Quarterly ResultMay 12, 2026, 08:02 AM
Nuwellis Acquires Rendiatech; Q1 Net Sales Up 26% to $2.4M
AI Summary
Nuwellis, Inc. reported strong financial results for the first quarter ended March 31, 2026, with net sales increasing 26% to $2.4 million and gross margin improving to 70.1%. The company also completed the acquisition of Rendiatech, enhancing its product development portfolio with automated kidney-function monitoring. Additionally, Nuwellis announced key management appointments, expanded commercial coverage, and received two new U.S. patents, signaling significant progress in its strategic execution and cardiorenal strategy.
Key Highlights
- Completed the acquisition of Rendiatech, adding automated kidney-function monitoring capabilities.
- Net sales increased 26% to $2.4 million for Q1 2026, up from $1.9 million in prior year.
- Gross margin improved to 70.1% in Q1 2026, a 14% increase compared to prior year.
- Operating expenses were approximately $6.0 million, compared to $4.1 million in prior year.
- Net loss attributable to common shareholders was approximately $4.3 million.
- Appointed Carisa Schultz as CFO and Dr. Stuart L. Goldstein as Director of Clinical Strategy.
- Received issuance of a new U.S. patent for pediatric extracorporeal therapy safety design.
- Cash, cash equivalents, and restricted cash were approximately $2.2 million as of March 31, 2026.