Superwave Medical Aesthetics Sees 35% Revenue Jump in Third Quarter
תומצת מתוך Calcalist על ידי baba
Medical aesthetics firm Superwave reported a 35% revenue increase to $28.5 million in its third quarter, achieving a $4.1 million net profit. This marks the sixth consecutive profitable quarter, driven by strong sales in the U.S. and East Asia, and recurring revenue from virtual 'Pulses' packages. The company's market value has recovered significantly after earlier struggles, reaching 1.2 billion shekels.
הידיעה ב-5 שורות · תקציר של baba
- Superwave's third-quarter revenue jumped 35% to $28.5 million, with a net profit of $4.1 million.
- Recurring revenue from virtual 'Pulses' packages constituted 47% of the quarter's total revenue.
- The U.S. and East Asia are Superwave's main markets, with China recently receiving marketing approval.
- The company's market value has recovered to 1.2 billion shekels after earlier declines.
- Influencer Kim Kardashian's endorsement contributed to the company's recent performance.
Medical aesthetics company Superwave reported a significant 35% surge in third-quarter revenues, reaching $28.5 million compared to the same period last year. This marks the sixth consecutive profitable quarter for the company, which posted a net profit of $4.1 million, a substantial increase from less than $1 million in the prior year's quarter. Superwave, founded by Dr. Shimon Eckhouse, develops, manufactures, and markets medical devices for skin treatments like wrinkle reduction, rejuvenation, and tightening. The company also generates recurring revenue through the sale of virtual 'Pulses' packages, essential for operating its devices, which accounted for 47% of quarterly revenue ($13.3 million).
The United States remains Superwave's primary market, contributing $13.5 million in revenue with a 25% year-over-year increase. East Asia, including South Korea, Japan, and Australia, is the second-largest sales region, generating $10.4 million. This region saw the highest growth rate at 58%, boosted by regulatory approval for its product in Japan in April of the previous year. Following similar approval for marketing in China in September, Superwave anticipates accelerated sales growth in that market, with Eckhouse previously estimating the Chinese market's potential to rival the U.S. market.
Founded in 2015 and beginning sales in late 2019, Superwave went public on the Tel Aviv Stock Exchange in May 2021. Initially, the company struggled with profitability due to high research, development, sales, and marketing expenses, leading to a significant drop in its market value by June 2023. However, consistent revenue growth, from $22 million in 2021 to an anticipated $88 million in 2025, has fueled its recovery. The company's stock has rebounded, surpassing a market capitalization of one billion shekels in August. This resurgence has been partly attributed to influencer Kim Kardashian publicly endorsing the company's skin-tightening treatments. Superwave reached a peak market value of 1.7 billion shekels in early May, though it had fallen 28% before recent gains, trading at 1.2 billion shekels. The company also recently decided against a dual listing on Nasdaq and its chairman Eckhouse is appealing a financial sanction from the Israel Securities Authority related to another company he controls.
מוזכרים