Nuwellis Announces Preliminary Results For Q3 2024; Expects To Report Revenue Of ~$2.4M; Revenue Growth Of 28% In The Pediatric Customer Category Compared YoY; 70% Gross Margin, A 12.7% Improvement Compared To 57.3% YoY; Total Operating Cost Reduction Of ~30% YoY
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Nuwellis, Inc. (NASDAQ:NUWE) announced preliminary Q3 2024 results, expecting $2.4M in revenue, a 28% growth in the pediatric category, a 70% gross margin, and a 30% reduction in operating costs. The company also terminated a license agreement with SeaStar Medical, receiving $900,000 in settlement.
November 01, 2024 | 8:17 pm
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Nuwellis, Inc. expects to report $2.4M in Q3 2024 revenue, with significant growth in the pediatric category and improved gross margins. The termination of a license agreement with SeaStar Medical results in a $900,000 settlement.
The preliminary results indicate strong financial performance with revenue growth and improved margins, which are positive indicators for the stock. The settlement with SeaStar Medical also provides additional cash inflow.
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