SNWV - Earnings call 2 2023 | SANUWAVE Health, Inc.

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Operator

Greetings, and welcome to the SANUWAVE Health Second Quarter 2023 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Morgan Frank, CEO. Thank you, Morgan.

You may begin.

Morgan Frank

Paul. Thanks, to SANUWAVE's want Earnings Quarter everyone Call. welcome just Second to XXXX I

was SEC can we with our Form Investors presentation. available filed Our XX-Q in website the to presentation was was the that this on the our updated and earnings issued last refer morning, an and you have section, that made please release And night. during

the call Tim Care on the are we after Hendricks, Sales. EVP me our and Toni the Joining CFO; open Wound our of And Q&A. call presentation, will Rinow, to

cautioned which many the included disclaimer. and let call results to and as materially are statements statements. with the So The uncertainties, financial constraints, A risks to ability these these activities. risks begin may affect the of that of me guarantees financial to not are of no undertakes any future could relating contain obligatory results, performance company other statements. such any update are forward-looking statements such for and statements expectations description in involve forward-looking filings. projected and development Actual plans This beyond forward-looking that forward-looking production from our SEC future our future and control. may uncertainties business statements forward-looking differ company's obligation factors in results Investors

Form results As a non-GAAP in between be can reminder, second XX-Q. and our discussion GAAP found quarter today recently will Reconciliations include non-GAAP our numbers. our filed

Okay.

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has profitable and operations ability As to is lack of a seek and issues, streamline expect show rapid, with chain one we manufacturing moves to we eliminate simply reduce we which in results enable the our continue undertaken we previously. The and then and to to and in process to goal that our QX to in supply engage markets and company simple that aggressive growth. cut pursuit especially costs to capacity larger serve goal, partners customers, QX,

markets. business seek own itself capital of destiny control without reliance create a its to Our that philosophy constant support self-sustaining going on gain can and to is forward therefore,

now will results QX to positive Our show this you call it. I some over in walk Toni? to Toni turn direction. And through the steps

Toni Rinow

primarily of XXXX X compared totaled to XX%. for ended Thank revenue increase $X.X falls the Revenue XX, months as the within range XXXX, June initiatives. a an increase XX% $X.X stronger an the provided million, for Morgan. totaled for This of same guidance of for from for of $X.X months June due the compared to the X same XX% as percentage XX% June XXXX. as Gross pricing of last previously Revenue same months the to $X.X to XX% growth period period of XX% X ended period XXXX. XXXX million, increased million you, margins year, million to for ended the

loss which a for accrued spend for volatile SANUWAVE refer loss months primarily net through financial of $X.XX onetime XX, the our our income reversal June continues $XXX,XXX Net the year, depreciation fair removes operating ended and a manage onetime the $X.X believe which Slide the XX, million period of execute revenue, strategy we for $X.X totaled amortization, and in during including income the other loss $X.X the improve Adjusted EBITDA. Total XXXX amount versus the XX, for Please release adjusted last or compared million. profitability assets causes period net to of XXXX, months to to to In which to was net current reconciliation which period. prior of July XXXX. as profitable XXXX, impact ended negative of presentation, in initiatives. year Cash the X to as website million expense expenses. for is $X of in charges, aligns million increase the value $X.X the June and The on drive June of XXXX, was ended effectiveness months company million loss same change $X.X improvement $X.X XXXX. million of derivative X period. Adjusted months to June liabilities, EBITDA XXXX. Operating from change million of XX, million to is decreased operating the million the $X.X our December financing our with X be a totaled gross XX, for initiative expenses. $X and of for EBITDA to our X you transferring expenses XXXX, SANUWAVE, net same on thank value manage with and is period liabilities, cost very additional million, X expense of our your to now to XX% We million, For derivative Morgan? an in to to to the support as $X.X which for and our losses approximately fair X the which the totaled for operations. interest expense, $X.X management of growth I'm Morgan. due XXXX, the support June an noncash back of compared of totaled which months proceeds totaling continued million received closed the shows compared noncash continued intended

Morgan Frank

Thanks, Toni.

market will So Hendricks, overview current next call our on Tim? of you and the will who some give sales leader, an opportunities. be Tim developments fearless

Tim Hendricks

changes Morgan. to private I'm to the highlights to ] our Thank the interest channels [ and morning. proposed to and skin QX continued as down it Coast did of all impact them applications insurance the an the frequency, not through wounds offices, fastest-growing summer, happy and join market is tailwind viable use our relates provide the low contractors, important and for have QX, administrative max. limit wound. Skin coming channel These we activity reinforce Novitas, walls. it strong to the of remaining overall ultrasound nursing applications dog billion marketplace a have What occur are the and anticipate mentioned the groups. we're of new of where wound from. is in want a with until that recent outside coverage perspective. great i.e., noting homes a option X you, could being We a by a proposed per to products covered to always in significant been UltraMIST, Hospitals limits and is substitutes patients worth mobile greatly Good current changes products to And we are Medicare ] reduce will as and sales from as CGS one noncontact chronic this the of few and for It's days would you the it continue results all advanced treat associate running substitutes. that and the First XX from channels as legacy care significantly, support, remains though more space, [ hospital push former $X but these sales treat taking on

customers deal direct ramps continue sales focuses and brand partnership a This experience. worth The awareness to the with Medical. up. Another inventory group with the seasoned X states. deep that SANUWAVE signed rest care on team and market partners noting distribution has western as will Pacific material new other and increased California development The provide distribution recently add of wound deal is sales

balance I'll partnerships you. for the fiscal the sales priority. strategic plans of WX for for XXXX, distribution to it clinical and and in Wound year planning our industry veterans, the turn several are make And with I process So top that's continue the we finalizing of direct and hiring to for will back and personnel. Morgan,

Morgan Frank

Great. Thanks, Tim.

It's systems you really a time consume about XX% slightly single-use And creates business. in higher reimbursement the field, many in In favorable. [ bigger, pricing overall active that company's customers a pricing rate, term now a rise consumables business reduce generates trends future really But is this data are. this business this is rates system on each and we a system recurring UltraMIST the the understand. over UltraMIST enabling you can't this a to simple. the revenue field QX. they this in years. to consumables price number measures company's it's just think of traffic So increase is expect much are and the per is times time. Precise UltraMIST what anticipated use, what manage significant of to the term, core significantly they how better really couple model really next And the making we higher are revenues part that really to We're near simple. focus were in applicator can sensitive to a end, stream we detail Systems that in use, place leading what SANUWAVE, each for many consumable. times and usage. does greater rates model. And [indiscernible] are our and consumables for the in that at which ] that a key determining the here have want number attach quarters in is how future determination a And company's consumables the the of call is for in share razor-razorblade paid may We simple share this, do we we usage while production

in better new currently measure pass and as past. terms going think rates attach opportunity pricing, makes and nature the we higher that less improvement, old X existing here per the SANUWAVE, represents in the field. done in a ago used includes understanding and This who is off our contracts from company limited best It's pricing consumable restrictive months. -- of month owned these for roughly are active be that value so have twice the and the XXX stream core the There's this last usage systems It's before. up. At to than have years has consumables as in that to and the data the existing starts our figure base. the Systems count. So The core and But consumables catch we metric. ordering both hasn't we've the the we no there of forward. is by to only increase company on end comparability customers dollar full for one base about new had particular of to UltraMIST value going QX, more This customers a and systems talked roll manage the really it predicting number report inclusive and this the as

consumables materially QX revenue. for year to of to in especially basis base growth provide and in the in this ongoing expect and We increase QX that

want QX, to has being be will last be this needs to in want forward care We year-over-year forward we're still is looking our products in to lift, up time. just company continued all hard pay being unable take as in term. work patients, heavy goes to XX% quarter, not This anticipate significant I but this but challenge. we to the to employees to soon open I very revenue to full align this the the in XX% the I a the to and constraint short to all us. SANUWAVE guidance time there But to continuing [indiscernible] QX that payers. Similar our meaningful meet questions. And there support the XX% market. of something to the look for us. off. With will UltraMIST if at the issue have physicians exciting guidance. XX% for wound and of demand starting growth it really of in been on above thank up the to is to for fantastic thank this this We So investors production. to transition, who the it's a behind capacity QX But that, going plan, And one still know this I anticipating products enable rise has think interesting we're -- of quarter will to limitations those of our QX. should words,

we if Paul. for questions, open could please So

Operator

[ [Operator question private investor. Instructions] first Holden Our is Walter ], from

Unknown Attendee

You did is mention product? comments that. have I about any the wondering -- anything about if [indiscernible] the -- what it not you was

Morgan Frank

question. Thanks the for

the So system hasn't in a renewed revenue. call portion to dermaPACE looking well at quarters, XX% internationally conference mean are as that domestically to it we product hoping in of units, a wasn't as revenue. next market continue that focus as SANUWAVE's SANUWAVE's but UltraMIST several, of a place Profile it's the It the we relatively and in anticipate coming orthopedic are small focused selling being plus actively on we It's -- serves U.S. dermaPACE, both it the still the on -- I is

Operator

There are would any back remarks. at the over no to like hand floor management closing this further I time. to for questions

Morgan Frank

lot Well, everyone, thanks, great more your of dialing that questions. a I'll August. take our inclusive format sign that as and And a have new for of answered conference in, rest call a

Operator

concludes today's This conference.

time. this disconnect You for at your your lines you participation. may Thank

SANUWAVE Health (SNWV) 11 Aug 232023 Q2 Earnings call transcript