recognition go-forward move means which a eliminating today, on as change earlier we moving phase the we to basis. With that forward, evaluation contracts are straight

larger QX we of percentage revenue will to from come the revenue procedures. expect During will then we our initial begin and a in procedures see from QX

remember we Our average $XXX to refine XXXX, throughout to than procedures, we'll It's $XXX expected. lead between as of standpoint placements strong just allow with and procedure. being faster go incremental still procedures break lead the expectation them out remainder worked to and also should revenue. but get out are This even originally will margins. we highly per to recurring us a These is

even provide break We expect before to the of guidance year. on the end

exclusive it was to than due below payments year second of payments. was exclusive $XXX,XXX higher XXXX. license were revenue – The timing license in last In quarter XXXX,

and fees before, have we procedural be least do mentioned a third one in will have We XX revenue over already I've played tend but to to which exist. up we positive the or of quarter, at we the – continue context. two exclusivity As and Until and placed these lumpy. have to get lumpiness stream expect devices will international fees end already orders the before in year exclusivity shipping lumpiness, cause running,

to XXXX turn out, and six one have with first I be the but wish we minute, over pronouncements. then we'll a Q&A. will smooth and I will to accounting under could goals and discussing recognized spend they Lisa – for can't, months, then they our conclude accomplishments I it certain our to them for happen Shri

for on repeat on to patients treatment. forward. I earlier, we XXXX, And At the for goals certified, and XXX Over least track pay we're track devices clinicians mentioned XXX our placed, insurance lives for will well are $X XX million million, that are we're which there. NGS on that's covered as that. so with way Our those

goal Add of that's three to address Shri half in four personnel additional targeting an currently. clinical science ongoing exceed advisors will we're trials, Our coming function, to the already. new that second number. launch to we the and started people countries, is that will three the and some two key we've that's Add

placed have well over and achieving provide we achieve million are way all past, to plan X,XXX devices in discussed that, on in over everywhere well that We grand is successful our in are in If anywhere which the years. part these a four next device we treated. DFU and is is a the goals our will we revenue have of $XXX which to

also other other indications other this timeline, companies for need investor our in treating with wound so with treatment along we we a to it in work we with the and wounds add presentation will milestones measure shareholders how conjunction on time, are progressing way. the modalities. out Over We've on can achieve laid

some our President, discussion some financials. Parikh, will Shri will by share about from followed to who will review over Lisa, the it more conclude with who I And field insights then Shri? turn XXXX. me Let

Shri Parikh

hiring to explain and why as from. clinicians to to opportunity for all moment seeking hearing of share scale call. travels are Good with a from take and and applicants and patients. QX morning this and take markets prepare where learned share and to in everyone, we're we quality efforts the you Thank I'd specific I'll you, focused and the in what also our Kevin. discussions customers, joining we're my like our we've we thank where

the As feedback technology and remains astounding. Kevin shared, our from dermaPACE treatment

therapy the feel best was and for and Hyperbarics, results. during for Everything negative learning North patient's expected a was and Our that this the to pressure a to Perhaps skin to year. amputation. recent of visit continue treated attempted and team patients example wound vascular than a better the of recommended DFU patient clinicians over see Carolina from substitutes ultimately surgical was

needing podiatrists nursing vascularization having healed dermaPACE to and was experiencing to here very avert device healing our amputation. of leg in we seven placed and She well, an patient customers initiated that recently treatment. facility our and home skilled a have after one with whom The responded weeks it delaying enough her was and lose began

all to which patient patients we This recently a on years. recent data, profoundly statistic. not amputated had this mortality the rate shared thankfully did at surrender in this Given our to newsletter, path, published was but unfortunate have five well XX% in

and not if her being compelling, die the have her that with unfortunate years would of XX% likely within is into that patient dermaPACE lose to would probability, treatment, entered procedure. following pool likelihood she a amputation five leg This a had almost this

Here early those wreck we of or example. at commercialization in patients wave shared SANUWAVE, targeting to our heal believe as train that to continue still the hard is

faster outcomes. to is remains development encouraging the What better treat DFU expect and patients process, we we earlier begin in

this treatment necessity we are of certify patient opportunities managers can selection more are to in contracting on medical selection, clinical these as from as claim, and NGS, and we committed recent states treatment our clinicians dermaPACE improved so with Our Class favorable engagement and focus. markets sales well approving increased with such and III with support developments, in our support as with this the account hiring patient guidance educating with train claims and XX teams

DFU successfully and submitted and increasing our remains are recovery treated, positive highest volumes focus. reimbursement patient As activity claims

the and continued with group documentation. or increasing for reimbursement while claims the clinical process we confident TRG, supporting partnership outcomes Our with are we’ll demonstrated assist submissions,

and So to deserve the becomes accentuate data goal accelerate increasingly the payment clear.

terms resumes seeing, In we're we're quality of candidate and pool, simply humbled. the

small Yes, in clinical relatively is seeing company, moment, care from but the wound market high yet the medical larger candidates strong quality and markets. and from a of opportunistic strong performance, for and at interest growing device job security many with with and us, sales for areas the high companies other years candidates we're

the to Given NGS scheduled into We're the last our shared looking and and adding interviews months we our in week many forward to weeks, to coming have newsletter candidate this as QX. team week. we focus and our early recent on listed coming markets, later

As who history was way appreciate have our the particularly we you of we any from market our journey, certainly we from value then so candidates quality always, you, focused. referrals sending

to it Lisa. turn Thank I'll you, back again. you

Lisa Sundstrom

for Revenues the the or of Shri. were a from prior second year. of XXX,XXX you, Thank XX% decrease quarter XXXX XXX,XXX

States Our in the in decrease new as orthoPACE in partially Europe decrease applicators, devices and This sales applicators. for higher Pacific The primarily Kevin sales related by is fees and upfront is sales and revenues of lower United United Community mentioned. device from States. international refurbished dermaPACE of our and in distribution the primarily offset European in to revenue Asia due resulted applicators and over the sales a in XXXX

selling increase The Research related employees second XXXX of to the from and for and This and related temporary commercialization partially XXX,XXX quarter offset in X%. we was development and our due and Selling study a to increased increase expenses marketing XXX,XXX, an Poland. increase and salespeople in have development in a to expenses as for dosage general quarter traveling reclassification decrease expenses or development XXXX. to and training due research of expenses to or XXXX related is and new the of contracting for study This increased in expenses discussed. placement was marketing were and costs research in increase an XXX%. of of dermaPACE XXX,XXX, in decrease for second of services hire trainers and administrative XXXX XX,XXX was the expenses by of in

issued is in and and expenses expense – were to General decrease in XXXX, partially administrative related new XXXX to to XXXX bonus X.X second in in due related salary, increase administrative agreements general by of devices This related lower options to million, for an a investor XX%. of stock-based expense a lease XXX,XXX quarter the in decrease The was pay-off lease and compensation decrease benefits offset or hires relation expenses for costs. in XXXX. and an

or June share, $X.XX per $X.X share, loss period basic XXXX, XXX XXX,XXX for net three Net basic diluted a same or months the net $X.XX million and to decrease loss or for compared per loss a $X.X X%. XX, of XXXX of diluted was the and in million the in ended –

As XXst, the the increased Net increase use cash XXXX. second of for cash cash expenses XXXX. hand quarter in used XXX,XXX, X.X we inventory payroll in million The on XXth, of had the million operating to for same and due activities operating compared at and related of increase compared June was in was activities X.X operating and period expenses accrued XXXX, primarily XXX,XXX for in XXXX. with prepaid to of December by XXXX,

our protect research development will month continue XXX,XXX and launch employees, operations hiring non-medical we including continue the expand of per XXXX of uses commercialization our of approximately from to of We be as rate to burn XXX,XXX dermaPACE and international the to continue market technologies. in new

the Now to call me Kevin? back Kevin. let turn

Kevin Richardson

Thanks, Lisa.

to as team our one conclude Q&A, want the as thought, save are get a that our it's just which and with the dermaPACE device, possible. devices we're marketplace. which is they gaining benefits addictive to a dermaPACE as see final out driven in as possible from possible seeing many the momentum if we to that, really within Before turn to community is you're wound do leave of get And is we lives I talking to that see is it as I'll the many trade can't by buzz shows vision, with foot as the it's to care as it’s at many suffering ulcers, an as as if we save diabetic from investor, really limbs – you real something the lot and the System, out it because the out but happening. that and you're people just who

some over into let and with Q&A it to that, questions. me can So turn dive we

Operator

state and Thank question you. from questions. Okay, from now is first comes The for floor Brian [Operator open Instructions] Marckx Investment. Zacks Please question. our your

Brian Marckx

on the progress Hey Kevin. code Congrats all particular. and the reimbursement in on

you how consistent change, – descriptor the say sure integumentary, change? things uses just code wanted to specifics code, way with of that terms around NGS the would the in the Just for with that’s of that of any code make details what word the reimbursement And the the like, know clinicians way if And your wondering more I but. if use don’t that descriptor DFUs. device can your is provide you the the prompted it, the

Kevin Richardson

Brian. Thanks Sure.

process. that's the the A and getting plans study getting articles them with a – review field. has out, reimbursement presentations engage, lot involves are and the also in getting on out while working are years, it's team that been groups, the and we that feedback policy we've panels from front some some different our then of So the of strategies made that for consultants of a peer over

important get So that clinicians powerful it's is. how strong really talking we about and device the

that buzz, it’d market. working within some the communities, be but had us to had we consultants have that with to a that to the to begins feeling want our relates appreciate I get coming methodical of within good and It – don't those to CMS had, approach more So say favorable it NGS. specifically background get for probably

companies standard, wound over tried the most lot double-blinded necessarily treat scrupulous necessarily our frankly, in jury-rigged and care smokers, we that’s the mean, XX. honest again, space. different of want quite we exclude they then and to today is it the the what the I I of and get-go littered to clinical exclude did real done spaces and have that that's code. from lot as over can we’re a about it's on not work hop And of kind made how A they're I done things to what's not going as we whatever, with think world. highest that earlier willy-nilly – mentioned very BMIs And I And when A real we've just appreciated. not say world. the done study, – XX, don't be studies it's to

we're protocols you So in then and as we're ulcer level diabetic grade foot have and we're what from that's – we're it that move NGS. of next. well category scale the long from one is kind a with to And a it that's how necessity remember code as the following the there to so, something, a falls And foot it as seeing graded. a should which that for within treatments coding And is and then it right very standpoint. of we little way, what background ulcer moved our when have the we diabetic to cleared

we're – it. on really what how And focused so that's we're

on going different medical time community that it's a working a associations for question, behind the and clinician hope the consultants. of and lot really been about that's I scenes with mean, answers I and work the Brian. And the the long

Brian Marckx

that. I Kevin, great. appreciate That's Yes.

amount is payment the that assume with on associated it. there code I itself, a So

If case. “enough” assuming an standpoint? that's you it I'm is economic could that, verify, adoption the utilization physicians and that to just encourage And is from the by enough adoption case,

Kevin Richardson

$X the it's That's clinicians aren't Yes. cleared an the it great device, if FDA it. not going million it, But actually great that any use And it's question, so right? to they're going to that we isn't have make money, works.

get number the go Medicare number talk And kind in right? of, doctors, now the right the when usually XXXXX[ph]. is question three that's to to we So one we

they will they'll so claim, they will And wound on clinic the when – Medicare what a their that's XXXXX, claim. receive receive, submit

we'll of foot in on remember the other you – they well range. that a will of a this nice And think XXX it's of population, is blended to ulcer have the when that's usually what amount side, commercial master higher receiving with of And diabetic that pay insurers XXX claims in are the something XX% per the be occur range average about are about on wound – that. and and rate population which is blended take XX% a and leaves X multiple for also to be commercial the as somewhere a We there'll procedure, XX% get charge the where we're clinic. Medicare than you

problem get we're all. it, used don't once they going the We're we we're purchasing economics which have don't definitely usage, that And patient on – lot placing device, to nice so usage see making it. minimum a really they I at pretty using of think dramatically we're be device, increased the Remember they're seeing a to I a not for there, placing they're requirements it them. when

can per good got this the a place that now you we've of, while. sets time, procedure model a We've got on it but collect to in we for it's us we're that taken think that XXXXX X XXX so economic long been now out, as working ourselves. pretty of figured I So know kind kind we a

Brian Marckx

– don’t want I think And Okay. I that’s… to

Kevin Richardson

He – you payer, look I happy and with get I you XP, physician hyperbaric doesn't to right? boot and minute is Yes, for not minute treated five And in patient we've make it happy need dunk have it getting a mean the that the because to day is to a where the the happy, talked he's a tank XX because wear at amputated likes the patient, and because, about a we're every versus if the going like he procedure vac. hyperbaric that it's he's month. a a constituencies always quick

reimbursement because use his getting based So the from The doesn't the lot straight they’re is it's model. chunk time and of forward. a he it of likes likes of – it's compliant take ease change patient paid pretty and a it this doctor good it because on

going because And the is the dermaPACE important of accepted wound we're cost reducing be we why think the can closed overall part get of quickly faster that, wound other so care the we're we to System. using

we're aid negative would the And so cost to treatments, where vac close same the in room for coming below for a with be pressure.

session $XXX there's are to those takes usually substitute, it surgeries you hyperbaric for multiple For close. really skin so of per XX wound to kind the can expensive are $X and those math, a do sessions, and get

when So spot we're payers especially a you money, helping where we're valuable return doctors patients found the at it. we're a which – like helping their time, and the sweet look save the is most and asset on think money, make I

forward. net-net, So how pretty feel we've – positioned going good ourselves we're about we

Brian Marckx

it's the think Yes, an that's too on and not in I time it's but a important or this on Kevin. subject great, general, subject to much Q&A major particular announcement. take And

a to get specifics. trying on bit the detail just little So more

used really things other One or it be attractive viewpoint invasive, about an so as of after not be can with dermaPACE is treatments. it that can from used the it's my adjourned,

code they is, So for this. and for they get paid skin in then that and that the then apply apply does use can I and they and get reimbursed not of dermaPACE context that still substitute with skin the can whatever, assume reimbursement, that, the whatever NGS can – substitute

Kevin Richardson

ready getting well, been is contacted we're companies be first the to using maybe it’s the Hyperbaric this space. of before skin that few the are XXXX, combination by in some yes, over revenues envision, the with be the to that different It skin doing players on it under other that led announce months. from has companies doctor what them a do some that from the skin Wisconsin, have And who about suffice be ancillary of to talking not with to that not in there'll But that not who going studies. up put number previously. to the there with you is do are substitute. substitute they projects sub name I standpoint order, but going reimbursement launched lots in that say Yes. a next on might to us, to – something all therapy in it we've prevent lot But we're to dermaPACE a combinations Brian we getting as could And pressure wants one in a of thing. are is Texas same yes, wants group the in big were

product out, type and that dermaPACE, that just once the our as promoting won't sales and sales an our therapies and companies is with adjunctive clinic. you can them. wound the can roll tool will the that in force, a that's other we show clinical combination for support do we're bang the bigger that, And that's So that additive where we therapy other work be right get sales to with work skin these force, about can when it a force again, the be are the Hyperbaric we and do of that to talking buck, to story Brian, substitute we have it

can extremely is be that yes, too, to which a winded there billing was important answer – of not partnership of strategic that they there. are out but long but with keep working is that a competitively in So that's lot a the companies element

Brian Marckx

do in there resources you then initial your in covered states not by that the Okay, about great. you think remarks one, XX talked that from the prepared I still you is territories moving and you last so, now right? that will will calls that target or One of anticipate NGS, couple be you these said last

Kevin Richardson

Duke Texas Basketball – going – doing York one not they the at the is really agile. stuff guys Carolinas a their and going We're I plane go to I call SEC our to company, so going to were centers. be up anywhere right? mass his or from or we're it wherever But to to it or Yes, New the we're in not what and at it all ready on we week team and And general very nimble we're stop with that's hop Shri last to a if an the get out think be, going placement talking needs mean, was do great team we're Pennsylvania. in to need small have on help I from team willing is everywhere to get of And to is and tour, Wake it certified. device not fortunate, a be the that, so does placed and – we're trained and the we’re stop UNC, and medical installation –

and quality these kind XM, Integra, get thing. resumes they names of see are as we of the the Shri KCIs, from all that salespeople right want these And of be Nephew, us until are big next there, the people, we’re high to as the seeing and all it. So mentioned Smith part some

and right to to going the the we're on going hire meantime; it Texas right We'll people. So, Pennsylvania. focus Carolinas, the made in way, implement inroads we've lose the we're in but the not

Brian Marckx

And All right, Thanks. Thanks, congrats. great. Kevin.

Kevin Richardson

Thanks.

Operator

Thank you.

Our question. your Terry Please next Thompson. question comes state from

Unidentified Analyst

Hi, Kevin.

Kevin Richardson

Terry. Hey,

Unidentified Analyst

in of at I'm realized wondered looking dermaPACE the problems using wondering is I can this that the than any might diabetic have background? from applications a the foot stupid treatments a that’s ulcer, layman the treatment I but much, concentration right This now, if other other other in company is maybe medical alignment. question, that but to seems something much me as give me it wider is you

Kevin Richardson

to foot I we're population, and diabetic on really for us. is of that I us opportunity mean, cleared region. the $X if and math, is ulcers market Yes, a of U.S., advanced foot The the diabetic territory from MACs the the massive Terry, for for do sure. XX look in just a IGS, that's for, ulcers the go focus billion of after. Medicare in it's just which us NGS what territories kind so that's one run the That's one market at NGS

big a it's opportunity got we've to So right and stay focused now.

in other and about the – there it just a but clinicians. to we're not space of the is wound evidence does going that add, willy-nilly, say, following behind year, really plan that. an sure, the like this oh And work. the Absolutely, and the to and with then We're yes, had going indication clinical articles right make in read support clinical our it's there's do do can Are it discipline support indications? to really front they it get always review think can game out studies we've peer our that

to wound have years. With with we'll the that about about of areas we don't into neuropathy. with Things in clinicians wound can in of next the folks the and goal non-wound beyond talks them, wound which we've like distract like ourselves benefits benefits inflammatory care they're are get back things to we few partnership coming but are from above next different just sure to we concentration, to the the seeing the and other the regard are devices care and treatment response space is There ancillary had placed talk four over right so about some now, talking that and make that getting are months, us X,XXX healing.

or the case to clinical have they just forward, but disciplined for we'll opportunities decide well. that for as Terry. make if study clinical quick a necessary we're but these us study have work a us, which have us that sure behind, asking a the doctors areas us move as These done can run We in are us. it big ones we not And approaching we on priority doing fashion, have highest also are we market for

Unidentified Analyst

Well sense. down that always down the important, curious, was makes but looking is Focus I the road… further

Kevin Richardson

verticals, the other to from very focused of we with really near-term, but and focused but us. now stay right on now, chase are a many I have us maybe stay we get the can to talking we wound be so There easily it's I butterflies, care. distracted Terry. we'll to platform, be have think front successful have a about what lot of on And go opportunities very for year in in

Unidentified Analyst

call of sense to down hope one and meet these to That your [indiscernible]. perfect Thank days for you you get Georgia and face-to-face. makes

Kevin Richardson

Thanks Terry. Appreciate it.

Operator

you. Thank

I'm question Our Tri I Wilber[ph] state your please sorry Terrell. comes from this question. next James mispronounced if

Unidentified Analyst

you. Kevin, me?. enough. Good Thank can you hear

Kevin Richardson

you, can hear I Mr. Wilber. Tri

Unidentified Analyst

the did I've certified? questions, to heard who feel the quick of the three, know, remind first getting machine a does of way. getting process of What's on really lady the worse, that again, I the Congratulations one in me the what what's reimbursements. Couple clinician is, bad placed? any process don’t

Kevin Richardson

volume, we've data go, on right and there to about is the but patients done again there's talked conference where are identifying at, where available. is So we've so our past diabetic we've ulcer looked call, what foot enough

them them the of we it So where some references, we we them crunch the and lot data and into showing study, support building about target, a kind them, the then a to placed. And out chosen to our papers clinical giving once of to approach target. get device, figure showing we've talking go

training turning the questions. our account basics in to out, who have certified, to on placed, it managers it that the answering by clinical show and putting hopefully lot do deliver to training the office can managers. of our Once they few gels then a reps And and it's sleeve, it's will them. the people on from involves of account sterile need sales get And one clinical the we the they

it see the manager of perform lot answer has patient. right questions and them, account clinical with the So a to way

that's how the tracking the the top process. we hoping kind single use We'll soon on a it. monitor I'm of next beta certification that's that's it. month wounds to we that up a we really so And on daily on we follow will now. monthly be a stay every approved so that on of be to then basis. in treating we're real-time patient but still I format they right or so in mean, we're able And certify basis, rolling a are then something out basis, And of that lot

days that we to nurses XX, past does we've work what evaluate would how realized our and had workflow, contract. XX sit to XX, days XX would with it And it for work can in the James. and and contract does the it. need the we How office, that XX, faster, they don't is In move then there then go – XX, they

procedural nuance probably one in So release, that's to which changes, we is today, our of a that we're, press bigger moving can that faster in the our means revenue. to then talk we're going accept be contracted,

fee. that evaluator we've And the Again, very So quickly. being out we'll field, it, move collect get, something we've they in we'll that's can we learned. phase use the from that learned whenever that

Unidentified Analyst

Okay, many great. the machines tough have the XX are How this really done thinking a you've many in, My machines you patients? prior get I'm this second treating of know how process to you you for patients, are six but when I'm states to might and then sure I states machines because placed. of just you running? make those question reimbursement. and are focus And got – one, XXX this be of is, XX about the correctly. how XX many say up XXX trying the

Kevin Richardson

second got we've train would quarter, XX it's last lot the the the over weeks. in so of in X,XXX the few so six to, been we've over, say treating we're got Yes, I of I I a treatments think our wrecks. think

down treating Dr. each probably to, have Sanchez from, XX two up got one XX, San we she's Antonio, So are running. she's up doing and or currently. got we've about anywhere And of one those patients in

market. And depends so it on the

number as get QX, we into that it's dramatically update We'll but higher.

on focusing As we're wreck that but through again, engagement we've quarter diabetic now patients. the just on foot ulcer not there train it's gone a the and that

this especially earlier going really but I little usage, didn't the of they a cycle with before the kind a think were and toy, reimbursement accelerate So whereas that's James, change, new to in playing with they it for a little a weren't them that get they aggressively. for incentive to it more paid getting for it. for to they're going And use they pay it, there's to different now paid and know have

Unidentified Analyst

Okay, great. And again, congrats on the reimbursement announcement.

update the contracts? on me can Lastly, and the Indian Health VA you

Kevin Richardson

I like areas the has focus a them and at Premier, in presented for go with opening up more said, to on model to their that different comfortable Sure. they as with get around. purchase proposing. to and I'll think difficult With the Indian little the we're They equipment get they we're arms been Indians and serving, that VA's revenue procedure getting With per VA. Health through closer rural where XX model the are the that

Indian very Premier over per capital there the the a they've next have it's really a Indian not equipment bunch I – guys got XX They've year. installs. probably in five will are in but the procedures, contracts end stages, various around it's strong, penetrating scheduled Health the done in got And basis, they're rural Health, the by like be a a Indian but seeing procedures or job – pipeline markets. And market. XX revenue those signed is systems that they procedure that purchase, of somewhere not good markets in Health know generated by of

And of dermaPACE and Brian at a key Premier, he called to Country market lot our to about Diabetes City. touted new a so how and the on us presented it it drove is product was truly, Oklahoma leaders, They in product, conference, talked the best the in Lepo[ph] opinion the Indian one traffic. unbeknownst recently of unbeknownst it conference actually was

seeing probably lot we'll half and a think where it of open work of the or it's they'll see just on flow through. Health year. this year that And Indian side we're bottleneck I early VA, back up So next a

Unidentified Analyst

for jump Thanks I'll in queue. taking great. questions. back my Okay,

Kevin Richardson

Thanks, James.

Shri Parikh

James. Thanks,

Operator

Thank last I'll Kevin appears now our for closing floor to remarks. turn over be the question. back That you. to

Kevin Richardson

we'll appreciate with Great. to the the of us Thank third we first long support provided that in it really we've as and quarter we you all fourth the very becoming as get much the quarter see and the that Shareholders, into in revenue ramp to for, we begin everyone. you've go it XXXX. apparent closer been waiting

you And very line. Have any call on please questions, as to thank if So day. always, a you feel us much. Thank any good have of much. the you free very

SANUWAVE Health (SNWV) 15 Aug 192019 Q2 Earnings call transcript