Nuwellis Announces Preliminary Results for Third Quarter of 2024
Nuwellis (NUWE) reported preliminary Q3 2024 results with revenue of approximately $2.4 million. The company achieved 28% revenue growth in the Pediatric category year-over-year and improved gross margin to 70%, up 12.7% from 57.3% in Q3 2023. Operating costs were reduced by approximately 30% compared to the same period. The company ended the quarter with $1.9 million in cash, with quarterly cash burn of $2.5 million. Nuwellis acquired five new accounts and received a $900,000 settlement from SeaStar Medical, with $500,000 already paid.
Nuwellis (NUWE) ha riportato risultati preliminari per il terzo trimestre del 2024 con ricavi di circa $2,4 milioni. L'azienda ha ottenuto una crescita del 28% dei ricavi nella categoria Pediatrica rispetto all'anno precedente e ha migliorato il margine lordo al 70%, in aumento del 12,7% rispetto al 57,3% del terzo trimestre 2023. I costi operativi sono stati ridotti di circa il 30% rispetto allo stesso periodo. L'azienda ha chiuso il trimestre con $1,9 milioni in contante, con un consumo di liquidità trimestrale di $2,5 milioni. Nuwellis ha acquisito cinque nuovi conti e ha ricevuto un risarcimento di $900.000 da SeaStar Medical, di cui $500.000 già pagati.
Nuwellis (NUWE) informó resultados preliminares del tercer trimestre de 2024 con ingresos de aproximadamente $2,4 millones. La empresa logró un crecimiento del 28% en ingresos en la categoría Pediátrica interanualmente y mejoró su margen bruto al 70%, un aumento del 12,7% desde el 57,3% en el tercer trimestre de 2023. Los costos operativos se redujeron en aproximadamente un 30% en comparación con el mismo período. La empresa cerró el trimestre con $1,9 millones en efectivo, con una quema de efectivo trimestral de $2,5 millones. Nuwellis adquirió cinco nuevas cuentas y recibió un acuerdo de $900,000 de SeaStar Medical, de los cuales $500,000 ya se han pagado.
Nuwellis (NUWE)는 2024년 3분기 예비 결과를 보고하며 약 $240만의 수익을 기록했습니다. 이 회사는 소아 카테고리에서 전년 대비 28%의 수익 성장을 달성하고, 총 이익률을 70%로 개선하였으며, 이는 2023년 3분기의 57.3%에서 12.7% 증가한 것입니다. 운영 비용은 같은 기간에 비해 약 30% 감소했습니다. 회사는 분기를 $190만의 현금으로 마감하였으며, 분기 현금 소모는 $250만입니다. Nuwellis는 5개의 새로운 계정을 인수하고 SeaStar Medical로부터 $90만의 합의금을 받았으며, 그 중 $50만이 이미 지급되었습니다.
Nuwellis (NUWE) a annoncé des résultats préliminaires pour le troisième trimestre 2024 avec des revenus d'environ 2,4 millions de dollars. L'entreprise a enregistré une croissance des revenus de 28% dans la catégorie Pédiatrique d'une année sur l'autre et a amélioré sa marge brute à 70%, soit une augmentation de 12,7% par rapport à 57,3% au troisième trimestre 2023. Les coûts d'exploitation ont été réduits d'environ 30% par rapport à la même période. L'entreprise a terminé le trimestre avec 1,9 million de dollars en espèces, avec une consommation de liquidités trimestrielle de 2,5 millions de dollars. Nuwellis a acquis cinq nouveaux comptes et a reçu un règlement de 900 000 dollars de SeaStar Medical, dont 500 000 dollars ont déjà été versés.
Nuwellis (NUWE) hat vorläufige Ergebnisse für das dritte Quartal 2024 mit einem Umsatz von etwa $2,4 Millionen gemeldet. Das Unternehmen erzielte im Vergleich zum Vorjahr ein Umsatzwachstum von 28% im pediatrischen Bereich und verbesserte die Bruttomarge auf 70%, was einem Anstieg von 12,7% gegenüber 57,3% im dritten Quartal 2023 entspricht. Die Betriebskosten wurden im Vergleich zum Vorjahreszeitraum um etwa 30% gesenkt. Das Unternehmen schloss das Quartal mit $1,9 Millionen in bar ab, bei einem vierteljährlichen Cash-Burn von $2,5 Millionen. Nuwellis akquirierte fünf neue Konten und erhielt eine Einigung von $900.000 von SeaStar Medical, wobei bereits $500.000 gezahlt wurden.
- 28% revenue growth in Pediatric customer category YoY
- Gross margin improved to 70% from 57.3% YoY
- 30% reduction in operating costs YoY
- $900,000 settlement agreement with SeaStar Medical
- Acquisition of five new accounts
- High cash burn rate of $2.5 million in Q3
- Low cash position of $1.9 million at quarter end
Insights
The preliminary Q3 results show mixed signals for Nuwellis. While the
The improved gross margin of
The growth in pediatric customer adoption is strategically significant, indicating increasing market acceptance of Aquadex therapy in a specialized segment. The addition of five new accounts suggests positive market penetration, though the scale remains modest. The termination of the SeaStar Medical agreement, while providing immediate cash through settlement, may impact future distribution capabilities and market reach.
The
MINNEAPOLIS, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical device company dedicated to transforming the lives of patients suffering from fluid overload, today announced certain preliminary, unaudited results for the quarter ended September 30, 2024. The company plans to report its complete results and host its earnings conference call for the third quarter of 2024 on November 11, 2024.
Based on preliminary, unaudited results, management expects the Company to report the following in respect of its quarterly period ended September 30, 2024:
- Revenue of approximately
$2.4 million . - Revenue growth of
28% in the Pediatric customer category compared to the same period in 2023. 70% gross margin, a12.7% improvement compared to57.3% in the same period in 2023.- Total operating cost reduction of approximately
30% compared to the same period in 2023.
Cash used in operations for the quarter was approximately
The financial information in this press release is preliminary, unaudited, based on currently available information, and subject to adjustment in the final financial statements to be filed with the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2024.
“We commend the hard work and dedication of the Nuwellis team, fueling steady market adoption of our Aquadex ultrafiltration therapy, with revenue in the third quarter 2024 led by console sales and new account wins in our Pediatric customer category, which posted
About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical device company dedicated to transforming the lives of patients suffering from fluid overload through science, collaboration, and innovation. The Company is focused on commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headquartered in Minneapolis, with a wholly owned subsidiary in Ireland. For more information visit ir.nuwellis.com or visit us on LinkedIn or X.
About the Aquadex SmartFlow® System
The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.
Forward-Looking Statements
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2024 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risks associated with our ability to execute on our commercialization strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
CONTACTS
Investors:
Vivian Cervantes
Gilmartin Group
ir@nuwellis.com
FAQ
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