SANUWAVE Health, Inc. experienced a robust 35% year-over-year revenue surge to $44 million in fiscal 2025, marking a strong rebound from prior losses. Net income reversed from steep deficits in prior years to a positive $11.8 million, supported by operational improvements and record quarterly sales growth. The company undertook a critical financial restatement due to historical state sales and use tax liabilities, increasing reported expenses and liabilities. Capital structure was fortified with a $23 million term loan and a $5 million revolving credit facility, enabling repayment of older debt and supporting working capital needs. While operating income softened slightly year over year, cash flow generation improved markedly, although modest free cash flow and ongoing IT and cybersecurity risks remain key operational considerations.