Nuwellis Q2 2024 Earnings Report
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.
Nuwellis
Nuwellis
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.