Nuwellis Q3 revenue $2.1M (+11% YoY); net loss narrows to $3.9M

Nuwellis, Inc.

2022-Q3 EPS reported -$1.20 revenue$6,204,000

Revenue $2.1M, up 11% from Q3 2021; gross margin 61% vs. 60.4%.
Net loss $3.9M ($0.37 loss/share) vs. $5.3M ($0.75 loss/share) a year ago.
SG&A expenses $4.3M vs. $4.6M; R&D expenses $0.9M vs. $1.7M.
Cash $12.1M at Sep 30; closed $11M public offering on Oct 18, pro-forma cash ~$21.9M.
Activated 3 sites for REVERSE-HF study; awarded U.S. patent for pediatric dialysis innovation.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nuwellis, Inc. reported the three and nine months ended September 30, 2022 results: revenue $2.1 million, net income $3.9 million, EPS $0.37 per basic and diluted common share.

Period: the three and nine months ended September 30, 2022
Revenue: $2.1 million
Net income: $3.9 million
EPS: $0.37 per basic and diluted common share
Result: reported results

Exact text from the filing

the lives of people with fluid overload, today reported financial results for the third quarter ended September 30, 2022. Q3 Results and Recent Highlights: • Revenue of $2.1 million in the third quarter 2022, an 11% increase over the same year ago period • Gross margin of 61% was consistent with the same period last year • Activated three additional sites

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Source: SEC EDGAR

accession 0001140361-22-040374

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