Sales Funnel and System Trials Increase 13% Month Over Month
Launches Entry into Two New Vertical Markets; Initial Orders Exceed $1 million
SUWANEE, GA, April 08, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – SANUWAVE Health, Inc. (SNWV), a leading provider of next-generation wound care products, has announced they will be updating shareholders on a monthly basis during 2022 with regards to their Sales Funnel and System Trials. This news comes simultaneously with the company’s announcement for growth through a medical non-wound care vertical market expansion.
Both the Sales Funnel, defined as opportunities the direct sales team is pursuing to close in the next six months, and System Trials, defined as single 60-day assessments underway for evaluating purchase, have seen notable funnel increases for the month of March. During March, the sales funnel increased 13.1% to $18.1 million, while system trials increased 12.9%, bringing them from an expected 85 to a total of 96.
These increases provide excellent visibility on revenue for the second quarter and will be monitored closely as the sales team attempts to convert evaluations to closed deals. SANUWAVE notes that they do expect volatility in these numbers throughout the year but are committed to sharing the data monthly throughout 2022.
The company also announces growth through a medical non-wound care vertical market expansion in Sports Medicine and Aesthetics. In a soft launch, SANUWAVE has already received over $1 million in purchase orders to be delivered in Q2 and Q3 2022.
Products launching in these new marketplaces will include Profile® and UltraMIST®. Profile is an FDA-cleared product specifically designed for use in the sports medicine marketplace. The official launch of Profile leverages SANUWAVE’s extensive international experience in utilizing focused shockwaves to treat various sports-medicine-related injuries.
UltraMIST®, a technology that promotes healing by controlling inflammation and reducing bacteria, will be sold in the Aesthetics market, initially launching in MedSpas as a post-facial treatment.
“At SANUWAVE, our ENERGY FIRST vision has been focused on sharing clinically effective energy-based products that work to improve patient outcomes and enhance quality of life,” Kevin A. Richardson, II CEO & Chairman of the Board stated. “While wound care remains the heart of our business, we have grown to recognize a transferable potential to utilize our ENERGY FIRST ideas and products in parallel ways.”
To ensure steady growth, SANUWAVE has shared that they have strategically engaged with distributors and field experts that will help the company enrich their insight and familiarity within these new verticals.
“There is a large market opportunity in both Sports Medicine and the Aesthetics industry,” Richardson stated, “By partnering with existing players, we have the potential to see a significant upside with little to no upfront capital outlay.”
SANUWAVE Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.
SANUWAVE’s end-to-end wound care portfolio of regenerative medicine products and product candidates help restore the body’s normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.