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Jun 30, 2024
Nuwellis Q2 2024 Earnings Report
Nuwellis reported a revenue increase driven by consumables utilization and gross margin gains due to manufacturing efficiencies.
Key Takeaways
Nuwellis, Inc. reported a 6% increase in revenue to $2.2 million for the second quarter of 2024, driven by a 30% increase in heart failure and critical care consumables utilization. The company's gross margin improved to 67.2%, and operating expenses decreased by 38%. However, the company reported a net loss of $7.7 million, or $18.85 per share.
Revenue increased by 6% to $2.2 million compared to the second quarter of 2023.
Critical Care revenue experienced a 28% growth compared to the prior year quarter, with Heart Failure consumables utilization growing by 35%.
Gross margin improved to 67.2% compared to 55.3% in the prior-year quarter.
Total operating costs were reduced by 38% compared to the prior-year quarter.
Forward Guidance
The release contains forward-looking statements regarding new market opportunities and anticipated growth in 2024 and beyond. These statements are subject to risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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