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NASDAQ · ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS · SMALL CAP

Nuwellis, Inc. NUWE

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$8.3M
▼ 5.4% YoY
$-17.5M
$-10.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company is focused on developing, manufacturing, and commercializing medical devices used in ultrafiltration therapy, including the Aquadex FlexFlow® and the Aquadex SmartFlow® systems (collectively the “Aquadex System”). Please note that selected authors in the citations below are either current consultants to the Company or were previously compensated consultants. We provide healthcare professionals with a reliable, predictable, and easy-to-use mechanical pump and filtration system to remove excess fluid from fluid overloaded patients. We believe that our technology will provide a competitive advantage in the fluid management market by providing improved clinical benefits and reducing the cost of care relative to other treatment alternatives.

Written from the business description in Nuwellis, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 11 March 2026. Every sentence was checked against that document before publication.

Growth

USD 8.3M
Revenue, FY2025 · full 15-year series below
Revenue $M Net income $M
FY2025 · Revenue 8.3 · Net income -17.5
4M8M-10M-20M
201120142017202020232025
Compound annual growth
−1.1%
+2.1%
+63.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.1% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−212 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -134.3% · Net -211.9%
-20000%-40000%
201120182025
ROE
FY2025 · ROE -382.9%
-200%-400%
201120182025
Three returns, three denominators.

Each USD of equity lost 383 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -10.9
-10M-20M
201120182025

Total assetsUSD 6.1M
EquityUSD 2.6M
CashUSD 1.1M
Current ratio1.71×

Equity funds 43% of total assets.

The 15-year record

15 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
NUWE, 15-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.0◌
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0◌−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.00.00.00.00.00.0−0.0−0.0−0.0−0.0−0.0−0.0
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−25.39−353.30−360.06−83.55−285.36−10.67−278.90−42.14−525.01−536.12−44.01−1.51−1.71−1.98−2.98
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————————————
ROE %−382.9−234.6−263.4−75.8−92.5−173.0−457.1−153.6−148.7−226.8◌◌◌◌◌
Shares out B0.000.000.010.000.000.000.000.000.000.000.020.020.020.010.01

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 15 of the 15 fiscal years we could check. Nine checks were skipped: cost of revenue is not tagged before 2016. Eight checks were skipped: the balance sheet is not tagged before 2011. Four checks were skipped: EPS is not tagged before 2011.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityElectromedical & Electrotherapeutic Apparatus
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2011

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