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Dec 31, 2020
Nuwellis Q4 2020 Earnings Report
CHF Solutions reported a strong increase in revenue and gross margin for the fourth quarter of 2020.
Key Takeaways
CHF Solutions, Inc. reported a 49.5% increase in revenue for the fourth quarter of 2020, reaching $2 million. The company's gross margin also improved to 56.1%. The growth was driven by increased utilization in critical care and pediatric accounts. The net loss for the quarter was $3.1 million.
Revenue for Q4 2020 increased by 49.5% year-over-year to $2 million.
Gross margin for Q4 2020 improved to 56.1% from 50.8% in the prior year period.
Critical Care revenue benefited from increased utilization in hospitals treating COVID-19 patients.
Cash and cash equivalents totaled $14.4 million with no debt as of December 31, 2020.
Forward Guidance
The company anticipates accelerating sales growth as a leading and primary provider of ultrafiltration therapy to various specialists when healthcare systems return to some level of the new normal.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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