SNWV - Earnings call transcript Q1 2024

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Operator

Good day, everyone, and welcome to today's SANUWAVE announces record Q1 2024 results. [Operator Instructions] Please note that this call is being recorded, and I will be standing by should you need any assistance. It is now my pleasure to turn the conference over to Morgan Frank. Please go ahead.

Morgan Frank

Thank you very much. Hi, everyone, and welcome to SANUWAVE's First Quarter 2024 Earnings Call.

probably Thursday Form night. you with was of SEC the many saw, XX-Q our filed As which on And morning, section. updated call, along earnings with made our release the presentation was accompanying the website in our issued this is Investors available this

can during call. that presentation to refer You this

CFO. the me to call Joining our Q&A. this presentation, the is call after on up we Sorensen, Peter And will open

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

Okay.

will as March XX, between XXXX. ] a [ can the months ended discussion our for X today reminder, GAAP recently our numbers. in So Reconciliations and found non-GAAP include our be results non-GAAP filed XX-Q

like. spoke quarter, to we begins So to the look behind are Last able to good we being of pleased what show be that here with us, that get SANUWAVE, very let's acceleration to part. everyone at and the

we going that pleased to fiscal forward. to this as rate rate growth say XXXX, year compared sustainable Our and than is doubled we're believe that more

painlessly of the time begin a affordable set plans their as larger delivers of and get footprint now to geographic lives who in has to the in line sequentially with well sales X in remain a which our being quarter with modality razor quarters to and in popular than as previously benefit some of as we excess new here customers our slower integral requiring can XX% In to consumable occurrence as more Revenue as XXXX ongoing systems in larger number and what we we salespeople XX% commercial some back. XXXX caregivers price focus and expand living up as due XX% year pick of coming so previously in care growth rose over believe particular XXXX. as about and easy-to-use been for. range underway. and had field. Applicator operations and is that up. We're pieces seasonally that system QX in to field. from XR QX Both from here. additional pricing, training QX in and of and patients showed razor execute. applicators feel continue XXXX. support of in revenue, and revenue is from UltraMIST increased growth applicators facility the to year-on-year categories become exciting and the been bringing place growth to our increasingly reach had treatment increased the the blade And strong XX% unit [ the outside versus a ] optimistic record QX, that help device. than end, a care been higher sales now Honestly, the the this that QX. support. It's And a XX% we've clinical in We what breakout remain bit see practice in patients year of care. We ourselves is excess patients XX% reflective to largely total is We a support value user-based a like coming in discipline of through associated systems we aiming attention strong come go which medical this this we're loss the acute the SANUWAVE. step project revenues provides believe a staff adding to to in hired is in after number can hoping system and expense we hungry mobile revenues customer ULTIMA common ourselves systems engage benefits everybody of active to an were product. go to real sold mid-XXs We proposition back more drive opportunities system simply for with under treatment QX upcoming SEPA, will our rapidly adjusted $XX,XXX flows some of of and goal deeper to of patients homes, results. Despite the EBITDA the traditionally proven improve in quarter that part and believe to profitable beginning systems quarter it's and can their manufacturing here we in Our XXX care UltraMIST the gross rate continue modest as M&A up with We have for quarter get us. to paying inventory that assisted in build market engagement and edge weakest a of around to margins severance believe with it into philosophy nursing to Staffing the to and normalized find the charges pursuit an healing figure rather up a active time the its been SANUWAVE be the ongoing show spring for costs were too to what the to successful have XX% big managed We and their and year. and operating rapid UltraMIST ended unusual around from well improvements

in through numbers. our beginning April, new the can you as over So call so of now of joined CFO speaking the I'll who Peter? Sorensen, the he Peter us pieces, turn to walk

Peter Sorensen

everyone. to growth a continued pleased the Good X excited XX, and have ago, the March I'm look just strategic to at and initiatives. short SANUWAVE team's Morgan. ended to $X.X very XX, numbers. Revenue that, a the the for versus range for weeks totaled an XXXX, compared the XX% XXXX. period period here's to within year. With joined the I'm months same months guidance a XX%. for same $X.X for of the XX% X morning, you, million, Thank team This as XX% million last to to ended as of previous amounted of increase growth revenue Gross is March XXXX, margin XX% percentage contribute X of the

a growth net ended in is XXXX. We to to as for an million assets change March to a loss of manage the a to $X.X due compared X million, last last XXXX, XX, of loss XXXX. somewhat to in expense its close drive $X.X liabilities, months Total now operational and XXXX, ended loss receipt Morgan. million of the EBITDA to to million our March the agreement. Net breakeven of versus ended which value million million March aligns to was million in loss to SANUWAVE ended versus same as $XXX,XXX strategy transfer months spend X the and of The related operating to $X.X SANUWAVE. with severance compared improve $X.X a loss $XX,XXX March expenses. $XX.X with months XXXX, primarily continued litigation operating XX, due for was nonrecurring $XX.X March of for to and and the $XXX,XXX continued for year, derivative an option net support December For continued financial fair the expenses XX, increase million improvement XXXX, the call $X.X for interest Cash as $X.X of period for thank million totaled you period X charge $X.X of loss related charges for same decrease a that, back the manage by of $X.X couple compared to $X.X license charges the towards months months XX, was March ended And same amounted profitability XXXX, execute March of million. the and improvement for period I'll at a effectively. Operating to million X offset which XXXX. agreement. Adjusted to XX, the XX, XXXX, the totaled initiative the profitable year, an current XX, of XX, X amounted

Morgan Frank

Okay. Thanks, Peter.

SEC let's the most to XX. elephants get room. SEPA about you And extended probably So for in the merger outside we uplifting. questions have May the filings, saw in the I'm and many to the our of you of sure date as merger

hoped. obviously, we So deal I than taken longer mean, a bit has had this

have is to updated at the are discussed on something company we exchange today. closing say listing. simply you I I on this holdups for some today, outside our As really timing May. control. in sees path of the March, to was end is day, the hoping closing before merger of the call a What financials and definitive our end But of of the that the merger the as can

speak done get And on about limited now. growth me, can right do, can believe plans. in this pursuing nobody publicly we wants we So I than more our what we're so somewhat just

updating to business our to to you the well. continues forward look we in and So meantime, future. In further the grow go not-too-distant

lots it. And growth in into their feat. And I culmination I for want release, XX% work. likely up up we're hours, are guidance entire questions. SANUWAVE mean of to no As with backs been have putting I represents press in our excited of And with a be to it to year-on-year just XX% year is and XX% you of the and following and sort part honored of This guidance this. up it for QX, for rolling team that, XXXX. of lot open the fiscal growth a really reiterating call will thank we am quarter the saw growth people their to the who XX% sleeves growth the just

Operator

to it And turn it for at this any have like to Instructions] remarks. closing I'd we or presenters appears the back questions additional no [Operator time.

Morgan Frank

and that and to again Thanks, next try I were a Well, anticipate quarter. as see we take you that helped will concerns. everybody's thorough sign everyone, we'll

Operator

will you for today's conclude disconnect. and now this your you Thank participation, conference. And may

SANUWAVE Health (SNWV) 10 May 242024 Q1 Earnings call transcript