Nuwellis (NUWE)
NASDAQ:NUWE
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Nuwellis
(NASDAQ:NUWE)
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Rating:45Neutral
Price Target:
$0.42
▼(-76.14% Downside)
Action:Reiterated
Date:06/05/26
The score is held down primarily by heavy ongoing losses and substantial cash burn relative to the company’s scale, plus very weak technicals (price far below major moving averages with negative momentum). These are partially offset by improving revenue and gross margin trends, low leverage/no debt, and earnings-call guidance focused on reducing burn alongside continued commercial momentum.
Positive Factors
Strong gross margins
Sustained high gross margins (70.1% reported) indicate the Aquadex platform and consumables have durable unit economics. Favorable pricing, product mix and contract manufacturing lift per-treatment profitability, supporting scalable gross profit as installed base and utilization rise.
Negative Factors
Persistent negative cash flow
Multi-year, sizable negative operating and free cash flow demonstrate the business currently consumes material cash relative to its revenue base. Continued cash burn forces reliance on external funding or steep cost cuts, constraining strategic optionality and increasing execution risk over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong gross margins
Sustained high gross margins (70.1% reported) indicate the Aquadex platform and consumables have durable unit economics. Favorable pricing, product mix and contract manufacturing lift per-treatment profitability, supporting scalable gross profit as installed base and utilization rise.
Read all positive factors
Nuwellis (NUWE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.16M
Dividend YieldN/A
Average Volume (3M)289.18K
Price to Earnings (P/E)―
Beta (1Y)2.13
Revenue Growth-0.20%
EPS Growth91.63%
CountryUS
Employees38
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-64.02
Shares Outstanding2,680,752
10 Day Avg. Volume82,161
30 Day Avg. Volume289,177
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)4.58
Price to Sales (P/S)1.45
P/FCF Ratio-1.10
Enterprise Value/Market Cap-0.97
Enterprise Value/Revenue-0.13
Enterprise Value/Gross Profit-0.20
Enterprise Value/Ebitda0.09
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-1.69
Revenue Forecast (FY)$9.01M
Nuwellis Business Overview & Revenue Model
Company Description
Nuwellis, Inc., a medical device company, focuses on developing, manufacturing, and commercializing medical devices used in ultrafiltration therapy. The company's products are the Aquadex FlexFlow and Aquadex SmartFlow systems, which are indicated...
How the Company Makes Money
Nuwellis generates revenue primarily by selling and supporting its ultrafiltration therapy platform used for fluid removal. Key revenue streams include: (1) sales of the Aquadex SmartFlow system capital equipment to healthcare providers; (2) recur...
Nuwellis Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call presented multiple positive operational and strategic developments (notably 26% revenue growth, a 70.1% gross margin, pediatric adoption, the RendiaTech acquisition, a new patent, leadership and board strengthening, and a ~$5M capital infusion). However, notable challenges remain: a ~$4.3M net loss, operating expenses up ~46%, modest cash on hand (~$2.2M), and a multi-quarter timeline to commercialize RendiaTech's target product. On balance, the highlights indicate meaningful early execution progress and strategic positioning, but the company must deliver on its burn reduction and commercialization milestones to sustain momentum.Positive Updates
Revenue Growth
Q1 2026 revenue was $2.4 million, up 26% year-over-year from $1.9 million, driven by stronger console and circuit sales.
Negative Updates
Net Loss and Operating Expense Increase
Net loss attributable to common shareholders was approximately $4.3 million in Q1 2026. Operating expenses rose to about $6.0 million from $4.1 million year-over-year — an increase of roughly 46% driven by higher sales headcount and compensation.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Q1 2026 revenue was $2.4 million, up 26% year-over-year from $1.9 million, driven by stronger console and circuit sales.
Read all positive updates
Company Guidance
Guidance on the call centered on sharply reducing cash burn and sustaining commercial momentum: management is targeting an approximate 50% reduction in monthly cash burn by Q4 2026 while keeping resources focused on high‑traction areas, and plans to introduce the RendiaTech bedside kidney‑monitoring product to the U.S. market in 2027. Q1 2026 results that support this plan included revenue of $2.4M (+26% YoY), 15 consoles sold, circuit sales up 15%, gross margin of 70.1% (≈+14% YoY), operating expenses of ≈$6.0M (vs $4.1M prior year), net loss of ≈$4.3M, cash and restricted cash of ≈$2.2M with no debt and a completed ~ $5M private placement, while pediatrics now represents ~50% of U.S. revenue across 47 centers (including 6 of the USNWR top children's hospitals).Nuwellis Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
15
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.77M | 8.27M | 8.74M | 8.86M | 8.54M | 7.92M |
| Gross Profit | 5.74M | 5.12M | 5.83M | 4.98M | 4.75M | 4.49M |
| EBITDA | -11.92M | -10.69M | -10.53M | -16.36M | -4.90M | -19.06M |
| Net Income | -18.84M | -17.52M | -11.16M | -20.21M | -14.53M | -19.55M |
Balance Sheet | ||||||
| Total Assets | 7.17M | 6.12M | 9.86M | 9.77M | 24.67M | 30.42M |
| Cash, Cash Equivalents and Short-Term Investments | 2.08M | 1.08M | 5.09M | 3.80M | 18.31M | 24.20M |
| Total Debt | 265.00K | 328.00K | 545.00K | 760.00K | 984.00K | 1.18M |
| Total Liabilities | 4.29M | 3.49M | 3.33M | 6.56M | 12.32M | 4.47M |
| Stockholders Equity | 2.87M | 2.62M | 6.53M | 3.21M | 12.36M | 25.95M |
Cash Flow | ||||||
| Free Cash Flow | -11.51M | -10.90M | -9.65M | -18.18M | -15.27M | -18.06M |
| Operating Cash Flow | -11.39M | -10.81M | -9.59M | -17.94M | -15.15M | -17.84M |
| Investing Cash Flow | -374.00K | -90.00K | -60.00K | 330.00K | 14.73M | -15.72M |
| Financing Cash Flow | 11.34M | 6.94M | 10.96M | 3.68M | 9.42M | 27.87M |
Nuwellis Technical Analysis
Negative
1.76
Price Trends
1.01
Negative
1.50
Negative
2.33
Negative
Market Momentum
-0.18
Positive
13.58
Positive
2.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUWE, the sentiment is Negative. The current price of 1.76 is above the 20-day moving average (MA) of 0.84, above the 50-day MA of 1.01, and below the 200-day MA of 2.33, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 13.58 is Positive, neither overbought nor oversold. The STOCH value of 2.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NUWE.
Nuwellis Risk Analysis
Nuwellis disclosed 37 risk factors in its most recent earnings report. Nuwellis reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nuwellis Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $1.16M | -0.02 | -6046.59% | ― | -0.20% | 91.63% | |
45 Neutral | $3.34M | -0.14 | -191.39% | ― | ― | 64.06% | |
45 Neutral | $39.02M | -0.46 | -9999.00% | ― | -95.74% | -118.94% | |
41 Neutral | $2.75M | -152.34 | -173.74% | ― | 130.35% | 92.24% | |
40 Underperform | $6.40M | -0.72 | -220.42% | ― | ― | 51.71% |
* Healthcare Sector Average
NUWE
Nuwellis
0.17
-16.76
-99.01%
AEMD
Aethlon Medical
1.91
-24.48
-92.76%
PAVM
PAVmed
5.45
-13.50
-71.24%
VTAK
Catheter Precision
1.03
-2.99
-74.38%
BBLG
Bone Biologics
1.25
-3.56
-74.05%
HSCS
Heart Test Laboratories, Inc.
1.94
-1.64
-45.84%
Nuwellis Corporate Events
Executive/Board ChangesShareholder Meetings
Nuwellis Shareholders Elect Directors, Ratify Auditor at Meeting
Positive
Apr 29, 2026
At its annual meeting of stockholders held on April 28, 2026, Nuwellis shareholders elected two Class I directors, Marty J. Emerson and David A. McDonald, to three-year terms ending at the 2029 annual meeting, with both candidates receiving the hi...
Legal Proceedings
Nuwellis Settles Lawsuit With E.F. Hutton, Resolving Dispute
Positive
Apr 24, 2026
On February 26, 2026, E.F. Hutton Co. filed a complaint in the New York State Supreme Court alleging that Nuwellis, Inc. breached an engagement letter appointing Hutton as exclusive placement agent for one or more registered securities offerings ...
Business Operations and StrategyExecutive/Board Changes
Nuwellis Board Directors Resign Amid Governance Dispute
Negative
Mar 27, 2026
On March 26, 2026, Nuwellis directors Mika Grasso and Katharyn Field resigned from the Board effective immediately, citing in their letters various disagreements with the company, including alleged failures by Nuwellis and its advisers to provide ...
Business Operations and StrategyM&A Transactions
Nuwellis Completes Acquisition of Kidney Monitoring Innovator Rendiatech
Positive
Mar 17, 2026
On March 17, 2026, Nuwellis, Inc. closed its previously announced acquisition of Rendiatech, Inc., an Israeli developer of automated kidney function monitoring technology for critically ill patients. The deal expands Nuwellis’s capabilities ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.