NASDAQ : NUWE
Nuwellis, Inc. — Financial statements
Healthcare · Medical Devices · United States
Last price 5.78 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.34M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Nuwellis, Inc. (NUWE) reported revenue of 9.01M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 9.01M | 8.27M | 8.74M | 8.86M | 8.54M | 7.92M |
| Cost of Revenue | 2.73M | 3.15M | 2.91M | 3.88M | 3.79M | 3.43M |
| Gross Profit | 6.28M | 5.12M | 5.83M | 4.98M | 4.75M | 4.49M |
| Selling, General & Admin | 15.00M | 13.52M | 13.46M | 17.19M | 17.58M | 19.04M |
| Research & Development | 4.16M | 2.71M | 3.21M | 5.42M | 4.34M | 4.98M |
| Operating Expenses | 19.16M | 16.23M | 16.66M | 22.61M | 21.93M | 24.02M |
| Operating Income | -12.88M | -11.11M | -10.84M | -17.63M | -17.17M | -19.53M |
| Interest Expense | -6.08M | -10.55M | -5.61M | -3.48M | -9.25M | |
| Other Non Operating Income (Expenses) | 7.63M | 4.14M | 4.54M | 912.00K | 11.90M | -19.00K |
| EBT Excluding Unusual Items | -11.32M | -17.52M | -11.91M | -20.20M | -14.52M | -19.55M |
| Other Unusual Items | 750.00K | |||||
| Pretax Income | -11.32M | -17.52M | -11.16M | -20.20M | -14.52M | -19.55M |
| Income Tax Expense | 5.00K | 5.00K | 8.00K | 9.00K | 9.00K | |
| Net Income | -11.32M | -17.52M | -11.16M | -20.21M | -14.53M | -19.55M |
| Preferred Dividends & Other Adjustments | -5.00K | -4.00K | -541.00K | 2.42M | 75.00K | |
| Net Income to Common | -11.32M | -17.52M | -10.62M | -22.63M | -14.53M | -19.63M |
| Free Cash Flow | -12.59M | -10.90M | -9.65M | -18.09M | -15.27M | -18.06M |
| Gross Margin | 69.69% | 61.96% | 66.66% | 56.22% | 55.66% | 56.70% |
| Operating Margin | -142.87% | -134.29% | -124.01% | -198.89% | -201.00% | -246.51% |
| Profit Margin | -125.57% | -211.81% | -121.56% | -255.27% | -170.02% | -247.81% |
| Free Cash Flow Margin | -139.68% | -131.80% | -110.42% | -204.04% | -178.75% | -228.03% |
| EBITDA | -12.72M | -10.91M | -10.53M | -17.27M | -16.80M | -19.04M |
| EBITDA Margin | -141.19% | -131.87% | -120.46% | -194.81% | -196.64% | -240.35% |
| D&A For EBITDA | 152.00K | 200.00K | 310.00K | 362.00K | 372.00K | 488.00K |
| EBIT | -12.88M | -11.11M | -10.84M | -17.63M | -17.17M | -19.53M |
| EBIT Margin | -142.87% | -134.29% | -124.00% | -198.89% | -201.00% | -246.51% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.92M | 1.08M | 5.09M | 3.80M | 17.74M | 8.74M |
| Short-Term Investments | 569.00K | 15.46M | ||||
| Cash & Short-Term Investments | 3.92M | 1.08M | 5.09M | 3.80M | 18.31M | 24.20M |
| Receivables | 1.54M | 1.49M | 1.73M | 1.95M | 1.41M | 750.00K |
| Inventory | 1.74M | 1.91M | 1.72M | 2.00M | 2.66M | 2.84M |
| Prepaid Expenses | 690.00K | 698.00K | 315.00K | 461.00K | 396.00K | 328.00K |
| Total Current Assets | 7.90M | 5.19M | 8.86M | 8.21M | 22.77M | 28.13M |
| Property, Plant & Equipment | 526.00K | 661.00K | 988.00K | 1.44M | 1.88M | 2.27M |
| Other Intangible Assets | 102.00K | |||||
| Other Long-Term Assets | 599.00K | 271.00K | 21.00K | 120.00K | 21.00K | 21.00K |
| Total Assets | 9.13M | 6.12M | 9.86M | 9.77M | 24.67M | 30.42M |
| Accounts Payable | 2.90M | 2.23M | 1.64M | 2.38M | 2.25M | 1.41M |
| Accrued Expenses | 731.00K | 460.00K | 640.00K | 525.00K | 2.16M | 1.66M |
| Current Portion of Leases | 200.00K | 261.00K | 238.00K | 216.00K | 224.00K | 193.00K |
| Other Current Liabilities | 181.00K | 85.00K | 41.00K | 51.00K | 58.00K | 36.00K |
| Total Current Liabilities | 4.01M | 3.03M | 2.56M | 3.17M | 4.69M | 3.31M |
| Long-Term Leases | 67.00K | 307.00K | 544.00K | 760.00K | 984.00K | |
| Other Long-Term Liabilities | 7.16M | 389.00K | 468.00K | 2.84M | 6.87M | 179.00K |
| Total Liabilities | 11.17M | 3.49M | 3.33M | 6.56M | 12.32M | 4.47M |
| Additional Paid-In Capital | 323.62M | 318.93M | 305.37M | 290.65M | 279.74M | 278.87M |
| Retained Earnings | -325.68M | -316.31M | -298.79M | -287.63M | -267.42M | -252.89M |
| Comprehensive Income & Other | 8.00K | 8.00K | -47.00K | -31.00K | 38.00K | -35.00K |
| Total Common Equity | -2.06M | 2.62M | 6.53M | 2.99M | 12.36M | 25.95M |
| Shareholders' Equity | -2.04M | 2.63M | 6.53M | 3.21M | 12.36M | 25.95M |
| Total Liabilities & Equity | 9.13M | 6.12M | 9.86M | 9.77M | 24.67M | 30.42M |
| Total Debt | 200.00K | 328.00K | 545.00K | 760.00K | 984.00K | 1.18M |
| Net Cash (Debt) | 3.72M | 757.00K | 4.55M | 3.04M | 17.32M | 23.03M |
| Working Capital | 3.89M | 2.15M | 6.30M | 5.04M | 18.08M | 24.82M |
| Tangible Book Value | -2.16M | 2.62M | 6.53M | 2.99M | 12.36M | 25.95M |
| Machinery | 1.84M | 1.76M | 1.74M | 1.74M | 1.69M | |
| Leasehold Improvements | 253.00K | 253.00K | 253.00K | 253.00K | 245.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -11.32M | -17.52M | -11.16M | -20.21M | -14.53M | -19.55M |
| Depreciation & Amortization | 369.00K | 417.00K | 310.00K | 362.00K | 372.00K | 488.00K |
| Loss (Gain) From Sale of Assets | 99.00K | |||||
| Loss (Gain) From Sale of Investments | -65.00K | 124.00K | 13.00K | |||
| Stock-Based Compensation | 90.00K | 127.00K | 478.00K | 670.00K | 862.00K | 1.31M |
| Other Operating Activities | -796.00K | 6.42M | 992.00K | 2.73M | -2.58M | |
| Change in Accounts Receivable | -352.00K | 234.00K | 224.00K | -545.00K | -656.00K | 155.00K |
| Change in Inventory | 336.00K | -192.00K | 279.00K | 697.00K | 140.00K | -143.00K |
| Change in Accounts Payable | -136.00K | 406.00K | -626.00K | -1.50M | 1.28M | -211.00K |
| Change in Other Net Operating Assets | -652.00K | -701.00K | -182.00K | -72.00K | -164.00K | 95.00K |
| Operating Cash Flow | -12.46M | -10.81M | -9.59M | -17.94M | -15.15M | -17.84M |
| Capital Expenditures | -125.00K | -90.00K | -60.00K | -149.00K | -122.00K | -219.00K |
| Cash Acquisitions | -164.00K | |||||
| Sale (Purchase) of Intangibles | -90.00K | -99.00K | ||||
| Investment in Securities | 578.00K | 14.85M | -15.50M | |||
| Investing Cash Flow | -379.00K | -90.00K | -60.00K | 330.00K | 14.73M | -15.72M |
| Long-Term Debt Repaid | -28.00K | -26.00K | -26.00K | |||
| Net Debt Issued (Repaid) | -28.00K | -26.00K | -26.00K | |||
| Issuance of Common Stock | 12.36M | 6.94M | 7.10M | 2.23M | 9.45M | 27.90M |
| Other Financing Activities | 3.36M | |||||
| Financing Cash Flow | 12.36M | 6.94M | 10.96M | 3.68M | 9.42M | 27.87M |
| Foreign Exchange Rate Adjustments | 62.00K | 55.00K | -16.00K | -13.00K | -7.00K | -4.00K |
| Net Cash Flow | -422.00K | -3.90M | 1.29M | -13.94M | 8.99M | -5.70M |
| Free Cash Flow | -12.59M | -10.90M | -9.65M | -18.09M | -15.27M | -18.06M |
| Free Cash Flow Margin | -139.68% | -131.80% | -110.42% | -204.04% | -178.75% | -228.03% |
| Levered Free Cash Flow | -11.44M | -12.97M | -9.54M | -13.87M | -14.59M | -10.68M |
| Unlevered Free Cash Flow | -7.64M | -6.37M | -6.03M | -11.69M | -8.81M | -10.68M |
| Cash Income Tax Paid | 7.00K | 7.00K | 7.00K | 12.00K | 9.00K | 11.00K |
| Change in Working Capital | -804.00K | -253.00K | -305.00K | -1.42M | 598.00K | -104.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.10M | 2.89M | 4.07M | 1.88M | 4.96M | |
| Enterprise Value | -1.62M | 181.30K | 2.76M | -2.23M | -6.05M | |
| Last Close Price | 5.68 | 548.10 | 14,685.34 | 268,985.00 | 4,963,882.00 | 52,777,778.00 |
| PS Ratio | 0.24 | 0.35 | 0.47 | 0.21 | 0.58 | |
| PB Ratio | 1.10 | 0.62 | 0.59 | 0.40 | ||
| P/TBV Ratio | 1.10 | 0.62 | 0.63 | 0.40 | ||
| EV/Sales Ratio | 0.02 | 0.32 | ||||
| Debt / Equity Ratio | -0.10 | 0.12 | 0.08 | 0.24 | 0.08 | 0.04 |
| Net Debt / Equity Ratio | 1.82 | -0.29 | -0.70 | -0.95 | -1.40 | -0.89 |
| Net Debt / EBITDA Ratio | 0.29 | 0.07 | 0.43 | 0.18 | 1.03 | 1.21 |
| Net Debt / FCF Ratio | 0.30 | 0.07 | 0.47 | 0.17 | 1.13 | 1.27 |
| Asset Turnover | 0.98 | 1.03 | 0.89 | 0.52 | 0.31 | 0.31 |
| Inventory Turnover | 1.45 | 1.73 | 1.57 | 1.67 | 1.38 | 1.18 |
| Quick Ratio | 1.36 | 0.85 | 2.67 | 1.81 | 4.21 | 7.55 |
| Current Ratio | 1.97 | 1.71 | 3.46 | 2.59 | 4.86 | 8.51 |
| Return on Equity (ROE) | -382.55% | -229.24% | -259.62% | -75.84% | -92.53% | |
| Return on Assets (ROA) | -87.83% | -86.86% | -69.00% | -63.98% | -38.96% | -48.40% |
| Return on Capital Employed (ROCE) | -251.60% | -359.90% | -148.40% | -267.20% | -85.90% | -72.00% |
| Earnings Yield | -525.96% | -607.04% | -274.47% | -1,073.29% | -292.61% | |
| FCF Yield | -585.02% | -377.65% | -237.25% | -960.54% | -307.64% |