SofWave Medical (SOFW) Q2 2026 earnings summary

Executive summary

• Q2 revenue was $29.961M, up 43% YoY; IFRS net income was $2.511M and non-IFRS net income was $3.8M.

• H1 revenue rose to $54.369M from $37.661M, and net income to $3.772M from $0.405M.

• Approximately 3,100 systems sold and over 975,000 treatments delivered since commercialization; usage and utilization supported revenue visibility.

Financial highlights

• Q2 revenue was $29.961M versus $20.990M; system sales reached $16M, up 35%, and usage-fee revenue was $13.9M, up 52%.

• H1 revenue was $54.369M; usage fees reached $24.9M, up 54%, and represented 46% of revenue.

• Q2 IFRS gross profit was $22.915M, operating income $2.854M and net income $2.511M; H1 figures were $41.215M, $4.481M and $3.772M, respectively.

• Q2 adjusted operating income was $4.1M and adjusted net income $3.8M, excluding stock-based compensation and one-time listing expenses; H1 adjusted net income was $4.633M.

• FY2025 revenue was $87.6M, up 47%, with a five-year revenue CAGR of 42%.

Outlook and guidance

• H2 priorities include improving field productivity and operating leverage, expanding marketing, advancing the next-generation platform and scaling internationally.

• Preparation for potential China commercialization is underway following the NMPA submission, subject to regulatory approval.

• Long-term opportunities include regenerative aesthetics, expanded indications, combination therapies and increased utilization revenue; development and approvals remain prerequisites.

• Management assessed available financing and forecast cash flows as sufficient to continue operations and meet obligations for the foreseeable future.