Nuwellis | 8-K: FY2026 Q2 Revenue: USD 1.969 M

Revenue: As of FY2026 Q2, the actual value is USD 1.969 M.

EPS: As of FY2026 Q2, the actual value is USD -26.64, missing the estimate of USD -23.8.

EBIT: As of FY2026 Q2, the actual value is USD -3.162 M.

Revenue

Nuwellis, Inc. reported net sales of $2.0 million in the second quarter of 2026, a 14% increase compared with $1.7 million in the prior-year period. U.S. revenue specifically increased by 17% during this quarter. For the first six months of 2026, net sales were $4.4 million, a 20% increase from $3.6 million in the prior-year period, with U.S. revenue increasing by 24%. The increase was primarily driven by higher U.S. circuit and console sales, partially offset by lower technical services, catheter, and international sales. First-half revenue grew across all core customer categories, with pediatrics increasing 29%, critical care 28%, and heart failure 27%.

Gross Margin

Gross margin improved to 76% in the second quarter of 2026, up from 56% in the prior-year quarter. This improvement was attributed to pricing adjustments implemented in 2025, a favorable product mix, and a successful transition to contract manufacturing. Cost of goods sold was $471 thousand for Q2 2026, compared to $767 thousand for Q2 2025. Gross profit for Q2 2026 was $1,498 thousand, up from $958 thousand for Q2 2025.

Operating Expenses and Profit

Operating expenses for the second quarter of 2026 were approximately $4.7 million, an increase from $3.9 million in the prior-year period, reflecting planned investments in commercial expansion and product development. Selling, general and administrative expenses were $3,725 thousand in Q2 2026, compared to $3,189 thousand in Q2 2025. Research and development expenses were $942 thousand in Q2 2026, up from $675 thousand in Q2 2025. Loss from operations for Q2 2026 was -$3,169 thousand, compared to -$2,906 thousand in Q2 2025. For the first six months of 2026, total operating expenses were $10,919 thousand, resulting in a loss from operations of -$7,737 thousand.

Net Loss

Nuwellis, Inc. reported a net loss of approximately -$4.8 million for the second quarter of 2026, which included approximately $1.7 million of non-cash warrant valuation expense. This compares to a net loss of -$12.6 million in the prior-year quarter. The net loss attributable to common shareholders for Q2 2026 was -$4,827 thousand, compared to -$12,552 thousand for Q2 2025. For the first six months of 2026, the net loss was -$9,369 thousand, compared to -$15,567 thousand for the same period in 2025.

Cash Flow and Capital Position

As of June 30, 2026, the company had cash and cash equivalents of approximately $3.9 million. Net cash used in operating activities for the six months ended June 30, 2026, was -$6,287 thousand, compared to -$4,633 thousand for the same period in 2025. Net cash used in investing activities for the six months ended June 30, 2026, was -$293 thousand, which included purchases of property and equipment, intangible assets, and cash paid for the Rendiatech acquisition. Net cash provided by financing activities for the six months ended June 30, 2026, was $9,418 thousand. Through second-quarter financing activity and subsequent events, Nuwellis, Inc. raised approximately $12.7 million in gross proceeds, strengthening its cash position and simplifying its capitalization structure. This included $6.0 million raised in June and an additional $3.4 million from a July financing, plus $3.3 million from warrant exercise proceeds subsequent to June 30, 2026. The recent capital raise and warrant exercises extend the company’s cash runway through the second quarter of 2027.

Operational Metrics – Consoles Sold and Pricing

Nuwellis, Inc. sold nine consoles during the second quarter of 2026, compared with three during the second quarter of 2025. For the first half of 2026, 24 consoles were sold, compared with five during the first half of 2025. U.S. circuit and console average selling prices increased approximately 5% and 3%, respectively, compared with the prior-year quarter, due to pricing adjustments implemented in Q3 2025.

Outlook / Guidance

Nuwellis, Inc. is focused on increasing the installed base and utilization of Aquadex, building recurring circuit revenue, and expanding its position in pediatrics and critical care. The company intends to concentrate investments where it has clear clinical differentiation and attractive commercial opportunities. It is also evaluating opportunities to leverage its commercial infrastructure through complementary products and collaborations to deepen relationships within existing hospital customers.