Nuwellis Q1 revenue up 2% to $1.9M; net loss narrows to $3.8M

Nuwellis, Inc.

2024-Q1 EPS reported -$0.60 revenue$1,857,000

Revenue $1.9M, +2% YoY; consumables sales +11% to 82% of total revenue.
Gross margin 64.1% vs 58.4%; operating loss improved to $4.7M from $5.8M prior year.
Net loss $3.8M ($0.60 loss per share) vs $6.5M ($5.76 loss per share) YoY.
Cash $1.4M, no debt; closed $2.7M underwritten public offering on April 30, 2024.
Plans approx. 50% expense reduction for rest of 2024; launched REVERSE-HF clinical study.

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, 2024 results: revenue $1.9 million, net income $3.8 million, EPS a loss of $0.60 per basic and diluted common share.

Period: the first quarter ended March 31, 2024
Revenue: $1.9 million
Net income: $3.8 million
EPS: a loss of $0.60 per basic and diluted common share
Result: reported results

Exact text from the filing

company focused on transforming the lives of people with fluid overload, today reported financial results for the first quarter ended March 31, 2024. Highlights: • Revenue of $1.9 million, a 2% increase over the prior-year period. • Consumables sales, representing 82% of total revenue, grew 11% year-over-year. • Pediatric revenue growth of 40% year over year led

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Source: SEC EDGAR

accession 0001140361-24-024646

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