Nuwellis (NUWE)
Hospital ultrafiltration systems and disposable treatments for fluid overload.
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Generates revenue from Aquadex consoles and treatment-specific disposable circuits and catheters used to remove excess fluid in hospitalized patients. Commercial activity is concentrated in the United States and depends on one fluid-overload platform, provider adoption, and third-party reimbursement.
Commercializes the Aquadex System, a hospital ultrafiltration platform that removes excess salt and water from adult and pediatric patients whose fluid overload has not responded to medical management. The console is sold, leased, or rented, with disposable circuits and catheters used for each treatment.
Sells principally through a direct U.S. force to hospitals and clinics, serving pediatric, critical-care, and heart-failure settings. It retains sales, customer service, product design, and post-market surveillance while KDI Precision Manufacturing exclusively makes the console, circuits, and catheters.
Expands its development platform with acquired Rendiatech assets for automated urine-output and kidney-function monitoring, which had no commercial operations following acquisition. Near-term commercial prospects depend on Aquadex, hospital adoption, payer- and setting-dependent reimbursement, FDA requirements, and the exclusive manufacturing relationship.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $3.9M · Total debt $200.0K · Total assets $9.1M · Shareholders' equity −$2.1M
- Revenue
- $2.0M
- Operating income
- −$3.2M
- Net income
- −$4.8M
No dividends on record.
| Institutions | 0.23% | 8.3K shares | |
|---|---|---|---|
| 8 holders · as of Mar 31, 2026 | |||
| Insiders | 0.02% | 748 shares | |
| 1 holder · as of Jun 11, 2025 | |||
| Other | 99.75% | 3.64M shares | |
| remainder | |||
3.65M company shares as of Sep 23, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Two share counts disagree (3.65M in the company's Sep 23, 2026 report, 92.2K elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Armistice Capital, LLCInstitution | 0.19% | 236,200 | as of Mar 31, 2026 |
Geode Capital Management, LLCInstitution | 0.03% | 44,176 | as of Mar 31, 2026 |
John L. ErbInsiderdirector, 10 percent owner, officer: CEO and President | 0.02% | 748 | filed Jun 11, 2025 |
Tower Research Capital LLC (TRC)Institution | 0.00% | 5,189 | as of Mar 31, 2026 |
Citigroup IncInstitution | 0.00% | 5,126 | as of Mar 31, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Fresenius Medical Care (ADR)
ICU CRRT alternative in adult fluid-overload cases.
- Outset Medical
Acute hospital dialysis alternative for fluid-removal budgets.
- Medtronic
Adjacent pediatric CRRT option for fluid overload and AKI.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nuwellis | $0.8500 | +2.87% | $76.2K | — | — | 0.0 | +14.1% |
| Fresenius Medical Care (ADR) | $22.45 | −0.22% | $12.09B | 11.8 | 8.7 | 0.5 | −0.7% |
| Outset Medical | $3.13 | −4.86% | $61.0M | — | — | 0.5 | +0.7% |
| Medtronic | $89.19 | −1.74% | $116.19B | 22.4 | 14.9 | 3.1 | +13.7% |
| Median | 17.1 | 11.8 | 0.5 | +0.7% |