Nuwellis Q3 revenue up 17% YoY to $2.4M; net loss narrows to $3.4M

Nuwellis, Inc.

2023-Q3 EPS reported -$10.21 revenue$6,313,000

Revenue of $2.4M (+17% YoY); circuit sales driving growth with 26% increase in therapy utilization.
Gross margin 57.3% vs 61.0% YoY due to lower console volumes; disposable margins at 74.0%.
Net loss $3.4M ($1.81 loss per share) vs $3.9M ($36.72) YoY; lower expenses and higher share count.
Cash $4.9M, no debt; closed $2.25M public offering on Oct 17 for additional capital.
Collaborations with SeaStar (pediatric SCD device distribution) and DaVita (pilot phase) progressing.

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 0.95

Nuwellis, Inc. reported the third quarter ended September 30, 2023 results: revenue $2.4 million, net income $3.4 million, EPS a loss of $1.81 per share.

Period: the third quarter ended September 30, 2023
Revenue: $2.4 million
Net income: $3.4 million
EPS: a loss of $1.81 per share
Result: reported results

Exact text from the filing

company dedicated to transforming the lives of people with fluid overload, today reported financial results for the third quarter ended September 30, 2023. • Revenue of $2.4 million for the third quarter 2023, increased 16% over the prior quarter and increased 17% over the prior-year period. • Therapy utilization, or the number of circuits per placed

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Nuwellis, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-051737

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