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BioWave claims 30 of 32 NFL teams use its device
“Well, we have 30 or 32 NFL teams, so I could pick any team.”
BioWave gets 95% of clinic market revenue from disposable electrodes
“95% of the revenue in that market we're making from the sale of those percutaneous electrodes Even though we're selling the 3500 dollar device as well, that's much more of a disposable driven revenue stream.”
BioWave Charges $3,500 for Pro Unit and $895 for Home Device
“The pro unit is 3500 dollars, and our home prescription unit is 895 dollars.”
BioWave works with 24 NBA and 24 MLB teams
“So, but the, I would tell you the, in professional sports, and we have 24 NBA teams, 24 major league baseball teams, and other sports and whatnot, the NFL probably is our most profitable, because they have more players on a team”
Injured pro athletes order BioWave through workers' comp
“And when players get hurt, they order these through workers' compensation, and workers' compensation pays for it.”
Smith: BioWave Raised About $6M Pre-Revenue from Angels and VC
“About six million I raised from both angel investors and a venture capital investor.”
BioWave has sold between 5,000 and 6,000 total units since 2007
“No, less, like, right, five, 6000 in that range.”
BioWave has over 70 national distributors selling to clinics and VA hospitals
“We have, in addition to our inside sales here, we've got over 70 distributors nationally selling to pain and spine clinics and also to VA hospitals.”
Smith: BioWave doubled its revenue in 2017 compared to 2016
“In 2017, we did two X the revenue over 2016”