aibioNuwellis reports 26% first-quarter revenue growth and 70.1% gross margin
Tickers NUWE
Net sales were $2.4 million, and the company reported about $2.2 million of cash and no debt at March 31, 2026.
Key facts
- Company
- Nuwellis, Inc. (NASDAQ: NUWE)
- News type
- Company Updates
- Primary source
- Nuwellis, Inc. 8-K (2026-05-12)
Nuwellis, Inc. (Nasdaq: NUWE) reported first-quarter 2026 financial results in a press release filed with a Form 8-K on May 12, 2026. Net sales were $2.4 million for the quarter, a 26% increase compared with the prior-year period. Gross margin improved to 70.1%, which the company attributes to improved pricing, product mix and the transition to contract manufacturing. Net loss attributable to common shareholders was about $4.3 million for the quarter. On March 31, 2026, the company had no debt and cash, cash equivalents and restricted cash of about $2.2 million.
Operating results
Revenue for the first quarter of 2026 was $2.4 million, compared with $1.9 million in the prior-year quarter. The release says growth was driven by continued expansion across all core categories, including pediatric, adult heart failure and critical care. It also cites growth in both system placements and utilization of Aquadex therapy. The release describes the gross margin result as a 14% increase to the prior-year quarter.
Operating expenses were about $6.0 million for the quarter, compared with about $4.1 million in the prior-year quarter. The company attributes the increase to higher sales headcount and to compensation linked to higher sales. The company said the first quarter marked an important step in its transition from strategic reset to execution.
In the release, John Erb, Chairman and Chief Executive Officer, said: "Q1 showed that the strategic reset we made in 2025 is beginning to translate into a more focused and commercially disciplined company." He added that Aquadex gives the company its foundation, pediatrics gives it a distinct growth category, and the Rendiatech acquisition expands its ability to think more broadly across the cardiorenal continuum.
Corporate and product developments
The release lists several first-quarter and recent highlights. The company completed the acquisition of Rendiatech, which adds automated kidney-function monitoring capabilities to its product development portfolio. It appointed Carisa Schultz as Chief Financial Officer and Dr. Stuart L. Goldstein as Director of Clinical Strategy. It appointed Martin J. Emerson to its Board of Directors and reappointed David A. McDonald.
The company also expanded its commercial coverage with a new South Texas territory and the return of experienced sales leaders with deep Aquadex expertise. It received issuance of a new U.S. patent supporting an advanced safety design for pediatric extracorporeal therapy. The U.S. Patent and Trademark Office also issued a Notice of Allowance for a new patent covering the company's dual-lumen midline catheter technology for use in ultrafiltration therapies.
Financial background
The company's annual figures, from its Form 10-K filed on March 11, 2026, show revenue of $8.3 million for the fiscal year ended December 31, 2025, compared with $8.7 million for 2024. Research and development expense was $2.7 million in 2025, compared with $3.2 million in 2024. The net loss was $17.5 million in 2025, compared with $11.2 million in 2024. Cash used in operations was $10.8 million in 2025, compared with $9.6 million in 2024.
What comes next
The release speaks of a move from strategic reset to execution, but the numbers are thin. Net sales of $2.4 million sit against operating expenses of about $6.0 million, up from about $4.1 million, because of added sales headcount. The balance sheet shows an accumulated deficit of $320,650 thousand and cash and cash equivalents of $2,083 thousand at March 31, 2026, while cash used in operations was $10.8 million for 2025. The company has no debt, but its own forward-looking statements list the possibility that it may be unable to raise sufficient funds for operations as a risk. Common shares outstanding rose from 1,686,217 to 2,635,718 during the quarter. The release gives no date for the next results or for any product launch.