Filing Flows › Nuwellis (NUWE) › Q1 2026
Nuwellis (NUWE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Nuwellis (NUWE) reported revenue of $2.4M for the first quarter 2026 (Q1 2026), +26% from a year earlier and -0.9% from the quarter before. Operating margin was -190.1%, net loss $4.5M (189.0% of revenue).
Nuwellis, Q1 2026: revenue $2.4M (+26% year over year), operating margin -190.1%, net loss $4.5M, operating cash flow −$3.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4M | -0.9% | +26% |
| Operating profit | −$4.6M | — | — |
| Net earnings | −$4.5M | — | — |
| Operating cash flow | −$3.1M | — | — |
What changed
Revenue was $2.4M in Q1 2026, up 26% year over year and down 1% from the previous quarter.
Gross margin was 70.1%, up 14.0 points from Q1 2025. Operating costs exceeded revenue by $4.6M, an operating margin of -190.1%. Operating expenses grew 51% against revenue growth of 26%. The fastest-growing cost line was Research & development (+214%). The quarter ended with a net loss of $4.5M, wider than the previous quarter's $2.4M loss.
Operating cash flow was −$3.1M. Non-cash charges added back $38K of depreciation and amortization and $25K of share-based compensation. Working capital and other items added $1.4M. Capital expenditures of $30K exceeded it, leaving free cash flow of −$3.1M.
Questions
What was Nuwellis' revenue in the first quarter 2026?
Nuwellis (NUWE) reported revenue of $2.4M for the first quarter 2026 (Q1 2026), +26% from a year earlier and -0.9% from the quarter before.
Was Nuwellis profitable in the first quarter 2026?
Operating loss was $4.6M (-190.1% of revenue) and net loss $4.5M.
Source: Nuwellis 10-Q on SEC EDGAR.