Nuwellis Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 14% year-over-year in Q2 2026, with gross margin rising to 76% and net loss narrowing to $4.8 million. Strategic focus remains on expanding Aquadex utilization, pediatric and critical care growth, and disciplined capital allocation.
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Q1 2026 saw 26% revenue growth, improved gross margin, and a strengthened leadership team. Pediatrics now accounts for half of U.S. revenue, and a strategic acquisition expands the product portfolio. Cash burn reduction and disciplined capital allocation remain priorities.
Fiscal Year 2025
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2025 saw a 5% revenue decline but operational strengthening, improved gross margins, and strategic focus on cardiorenal and pediatric markets. The company exited the EU, acquired Rendiatech, and ended the year with $1.2M cash and no debt.
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Q3 2025 saw revenue of $2.2M, a 6% year-over-year decrease, but 7% proforma growth excluding one-time and international impacts. Growth was led by heart failure and critical care, with new product launches and operational shifts supporting future margin expansion.
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Q2 2025 revenue declined 21% year-over-year due to a temporary supply chain issue, but pediatric revenue grew 23% and the backorder was resolved in July. The company is focused on growth in pediatrics, cardiac surgery, and outpatient heart failure, supported by a recent capital raise and manufacturing transition.
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Q1 2025 revenue rose 3% year-over-year to $1.9 million, with strong growth in pediatrics and heart failure segments offsetting a temporary decline in critical care. Gross margin declined, but operating expenses fell 31%, and the company remains debt-free with $2.6 million in cash.
Fiscal Year 2024
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Q4 2024 revenue declined 9% year-over-year to $2.3 million, but gross margin improved and net loss narrowed significantly, aided by cost reductions and a one-time gain. New CMS reimbursement and clinical data are expected to drive growth in both inpatient and outpatient markets.
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Q3 revenue was $2.4M, down 2% year-over-year but up 8% sequentially, with pediatric growth offsetting declines in other segments. Gross margin rose to 70%, and net income reached $2.4M due to a warrant liability revaluation. Outpatient reimbursement for Aquadex will nearly triple in 2025, expected to drive growth.
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Q2 2024 revenue grew 6% year-over-year to $2.2M, led by strong consumables use in critical care and heart failure, while pediatric revenue declined 10%. Gross margin improved to 67.2%, and operating loss narrowed. Quelimmune's launch marks a key milestone in pediatric care.