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Sep 30, 2022
Nuwellis Q3 2022 Earnings Report
Nuwellis experienced revenue growth and made progress on strategic initiatives.
Key Takeaways
Nuwellis reported an 11% increase in revenue compared to the same quarter last year, driven by strategic initiatives. The company's net loss decreased compared to the prior year, and cash and cash equivalents totaled $12.1 million at the end of the quarter.
Revenue increased by 11% year-over-year to $2.1 million.
Gross margin was 61%, consistent with the prior year.
Three additional sites were activated for the REVERSE-HF clinical study.
Closed an underwritten public offering on October 18, with $11.0 million of gross proceeds
Forward Guidance
Nuwellis anticipates strong growth in 2023 and beyond, driven by expansion of the field sales team, market penetration initiatives, and a growing body of clinical evidence.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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