Sofwave Medical's 2024 Financial Growth: A Closer Look

Author: Evelyn Baker Updated: 01-13-2025 08:50 AM

Strong Financial Performance in 2024

Sofwave Medical Ltd (TASE: SOFW), a pioneering company in the non-invasive aesthetic medical device sector, recently reported impressive preliminary financial results for the fourth quarter and the entire fiscal year. With products that enhance treatments for practitioners globally, Sofwave truly stands out in the market.

Fourth Quarter Highlights

The company anticipates its revenue for the fourth quarter of 2024 to fall between $18.2 million and $18.4 million, marking a remarkable growth of approximately 20% compared to roughly $15.3 million during the same period in 2023. This growth reflects the increasing demand for its innovative aesthetic technologies.

Full Fiscal Year Performance

In terms of overall fiscal performance, Sofwave expects its total revenue for the full year 2024 to be between $59.5 million and $59.7 million, an expansion from $50.3 million in the previous year, indicating a steady rise of about 19%. This upward trend showcases the company’s effectiveness in catering to the expanding market for aesthetic medical devices.

Financial Stability

As of December 31, 2024, Sofwave reported approximately $21.6 million in cash and cash equivalents, a slight increase from $21.2 million on September 30, 2024. This demonstrates the company's solid financial management and ability to sustain growth amidst rising operational demands.

About Sofwave Medical

Sofwave Medical Ltd, known for its revolutionary approach to wrinkle reduction and skin lifting procedures, leverages its proprietary SUPERB™ technology. This Synchronous Ultrasound Parallel Beam technology, which has received FDA clearance, effectively addresses facial wrinkles and improves skin laxity in various areas, including beneath the chin and on the upper arms. The innovative Pure Impact™ module uses electrical muscle stimulation technology approved for muscle toning, offering practitioners safe and effective treatment options.

Contact Information

For further inquiries, you can reach out to Sofwave Medical or their investor relations team. Interested parties may contact:

General Contact

Email: Info@sofwave.com

Investor Relations

Brian Ritchie
LifeSci Advisors LLC
(212) 915-2578
Email: britchie@lifesciadvisors.com

Frequently Asked Questions

What is Sofwave Medical known for?

Sofwave Medical specializes in non-invasive aesthetic medical devices that improve skin quality and appearance.

What were Sofwave's revenue expectations for 2024?

For 2024, Sofwave expects its revenue to be between $59.5 million and $59.7 million.

How much cash did Sofwave have at the end of 2024?

As of December 31, 2024, Sofwave reported approximately $21.6 million in cash and cash equivalents.

What technology does Sofwave utilize in its treatments?

Sofwave uses its patented SUPERB™ technology, which is FDA-cleared for various aesthetic treatments.

Who can I contact for more information about Sofwave?

You can contact Sofwave's general information email at Info@sofwave.com or reach out to their investor relations via Brian Ritchie from LifeSci Advisors LLC.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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