Nuwellis Q2 2023 Earnings Report
Key Takeaways
Nuwellis, Inc. reported second-quarter 2023 financial results, featuring a revenue of $2.1 million, a gross margin of 55.3%, and a net loss of $4.8 million. The company highlighted a rebound in business, particularly in pediatrics, and a collaboration agreement with DaVita Inc.
Revenue reached $2.1 million, a 14% increase over the prior quarter but a 6% decrease year-over-year.
Utilization increased 14% over the same period last year.
Gross margin improved to 55.3%, a 730-basis point increase compared to the previous year.
Entered into a Supply and Collaboration Agreement with DaVita Inc.
Nuwellis
Nuwellis
Forward Guidance
Nuwellis is actively planning and looks forward to initiating a pilot program with DaVita to potentially help accelerate clinical adoption of Aquadex ultrafiltration therapy when first-line medical treatments are ineffective.