Nuwellis (NUWE) Q2 2026 earnings summary

Executive summary

• Net sales increased 14.1% year-over-year for Q2 2026, driven by a 209% rise in console sales and 9% growth in circuits, with U.S. revenue up 17% and a focus on expanding Aquadex utilization, pediatrics, and adult critical care.

• Gross margin improved to 76.1% in Q2 2026 from 55.5% in Q2 2025, attributed to pricing, product mix, and transition to contract manufacturing.

• Expanded installed base with nine consoles sold in Q2 and 24 in the first half, supporting future recurring revenue and growth in new pediatric programs.

• Raised $12.7 million in gross proceeds through June and July financings and warrant exercises, extending cash runway through Q2 2027.

• Mike McCormick was appointed President and CEO effective June 30, 2026.

Financial highlights

• Q2 2026 revenue was $1.97 million, up 14% year-over-year; first half revenue reached $4.37 million, a 20% increase year-over-year.

• Gross profit for Q2 was $1.5 million, with gross margin at 76.1%.

• Operating expenses were $4.7 million in Q2, up from $3.9 million year-over-year, reflecting investments in commercial expansion and product development.

• Net loss for Q2 was $4.8 million, significantly reduced from $12.6 million in the prior year quarter.

• Cash and cash equivalents stood at $3.9 million as of June 30, 2026; no debt.

Outlook and guidance

• Focus remains on double-digit revenue growth, maintaining strong gross margins, expanding recurring revenue, and disciplined capital allocation.

• Cash runway extended through Q2 2027, but additional capital will be needed to fund operations through year-end 2027.

• No formal financial guidance provided.