Sanuwave cuts Q2 2026 revenue guidance amid Ultramist sales pressure

Sanuwave Health, Inc. (NASDAQ: SNWV) revised its second-quarter 2026 revenue guidance to a range of $8.5 million to $9.5 million, below the outlook the company provided during its first-quarter earnings call on May 13, 2026.

CEO Morgan Frank attributed the revision to deteriorating conditions in the capital equipment market for the company's Ultramist system. Frank said that while March and April had shown signs of improvement, May and early June brought a reversal of those trends.

Frank cited widespread clawbacks of CMS reimbursement for skin substitutes and allograft usage as a key factor driving wound care practices out of business. He said some of those closures and liquidations appear to be producing used Ultramist systems on the secondary market, which he described as having "a significant cannibalization effect on the market for new systems."

The company said applicator volumes remain on pace for a record quarterly unit volume of consumable shipments in the second quarter. Frank said Sanuwave intends to qualify, train, and support new users acquiring systems through the secondary market, noting that recurring applicator usage is central to the company's business model.

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