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Mar 31, 2022
Nuwellis Q1 2022 Earnings Report
Nuwellis reported first quarter results with revenue flat year-over-year but up sequentially, improved gross margin, and reduced SG&A expenses.
Key Takeaways
Nuwellis, Inc. announced its first quarter 2022 financial results, reporting total revenue of $1.9 million, which was even with the prior-year period and up 17% sequentially from the fourth quarter of 2021. The company's gross margin increased to 57.2%, and selling, general, and administrative expenses decreased by 16% compared to the prior-year period. The net loss for the quarter was $4.5 million, an improvement compared to the prior year.
Total revenue for Q1 2022 was $1.9 million, consistent with the prior-year period and a 17% increase sequentially from Q4 2021.
Gross margin improved to 57.2% in Q1 2022, compared to 50.4% in the prior-year period, driven by favorable product sales mix and reduced inventory revaluation expense.
Selling, general, and administrative expenses decreased by 16% to $4.4 million, due to cost vigilance and non-recurring administrative costs in the prior year.
Net loss for Q1 2022 was $4.5 million, compared to a net loss of $5.2 million in the prior-year period.
Forward Guidance
Nuwellis anticipates continued benefits from its strategic execution and sales management system rollout.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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