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Financials · NUWE

Nuwellis Inc. (NUWE) financials

For the twelve months ended Jun 30, 2026, Nuwellis Inc. reported $9.01M of revenue and -$11.32M of net income.

Revenue, TTM
$9.01M
Revenue growth, YoY
+8.4%
Net income, TTM
-$11.32M
Net margin
-125.6%
Free cash flow, TTM
-$12.61M
Cash
$3.92M
P/S
0.23
Market cap
$2.0M
Annual revenue$8.27M
FY2016FY2025
Annual net income-$17.52M
FY2016FY2025
Annual free cash flow-$10.90M
FY2016FY2025

NUWE revenue and earnings growth

NUWE revenueQ2 2026$1.97M

Quarter YoY
+14.1%
QoQ
-18.1%
FY YoY
-5.4%
5Y CAGR
+2.1%
10Y CAGR
+63.9%

NUWE revenue was $1.97M in fiscal Q2 2026 (ended Jun 30, 2026), up 14.1% from a year earlier and down 18.1% from the prior quarter. For the full fiscal 2025 it was $8.27M, down 5.4% from fiscal 2024. Compound annual growth was +2.1% over 5 years and +63.9% over 10 years. It rose in 8 of the last 10 fiscal years.

NUWE net incomeQ2 2026-$4.83M

NUWE net income was -$4.83M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$12.55M a year earlier. For the full fiscal 2025 it was -$17.52M, compared with -$11.16M in fiscal 2024.

NUWE EPSQ2 2026-$26.64

NUWE diluted EPS was -$26.64 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$888.65.

NUWE free cash flowQ2 2026-$3.18M

NUWE free cash flow was -$3.18M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$2.10M a year earlier. For the full fiscal 2025 it was -$10.90M, compared with -$9.65M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$8.27M$8.74M$8.86M$8.54M$7.92M$7.44M$5.51M$5.00M$3.55M$1.29M
Cost of revenue$3.15M$3.06M$3.88M$3.79M$3.43M$3.38M$2.66M$3.67M$2.76M$713.0K
Gross profit$5.12M$5.68M$4.98M$4.75M$4.49M$4.06M$2.85M$1.33M$790.0K$576.0K
Research and development$2.71M$3.21M$5.42M$4.34M$4.98M$3.67M$4.67M$3.05M$1.48M$8.11M
Selling, general and admin$13.52M$13.46M$17.19M$17.58M$19.04M$17.42M$16.29M$15.31M$10.17M$8.13M
Operating income-$11.11M-$10.99M-$17.63M-$17.17M-$19.53M-$17.03M-$18.11M-$17.04M-$14.81M-$15.66M
Interest expense---------$504.0K
Pre-tax income-$17.52M-$11.16M-$20.20M-$14.52M-$19.55M-$15.83M-$18.11M-$17.03M-$13.38M-$15.85M
Income tax$5.0K$5.0K$8.0K$9.0K$9.0K$9.0K$8.0K$6.0K$6.0K-$54.0K
Net income-$17.52M-$11.16M-$20.21M-$14.53M-$19.55M-$15.84M-$18.11M-$17.03M-$13.38M-$15.79M
EPS, basic-$888.65-$12365.50-$529288.20-$122818.50-$41947920.00-$1568490.00-$40998300.00-$185837400.00-$32414117400.00-$662000976000.00
EPS, diluted-$888.65-$12365.50-$529288.20-$122818.50-$41947920.00-$1568490.00-$40998300.00-$185837400.00-$32414117400.00-$662000976000.00
Diluted shares19,718.429902.88638.181118.2630.46911.2180.5510.0920.0010

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.08M$5.09M$3.80M$17.74M$8.74M$14.44M$1.28M$5.48M$15.60M$1.32M
Receivables$1.49M$1.73M$1.95M$1.41M$750.0K$905.0K$799.0K$786.0K$545.0K$282.0K
Inventory$1.91M$1.72M$2.00M$2.66M$2.84M$2.96M$1.80M$1.66M$1.59M$677.0K
Current assets$5.19M$8.86M$8.21M$22.77M$28.13M$18.54M$4.04M$8.13M$17.86M$2.42M
Goodwill--------$0$189.0K
Total assets$6.12M$9.86M$9.77M$24.67M$30.42M$20.01M$5.60M$8.78M$18.45M$7.47M
Current liabilities$3.03M$2.56M$3.17M$4.69M$3.31M$3.58M$3.35M$2.84M$2.09M$3.26M
Total liabilities$3.49M$3.33M$6.56M$12.32M$4.47M$3.69M$3.61M$2.84M$2.22M$5.23M
Shareholders' equity$2.62M$6.53M$2.99M$12.36M$25.95M$16.32M$1.99M$5.94M$16.24M$1.76M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$10.81M-$9.59M-$17.94M-$15.15M-$17.84M-$16.57M-$16.37M-$14.56M-$11.92M-$16.29M
Capital expenditures$90.0K$60.0K$149.0K$122.0K$219.0K$298.0K$490.0K$198.0K$259.0K$117.0K
Free cash flow-$10.90M-$9.65M-$18.09M-$15.27M-$18.06M-$16.87M-$16.86M-$14.76M-$12.18M-$16.41M
Investing cash flow-$90.0K-$60.0K$330.0K$14.73M-$15.72M-$267.0K-$490.0K-$198.0K-$259.0K-$4.12M
Financing cash flow$6.94M$10.96M$3.68M$9.42M$27.87M$30.02M$12.66M$4.65M$26.45M-$1.36M
Stock-based compensation$127.0K$478.0K$670.0K$862.0K$1.31M$1.35M$1.51M$2.09M$499.0K$949.0K
Depreciation and amortization$200.0K$310.0K$362.0K$372.0K$488.0K$376.0K$239.0K$232.0K$769.0K$697.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-5.4%-1.4%3.8%7.9%6.5%35.0%10.3%40.7%175.6%2084.7%
Gross margin62.0%64.9%56.2%55.7%56.7%54.5%51.7%26.6%22.2%44.7%
Operating margin-134.3%-125.7%-198.9%-201.0%-246.5%-228.8%-328.5%-340.9%-416.9%-1215.1%
Net margin-211.9%-127.7%-228.0%-170.0%-246.9%-212.8%-328.7%-340.8%-376.6%-1225.1%
Free cash flow margin-131.8%-110.4%-204.0%-178.8%-228.0%-226.7%-305.9%-295.3%-342.8%-1273.0%
Return on equity-667.7%-171.0%-675.9%-117.5%-75.4%-97.0%-910.3%-286.9%-82.4%-898.8%
Return on assets-286.4%-113.2%-206.8%-58.9%-64.3%-79.1%-323.3%-194.1%-72.5%-211.4%
Current ratio1.713.462.594.868.505.171.202.868.540.74

Source: XBRL data Nuwellis Inc. files with the SEC, latest filing dated Aug 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-30, first reported Mar 8, 2017; 1-for-20, first reported May 10, 2018; 1-for-14, first reported May 9, 2019; 1-for-30, first reported Nov 12, 2020; 1-for-100, first reported May 9, 2023; 1-for-42, first reported Aug 14, 2025; 1-for-35, first reported Aug 13, 2026.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NUWE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
NUWE$9.01M+8.4%-$11.32M-125.6%$2.0M
BAX$11.61B+5.3%-$723.00M-6.2%$13.32B
FMS€19.63B+1.5%€978.37M5.0%$12.06B
MDT$37.54B+9.8%$5.24B14.0%$129.18B
OM$121.97M+1.6%-$71.14M-58.3%$72.8M

NUWE FAQ

8 questions
  • What is NUWE revenue?
    Nuwellis Inc. (NUWE) reported $9.01M of revenue for the twelve months ended Jun 30, 2026. That is up 8.4% from the year before. Revenue for fiscal 2025 was $8.27M.
  • Is NUWE profitable?
    No. Nuwellis Inc. reported a net loss of $11.32M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does NUWE have?
    Nuwellis Inc. reported $3.92M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is NUWE revenue growing?
    Nuwellis Inc.'s revenue changed -5.4% in fiscal 2025, to $8.27M. Its compound annual growth rate was +2.1% over 5 years and +63.9% over 10 years.
  • What is NUWE gross margin?
    Nuwellis Inc.'s gross profit was $6.28M on $9.01M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 69.7%.
  • What is NUWE free cash flow?
    Nuwellis Inc. generated -$12.61M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$12.46M less capital expenditures.
  • When did NUWE last report financial results?
    The latest statements here come from Nuwellis Inc.'s 10-Q filed on Aug 13, 2026, covering the period ended Jun 30, 2026.
  • Where does this NUWE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Nuwellis Inc. files with the SEC. It is provided for information only and is not investment advice.