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Dec 31, 2022
Nuwellis Q4 2022 Earnings Report
Nuwellis experienced revenue growth and margin expansion.
Key Takeaways
Nuwellis reported a 42% increase in revenue for Q4 2022, reaching $2.3 million, and a gross margin of 56.9%, up 250 basis points year-over-year. The company's net loss for the quarter was $1.9 million, which includes $2.6 million of Other Income related to the year-end revaluation of warrants.
Revenue increased by 42% to $2.3 million compared to the prior-year period.
Gross margin improved to 56.9%, a 250 basis point increase from the same period last year.
Pediatrics, Heart Failure, and Critical Care segments led revenue growth, increasing by approximately 92%, 47%, and 24%, respectively.
Cash, cash equivalents, and marketable securities totaled $18.3 million with no debt as of December 31, 2022.
Nuwellis
Nuwellis
Forward Guidance
Nuwellis is focused on executing key strategic growth initiatives, including expanding the commercial team, investing in market penetration, and leveraging clinical evidence to drive sales momentum in 2023.
Positive Outlook
- Targeted expansion of the commercial team
- Investments in market penetration initiatives
- Leverage of growing body of clinical evidence
- Drive continued sales momentum
- Making Aquadex the standard of care for patients with fluid overload