Filing Flows › Nuwellis (NUWE) › Q2 2025
Nuwellis (NUWE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
Nuwellis (NUWE) reported revenue of $1.7M for the second quarter 2025 (Q2 2025), -21% from a year earlier and -9% from the quarter before. Operating margin was -168.5%, net loss $12.6M (727.7% of revenue).
Nuwellis, Q2 2025: revenue $1.7M (-21% year over year), operating margin -168.5%, net loss $12.6M, operating cash flow −$2.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7M | -9% | -21% |
| Operating profit | −$2.9M | — | — |
| Net earnings | −$12.6M | — | — |
| Operating cash flow | −$2.1M | — | — |
What changed
Revenue was $1.7M in Q2 2025, down 21% year over year and down 9% from the previous quarter.
Gross margin was 55.5%, down 11.6 points from a year earlier. Operating costs exceeded revenue by $2.9M, an operating margin of -168.5%. Operating expenses grew 2% against a revenue fall of 21%. The fastest-growing cost line was Research & development (+21%). The quarter ended with a net loss of $12.6M, wider than the previous quarter's $3.0M loss. Net interest and other expense of $9.6M was the main reason.
Operating cash flow was −$2.1M. Non-cash charges added back $50K of depreciation and amortization and $17K of share-based compensation. Working capital and other items added $10.4M. Capital expenditures of $4K exceeded it, leaving free cash flow of −$2.1M.
Questions
What was Nuwellis' revenue in the second quarter 2025?
Nuwellis (NUWE) reported revenue of $1.7M for the second quarter 2025 (Q2 2025), -21% from a year earlier and -9% from the quarter before.
Was Nuwellis profitable in the second quarter 2025?
Operating loss was $2.9M (-168.5% of revenue) and net loss $12.6M.
Source: Nuwellis 10-Q on SEC EDGAR.