Nuwellis Q1 revenue down 5% to $1.8M; net loss widens to $6.5M

Nuwellis, Inc.

2023-Q1 EPS reported -$5.76 revenue$1,826,000

Revenue $1.8M, 5% decline from $1.9M in Q1 2022; gross margin improved 120 bps to 58.4%.
Heart Failure segment revenue up 21% YoY; Pediatrics down 28%, Critical Care down 4%.
Net loss $6.5M ($5.76 loss per share) vs $4.5M ($42.45 loss per share) in prior year; includes $755K non-cash warrant revaluation expense.
Cash, equivalents and marketable securities $12.1M at March 31, 2023; no debt.
CEO cites new clinical evidence driving heart failure growth; focused on making Aquadex ultrafiltration therapy standard of care.

item 2.02 item 9.01

Key facts

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 first quarter ended March 31, 2023 results: revenue $1.8 million, net income $6.5 million, EPS a loss of $5.76 per basic and diluted common share.

Period: the first quarter ended March 31, 2023
Revenue: $1.8 million
Net income: $6.5 million
EPS: a loss of $5.76 per basic and diluted common share
Result: reported results

Exact text from the filing

technology company focused on transforming the lives of people with fluid overload, today reported financial results for the first quarter ended March 31, 2023. • Revenue of $1.8 million for the first quarter 2023, a 5% decrease over the prior-year period. • By segment, first quarter 2023 revenue in Heart Failure increased approximately 21% over the same period

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Source: SEC EDGAR

accession 0001140361-23-023593

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