Nuwellis (NUWE) Q3 2026 earnings summary

Executive summary

• Q3 net sales were $2.212M, essentially flat YoY; 9M sales rose 12.6% to $6.584M, with console sales nearly doubling.

• Priorities include increasing Aquadex utilization and recurring circuit revenue, expanding adult critical care, and broadening the cardiorenal portfolio.

Financial highlights

• Q3 net sales were $2.212M vs. $2.217M YoY and rose 12% sequentially; 9M sales were $6.584M vs. $5.846M.

• Q3 gross profit was $1.538M vs. $1.445M; gross margin was 69.5% vs. 65.2%, up 430 bps.

• Q3 operating expenses fell 13% to $3.591M from $4.142M; operating loss narrowed 24% to $2.053M from $2.697M.

• Q3 net loss was $1.969M vs. net income of $468K; prior-year income included a significant noncash warrant-liability fair-value gain.

• 9M net loss narrowed to $11.338M from $15.099M, while operating cash use rose to $9.272M from $7.780M.

Outlook and guidance

• Cash and cash equivalents were $8.290M at September 30; cash plus restricted cash totaled $8.4M, expected to fund operations through Q2 2027, but additional capital is needed through FY 2027-end.

• Management expects near-term losses and continued financing needs; its plans do not alleviate substantial doubt about going concern for at least twelve months.

• Commercial priorities include growing recurring circuit revenue from a larger console base and leveraging existing sales infrastructure for expanded products.

• Zorro-Flow and Aquadex SmartView launches are expected in Q1 2027; Pressure IQ is expected in H1 2027.