Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Nuwellis, Inc. reported the twelve months ended December 31, 2022 results: revenue $8.5 million.
- Period
- the twelve months ended December 31, 2022
- Revenue
- $8.5 million
- Result
- reported results
Exact text from the filing
Full year revenue of $8.5 million, an 8% increase over 2021.
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Nuwellis, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $2.3 million, net income $1.9 million, EPS loss of $5.00 per basic and diluted common share.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $2.3 million
- Net income
- $1.9 million
- EPS
- loss of $5.00 per basic and diluted common share
- Result
- reported results
Exact text from the filing
Revenue for the fourth quarter of 2022 was $2.3 million, compared to $1.6 million in the prior-year period. Gross margin was 56.9% for the fourth quarter of 2022, compared to 54.4% in the prior-year period, an increase of 250 basis points, resulting from increased sales volume. Selling, general and administrative expenses for the fourth quarter of 2022 were $4.7 million, compared to $4.1 million in the prior-year period. The increase in SG&A was primarily due to higher professional service fees and variable compensation expense, balanced with continued spending vigilance. Fourth quarter research and development expenses were $1.2 million, compared to $1.1 million in the fourth quarter of 2021, reflecting a slight increase in product development expenses . Net loss for the fourth quarter of 2022 was $1.9 million, or a loss of $5.00 per basic and diluted common share
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