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Nuwellis (NUWE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Nuwellis (NUWE) Q2 2026 earnings results →
Q2 2026 Revenue up 14% year over year to $2.0M · 245¢ of every $1 of revenue lost · operating margin -160.9%
Nuwellis made $2.0M in Q2 2026 (+14% Y/Y). Operating margin -160.9%, net loss $4.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.0M in Q2 2026, up 14% year over year and down 18% from the previous quarter.
Gross margin was 76.1%, up 20.5 points from Q2 2025. Operating costs exceeded revenue by $3.2M, an operating margin of -160.9%. Operating expenses grew 21% against revenue growth of 14%. The fastest-growing cost line was Research & development (+40%). The quarter ended with a net loss of $4.8M, wider than the previous quarter's $4.5M loss.
Operating cash flow was −$3.2M. Non-cash charges added back $37K of depreciation and amortization and $22K of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $9K exceeded it, leaving free cash flow of −$3.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $2.0M | +14% | -160.9% | −$4.8M | −$3.2M |
| Q1 2026 | 10-Q | May 15, 2026 | $2.4M | +26% | -190.1% | −$4.5M | −$3.1M |
| Q4 2025 | 10-K | Mar 11, 2026 | $2.4M | +4% | -100.8% | −$2.4M | −$3.0M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $2.2M | -6% | -121.7% | $468K | −$3.1M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $1.7M | -21% | -168.5% | −$12.6M | −$2.1M |
| Q1 2025 | 10-Q | May 13, 2025 | $1.9M | +2% | -160.7% | −$3.0M | −$2.5M |
| Q4 2024 | 10-K | Mar 11, 2025 | $2.3M | -9% | -102.8% | −$1.5M | −$1.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical technology company committed to delivering solutions for patients with cardiorenal conditions. The Company develops solutions designed to support patient care through monitoring, therapy, and data-informed clinical decision-making across acute and chronic care settings. Nuwellis’ portfolio includes commercially available and development-stage technologies addressing complex cardiorenal conditions, with a focus on safety, precision, and scalability across patient populations. For more information, visit www.nuwellis.com .
In its own words, from its 8-K, filed Aug 13, 2026.
Nuwellis against its Electromedical & Electrotherapeutic Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: -160.9% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NUWE Nuwellis | Q2 2026 | $2.0M | +14% | -160.9% |
| MDT Medtronic | Q1 FY27 | $9.8B | +14% | 18.1% |
| ITGR Integer Holdings | Q3 2026 | $450M | -4% | 6.3% |
| LIVN LivaNova | Q3 2026 | $393M | +10% | 7.2% |
| CNMD Conmed | Q3 2026 | $336M | -0.7% | 11.1% |
| TMDX TransMedics Group | Q3 2026 | $203M | +41% | 13.9% |
| AXGN Axogen | Q3 2026 | $75.8M | +26% | 1.3% |
| OM Outset Medical | Q3 2026 | $33.6M | +14% | -36.5% |
| CBLL Ceribell | Q3 2026 | $29.3M | +30% | -70.0% |
Source: Nuwellis 10-Q on SEC EDGAR · CIK 1506492 · Electromedical & Electrotherapeutic Apparatus
More on NUWE
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results