SNWV - Earnings call 1 2023 | SANUWAVE Health, Inc.

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Operator

Greetings, and welcome to the SANUWAVE Health Business Update Conference Call. [Operator Instructions]. It is now my pleasure to introduce your host, Kevin Richardson, Chief Executive Officer. Thank you, sir.

You may begin.

Kevin Richardson

Christine. you, Thank First SANUWAVE's Earnings Call. Welcome Quarter to XXXX the Form night. was with XX-Q filed SEC Thursday The

release issued website earnings the was section. Our was refer presentation. made investor our Please available presentation updated on that our to in Investors this the during morning and

Tim Care the Joining and sales. presentation, will call open After to CFO, the Vice Q&A. Executive on are Toni the our me our President call Rinow, today and Hendricks, of Wound we

may development Actual and contain many with relating to from and uncertainties, any the materially forward-looking involve forward-looking beyond those are of not call are projected as and performance in statements. the forward-looking The Let guarantees cautioned statements statements me any statements forward-looking This risks obligation may to no to plans results company begin such undertakes the differ are for activities. future that results financial forward-looking of control. statements. statements. future update such business which company's Investors ability

With that is off of start. XXXX a positive to the out way,

last which for First issued growth guidance demand systems. and of consumables to first driven to XX% began quarter our XXXX XX% products XX%, mid-teens remains in We quarter our our Demand by on up recorded conference revenue call. compared was robust.

on far supply. outstripping we discussed are issues is demand still our call, we last conference chain As currently working through as supply

to sold and to chain as and through sell track supply way on year. will will we the XXX compares are to is be We will last year, hopefully supply our which not devices receive the work XXX but able we say abate year, balance This over XXX, demand. all we issues to this

relatively had evident crowd. we Wound Care to user Care, we recently. invite-only the six findings the SAWC, presented. new at in a of A Orleans. New participated This Advanced Symposium Wound in Dr. presented UltraMIST clinical posters conferences Johnson, was his demand held in Leaders three of

use the European Dr. Wound two Casino for cases the of at Milan, in various Management our meeting, KOLs, Dr. product. and their Meyer finally, And Associated presented

say with supply new fulfilled This accounts events, these mentioned the interest the when earlier demand we added can safely our From abate. were over pipeline. year will issues be later to XX in purchasing

the number level quarter. chain. Revenue -- continued as continued quarter challenges as for a the into record we continued first of XXXX UltraMIST company in with shipped supply details of grows. despite get XX,XXX of the reached QX Let's achieved history. we growth treatments was the face highest the mid-teens in importantly, adoption as our Units the And the well the

Gross margins refurbished were with increases and servicing get down in more associated of year cost equipment due QX as prior to of our the push compared to part to product out as year-over-year market. the to

higher to of to automation driving our continues pricing and a for chain, have internally, products costs continues host tight pushes execute supply Management focused of on and lower. projects our management of all

plans infrastructure growth. of higher even Operating increased achieve to expenses XXXX audit, grow as the Management continue QX to in head and driver fees, year-over-year, as compared professional QX to year-end focus was particularly leverage down. leveraging increase largest the is The we gain being XXXX. to on operating profitable count existing from though

She our with conclude of the the Rinow Head more slides. walk review to and to will call I to our through it Tim, outlook. near-term speak, numbers. turn me will over of Let back to Sales, Toni the pass me update will Then

Toni?

Toni Rinow

provided XX% million, of same XXXX, Kevin. QX months an guidance to Thank prior. to the March ending line with year the $X.X over X amounted period you, last XX% the increase and for of revenues XX% XX, in

X of XXXX, XXXX. XX% versus for revenue XX% months year-over-year decreased margin QX ended of XX, Gross for reaching the March

increase XX, prior QX XXXX. of XXXX, the is in and Operating months year incurred period. for due expenses to is X-months March general increase an ended X.X% administrative an $X.X versus in This expenses X totaled This million.

decreased revenue, expense shows of and expenses a the However, operating and as percentage this the initiatives. of management effectiveness cost

X-months its and manage year-over-year SANUWAVE financial continues flat remained improve loss profitability to on execute to strategy period. operating Operating expense.

amounted of million versus Total $X.X March current million assets XXXX XX, December as XXXX. of XX, as $X.X

million Cash million totaled additional [ to proceeds May of operations. XXXX, In placement $X.X totaling closed ] March as company support $X.X with private an XX. the receiving

We continued SANUWAVE, and back Kevin? Kevin. I'm support thank of your for you transferring to

Kevin Richardson

Thank you, Toni.

will Smith on be start like Osiris has in pleased to January board. he in call Byram Tim Next experience Scientific. and Boston us on have Tim? and at at years joined the got with from been Healthcare. Tim for & care XX-plus Tim Nephew He early We're the wound firms Hendricks. industry his very

Tim Hendricks

a Thank happy sales this to morning. quite was I'm ago join since It's the Good lead call, when efforts. you, Kevin. my wound share perspective in our come organization I U.S. months and to to I pleasure X and joined asked not

space. you that heightened often we my X in thing to of came that a the you clinical positioned uniquely later great months first by marketplace can that with in reimbursement devices also I are had The prospect the reality see with exciting that possibilities. knew with #X our SANUWAVE but don't is share enthusiasm only reputation I the medical for the I efficacy products is device

devices about or Too all are it's the where me-too commoditized and products marketplace pricing and are products a often, efficacy. in crowded

really positive, Speaking feedback history of unique clinical in long of and multiple strong and a places data punch now a strong very service. UltraMIST in is of particular, reimbursement one-two of that but offers is it

right that now. to a great a to the treat opportunity unique modality. Simple is to the speaks fact with number is our of patients we strong able have meet are great problem This not demand to

to over the will I call Kevin. turn back

Kevin Richardson

Tim. you, Thank

item how guidance supply gating governing is the The those Page XX% currently in will the remainder we in grow Before Q&A, website. go of I from to our growth this rolls for during May And investor that We be anticipate provide on revenue . some XX% and to wanted following along, X June. the on deck to to QX. QX. smoothly

the we is As that demand supply eyes sustainable and have so have The all the our is on issue fix we And mentioned stream and we have 'XX to XXXX. into not earlier, remainder company and in initiatives through been has focused address supply. of issue. issue

report when of a quiet Many same we more have will have be also almost we soon. first time as on the Relations part period the that active the in asked the the Investor of through is period the answer The somewhat But front. begins. year QX QX is been quiet

on regard. over plan communications our clear that with and We quarters the few plan new with investor attend to work next conference Relations some group Investor a

products, demand able We exceeding revenue dedicated to and members passionate, in wonderful supply. have team profitability record We XXXX. achieve far and should growth be

for which [Indiscernible] thank our invested us lives healing is driving who has our saving success. to importantly, in through Finally, meet Shareholders us about to allowed our most have and I want and product mission, ramp employees wounds. the saving

With open I'll that, the call Christine? questions. to

Operator

comes of Instructions] from the investor. line [Operator private Shah, question a Our Sachin first

Unknown Attendee

a have couple of I questions.

that? Congratulations does service. you're expand for in First Can for team. the mean what you joining of that Tim. on exactly? you And have places reimbursement seeing Like multiple good that mentioned

Tim Hendricks

it's of in finding now reimbursement find what experience hospital with care maybe a another XX, the reimbursement based Service device just more reimbursed, and in that importantly, for that of places living quickly is maybe wound reimbursement, from or a my we're XX what chronic facilities, in service, of there's in a where Place different nursing setting. #X strong has So our but in you'll a and for in channel tissue UltraMIST are the wound results reimbursement office, Place mobile and has only the has private it Home inpatient Service of strong Health patients not the Medicare number treating reimbursement injury. growing UltraMIST setting care channels hospital that which and which can but homes our becoming and fastest-growing a home, [Indiscernible] setting, wounds, a Service also they're XX. very because in is deep of But are seeing Place at is had in their that's But practices, assisted do

to and work reasonable service dynamic and see places in X -- channels So have that after. to and the multiple go reimbursement ability is us gives clinically of

Unknown Attendee

a That's Kevin, question. great. just And then for quick you,

combination? And while? a -- you of is anticipate terms it within a that -- that or it for year products UltraMIST facing, it's within that like are are long is it is supply is continue something it going versus should mix the a supply as the -- is is is we constraints like for that dermaPACE that to In certain the -- constraint prolonged, -- going guys be like to

Kevin Richardson

Yes.

that to getting where and happening. we're sure And point it So close not appears we're on us a that have primarily the high-quality was be supply year-long constraints supply line have the out product to basis. time, and abated. has the confident taken there and have We're line where will I get It make weekly and that point consistent worked longer a all thing. of we imagine UltraMIST I'm not It a not it period that getting we was hopefully to around we'll the need produced basis. the producing coming the the yet. kinks can't that comfortable close restart that it to for are a we on of

working that's right issue But the we're now, through.

on the XXX XXX-plus that's for I year, demand for -- what really track we focused the the into is making think year. sure we're full on the meet can for year we're and devices

Unknown Attendee

for projections, optimize? going that at of Or to assume little based this sort And like on your at to to bit quarter, guidance you'll, breakeven next level profitability forward, with a just confidence be the clarify, still some a of, that investors did point? is

Kevin Richardson

growth. No, the we Sachin. back get got goal is no. mean we markets. I going to year It's can't question, to this rely to good our profitable a on

to have that get point. We to

close the is on XX right And the breakeven is mean as gross $X.X our backlog of just have -- there's X once you margins host XX%. product the And customers waiting us I see we're that million and of right demand a us, close there -- is -- that of month, supply for tracking plus And to a slide gets about that. we -- or as now. that's to For about are the level. when now, can we're there Page deck, systems in minus a

be won't issue, constraint it once be into And we so able hop should getting point, to supply we breakeven to and section. the an profitable that have fixed, over that

Unknown Attendee

That's then last one And great. thing.

of due hit that you professional forward? to Is the shouldn't was mentioned had increase going the services. onetime In that cost, anticipate sort a we of terms operating that

Kevin Richardson

address that. We're let still ahead, year-end. I'll Go No, Tony. Tony

Toni Rinow

Yes. address can no worries, Kevin. that, I

a we also -- quarter, assessment on filed and it's like number yes, OTC one of SEC onetime during we got more up So QB the we because got initiatives. back back listed. We had the

and the unique to singular [ of mention events were kind back. we expect of don't So costs and during have to increasing driving going service like operating the to slower would coming compared But this I quarter, overall expenses -- revenue. a some are professional them ] to that also X.XX% been much be

started control So cost our shows the initiatives of that it really effectiveness we year. last

to you, Back Kevin.

Operator

appears comments. this [Operator floor I we like Instructions] the further have management back questions over turn time. at closing no to to It would for

Kevin Richardson

Well, get your you, try website. call. it We'll Christine. first, the have to next participation live in you, We'll Thank Great. this of the the few the for everyone, weeks. for on recording thank also

to relisten you want. you can So it if

day. you, update, and some people some investor next QX. for have hopefully, And we'll see good Thank moving be conferences it at a will forward. . Our

Operator

and gentlemen, teleconference. conclude Ladies does this today's

disconnect a time. this wonderful You participation, day. for may have your and lines you Thank your at

SANUWAVE Health (SNWV) 12 May 232023 Q1 Earnings call transcript