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$SOFW $SOFW.TA Here is an AI-generated summary of the earnings call covering Sofwave's fantastic quarterly results🧵 Disc: Still long with a 19.37 ILS cost basis. 1/ Financial Performance & Revenue Milestones 📈 ➢ 2025 was a milestone year, marked by strong revenue growth and the achievement of IFRS profitability. ➢ Q4 2025 revenue reached $28.9 million, a 58% increase compared to Q4 2024. ➢ Recurring usage fees for the quarter grew even faster, hitting $13.2 million, an 83% increase year-over-year. ➢ Total revenue for FY 2025 reached $87.6 million, up 47% from 2024. ➢ Recurring fees now represent approximately 43% of total annual revenue. 2/ The GLP-1 Market Catalyst 💉 ➢ Management highlighted the rapid adoption of GLP-1 weight loss medications as a primary growth driver. ➢ Approximately 1 in 8 adults in the U.S. is estimated to be using GLP-1 therapies. ➢ Rapid weight loss often results in skin laxity, loss of tissue tone, and muscle degradation. ➢ Industry data indicates that over 60% of GLP-1 patients seeking aesthetic procedures are new to the category. ➢ Unlike destructive technologies, Sofwave’s ultrasound targets the mid-dermis to regenerate skin without damaging fat or deeper structures, which is critical for patients who have already lost facial and body volume. 3/ Product Innovation: Lift HD & PureImpact VIP 🛠️ ➢ Sofwave expanded from facial treatments to body applications, including arms and thighs. ➢ The Lift HD Applicator, launched mid-2025, is designed specifically for body treatments with enhanced speed and efficacy. ➢ Lift HD significantly increases the thermal injury volume, which is vital for treating larger body surface areas efficiently. ➢ The PureImpact VIP, launched late 2025, uses proprietary EMS principles to strengthen and build muscle mass. ➢ Unlike previous versions, the VIP unit operates independently of the ultrasound system, allowing for simultaneous skin and muscle treatments. ➢ Once the units are placed, the PureImpact VIP runs autonomously without further human intervention. 4/ Clinical Evidence & Functional Performance 🧬 ➢ A clinical study led by Dr. Movski (longevity expert and 2024 President of the American Aesthetic Society) validated the EMS technology. ➢ The trial involved 38 subjects divided into treatment and control groups. ➢ Subjects in the treatment group received six sessions, resulting in significant improvement in functional muscle performance by week 9. ➢ The study demonstrates that PureImpact VIP improves not just aesthetic appearance, but also actual muscle performance metrics. 5/ Marketing Dominance & Global Scale 🌍 ➢ Sofwave now has an installed base of approximately 2,700 systems across 52+ countries. ➢ North America remains the leading market, accounting for over 50% of total revenue. ➢ Regulatory approval in Japan (Q2 2025) has further fueled growth in the Asian market. ➢ Digital engagement exploded with 35.8 million impressions in 2025, a 90% increase year-over-year. ➢ Sofwave holds a commanding 54% "Share of Voice" in regenerative lifting conversations online. ➢ The company's global social media community now exceeds 1 million followers. 6/ Profitability & Balance Sheet Strength 💰 ➢ Operating profit for FY 2025 (adjusted for stock-based compensation) hit a record $9.2 million, compared to a loss of $1.2 million in 2024. ➢ Gross margins remained strong at approximately 75%. ➢ Operating expenses as a percentage of revenue decreased to 60% in Q4, down from 74% in the previous year. ➢ The company ended 2025 with a healthy cash balance of $35.3 million. ➢ Management confirmed they are exploring a potential U.S. stock offering (IPO).