Nuwellis, Inc. ( (NUWE) ) has released its Q4 earnings. Here is a breakdown of the information Nuwellis, Inc. presented to its investors.
Nuwellis, Inc. is a commercial-stage medical device company specializing in ultrafiltration therapy for patients suffering from fluid overload, with its flagship product being the Aquadex SmartFlow system. The company recently announced its financial results for the fourth quarter and full year of 2024, highlighting significant developments and financial metrics. Key highlights from the report include a four-fold increase in CMS reimbursement for Aquadex Ultrafiltration Therapy, a 60% reduction in heart failure events compared to IV diuretics, and a 26% reduction in operating costs. Despite a 9% decrease in revenue to $2.3 million for the quarter, the company saw a 21% increase in consumables utilization and a 35% growth in revenue from its Critical Care customer category. The gross margin improved to 58.4%, and the company reduced its operating loss to $2.4 million from $3.6 million in the previous year. Nuwellis ended the year with no debt and $5.1 million in cash and cash equivalents. Looking ahead, Nuwellis aims to expand its market presence and drive growth through increased awareness of its Aquadex system and favorable reimbursement changes.