SofWave Medical (SOFW) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $28.504M, up 35% YoY; usage-fee revenue rose 60% to $13.3M, or 47% of revenue.

• Q3 IFRS net income was $4.104M versus $0.982M a year earlier, the sixth consecutive quarter of positive IFRS net income.

• 9M revenue was $82.873M, up 41% YoY; IFRS net income was $7.876M versus $1.387M.

• More than 1M treatments had been delivered by Sept. 30, 2026; China NMPA approval and rollout support commercial expansion.

Financial highlights

• Q3 gross profit was $21.845M reported; IFRS gross margin was 76.6% versus 73.7% in Q3 2025.

• Q3 IFRS operating income was $4.424M versus $1.488M; non-IFRS operating income was $4.910M versus $1.878M.

• Q3 IFRS net income was $4.104M versus $0.982M; non-IFRS net income was $4.590M versus $1.372M.

• 9M gross profit was $63.1M, up 43% YoY; IFRS gross margin was 76.1% versus 75.1%.

• 9M IFRS operating income was $8.9M versus $2.7M; IFRS and non-IFRS net income were $7.9M and $9.2M, respectively.

Outlook and guidance

• Priorities include Q4 execution, delivering the year, and entering 2027 ready to grow; China launch and stronger EMEA presence are next steps.

• Continued investment in clinical development and commercial expansion is supported by recurring revenue growth and improved operating profitability.

• Next-generation platform development and regulatory work continued, with updates planned at milestones.