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Mar 31, 2025
Nuwellis Q1 2025 Earnings Report
Nuwellis posted modest revenue growth and narrowed losses in Q1 2025, with notable reductions in operating expenses.
Key Takeaways
Nuwellis reported a 3% increase in revenue and significant improvement in operating loss for Q1 2025. Strategic cost reductions and increased reimbursement positioning supported continued momentum in both pediatric and outpatient segments.
Revenue increased 3% year-over-year to $1.9 million.
Gross margin declined to 56.0% due to unfavorable manufacturing variances.
Operating loss narrowed to $3.1 million, down from $4.7 million in Q1 2024.
Net loss per share improved significantly to $(0.69) from $(24.11).
Forward Guidance
Nuwellis plans to expand Aquadex adoption across inpatient and outpatient settings leveraging improved reimbursement and pediatric performance.
Positive Outlook
- Increased CMS reimbursement rate for outpatient Aquadex therapy.
- Strong pediatric revenue growth of 38% YoY.
- 4% increase in consumables utilization YoY.
- SG&A expenses reduced by 22% YoY.
- Operating expenses down 31%, enhancing financial discipline.
Challenges Ahead
- Gross margin declined from 64.1% to 56.0%.
- International sales declined YoY.
- R&D spending reduced significantly, reflecting lower project activity.
- Net cash used in operations remained high at $2.5 million.
- No financing activity during the quarter, limiting capital influx.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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