Nuwellis, Inc. (NUWE) 10-Year Financial Performance & Capital Metrics

NUWE • • Industrial / General

HealthcareMedical DevicesCardiovascular DevicesVascular & Aortic Devices

AboutNuwellis, 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 for the treatment of patients suffering from fluid overload who have failed diuretics. Its Aquadex FlexFlow system includes a console, disposable blood set, and catheter. The company sells its products to hospitals and clinics through its direct salesforce in the United States; and through independent specialty distributors primarily in Austria, Brazil, Czech Republic, Germany, Greece, Hong Kong, India, Israel, Italy, Romania, Singapore, Slovakia, Spain, Switzerland, Thailand, the United Arab Emirates, and the United Kingdom. The company was formerly known as CHF Solutions, Inc. and changed its name to Nuwellis, Inc. in April 2021. Nuwellis, Inc. was founded in 1999 and is headquartered in Eden Prairie, Minnesota.Show more

Revenue $9M -1.4%
EBITDA -$11M +38.2%
Net Income -$11M +44.8%
EPS (Diluted) -8.00 +97.8%
Gross Margin 66.66% +18.6%
EBITDA Margin -122.17% +37.3%
Operating Margin -125.72% +36.8%
Net Margin -127.75% +44.0%
ROE -229.24% +11.7%
ROIC -766.25% +90.1%
Debt/Equity 0.08 -64.7%
Interest Coverage -1.96 +61.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.5x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 4 (bottom 4%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y40.34%

5Y9.66%

3Y3.33%

TTM-8.93%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-8.95%

EPS CAGR

10Y-

5Y-

3Y-

TTM-188.2%

ROCE

10Y Avg-163.94%

5Y Avg-127.13%

3Y Avg-121.21%

Latest-158.07%

Peer Comparison

Vascular & Aortic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENPenumbra, Inc.	13.73B	350.49	973.58	12.86%	12.3%	12.07%	1.07%	0.19
NVNOenVVeno Medical Corporation	6.35M	0.31	-0.25			-74.59%		0.03
NUWENuwellis, Inc.	2.14M	2.37	-0.30	-1.4%	-202.83%	-423.93%		0.08
NSPRInspireMD, Inc.	67.79M	1.60	-2.11	12.96%	-5.94%	-72.06%		0.06
OMOutset Medical, Inc.	95.49M	5.26	-2.14	-12.8%	-73.12%	-61.67%		7.53
SRDXSurmodics, Inc.	614.51M	42.98	-52.41	-4.91%	-14.59%	-15.84%		0.28
AORTArtivion, Inc.	2.05B	43.29	-135.28	9.75%	-2.16%	-2.08%	0.54%	1.31

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	59K	1.29M	3.55M	5M	5.51M	7.44M	7.92M	8.54M	8.86M	8.74M
Revenue Growth %	-0.8%	20.85%	1.76%	0.41%	0.1%	0.35%	0.06%	0.08%	0.04%	-0.01%
Cost of Goods Sold+	325K	713K	2.76M	3.67M	2.66M	3.38M	3.43M	3.79M	3.88M	2.91M
COGS % of Revenue	5.51%	0.55%	0.78%	0.73%	0.48%	0.45%	0.43%	0.44%	0.44%	0.33%
Gross Profit+	-266K	576K	790K	1.33M	2.85M	4.06M	4.49M	4.75M	4.98M	5.83M
Gross Margin %	-4.51%	0.45%	0.22%	0.27%	0.52%	0.55%	0.57%	0.56%	0.56%	0.67%
Gross Profit Growth %	-1.9%	3.17%	0.37%	0.68%	1.15%	0.42%	0.11%	0.06%	0.05%	0.17%
Operating Expenses+	26.02M	16.24M	11.65M	18.36M	20.96M	21.09M	24.02M	21.93M	22.61M	16.81M
OpEx % of Revenue	440.97%	12.6%	3.28%	3.67%	3.8%	2.83%	3.03%	2.57%	2.55%	1.92%
Selling, General & Admin	8.35M	8.13M	10.17M	15.31M	16.29M	17.42M	19.04M	17.58M	17.19M	0
SG&A % of Revenue	141.44%	6.31%	2.86%	3.06%	2.95%	2.34%	2.4%	2.06%	1.94%	-
Research & Development	17.67M	8.11M	1.48M	3.05M	4.67M	3.67M	4.98M	4.34M	5.42M	3.21M
R&D % of Revenue	299.53%	6.29%	0.42%	0.61%	0.85%	0.49%	0.63%	0.51%	0.61%	0.37%
Other Operating Expenses	-749K	2K	28K	10K	0	-1K	0	75K	0	13.61M
Operating Income+	-25.96M	-15.66M	-14.81M	-17.04M	-18.11M	-17.03M	-19.53M	-17.17M	-17.63M	-10.99M
Operating Margin %	-439.97%	-12.15%	-4.17%	-3.41%	-3.29%	-2.29%	-2.47%	-2.01%	-1.99%	-1.26%
Operating Income Growth %	-0.01%	0.4%	0.05%	-0.15%	-0.06%	0.06%	-0.15%	0.12%	-0.03%	0.38%
EBITDA+	-25.63M	-14.96M	-14.04M	-16.8M	-17.87M	-16.65M	-19.04M	-16.8M	-17.27M	-10.68M
EBITDA Margin %	-434.46%	-11.61%	-3.95%	-3.36%	-3.24%	-2.24%	-2.4%	-1.97%	-1.95%	-1.22%
EBITDA Growth %	-0%	0.42%	0.06%	-0.2%	-0.06%	0.07%	-0.14%	0.12%	-0.03%	0.38%
D&A (Non-Cash Add-back)	325K	697K	769K	232K	239K	376K	488K	372K	362K	310K
EBIT	-25.96M	-15.34M	-10.86M	-17.04M	-18.11M	-17.03M	-19.55M	-5.27M	-16.72M	-10.84M
Net Interest Income+	-743K	-504K	0	0	0	0	0	-9.25M	-3.48M	-5.61M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	743K	504K	2.54M	0	0	0	0	9.25M	3.48M	5.61M
Other Income/Expense	-749K	-184K	1.44M	10K	0	1.2M	-19K	2.65M	-2.57M	-172K
Pretax Income+	-26.71M	-15.85M	-13.38M	-17.03M	-18.11M	-15.83M	-19.55M	-14.52M	-20.2M	-11.16M
Pretax Margin %	-452.66%	-12.29%	-3.76%	-3.41%	-3.29%	-2.13%	-2.47%	-1.7%	-2.28%	-1.28%
Income Tax+	-124K	-54K	6K	6K	8K	9K	9K	9K	8K	5K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Net Margin %	-450.56%	-12.25%	-3.77%	-3.41%	-3.29%	-2.13%	-2.47%	-1.7%	-2.28%	-1.28%
Net Income Growth %	-0.04%	0.41%	0.15%	-0.27%	-0.06%	0.13%	-0.23%	0.26%	-0.39%	0.45%
Net Income (Continuing)	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-999999.00	-999999.00	-999999.00	-999999.00	-411681.82	-20276.57	-10004.09	-2921.95	-360.07	-8.00
EPS Growth %	0.03%	0.59%	0.15%	0.05%	0.9%	0.95%	0.51%	0.71%	0.88%	0.98%
EPS (Basic)	-999999.00	-999999.00	-999999.00	-999999.00	-411681.82	-20276.57	-10004.09	-2921.95	-360.07	-8.00
Diluted Shares Outstanding	2	3	3	4	44	781	1.96K	4.97K	56.13K	1.33M
Basic Shares Outstanding	2	3	3	4	44	781	1.96K	4.97K	56.13K	1.33M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	23.65M	2.42M	17.86M	8.13M	4.04M	18.54M	28.13M	22.77M	8.21M	8.86M
Cash & Short-Term Investments	23.11M	1.32M	15.6M	5.48M	1.28M	14.44M	24.2M	18.31M	3.8M	5.09M
Cash Only	23.11M	1.32M	15.6M	5.48M	1.28M	14.44M	8.74M	17.74M	3.8M	5.09M
Short-Term Investments	0	0	0	0	0	0	15.46M	569K	0	0
Accounts Receivable	0	282K	545K	786K	799K	905K	750K	1.41M	1.95M	1.73M
Days Sales Outstanding	-	79.85	55.99	57.4	52.92	44.39	34.56	60.07	80.34	72.12
Inventory	0	677K	1.59M	1.66M	1.8M	2.96M	2.84M	2.66M	2M	1.72M
Days Inventory Outstanding	-	346.57	209.78	164.9	246.58	318.94	302.54	256.41	187.81	215.19
Other Current Assets	0	137K	136K	203K	-1	237K	0	396K	461K	0
Total Non-Current Assets+	918K	5.05M	591K	649K	1.57M	1.48M	2.29M	1.9M	1.56M	1.01M
Property, Plant & Equipment	535K	540K	570K	536K	1.43M	1.46M	2.27M	1.88M	1.44M	988K
Fixed Asset Turnover	0.11x	2.39x	6.23x	9.32x	3.85x	5.11x	3.49x	4.54x	6.15x	8.85x
Goodwill	0	99K	0	0	0	0	0	0	0	0
Intangible Assets	0	4.39M	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	383K	21K	21K	113K	133K	21K	21K	21K	120K	21K
Total Assets+	24.57M	7.47M	18.45M	8.78M	5.6M	20.01M	30.42M	24.67M	9.77M	9.86M
Asset Turnover	0.00x	0.17x	0.19x	0.57x	0.98x	0.37x	0.26x	0.35x	0.91x	0.89x
Asset Growth %	-0.24%	-0.7%	1.47%	-0.52%	-0.36%	2.57%	0.52%	-0.19%	-0.6%	0.01%
Total Current Liabilities+	8.06M	3.26M	2.09M	2.84M	3.35M	3.58M	3.31M	4.69M	3.17M	2.56M
Accounts Payable	2.83M	1.99M	862K	1.13M	1.49M	1.1M	1.41M	2.25M	2.38M	1.64M
Days Payables Outstanding	3.18K	1.02K	113.87	112.68	204.18	118.32	150.47	216.32	223.83	205.42
Short-Term Debt	3.8M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	208K	1.71M	85K	66K	36K	58K	576K	41K
Current Ratio	2.94x	0.74x	8.54x	2.86x	1.20x	5.17x	8.50x	4.86x	2.59x	3.46x
Quick Ratio	2.94x	0.53x	7.78x	2.28x	0.67x	4.35x	7.65x	4.29x	1.96x	2.79x
Cash Conversion Cycle	-	-590.76	151.89	109.61	95.32	245.01	186.63	100.16	44.32	81.89
Total Non-Current Liabilities+	4.34M	2.45M	126K	1.13M	261K	109K	1.16M	7.63M	3.39M	775K
Long-Term Debt	3.88M	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	261K	109K	984K	760K	544K	307K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	400K	1.97M	126K	0	0	0	179K	6.87M	2.84M	468K
Total Liabilities	12.4M	5.71M	2.22M	2.84M	3.61M	3.69M	4.47M	12.32M	6.56M	3.33M
Total Debt+	7.8M	0	0	0	447K	339K	1.18M	984K	760K	545K
Net Debt	-15.31M	-1.32M	-15.6M	-5.48M	-832K	-14.1M	-7.57M	-16.75M	-3.04M	-4.55M
Debt / Equity	0.64x	-	-	-	0.22x	0.02x	0.05x	0.08x	0.24x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-34.94x	-31.08x	-5.82x	-	-	-	-	-1.86x	-5.06x	-1.96x
Total Equity+	12.17M	1.76M	16.24M	5.94M	1.99M	16.32M	25.95M	12.36M	3.21M	6.53M
Equity Growth %	-0.58%	-0.86%	8.24%	-0.63%	-0.66%	7.2%	0.59%	-0.52%	-0.74%	1.03%
Book Value per Share	999999.00	585666.67	999999.00	999999.00	45227.27	20893.73	13258.56	2485.82	57.21	4.92
Total Shareholders' Equity	12.17M	1.76M	16.24M	5.94M	1.99M	16.32M	25.95M	12.36M	3.21M	6.53M
Common Stock	2K	1.84M	0	0	0	0	0	0	1K	0
Retained Earnings	-153.18M	-168.97M	-182.36M	-199.39M	-217.5M	-233.34M	-252.89M	-267.42M	-287.63M	-298.79M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.25M	1.24M	1.23M	1.22M	1.21M	-7K	-35K	38K	-31K	-47K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-22.99M	-16.29M	-11.92M	-14.56M	-16.37M	-16.57M	-17.84M	-15.15M	-17.94M	-9.59M
Operating CF Margin %	-389.64%	-12.64%	-3.35%	-2.91%	-2.97%	-2.23%	-2.25%	-1.77%	-2.02%	-1.1%
Operating CF Growth %	-0.02%	0.29%	0.27%	-0.22%	-0.12%	-0.01%	-0.08%	0.15%	-0.18%	0.47%
Net Income	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Depreciation & Amortization	325K	697K	769K	232K	239K	376K	488K	372K	362K	310K
Stock-Based Compensation	2.15M	949K	499K	2.09M	1.51M	1.35M	1.31M	862K	670K	478K
Deferred Taxes	0	-318K	0	0	-2.05M	0	0	0	0	0
Other Non-Cash Items	263K	187K	2.54M	2.32M	2.05M	-1.16M	13K	-2.46M	2.66M	1.09M
Working Capital Changes	852K	-2.02M	-2.35M	153K	-4K	-1.3M	-104K	598K	-1.42M	-305K
Change in Receivables	59K	-282K	-263K	-241K	-13K	-106K	155K	-656K	-545K	224K
Change in Inventory	-181K	-677K	-911K	-70K	-343K	-1.42M	-143K	140K	697K	279K
Change in Payables	1.07M	-934K	-1.18M	545K	334K	115K	0	0	-1.5M	0
Cash from Investing+	-199K	-4.12M	-259K	-198K	-490K	-267K	-15.72M	14.73M	330K	-60K
Capital Expenditures	-199K	-117K	-259K	-198K	-490K	-298K	-219K	-122K	-149K	-60K
CapEx % of Revenue	3.37%	0.09%	0.07%	0.04%	0.09%	0.04%	0.03%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-4.95M	0	0	0	31K	0	0	-99K	0
Cash from Financing+	15.05M	-1.36M	26.45M	4.65M	12.66M	30.02M	27.87M	9.42M	3.68M	10.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	7.05M	0	1.99M	0	0	4.12M	1K	0	120K	2.53M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-23.19M	-16.41M	-12.18M	-14.76M	-16.86M	-16.87M	-18.06M	-15.27M	-18.18M	-9.65M
FCF Margin %	-393.02%	-12.73%	-3.43%	-2.95%	-3.06%	-2.27%	-2.28%	-1.79%	-2.05%	-1.1%
FCF Growth %	-0.01%	0.29%	0.26%	-0.21%	-0.14%	-0%	-0.07%	0.15%	-0.19%	0.47%
FCF per Share	-999999.00	-999999.00	-999999.00	-999999.00	-383113.64	-21600.51	-9229.43	-3072.02	-324.01	-7.27
FCF Conversion (FCF/Net Income)	0.86x	1.03x	0.89x	0.85x	0.90x	1.05x	0.91x	1.04x	0.89x	0.86x
Interest Paid	0	840K	0	0	0	0	0	0	0	0
Taxes Paid	0	47K	6K	2K	4K	10K	11K	9K	12K	7K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-128.46%	-226.77%	-148.73%	-153.62%	-457.08%	-173%	-92.53%	-75.84%	-259.62%	-229.24%
Return on Invested Capital (ROIC)	-	-2706.57%	-2062.95%	-2325.2%	-1682.71%	-756.13%	-142.17%	-184.16%	-7732.46%	-766.25%
Gross Margin	-450.85%	44.69%	22.23%	26.57%	51.73%	54.52%	56.7%	55.66%	56.22%	66.66%
Net Margin	-45055.93%	-1225.14%	-376.64%	-340.78%	-328.69%	-212.82%	-246.86%	-170.02%	-227.99%	-127.75%
Debt / Equity	0.64x	-	-	-	0.22x	0.02x	0.05x	0.08x	0.24x	0.08x
Interest Coverage	-34.94x	-31.08x	-5.82x	-	-	-	-	-1.86x	-5.06x	-1.96x
FCF Conversion	0.86x	1.03x	0.89x	0.85x	0.90x	1.05x	0.91x	1.04x	0.89x	0.86x
Revenue Growth	-80%	2084.75%	175.64%	40.67%	10.26%	35.02%	6.45%	7.85%	3.76%	-1.4%

Frequently Asked Questions

Growth & Financials

Nuwellis, Inc. (NUWE) reported $8.2M in revenue for fiscal year 2024.

Nuwellis, Inc. (NUWE) saw revenue decline by 1.4% over the past year.

Nuwellis, Inc. (NUWE) reported a net loss of $16.6M for fiscal year 2024.

Dividend & Returns

Nuwellis, Inc. (NUWE) has a return on equity (ROE) of -229.2%. Negative ROE indicates the company is unprofitable.

Nuwellis, Inc. (NUWE) had negative free cash flow of $9.4M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

Nuwellis, Inc. (NUWE) 10-Year Financial Performance & Capital Metrics

NUWE • • Industrial / General

HealthcareMedical DevicesCardiovascular DevicesVascular & Aortic Devices

Revenue $9M -1.4%
EBITDA -$11M +38.2%
Net Income -$11M +44.8%
EPS (Diluted) -8.00 +97.8%
Gross Margin 66.66% +18.6%
EBITDA Margin -122.17% +37.3%
Operating Margin -125.72% +36.8%
Net Margin -127.75% +44.0%
ROE -229.24% +11.7%
ROIC -766.25% +90.1%
Debt/Equity 0.08 -64.7%
Interest Coverage -1.96 +61.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.5x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 4 (bottom 4%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y40.34%

5Y9.66%

3Y3.33%

TTM-8.93%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-8.95%

EPS CAGR

10Y-

5Y-

3Y-

TTM-188.2%

ROCE

10Y Avg-163.94%

5Y Avg-127.13%

3Y Avg-121.21%

Latest-158.07%

Peer Comparison

Vascular & Aortic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENPenumbra, Inc.	13.73B	350.49	973.58	12.86%	12.3%	12.07%	1.07%	0.19
NVNOenVVeno Medical Corporation	6.35M	0.31	-0.25			-74.59%		0.03
NUWENuwellis, Inc.	2.14M	2.37	-0.30	-1.4%	-202.83%	-423.93%		0.08
NSPRInspireMD, Inc.	67.79M	1.60	-2.11	12.96%	-5.94%	-72.06%		0.06
OMOutset Medical, Inc.	95.49M	5.26	-2.14	-12.8%	-73.12%	-61.67%		7.53
SRDXSurmodics, Inc.	614.51M	42.98	-52.41	-4.91%	-14.59%	-15.84%		0.28
AORTArtivion, Inc.	2.05B	43.29	-135.28	9.75%	-2.16%	-2.08%	0.54%	1.31

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	59K	1.29M	3.55M	5M	5.51M	7.44M	7.92M	8.54M	8.86M	8.74M
Revenue Growth %	-0.8%	20.85%	1.76%	0.41%	0.1%	0.35%	0.06%	0.08%	0.04%	-0.01%
Cost of Goods Sold+	325K	713K	2.76M	3.67M	2.66M	3.38M	3.43M	3.79M	3.88M	2.91M
COGS % of Revenue	5.51%	0.55%	0.78%	0.73%	0.48%	0.45%	0.43%	0.44%	0.44%	0.33%
Gross Profit+	-266K	576K	790K	1.33M	2.85M	4.06M	4.49M	4.75M	4.98M	5.83M
Gross Margin %	-4.51%	0.45%	0.22%	0.27%	0.52%	0.55%	0.57%	0.56%	0.56%	0.67%
Gross Profit Growth %	-1.9%	3.17%	0.37%	0.68%	1.15%	0.42%	0.11%	0.06%	0.05%	0.17%
Operating Expenses+	26.02M	16.24M	11.65M	18.36M	20.96M	21.09M	24.02M	21.93M	22.61M	16.81M
OpEx % of Revenue	440.97%	12.6%	3.28%	3.67%	3.8%	2.83%	3.03%	2.57%	2.55%	1.92%
Selling, General & Admin	8.35M	8.13M	10.17M	15.31M	16.29M	17.42M	19.04M	17.58M	17.19M	0
SG&A % of Revenue	141.44%	6.31%	2.86%	3.06%	2.95%	2.34%	2.4%	2.06%	1.94%	-
Research & Development	17.67M	8.11M	1.48M	3.05M	4.67M	3.67M	4.98M	4.34M	5.42M	3.21M
R&D % of Revenue	299.53%	6.29%	0.42%	0.61%	0.85%	0.49%	0.63%	0.51%	0.61%	0.37%
Other Operating Expenses	-749K	2K	28K	10K	0	-1K	0	75K	0	13.61M
Operating Income+	-25.96M	-15.66M	-14.81M	-17.04M	-18.11M	-17.03M	-19.53M	-17.17M	-17.63M	-10.99M
Operating Margin %	-439.97%	-12.15%	-4.17%	-3.41%	-3.29%	-2.29%	-2.47%	-2.01%	-1.99%	-1.26%
Operating Income Growth %	-0.01%	0.4%	0.05%	-0.15%	-0.06%	0.06%	-0.15%	0.12%	-0.03%	0.38%
EBITDA+	-25.63M	-14.96M	-14.04M	-16.8M	-17.87M	-16.65M	-19.04M	-16.8M	-17.27M	-10.68M
EBITDA Margin %	-434.46%	-11.61%	-3.95%	-3.36%	-3.24%	-2.24%	-2.4%	-1.97%	-1.95%	-1.22%
EBITDA Growth %	-0%	0.42%	0.06%	-0.2%	-0.06%	0.07%	-0.14%	0.12%	-0.03%	0.38%
D&A (Non-Cash Add-back)	325K	697K	769K	232K	239K	376K	488K	372K	362K	310K
EBIT	-25.96M	-15.34M	-10.86M	-17.04M	-18.11M	-17.03M	-19.55M	-5.27M	-16.72M	-10.84M
Net Interest Income+	-743K	-504K	0	0	0	0	0	-9.25M	-3.48M	-5.61M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	743K	504K	2.54M	0	0	0	0	9.25M	3.48M	5.61M
Other Income/Expense	-749K	-184K	1.44M	10K	0	1.2M	-19K	2.65M	-2.57M	-172K
Pretax Income+	-26.71M	-15.85M	-13.38M	-17.03M	-18.11M	-15.83M	-19.55M	-14.52M	-20.2M	-11.16M
Pretax Margin %	-452.66%	-12.29%	-3.76%	-3.41%	-3.29%	-2.13%	-2.47%	-1.7%	-2.28%	-1.28%
Income Tax+	-124K	-54K	6K	6K	8K	9K	9K	9K	8K	5K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Net Margin %	-450.56%	-12.25%	-3.77%	-3.41%	-3.29%	-2.13%	-2.47%	-1.7%	-2.28%	-1.28%
Net Income Growth %	-0.04%	0.41%	0.15%	-0.27%	-0.06%	0.13%	-0.23%	0.26%	-0.39%	0.45%
Net Income (Continuing)	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-999999.00	-999999.00	-999999.00	-999999.00	-411681.82	-20276.57	-10004.09	-2921.95	-360.07	-8.00
EPS Growth %	0.03%	0.59%	0.15%	0.05%	0.9%	0.95%	0.51%	0.71%	0.88%	0.98%
EPS (Basic)	-999999.00	-999999.00	-999999.00	-999999.00	-411681.82	-20276.57	-10004.09	-2921.95	-360.07	-8.00
Diluted Shares Outstanding	2	3	3	4	44	781	1.96K	4.97K	56.13K	1.33M
Basic Shares Outstanding	2	3	3	4	44	781	1.96K	4.97K	56.13K	1.33M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	23.65M	2.42M	17.86M	8.13M	4.04M	18.54M	28.13M	22.77M	8.21M	8.86M
Cash & Short-Term Investments	23.11M	1.32M	15.6M	5.48M	1.28M	14.44M	24.2M	18.31M	3.8M	5.09M
Cash Only	23.11M	1.32M	15.6M	5.48M	1.28M	14.44M	8.74M	17.74M	3.8M	5.09M
Short-Term Investments	0	0	0	0	0	0	15.46M	569K	0	0
Accounts Receivable	0	282K	545K	786K	799K	905K	750K	1.41M	1.95M	1.73M
Days Sales Outstanding	-	79.85	55.99	57.4	52.92	44.39	34.56	60.07	80.34	72.12
Inventory	0	677K	1.59M	1.66M	1.8M	2.96M	2.84M	2.66M	2M	1.72M
Days Inventory Outstanding	-	346.57	209.78	164.9	246.58	318.94	302.54	256.41	187.81	215.19
Other Current Assets	0	137K	136K	203K	-1	237K	0	396K	461K	0
Total Non-Current Assets+	918K	5.05M	591K	649K	1.57M	1.48M	2.29M	1.9M	1.56M	1.01M
Property, Plant & Equipment	535K	540K	570K	536K	1.43M	1.46M	2.27M	1.88M	1.44M	988K
Fixed Asset Turnover	0.11x	2.39x	6.23x	9.32x	3.85x	5.11x	3.49x	4.54x	6.15x	8.85x
Goodwill	0	99K	0	0	0	0	0	0	0	0
Intangible Assets	0	4.39M	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	383K	21K	21K	113K	133K	21K	21K	21K	120K	21K
Total Assets+	24.57M	7.47M	18.45M	8.78M	5.6M	20.01M	30.42M	24.67M	9.77M	9.86M
Asset Turnover	0.00x	0.17x	0.19x	0.57x	0.98x	0.37x	0.26x	0.35x	0.91x	0.89x
Asset Growth %	-0.24%	-0.7%	1.47%	-0.52%	-0.36%	2.57%	0.52%	-0.19%	-0.6%	0.01%
Total Current Liabilities+	8.06M	3.26M	2.09M	2.84M	3.35M	3.58M	3.31M	4.69M	3.17M	2.56M
Accounts Payable	2.83M	1.99M	862K	1.13M	1.49M	1.1M	1.41M	2.25M	2.38M	1.64M
Days Payables Outstanding	3.18K	1.02K	113.87	112.68	204.18	118.32	150.47	216.32	223.83	205.42
Short-Term Debt	3.8M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	208K	1.71M	85K	66K	36K	58K	576K	41K
Current Ratio	2.94x	0.74x	8.54x	2.86x	1.20x	5.17x	8.50x	4.86x	2.59x	3.46x
Quick Ratio	2.94x	0.53x	7.78x	2.28x	0.67x	4.35x	7.65x	4.29x	1.96x	2.79x
Cash Conversion Cycle	-	-590.76	151.89	109.61	95.32	245.01	186.63	100.16	44.32	81.89
Total Non-Current Liabilities+	4.34M	2.45M	126K	1.13M	261K	109K	1.16M	7.63M	3.39M	775K
Long-Term Debt	3.88M	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	261K	109K	984K	760K	544K	307K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	400K	1.97M	126K	0	0	0	179K	6.87M	2.84M	468K
Total Liabilities	12.4M	5.71M	2.22M	2.84M	3.61M	3.69M	4.47M	12.32M	6.56M	3.33M
Total Debt+	7.8M	0	0	0	447K	339K	1.18M	984K	760K	545K
Net Debt	-15.31M	-1.32M	-15.6M	-5.48M	-832K	-14.1M	-7.57M	-16.75M	-3.04M	-4.55M
Debt / Equity	0.64x	-	-	-	0.22x	0.02x	0.05x	0.08x	0.24x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-34.94x	-31.08x	-5.82x	-	-	-	-	-1.86x	-5.06x	-1.96x
Total Equity+	12.17M	1.76M	16.24M	5.94M	1.99M	16.32M	25.95M	12.36M	3.21M	6.53M
Equity Growth %	-0.58%	-0.86%	8.24%	-0.63%	-0.66%	7.2%	0.59%	-0.52%	-0.74%	1.03%
Book Value per Share	999999.00	585666.67	999999.00	999999.00	45227.27	20893.73	13258.56	2485.82	57.21	4.92
Total Shareholders' Equity	12.17M	1.76M	16.24M	5.94M	1.99M	16.32M	25.95M	12.36M	3.21M	6.53M
Common Stock	2K	1.84M	0	0	0	0	0	0	1K	0
Retained Earnings	-153.18M	-168.97M	-182.36M	-199.39M	-217.5M	-233.34M	-252.89M	-267.42M	-287.63M	-298.79M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.25M	1.24M	1.23M	1.22M	1.21M	-7K	-35K	38K	-31K	-47K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-22.99M	-16.29M	-11.92M	-14.56M	-16.37M	-16.57M	-17.84M	-15.15M	-17.94M	-9.59M
Operating CF Margin %	-389.64%	-12.64%	-3.35%	-2.91%	-2.97%	-2.23%	-2.25%	-1.77%	-2.02%	-1.1%
Operating CF Growth %	-0.02%	0.29%	0.27%	-0.22%	-0.12%	-0.01%	-0.08%	0.15%	-0.18%	0.47%
Net Income	-26.58M	-15.79M	-13.38M	-17.03M	-18.11M	-15.84M	-19.55M	-14.53M	-20.21M	-11.16M
Depreciation & Amortization	325K	697K	769K	232K	239K	376K	488K	372K	362K	310K
Stock-Based Compensation	2.15M	949K	499K	2.09M	1.51M	1.35M	1.31M	862K	670K	478K
Deferred Taxes	0	-318K	0	0	-2.05M	0	0	0	0	0
Other Non-Cash Items	263K	187K	2.54M	2.32M	2.05M	-1.16M	13K	-2.46M	2.66M	1.09M
Working Capital Changes	852K	-2.02M	-2.35M	153K	-4K	-1.3M	-104K	598K	-1.42M	-305K
Change in Receivables	59K	-282K	-263K	-241K	-13K	-106K	155K	-656K	-545K	224K
Change in Inventory	-181K	-677K	-911K	-70K	-343K	-1.42M	-143K	140K	697K	279K
Change in Payables	1.07M	-934K	-1.18M	545K	334K	115K	0	0	-1.5M	0
Cash from Investing+	-199K	-4.12M	-259K	-198K	-490K	-267K	-15.72M	14.73M	330K	-60K
Capital Expenditures	-199K	-117K	-259K	-198K	-490K	-298K	-219K	-122K	-149K	-60K
CapEx % of Revenue	3.37%	0.09%	0.07%	0.04%	0.09%	0.04%	0.03%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-4.95M	0	0	0	31K	0	0	-99K	0
Cash from Financing+	15.05M	-1.36M	26.45M	4.65M	12.66M	30.02M	27.87M	9.42M	3.68M	10.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	7.05M	0	1.99M	0	0	4.12M	1K	0	120K	2.53M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-23.19M	-16.41M	-12.18M	-14.76M	-16.86M	-16.87M	-18.06M	-15.27M	-18.18M	-9.65M
FCF Margin %	-393.02%	-12.73%	-3.43%	-2.95%	-3.06%	-2.27%	-2.28%	-1.79%	-2.05%	-1.1%
FCF Growth %	-0.01%	0.29%	0.26%	-0.21%	-0.14%	-0%	-0.07%	0.15%	-0.19%	0.47%
FCF per Share	-999999.00	-999999.00	-999999.00	-999999.00	-383113.64	-21600.51	-9229.43	-3072.02	-324.01	-7.27
FCF Conversion (FCF/Net Income)	0.86x	1.03x	0.89x	0.85x	0.90x	1.05x	0.91x	1.04x	0.89x	0.86x
Interest Paid	0	840K	0	0	0	0	0	0	0	0
Taxes Paid	0	47K	6K	2K	4K	10K	11K	9K	12K	7K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-128.46%	-226.77%	-148.73%	-153.62%	-457.08%	-173%	-92.53%	-75.84%	-259.62%	-229.24%
Return on Invested Capital (ROIC)	-	-2706.57%	-2062.95%	-2325.2%	-1682.71%	-756.13%	-142.17%	-184.16%	-7732.46%	-766.25%
Gross Margin	-450.85%	44.69%	22.23%	26.57%	51.73%	54.52%	56.7%	55.66%	56.22%	66.66%
Net Margin	-45055.93%	-1225.14%	-376.64%	-340.78%	-328.69%	-212.82%	-246.86%	-170.02%	-227.99%	-127.75%
Debt / Equity	0.64x	-	-	-	0.22x	0.02x	0.05x	0.08x	0.24x	0.08x
Interest Coverage	-34.94x	-31.08x	-5.82x	-	-	-	-	-1.86x	-5.06x	-1.96x
FCF Conversion	0.86x	1.03x	0.89x	0.85x	0.90x	1.05x	0.91x	1.04x	0.89x	0.86x
Revenue Growth	-80%	2084.75%	175.64%	40.67%	10.26%	35.02%	6.45%	7.85%	3.76%	-1.4%

Frequently Asked Questions

Growth & Financials

Nuwellis, Inc. (NUWE) reported $8.2M in revenue for fiscal year 2024.

Nuwellis, Inc. (NUWE) saw revenue decline by 1.4% over the past year.

Nuwellis, Inc. (NUWE) reported a net loss of $16.6M for fiscal year 2024.

Dividend & Returns

Nuwellis, Inc. (NUWE) has a return on equity (ROE) of -229.2%. Negative ROE indicates the company is unprofitable.

Nuwellis, Inc. (NUWE) had negative free cash flow of $9.4M in fiscal year 2024, likely due to heavy capital investments.