Earnings Releases·Nov 12, 2026, 4:03 PM ET

Nuwellis — Third Quarter 2026 Earnings Summary

Net sales for Q3 2026 were $2.2 million (flat year-over-year, +12% sequentially), while nine-month sales rose 13% to $6.6 million; gross margin expanded to 69.5% in Q3 and 71.7% year-to-date, driven by higher prices and contract manufacturing efficiencies.
Operating expenses fell 13% year-over-year to $3.6 million, narrowing the operating loss by 24% to $2.1 million, though the net loss widened to $2.0 million due to a prior-year noncash warrant gain; cash reserves increased significantly to $8.3 million from $1.1 million at year-end 2025.
Strategic growth was fueled by an 88% year-to-date increase in console unit sales and a 26% pediatric segment revenue rise, supported by new distribution agreements with Atrility Medical and for the Zorro-Flow system, alongside a 510(k) submission to expand Aquadex indications.
Management highlighted a capital-efficient path to growth through an expanded installed base and disciplined cost management, though risks remain regarding commercialization execution and the ability to raise sufficient funds.