SANUWAVE Health, Inc.
Close on Oct 19, 2026
- Market cap
- $41.54M
- P/E (TTM)
- 11.8
- Dividend yield
- –
About SANUWAVE Health
Surgical & Medical Instruments & Apparatus, SIC 3841
Sanuwave is a medical device enterprise specializing in directed energy solutions for regenerative medicine and wound care. The company focuses on noninvasive ultrasound technology designed to stimulate biological repair and tissue regeneration across musculoskeletal and vascular structures. Its primary commercial offering is the UltraMIST system, an FDA-cleared and patented platform that administers low-frequency, non-thermal ultrasound via a fluid mist without direct physical contact. The device treats acute and chronic wounds, including diabetic foot ulcers, surgical wounds, and deep tissue pressure injuries. Sanuwave supplies healthcare facilities, including hospitals, wound clinics, physician practices, nursing homes, and mobile wound care professionals.
Operating principally within the United States, the business distributes equipment and single-use applicators through direct representatives, independent distributors, and resellers. As of December 31, 2025, Sanuwave maintained 1,292 active systems across customer locations and employed 55 full-time personnel. The organization conducts operations from an FDA-registered, 20,019-square-foot facility providing administration, product development, quality control, and warehousing in Eden Prairie, Minnesota, where it is also headquartered.
Summary of the business section of SANUWAVE Health's latest annual report, written by StockData.
Company profile
Company
- Legal name
- SANUWAVE Health, Inc.
- Founded
- 2004
- Headquarters
- Eden Prairie, MN
- Address
- 9600 W. 76th Street
- Phone
- (952) 656-1029
- Website
- sanuwave.com
- Employees
- 55, Dec 31, 2025
- Industry
- Surgical & Medical Instruments & Apparatus
- Incorporated in
- Nevada
- Fiscal year ends
- December 31
- Auditor
- Baker Tilly US, LLP, Minneapolis, Minnesota
Stock & identifiers
- Ticker
- SNWV
- Exchange
- Nasdaq
- IPO date
- Oct 18, 2024
- Shares outstanding
- 9M, Aug 4, 2026
- Public float
- $233.30M, Jun 30, 2025
- Filer category
- Non-accelerated filer<br>Smaller reporting company
- Stock splits
- 1-for-375 reverse, Oct 18, 2024
- SEC CIK
- 1417663
- CUSIP
- 80303D305
- ISIN
- US80303D3052
- EIN
- 20-1176000
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Morgan C. Frank | Chief Executive Officer, Director | 120,403,452 |
| David Timothy Wern | Exec VP of Sales | 469 |
| Daniel Coyle | Chief Operating Officer | 37 |
| Peter Stegagno | Chief Operating Officer | 3,894 |
| Iulian Cioanta | Chief Sci. and Tech. Officer | 1,818 |
| Nanci Gilmore | Chief Commercial Officer | – |
| Peter Sorensen | Chief Financial Officer | – |
| Timothy Hendricks | Executive VP of Sales | – |
| Andrew Walko | President | – |
| Ian D. Miller | Director | 19,349 |
| James Tyler | Director | 8,700 |
| Jeffrey Blizard | Director | – |
| Gregory Matthew Bazar | Director | – |
| Anthony Michael Stolarski | Director | 317,686 |
CEO pay and shareholder return
Pay versus performance table from the proxy statement
| Fiscal year | CEO total pay | CEO pay actually paid | Other executives (avg) | Value of $100 invested | Peer group |
|---|---|---|---|---|---|
| FY2025 Kevin ARichardson II | $0 | $0 | $1.33M | $349 | – |
| FY2025 Morgan CFrank | $414.09K | $1.55M | $1.33M | $349 | – |
| FY2024 Kevin ARichardson II | $0 | $0 | $1.04M | $269 | – |
| FY2024 Morgan CFrank | $1.39M | $2.58M | $1.04M | $269 | – |
| FY2023 Kevin ARichardson II | $410.00K | $410.00K | $329.23K | $57 | – |
| FY2023 Morgan CFrank | $100.00K | $100.00K | $329.23K | $57 | – |
“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.
Employees
Headcount reported in annual reports
“As of December 31, 2025, we had a total of 55 full time employees in the United States.”
Corporate history
Events identified from SEC filings