Nuwellis Q2 rev. down 12% YoY, strategic realignment underway.

• Nuwellis reports Q2 2025 financial results and business update. • Strategic realignment focuses on pediatric and cardiac surgery care. • Expansion in outpatient heart failure. • Temporary revenue disruption due to sterilization vendor issue. • Swift action to prioritize patient care and protect vulnerable populations.

Minneapolis, Aug. 14, 2025 – Nuwellis, Inc. (Nasdaq: NUWE), a commercial-stage medical technology company dedicated to transforming care for fluid overload patients, reported its second-quarter 2025 financial results and provided a business update. Despite a temporary revenue disruption due to an industry-wide sterilization vendor issue, the company demonstrated operational resilience and strategic focus.

Key Highlights:

- Revenue: Revenue for the second quarter of 2025 was $1.7 million, a 22% decline from $2.2 million in Q2 2024. The decrease was primarily due to a product backorder caused by an industry-wide sterilization delay.
- Gross Margin: Gross margin was 55.5% in Q2 2025, compared to 67.2% in Q2 2024. The margin contraction was primarily driven by under-absorption of fixed overhead due to lower production volumes.
- Operating Expenses: Selling, general and administrative (SG&A) expenses were $3.2 million, flat from Q2 2024. Research and development (R&D) expenses totaled $675K, a 21% increase from $558K in the same period last year.
- Operating Loss: The operating loss for the quarter was $2.9 million, a 23% increase from $2.3 million in Q2 2024.
- Net Loss: Net loss attributable to common shareholders was $12.6 million, or a loss of $60.99 per basic and diluted share, compared to $7.7 million, or a loss of $791.82 per share in Q2 2024.
- Cash Position: As of June 30, 2025, the company had $4.5 million in cash and cash equivalents and remained debt-free.

Business Update:

Nuwellis continued to advance its strategic realignment during the second quarter, focusing on high-impact growth areas in pediatric and cardiac surgery care. The company successfully grew to 47 pediatric centers that adopted Aquadex therapy as part of their fluid management approach, with the addition of two new centers across the Southeastern United States. Nuwellis also expanded its intellectual property portfolio with the granting of a new U.S. patent covering the fluid bag design that passively drains once full.

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 future growth and market opportunities. Forward-looking statements are based on current assumptions and expectations and involve risks and uncertainties that could cause actual results to differ materially. These risks are detailed in the Company's filings with the Securities and Exchange Commission.

Conference Call and Webcast Information:

Nuwellis will host a conference call and webcast today at 9:00 AM ET to discuss its first quarter results and recent business developments. To access the live webcast, please visit the Investors page of the Nuwellis website at https://ir.nuwellis.com. Alternatively, participants may dial 1-800-245-3047 (U.S.) or 1-203-518-9765 (International) and use conference ID: NUWEQ2. A replay will be available following the event.

About Nuwellis:

Nuwellis, Inc. is a commercial-stage medical device company dedicated to transforming the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company’s focus is on commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headquartered in Minneapolis, Minnesota, with a wholly owned subsidiary in Ireland. For more information, visit ir.nuwellis.com or follow us on LinkedIn or X.

References:

[1] https://www.globenewswire.com/news-release/2025/08/14/3133455/26106/en/Nuwellis-Inc-Reports-Second-Quarter-2025-Financial-Results-and-Business-Highlights.html