SofWave Medical (SOFW) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $24.408M, up 46% YoY from $16.671M.

• Usage-fee revenue reached $11.0M, up 56% YoY and 45% of total revenue; capital equipment sales were $13.4M, up 39%.

• IFRS net income was $1.261M versus a $1.112M loss in Q1 2025; non-IFRS net income was $1.657M.

• More than 2,900 systems had been sold and 865,000+ treatments administered since commercialization; social media following exceeded 1.2M.

Financial highlights

• Gross profit was $18.300M, up 44% YoY; IFRS gross margin was 75.0%, versus 76.3% in Q1 2025.

• IFRS operating income was $1.627M versus a $0.956M loss; non-IFRS operating income was $2.023M versus a $0.199M loss.

• Net finance expense was $169K, pretax income was $1.458M and income tax expense was $197K.

• Basic and diluted EPS were ILS 0.03 each, compared with losses of ILS 0.03 per share in Q1 2025.

Outlook and guidance

• Growth strategy emphasizes utilization-driven recurring fees, repeat treatments, consumables and installed-base expansion rather than device replacement cycles.

• Management expects continued momentum in system placements and utilization, with focus on efficiency and operating leverage.

• Management cited low market penetration, consumer pull and expanding treatment options as drivers of a multi-year growth opportunity.

• Available financing sources and forecast cash flows were assessed as sufficient to support ongoing operations and obligations for the foreseeable future.