Nuwellis, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
NUWE$5.24+6.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts and weighted average shares outstanding)
| Three months ended September 30 | Nine months ended September 30 | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net sales | $2,217 | $2,367 | $5,846 | $6,418 |
| Cost of goods sold | 772 | 711 | 2,376 | 2,097 |
| Gross profit | 1,445 | 1,656 | 3,470 | 4,321 |
| Operating expenses: | ||||
| Selling, general and administrative | 3,539 | 2,702 | 10,305 | 10,544 |
| Research and development | 603 | 486 | 1,828 | 2,378 |
| Total operating expenses | 4,142 | 3,188 | 12,133 | 12,922 |
| Loss from operations | (2,697) | (1,532) | (8,663) | (8,601) |
| Other income (expense), net | 4 | 8 | 21 | (87) |
| Financing expense | — | — | (10,553) | (5,607) |
| Change in fair value of warrant liabilities | 3,161 | 3,882 | 4,101 | 4,602 |
| Income (loss) before income taxes | 468 | 2,358 | (15,094) | (9,693) |
| Income tax expense | — | — | (5) | (4) |
| Net income (loss) | $468 | $2,358 | $(15,099) | $(9,697) |
| Deemed dividend attributable to Series J Convertible Preferred Stock | 1 | — | 3 | 541 |
| Net income (loss) attributable to common shareholders | $469 | $2,358 | $(15,096) | $(9,156) |
| Basic and diluted income (loss) per share | $0.56 | $73.23 | $(39.51) | $(142.11) |
| Weighted average shares outstanding – basic and diluted | 836,386 | 204,710 | 382,123 | 68,237 |
| Other comprehensive loss: | ||||
| Net income (loss) | $468 | $2,358 | $(15,099) | $(9,697) |
| Foreign currency translation adjustments | $(1) | $(4) | $(7) | $(15) |
| Total comprehensive income (loss) | $467 | $2,354 | $(15,106) | $(9,712) |
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