Nuwellis Reports Q3 2025 Financial Results with $2.2M in Net Sales and Increased Net Loss

Nuwellis, Inc. reported its financial results for the third quarter of 2025, revealing a net sales figure of $2.2 million, a decrease from $2.4 million in the same period last year. For the nine months ending September 30, 2025, total revenue was $5.8 million, down from $6.4 million in 2024. The company experienced a gross profit of $1.4 million for the quarter, compared to $1.7 million in the prior year, reflecting a gross profit margin of 65.2%. The net loss attributable to common shareholders for the third quarter was $469,000, a significant decline from a profit of $2.4 million in the same quarter of 2024. For the nine-month period, the net loss increased to $15.1 million from $9.7 million year-over-year.

The company’s financial position showed a decline in total assets, which decreased to $8.0 million as of September 30, 2025, from $9.9 million at the end of 2024. Current liabilities rose to $3.5 million, up from $2.6 million, primarily due to increased accounts payable and accrued liabilities. Nuwellis reported an accumulated deficit of $313.9 million, indicating ongoing challenges in achieving profitability. The company has been actively managing its cash burn rate, which was reduced by approximately 40% in 2024, and it ended the quarter with $3.1 million in cash and cash equivalents.

Strategically, Nuwellis has made significant operational changes, including the decision to exit international markets to focus on the U.S., where it sees stronger growth potential. This shift is expected to streamline operations and enhance market impact. The company also announced a partnership with KDI Precision Manufacturing to improve its manufacturing capabilities, which includes transitioning assembly responsibilities for key products. Additionally, Nuwellis is in discussions to acquire Rendiatech, Ltd., a move aimed at expanding its technology platform into continuous renal health monitoring.

In terms of product performance, the company noted a 15% increase in circuit sales, although this was offset by a decrease in console average selling prices and a decline in international operations. The company has also terminated its REVERSE-HF clinical trial to reallocate resources towards more promising areas, which is anticipated to save approximately $4 million over the next two and a half years. Looking ahead, Nuwellis plans to continue seeking additional capital to support its growth initiatives, although it acknowledges the uncertainty surrounding its ability to raise funds in the current market environment. The company remains focused on expanding the adoption of its Aquadex System, which is critical for its long-term success.