In This Article:
-
Revenue: $2.3 million for Q4 2024, a 9% decrease year-over-year.
-
Consumables Utilization: Increased by 21% in Q4 2024.
-
Critical Care Revenue Growth: 35% year-over-year increase in Q4 2024.
-
Heart Failure Revenue: Decreased by 36% in Q4 2024.
-
Pediatrics Revenue: Decreased by 20% in Q4 2024.
-
Gross Margin: 58.4% in Q4 2024, up from 54.4% in the prior-year quarter.
-
Selling, General, and Administrative Expenses: $2.9 million in Q4 2024, a 19% decrease from Q4 2023.
-
Research and Development Expense: $831,000 in Q4 2024, down from $1.4 million in Q4 2023.
-
Total Operating Expenses: $3.7 million in Q4 2024, a 25% decrease from Q4 2023.
-
Operating Loss: $2.4 million in Q4 2024, improved from $3.6 million in Q4 2023.
-
Net Loss Attributable to Common Shareholders: $1.5 million or $0.44 per share in Q4 2024, compared to $7.9 million or $54.48 per share in Q4 2023.
-
Cash and Cash Equivalents: $5.1 million as of December 31, 2024, with no debt.
Release Date: March 11, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Nuwellis Inc (NASDAQ:NUWE) reported a 21% increase in consumables utilization, indicating growing adoption of their Aquadex system.
-
The company achieved 35% year-over-year revenue growth in their critical care business, driven by higher console sales and consumable utilization.
-
A recent peer-reviewed publication in JACC: Heart Failure demonstrated a 60% reduction in heart failure events at 30 days for patients using Aquadex therapy compared to traditional IV diuretics.
-
Nuwellis received a favorable reimbursement change from CMS, increasing the facility reimbursement fee for Aquadex ultrafiltration therapy nearly fourfold, effective January 1, 2025.
-
The company has no debt on its balance sheet, providing financial stability and flexibility for future initiatives.
Negative Points
-
Nuwellis Inc (NASDAQ:NUWE) experienced a 9% decline in revenue for the fourth quarter of 2024 due to lower US console sales and international sales.
-
Heart failure and pediatric customer categories saw revenue declines of 36% and 20%, respectively, due to lower console sales.
-
The company had a voluntary recall of specific lots of blood circuit units, resulting in a non-recurring expense of approximately $150,000.
-
Operating loss for the fourth quarter was $2.4 million, although this was an improvement from the previous year.
-
The REVERSE-HF trial enrollment and the start of the Vivian clinical trial remain difficult to gauge, indicating potential delays in clinical validation efforts.