# Nuwellis Inc. (NUWE)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $96,620.3  
**Price:** $0.14 (-6.67%)

> Nuwellis Inc. is a medical technology company that develops, manufactures, and commercializes medical devices for ultrafiltration therapy to manage fluid overload in patients with cardiorenal conditions. Its primary products include the Aquadex FlexFlow and Aquadex SmartFlow systems, which provide clinicians with precise, safe methods to remove excess salt and water from patients whose conditions are unresponsive to diuretics, particularly those suffering from heart failure, critical care challenges, and pediatric cases. The Aquadex systems consist of a console with electromechanical pumps and display screen, disposable blood circuit sets with tubing, filters, sensors, and connectors, and disposable catheters. These devices support both temporary and extended use in adult and pediatric patients weighing 20 kilograms or more. Nuwellis Inc. markets its products to hospitals and clinics through a direct salesforce in the United States and independent specialty distributors in select international markets. The company also advances pediatric innovations like the Vivian pediatric system, focusing on safer fluid management in complex clinical scenarios. Founded in 1999 and headquartered in Eden Prairie, Minnesota, Nuwellis Inc. plays a key role in enhancing cardiorenal care by centralizing fluid management in treatment protocols.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $8M | $5M | -$11M | -$18M | — |
| 2024 | $9M | $6M | -$11M | -$11M | — |
| 2023 | $9M | $5M | -$18M | -$20M | — |
| 2022 | $9M | $5M | -$17M | -$15M | — |
| 2021 | $8M | $4M | -$20M | -$20M | — |
| 2020 | $7M | $4M | -$17M | -$16M | — |
| 2019 | $6M | $3M | -$18M | -$18M | — |
| 2018 | $5M | $1M | -$17M | -$17M | — |
| 2017 | $4M | $790,000 | -$15M | -$13M | — |
| 2016 | $1M | $576,000 | -$16M | -$16M | — |
| 2015 | $59,000 | — | -$26M | — | — |
| 2014 | $295,000 | — | -$26M | — | — |
| 2013 | $59,000 | — | -$23M | — | — |
| 2012 | — | — | -$15M | — | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $6M | $3M | $3M | $1M | — |
| 2024 | $10M | $3M | $7M | $5M | — |
| 2023 | $10M | $7M | $3M | $4M | — |
| 2022 | $25M | $12M | $12M | $18M | — |
| 2021 | $30M | $4M | $26M | $9M | — |
| 2020 | $20M | $4M | $16M | $14M | — |
| 2019 | $6M | $4M | $2M | $1M | — |
| 2018 | $9M | $3M | $6M | $5M | — |
| 2017 | $18M | $2M | $16M | $16M | — |
| 2016 | $7M | $5M | $2M | $1M | — |
| 2015 | $24M | $12M | $12M | $23M | $4M |
| 2014 | $32M | $3M | $29M | $31M | — |
| 2013 | $55M | $4M | $52M | $54M | — |
| 2012 | $15M | $2M | $13M | $14M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$11M | $90,000 | -$11M |
| 2024 | -$10M | $60,000 | -$10M |
| 2023 | -$18M | $149,000 | -$18M |
| 2022 | -$15M | $122,000 | -$15M |
| 2021 | -$18M | $219,000 | -$18M |
| 2020 | -$17M | $298,000 | -$17M |
| 2019 | -$16M | $490,000 | -$17M |
| 2018 | -$15M | $198,000 | -$15M |
| 2017 | -$12M | $259,000 | -$12M |
| 2016 | -$16M | $117,000 | -$16M |

Source: [CompaniesByCap](https://companiesbycap.com/company/NUWE)