An Israeli startup focused on producing aesthetic medical devices reported a market cap of approximately NIS 1 billion (approximately $300 million) after presenting its last quarter report that saw a 43% increase in annual revenue.
Sofwave, an “emerging leader in energy-based non-invasive, aesthetic medical devices for practitioners worldwide,” reported that its second-quarter revenue was $21 million, while gross profits were reported at $15 million.
The company implemented an innovative approach to wrinkle reduction, lifting, and cellulite using its proprietary technology called SUPERB (Synchronous Ultrasound Parallel Beam technology).
The startup explains that this product can “improve facial lines and wrinkles, lifting the eyebrow and lifting lax submental tissue (beneath the chin), lifting lax skin in the arms, as well as the short-term improvement in the appearance of cellulite and treatment of acne scars.”
“We delivered record quarterly revenue of $21 million in the second quarter, representing 43% year-over-year growth and positioning us strongly as we enter the second half of fiscal 2025,” said company CEO Louis Scafuri.
Dr. Shimon Eckhouse, Chairman of the Board of Sofwave, said: “Our significant recurring revenue, now over 40% of total revenue, is indicative of the high level of satisfaction from patients and providers, as approximately 600,000 treatments have been conducted with our technology since commercial launch.”
“Importantly, we also continue to demonstrate operating expense discipline and maintain a strong balance sheet," Eckhouse added in the shared statement.
Scafuri concluded: “Looking ahead, we have a scalable, lean infrastructure in place to support continued high growth and profitability.”
What are aesthetic medical devices?
The aesthetic medical devices developed by Sofwave are defined as “any instrument, apparatus, appliance, implant, material or other article, intended by the manufacturer to be used, alone or in combination, for human beings to provide a desired change in visual appearance, without therapeutic or reconstructive purpose”.
These devices utilize various technologies like lasers, radiofrequency, and ultrasound to address concerns such as wrinkles, skin laxity, hair removal, and body contouring.
In the case of Sofwave, its two main products focus on improving skin, wrinkles, and the use of electrical muscle stimulation (EMS) technologies to work on muscle toning.