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Sep 30, 2020
Nuwellis Q3 2020 Earnings Report
Revenue increased by 52% year-over-year, driven by growth in pediatric accounts and Aquadex SmartFlow upgrades and the company regained compliance with NASDAQ's minimum bid price requirement.
Key Takeaways
CHF Solutions reported a 52% increase in revenue for the third quarter of 2020, driven by increased utilization in pediatric accounts and the addition of six new pediatric hospital accounts. The company's gross margin decreased due to customer incentives for console upgrades and a higher mix of international distributor revenue. They also regained compliance with NASDAQ's minimum bid price requirement.
Revenue for Q3 2020 was $1.9 million, a 52% increase compared to the prior year period.
Increased Aquadex™ therapy utilization in existing pediatric hospital accounts and opened 6 new pediatric hospital accounts.
Aquadex product line was added to the Federal Supply Schedule, expanding access to all federal agencies.
Cash and cash equivalents totaled $17.9 million with no debt as of September 30, 2020.
Forward Guidance
No forward guidance provided in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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