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Sep 30, 2023
Nuwellis Q3 2023 Earnings Report
Nuwellis reported a revenue increase of 17% compared to the prior-year period, driven by a 26% increase in circuit sales.
Key Takeaways
Nuwellis, Inc. reported a 17% increase in revenue for the third quarter of 2023 compared to the prior-year period. The growth was primarily driven by a 26% increase in circuit sales, reflecting increased therapy utilization. The company's net loss decreased compared to the prior year, and they are progressing with strategic collaborations.
Revenue increased by 17% compared to the prior-year period, reaching $2.4 million.
Therapy utilization increased by 26% over the prior year.
Revenue in Heart Failure, Critical Care, and Pediatrics increased by 27%, 16%, and 9%, respectively, compared to the same period last year.
Net loss decreased to $3.4 million, or $1.81 per share, compared to $3.9 million, or $36.72 per share, in the prior-year period.
Forward Guidance
The company did not include forward guidance in its earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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