SofWave Medical (SOFW) Q2 2026 earnings summary

Executive summary

• Achieved second quarter revenue of $30M, up 43% year-over-year, and first half revenue of $54.4M, up 44% year-over-year.

• Recurring usage fee revenue reached $13.9M in Q2 (52.2% growth) and $24.9M in H1 (54% growth), representing 46% of total revenue.

• Sold approximately 3,100 systems to date, with over 975,000 treatments administered since commercialization.

• Continued strong demand driven by adoption of regenerative aesthetic treatments and expanding use of GLP-1 therapies.

Financial highlights

• Q2 gross profit was $22.9M, up 45% year-over-year; gross margin was 76.5%.

• Q2 IFRS operating income was $2.9M (vs. $2.2M prior year); non-IFRS operating income was $3.3M, or $4.1M excluding one-time Nasdaq listing expenses.

• Q2 IFRS and non-IFRS net income were $2.5M and $3.0M, or $3.8M excluding one-time expenses (vs. $1.5M and $2.2M prior year).

• H1 IFRS operating income was $4.5M (vs. $1.2M prior year); non-IFRS operating income was $5.3M, or $6.2M excluding one-time expenses.

• H1 IFRS and non-IFRS net income were $3.8M and $4.6M, or $5.4M excluding one-time expenses (vs. $0.4M and $1.9M prior year).

Outlook and guidance

• Management expects continued growth driven by expanding installed base, increasing utilization, and strong demand for regenerative aesthetic treatments.

• Focus remains on disciplined execution, innovation, commercial expansion, and long-term shareholder value.