Nuwellis (NUWE) Q1 2026 earnings summary

Executive summary

• Net sales reached $2.4 million in Q1 2026, up 26% year-over-year, driven by strong console and circuit sales and increased Aquadex system placements and utilization.

• Completed the acquisition of Rendiatech, adding automated kidney function monitoring to the product portfolio.

• Leadership changes included the appointment of a new CFO, Director of Clinical Strategy, and board members, with expanded commercial coverage and experienced sales leaders.

• Strategic realignment included a full manufacturing transition and international exit, focusing exclusively on the U.S. market.

• Received new U.S. patents for pediatric extracorporeal therapy safety and ultrafiltration technologies.

Financial highlights

• Revenue for Q1 2026 was $2.4 million, up 26% year-over-year from $1.9 million.

• Gross margin improved to 70.1%, a 14% increase year-over-year, driven by pricing, product mix, and contract manufacturing.

• Operating expenses rose to $6.3 million from $4.1 million, mainly due to higher sales headcount, compensation, and R&D costs.

• Net loss attributable to common shareholders was $4.5 million for Q1 2026.

• Cash and equivalents at quarter-end were $2.2 million, with no debt.

Outlook and guidance

• Developing a plan to reduce monthly cash burn by approximately 50% by Q4 2026.

• Existing capital resources expected to support operations through Q2 2026; additional capital will be needed to fund operations through year-end.

• Focus remains on disciplined capital allocation, gross margin consistency, commercial execution, and integration of Rendiatech.

• New product from Rendiatech acquisition expected to launch in the U.S. in 2027.