Nuwellis, Inc. Reports First Quarter 2025 Financial Results and Business Highlights

Core Insights - Nuwellis, Inc. reported a revenue of $1.9 million for Q1 2025, marking a 3% increase compared to Q1 2024, driven by a 4% growth in consumables utilization and higher U.S. console sales, despite a decline in international sales [3][9] - The company is focusing on expanding access to Aquadex therapy, particularly in outpatient settings, supported by higher reimbursement rates and clinical data [2][3] - Nuwellis achieved a significant reduction in operating expenses, down 31% to $4.1 million, leading to an improved operating loss of $3.1 million compared to $4.7 million in the prior year [6][9] Financial Performance - Gross margin for Q1 2025 was 56.0%, down from 64.1% in the prior-year quarter, primarily due to unfavorable manufacturing variances and lower fixed overhead absorption [4] - Selling, general, and administrative (SG&A) expenses decreased by 22% to $3.6 million, driven by lower headcount and reduced professional services [5] - Research and development (R&D) expenses were $550 thousand, a significant decrease from $1.3 million in the prior-year quarter, reflecting reduced staffing and project spending [5] Cash Position - As of March 31, 2025, Nuwellis had $2.6 million in cash and cash equivalents and remained debt-free [7] Market Opportunities - Effective January 1, 2025, CMS reassigned Aquadex to a higher outpatient reimbursement level, increasing the facility fee nearly four-fold to $1,639 per day, which is expected to enhance outpatient opportunities [9]