Nuwellis Q3 operating loss narrows on margin gains, lower expenses
NUWE•Nuwellis reported flat third-quarter sales of $2.21 million and said its operating loss narrowed 24% year over year, as gross margin expanded and operating expenses fell 13%. Pediatric segment sales rose 20%.
1. Quarterly results
Nuwellis reported third-quarter sales of $2.21 million, flat year over year, and a net loss of $1.97 million. Its operating loss narrowed 24% year over year to $2.05 million.
2. Drivers and outlook
Gross margin expansion, which the company attributed to higher average selling prices and contract manufacturing benefits, and lower expenses contributed to the narrower operating loss. Pediatric segment sales rose 20%, while operating expenses fell 13%. Nuwellis said an expanded Aquadex indication could increase adoption if it receives FDA clearance; it did not provide specific financial guidance for the current quarter or full year.
