Filing Flows › Nuwellis (NUWE) › Q4 2025
Nuwellis (NUWE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
Nuwellis (NUWE) reported revenue of $2.4M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +9% from the quarter before. Operating margin was -100.8%, net loss $2.4M (99.9% of revenue).
Nuwellis, Q4 2025: revenue $2.4M (+4% year over year), operating margin -100.8%, net loss $2.4M, operating cash flow −$3.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4M | +9% | +4% |
| Operating profit | −$2.4M | — | — |
| Net earnings | −$2.4M | -618% | — |
| Operating cash flow | −$3.0M | — | — |
What changed
Revenue was $2.4M in Q4 2025, up 4% year over year and up 9% from the previous quarter.
Gross margin was 68.2%, up 9.9 points from Q4 2024. Operating costs exceeded revenue by $2.4M, an operating margin of -100.8%. Operating expenses grew 9% against revenue growth of 4%. The fastest-growing cost line was SG&A (+10%). The quarter ended with a net loss of $2.4M, after a profit of $468K the previous quarter.
Operating cash flow was −$3.0M. Non-cash charges added back $34K of depreciation and amortization and $24K of share-based compensation. Working capital and other items used $666K. Capital expenditures of −$12K exceeded it, leaving free cash flow of −$3.0M.
Questions
What was Nuwellis' revenue in the fourth quarter 2025?
Nuwellis (NUWE) reported revenue of $2.4M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +9% from the quarter before.
Was Nuwellis profitable in the fourth quarter 2025?
Operating loss was $2.4M (-100.8% of revenue) and net loss $2.4M.
Source: Nuwellis 10-K on SEC EDGAR.