Nuwellis delivered fourth-quarter revenue of $2.4 million, up 4% year-over-year and 9% sequentially. U.S. console sales surged 208% to eight units, average circuit selling price rose 11%, and international sales jumped 59%. Heart Failure revenue grew 48% and Pediatrics 16%, lifting gross margin to 68.2% while operating expenses reached $4.1 million and net loss was $2.4 million.

Full-year revenue totaled $8.3 million, a 5% decline from 2024, as Heart Failure rose 8% and Pediatrics 14% but Critical Care fell 19%. Annual gross margin stood at 62.0% versus 64.9% prior year, operating expenses fell to $16.2 million and net loss was $17.5 million, which included $6.4 million of warrant valuation expense. Cash and equivalents were $1.2 million with no debt as of December 31, 2025.

In January 2026, the company closed a $5.0 million private placement and warrant inducement transaction to bolster its capital. Carisa Schultz was appointed Chief Financial Officer effective February 2, 2026. The firm also executed a definitive stock purchase agreement to acquire Rendiatech, aiming to expand its cardiorenal portfolio.

Leadership emphasizes integration of the Rendiatech acquisition and advancing Vivian, a novel pediatric solution supported by NIH grant funding. Management will focus on deeper utilization within targeted accounts, consistent commercial execution and leveraging new capital and leadership to drive growth throughout 2026.