3 Lesser-Known Healthcare Names With Major Upside in Store Sanuwave Health (NASDAQ:SNWV) reported second-quarter 2026 revenue of $9.7 million, down 3% from $10.1 million a year earlier, as lower UltraMIST system sales offset continued growth in the company’s recurring applicator…
siness. Chairman and Chief Executive Officer Morgan Frank said applicator sales remained strong throughout the quarter, with unit volume rising 13% sequentially from the prior record set in the first quarter and 27% year over year
Applicator revenue increased 8% sequentially and 13% year over year, surpassing the company’s prior quarterly revenue record set in the third quarter of 2025. Frank said the difference between growth in applicator unit volume and revenue reflected a greater mix of reseller sales, in which products are sold at wholesale prices. He characterized applicator performance as broadly in line with the company’s plans and as an indication of customer confidence in UltraMIST despite disruption among wound-care providers.
Used Systems Pressure Capital Sales The company’s capital-equipment sales were affected by the availability of used UltraMIST devices following closures among wound-care providers. Frank said the market disruption followed changes to Medicare reimbursement for skin substitutes and reimbursement clawbacks, which have put financial pressure on practitioners that used both UltraMIST and Allograft. UltraMIST system revenue fell about 34% year over year to $2.3 million from $3.4 million.