NUWE Nasdaq Electromedical & Electrotherapeutic Apparatus Financials FY2016βFY2025
Nuwellis, Inc. had $8.3M of revenue in fiscal 2025, down 5.4% on the year before. Over five years, revenue changed +2.1% a year on average.
Last close Β· Oct 23, 2026
$0.32
34.0%Hi! I read Nuwellis, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β5.4%
No. Sales fell 5.4% last year.
Does it make a profit?
β211.9%
No. It lost money last year.
Does profit turn into cash?
β131.8%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 8
Weak. It passes 2 of 8 health tests.
How is the share priced?
0.0x
One share costs 0.0 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Nuwellis, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 17 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 13, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 12, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 10, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 12, 2025 | Q3 '25 | During market hours | 8-K β |
| Aug 14, 2025 | Q2 '25 | During market hours | 8-K β |
| May 13, 2025 | Q1 '25 | During market hours | 8-K β |
| Mar 11, 2025 | Q4 '24 | During market hours | 8-K β |
| Nov 1, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Nuwellis, Inc. had $8.3M of revenue in fiscal 2025, down 5.4% on the year before. Over five years, revenue changed +2.1% a year on average. Its operating margin was β134.3%, down 8.6Β pts: of every 100 in sales, about β134 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Nuwellis, Inc. lost $17.5M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$10.9M in fiscal 2025, β131.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Nuwellis, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $24.2M | $18.3M | $3.8M | $5.1M | $1.1M |
| Current ratio | 8.5x | 4.9x | 2.6x | 3.5x | 1.7x |
| Quick ratio | 7.6x | 4.3x | 2.0x | 2.8x | 1.1x |
| Total assets | $30.4M | $24.7M | $9.8M | $9.9M | $6.1M |
| Total liabilities | $4.5M | $12.3M | $6.6M | $3.3M | $3.5M |
| Shareholders' equity | $25.9M | $12.4M | $3.0M | $6.5M | $2.6M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Nuwellis, Inc. passes 2 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 3 / 8 | 4 / 8 | 3 / 8 | 5 / 8 | 2 / 8 | 4 / 8 | 5 / 8 | 2 / 8 |
| Accruals ratio | 6.7% | β11.3% | β18.2% | β24.3% | 5.7% | β6.8% | 2.3% | β13.2% | β16.0% | β84.0% |
| Altman Z'' | β88.21 | β24.31 | β80.96 | β146.91 | β34.19 | β19.97 | β34.15 | β104.24 | β99.99 | β177.65 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.3M | $3.6M | $5.0M | $5.5M | $7.4M | $7.9M | $8.5M | $8.9M | $8.7M | $8.3M |
| Gross profit | $0.6M | $0.8M | $1.3M | $2.9M | $4.1M | $4.5M | $4.8M | $5.0M | $5.7M | $5.1M |
| Research and development | $8.1M | $1.5M | $3.1M | $4.7M | $3.7M | $5.0M | $4.3M | $5.4M | $3.2M | $2.7M |
| Operating income | β$15.7M | β$14.8M | β$17.0M | β$18.1M | β$17.0M | β$19.5M | β$17.2M | β$17.6M | β$11.0M | β$11.1M |
| Interest expense | $0.5M | β | β | β | β | β | β | β | β | β |
| Pretax income | β$15.8M | β$13.4M | β$17.0M | β$18.1M | β$15.8M | β$19.5M | β$14.5M | β$20.2M | β$11.2M | β$17.5M |
| Income tax | β$0.1M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$15.8M | β$13.4M | β$17.0M | β$18.1M | β$15.8M | β$19.6M | β$14.5M | β$20.2M | β$11.2M | β$17.5M |
| Net income to common | β$17.7M | β$25.0M | β$17.0M | β$22.6M | β$17.6M | β$19.6M | β$14.5M | β$22.6M | β$10.6M | β$17.5M |
| Diluted EPS | β$536.12 | β$525.01 | β$42.14 | β$278.90 | β$10.67 | β$285.36 | β$83.55 | β$360.06 | β$353.30 | β$25.39 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | β$16.3M | β$11.9M | β$14.6M | β$16.4M | β$16.6M | β$17.8M | β$15.1M | β$17.9M | β$9.6M | β$10.8M |
| Capital expenditure | $0.1M | $0.3M | $0.2M | $0.5M | $0.3M | $0.2M | $0.1M | $0.1M | $0.1M | $0.1M |
| Free cash flow | β$16.4M | β$12.2M | β$14.8M | β$16.9M | β$16.9M | β$18.1M | β$15.3M | β$18.1M | β$9.7M | β$10.9M |
| Depreciation and amortization | $0.7M | $0.8M | $0.2M | $0.2M | $0.4M | $0.5M | $0.4M | $0.4M | $0.3M | $0.2M |
| Stock-based compensation | $0.9M | $0.5M | $2.1M | $1.5M | $1.3M | $1.3M | $0.9M | $0.7M | $0.5M | $0.1M |
| Acquisitions | $4.0M | $0.0M | β | β | β | β | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $1.3M | $15.6M | $5.5M | $1.3M | $14.4M | $24.2M | $18.3M | $3.8M | $5.1M | $1.1M |
| Finance lease liabilities | β | β | β | β | $0.1M | β | β | β | β | β |
| Current assets | $2.4M | $17.9M | $8.1M | $4.0M | $18.5M | $28.1M | $22.8M | $8.2M | $8.9M | $5.2M |
| Current liabilities | $3.3M | $2.1M | $2.8M | $3.4M | $3.6M | $3.3M | $4.7M | $3.2M | $2.6M | $3.0M |
| Inventory | $0.7M | $1.6M | $1.7M | $1.8M | $3.0M | $2.8M | $2.7M | $2.0M | $1.7M | $1.9M |
| Property and equipment, net | $0.5M | $0.6M | $0.5M | $1.0M | $1.2M | $1.2M | $1.0M | $0.7M | $0.5M | $0.4M |
| Goodwill | $0.2M | $0.0M | β | β | β | β | β | β | β | β |
| Intangible assets | $4.3M | $0.0M | β | β | β | β | β | β | β | $0.0M |
| Total assets | $7.5M | $18.5M | $8.8M | $5.6M | $20.0M | $30.4M | $24.7M | $9.8M | $9.9M | $6.1M |
| Total liabilities | $5.2M | $2.2M | $2.8M | $3.6M | $3.7M | $4.5M | $12.3M | $6.6M | $3.3M | $3.5M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $1.8M | $16.2M | $5.9M | $2.0M | $16.3M | $25.9M | $12.4M | $3.0M | $6.5M | $2.6M |
| Margins | ||||||||||
| Gross margin | 44.7% | 22.2% | 26.6% | 51.7% | 54.5% | 56.7% | 55.7% | 56.2% | 64.9% | 62.0% |
| Operating margin | β1,215.1% | β416.9% | β340.9% | β328.5% | β228.8% | β246.5% | β201.0% | β198.9% | β125.7% | β134.3% |
| EBITDA margin | β1,161.0% | β395.2% | β336.2% | β324.2% | β223.8% | β240.3% | β196.6% | β194.8% | β122.2% | β131.9% |
| Net margin | β1,225.1% | β376.6% | β340.8% | β328.7% | β212.8% | β246.9% | β170.0% | β228.0% | β127.7% | β211.9% |
| FCF margin | β1,273.0% | β342.8% | β295.3% | β305.9% | β226.7% | β228.0% | β178.8% | β204.0% | β110.4% | β131.8% |
| Returns | ||||||||||
| Return on capital employed | β371.9% | β90.5% | β287.0% | β804.4% | β103.7% | β72.0% | β85.9% | β267.2% | β150.4% | β359.9% |
| Return on equity | β898.8% | β148.7% | β153.6% | β457.1% | β173.0% | β92.5% | β75.8% | β263.4% | β234.6% | β382.9% |
| Return on assets | β211.4% | β103.2% | β125.1% | β252.0% | β123.7% | β77.6% | β52.7% | β117.3% | β113.7% | β219.3% |
| Return on tangible equity | β | β153.8% | β286.9% | β1,136.8% | β107.8% | β75.6% | β117.5% | β756.8% | β162.7% | β667.6% |
| Growth | ||||||||||
| Revenue growth | β | 175.6% | 40.7% | 10.3% | 35.0% | 6.5% | 7.9% | 3.8% | β1.4% | β5.4% |
| Share count change | β | 45.5% | 741.7% | β80.0% | 1,935.8% | β95.8% | 151.9% | β67.7% | β43.7% | 2,083.9% |
| Financial health | ||||||||||
| Interest coverage | β31.1x | β | β | β | β | β | β | β | β | β |
| Current ratio | 0.7x | 8.5x | 2.9x | 1.2x | 5.2x | 8.5x | 4.9x | 2.6x | 3.5x | 1.7x |
| Quick ratio | 0.5x | 7.8x | 2.3x | 0.7x | 4.3x | 7.6x | 4.3x | 2.0x | 2.8x | 1.1x |
| Capital allocation | ||||||||||
| Capex / revenue | 9.1% | 7.3% | 4.0% | 8.9% | 4.0% | 2.8% | 1.4% | 1.7% | 0.7% | 1.1% |
| Stock comp / revenue | 73.6% | 14.0% | 41.8% | 27.4% | 18.1% | 16.6% | 10.1% | 7.6% | 5.5% | 1.5% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 3.0 | 4.0 | 3.0 | 5.0 | 2.0 | 4.0 | 5.0 | 2.0 |
| Altman Z'' | β88.2 | β24.3 | β81.0 | β146.9 | β34.2 | β20.0 | β34.1 | β104.2 | β100.0 | β177.6 |
| Accruals ratio | 6.7% | β11.3% | β18.2% | β24.3% | 5.7% | β6.8% | 2.3% | β13.2% | β16.0% | β84.0% |
Source: SEC EDGAR XBRL filings (CIK 0001506492). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
