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Monday 9 November 2026
Export NUWE’s income statement to Excel — free account
Nuwellis, Inc.
NUWENuwellis, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.3 million, down 5.38% from fiscal 2024.
- Revenue
- +14.1%
- EPS
- +98.8%
- Free cash flow
- −51.6%
Quarter to June 2026, against a year earlier
4.58
0.08
−1.72%
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Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1 | 4 | 5 | 6 | 7 | 8 | 9 | 9 | 9 | 8 | 9 | +22.9% | 10 | 11 | — | +15.6% | |
| Gross margin, % | 44.69 | 22.23 | 26.57 | 51.73 | 54.52 | 56.70 | 55.66 | 56.22 | 64.94 | 61.96 | 69.69 | +17.3 pt | ||||||
| EBT | (16) | (13) | (17) | (18) | (16) | (20) | (15) | (20) | (11) | (18) | (11) | +1.1% | ||||||
| EBT margin, % | (1,229.33) | (376.47) | (340.66) | (328.54) | (212.70) | (246.75) | (169.92) | (227.90) | (127.69) | (211.80) | (125.63) | +1,017.5 pt | ||||||
| Net income | (16) | (13) | (17) | (18) | (16) | (20) | (15) | (20) | (11) | (18) | (11) | +1.2% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 39.06 | 74.02 | 12.37 | 68.04 | 4.51 | 114.80 | 49.10 | 232,163.44 | 87,400.00 | 3,759.09 | 448.41 | +66.1% | |||||
| Earnings | (536.12) | (525.01) | (42.16) | (278.90) | (9.60) | (283.39) | (83.48) | (592,626.55) | (111,193.10) | (7,989.85) | (804.87) | +35.0% | ||||||
| Cash flow | (493.70) | (248.33) | (36.04) | (202.06) | (10.05) | (258.59) | (87.06) | (469,800.94) | (95,910.00) | (4,913.64) | (620.10) | +29.1% | ||||||
| Capex | (3.55) | (5.40) | (0.49) | (6.05) | (0.16) | (3.17) | (0.70) | (6,495.55) | (600.00) | (40.91) | (10.70) | +31.2% | ||||||
| Free cash flow | (497.24) | (253.73) | (36.53) | (208.11) | (10.21) | (261.77) | (87.76) | (476,296.49) | (96,510.00) | (4,954.55) | (630.80) | +29.1% | ||||||
| Book value | 67.94 | 338.29 | 14.69 | 24.57 | 9.90 | 376.04 | 71.02 | 84,101.62 | 65,300.00 | 1,195.45 | (101.74) | +37.5% | ||||||
| Shares, m | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | (26.0%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 9,819,696,209.25 | 103,927,553.22 | 85,588,590.18 | 1,951,010.89 | 7,947,078.16 | 51,092.75 | 11,087.78 | 0.00 | 0.17 | 0.15 | 0.01 | 1,001,917,262.3 | ||||||
| P/B | 8,523,071,553.27 | 22,740,152.52 | 72,063,978.05 | 5,403,025.63 | 3,623,863.74 | 15,597.40 | 7,665.53 | 0.00 | 0.23 | 0.46 | 0.00 | 862,692,583.7 | ||||||
| EV/Sales | 9,819,696,212.25 | 103,927,550.50 | 85,588,590.26 | 1,951,011.42 | 7,947,076.75 | 51,090.20 | 11,086.10 | 0.02 | 0.04 | 0.49 | 0.01 | 1,001,917,261.8 | ||||||
| EV/FCF | (912,611,172.14) | (30,301,541.68) | (28,985,755.12) | (637,837.33) | (3,511,740.49) | (22,405.35) | (6,201.86) | (0.01) | (0.03) | (0.37) | (0.01) | (97,607,665.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (16) | (12) | (15) | (16) | (17) | (18) | (15) | (18) | (10) | (11) | (12) | (4.5%) | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2.9%) | ||||||
| Free cash flow | (16) | (12) | (15) | (17) | (17) | (18) | (15) | (18) | (10) | (11) | (13) | (4.4%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (1) | 16 | 5 | 1 | 15 | 25 | 18 | 5 | 6 | 2 | 4 | n/m | |||||
| Net debt | (1) | (16) | (5) | (1) | (14) | (24) | (18) | (4) | (5) | (1) | (4) | (2.2%) | ||||||
| Shareholders’ equity | 2 | 16 | 6 | 2 | 16 | 26 | 12 | 3 | 7 | 3 | (2) | +1.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (110.85) | (192.64) | (125.09) | (314.69) | (137.37) | (77.55) | (52.73) | (131.39) | (108.22) | (219.21) | (123.52) | (108.4) pt | |||||
| ROIC | (1,065.15) | (1,439.74) | (2,334.98) | (1,164.22) | (550.00) | (689.48) | 0.00 | 0.00 | (478.57) | (449.27) | 0.00 | +615.9 pt | ||||||
| ROE | (254.05) | (277.54) | (153.62) | (570.86) | (192.19) | (92.53) | (75.84) | (294.87) | (223.24) | (382.80) | 205.50 | (128.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 29 | 46 | 55 | 32 | 30 | 70 | 70 | 59 | 19 | 24 | — | (2.1%) | |||||
| Revenue/emp, $m | 0.04 | 0.08 | 0.09 | 0.17 | 0.25 | 0.11 | 0.12 | 0.15 | 0.46 | 0.34 | — | +25.6% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Nov 2026
Nuwellis, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| VVOS Vivos Therapeutics, Inc. | $3.2M | — (loss-making) | — (loss-making) | +34.90% (above 0%: growing) | n/m | +16.44% (above 0%: growing) | 57.31% | (93.63%) | Compare |
| AMIX Autonomix Medical, Inc. | $3.0M | — (loss-making) | — | — | n/m | −36.10% (below 0%: shrinking) | — | 0.00% | Compare |
| AIDX 20/20 Biolabs Inc. | $2.6M | — (loss-making) | — (loss-making) | — | n/m | −23.98% (below 0%: shrinking) | 41.71% | (170.30%) | Compare |
| BJDX Bluejay Diagnostics, Inc. | $2.6M | — (loss-making) | — (loss-making) | — | n/m | +20.05% (above 0%: growing) | 0.00% | 0.00% | Compare |
| IVF INVO Fertility, Inc | $2.6M | — (loss-making) | — (loss-making) | +16.73% (above 0%: growing) | n/m | +35.07% (above 0%: growing) | 35.06% | (59.28%) | Compare |
| NUWE Nuwellis, Inc. | $2.5M | — (loss-making) | — (loss-making) | +14.14% (above 0%: growing) | n/m | −51.55% (below 0%: shrinking) | 76.08% | (160.94%) | |
| CODX Co-Diagnostics, Inc. | $2.4M | — (loss-making) | — (loss-making) | +1.96% (above 0%: growing) | n/m | +17.47% (above 0%: growing) | 72.73% | (3,733.17%) | Compare |
| ICCM IceCure Medical Ltd. | $2.3M | — (loss-making) | — (loss-making) | −0.69% (below 0%: shrinking) | n/m | +3.88% (above 0%: growing) | 32.38% | (466.19%) | Compare |
| NUVOQ Holdco Nuvo Group D.G Ltd. | $2.1M | — (loss-making) | — | — | n/m | −1.05% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $2.6M | — | — | +9.35% | — | +10.16% | 35.06% | (76.46%) |