Nuwellis (NUWE)


Market Price (11/5/2026): $5.26 | Market Cap: $2.1 MilSector: Health Care | Industry: Life Sciences Tools & Services

Nuwellis (NUWE)


Market Price (11/5/2026): $5.26
Market Cap: $2.1 Mil
Sector: Health Care
Industry: Life Sciences Tools & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -3507%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -43%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, Digital Health & Telemedicine, and Precision Medicine. Themes include Geriatric Care, Show more.

Weak multi-year price returns
2Y Excs Rtn is -130%, 3Y Excs Rtn is -182%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -13 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -143%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -138%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -141%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -10675%

High stock price volatility
Vol 12M is 230%

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 444%

Key risks
NUWE key risks include [1] its precarious financial health and persistent Nasdaq delisting risk, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -3507%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -43%
2 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, Digital Health & Telemedicine, and Precision Medicine. Themes include Geriatric Care, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -130%, 3Y Excs Rtn is -182%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -13 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -143%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -138%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -141%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -10675%
7 High stock price volatility
Vol 12M is 230%
8 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 444%
9 Key risks
NUWE key risks include [1] its precarious financial health and persistent Nasdaq delisting risk, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/1/2026

Nuwellis (NUWE) stock has lost about 65% since 7/31/2026 because of the following key factors:

1. Significant Share Dilution from Capital Raising. On July 31, 2026, Nuwellis announced a registered direct offering of 1,310,890 common shares at $2.59 per share, generating approximately $3.4 million in gross proceeds. Concurrently, the company received about $3.1 million from warrant exercises related to its June 2026 public offering. This combined capital infusion was dilutive, increasing the share supply and triggering a sharp repricing from the prior session's close of $4.45, as investors focused on the increased dilution risk.

2. Substantial Earnings Miss in Fiscal Q2 2026. Nuwellis reported its fiscal Q2 2026 earnings on August 13, 2026, posting an earnings per share (EPS) of -$26.64, which was a significant miss compared to analysts' consensus estimate of -$0.68. While the company reported a 14% year-over-year revenue increase to $1.97 million and a strong 76% gross margin, the deep unprofitability and a net loss of $4.8 million (including $1.7 million in non-cash warrant valuation expense) outweighed any operational progress and contributed to investor skepticism.

Show more
Updated on 11/1/2026

Nuwellis (NUWE) stock has lost about 65% since 7/31/2026 because of the following key factors:

1. Significant Share Dilution from Capital Raising. On July 31, 2026, Nuwellis announced a registered direct offering of 1,310,890 common shares at $2.59 per share, generating approximately $3.4 million in gross proceeds. Concurrently, the company received about $3.1 million from warrant exercises related to its June 2026 public offering. This combined capital infusion was dilutive, increasing the share supply and triggering a sharp repricing from the prior session's close of $4.45, as investors focused on the increased dilution risk.

2. Substantial Earnings Miss in Fiscal Q2 2026. Nuwellis reported its fiscal Q2 2026 earnings on August 13, 2026, posting an earnings per share (EPS) of -$26.64, which was a significant miss compared to analysts' consensus estimate of -$0.68. While the company reported a 14% year-over-year revenue increase to $1.97 million and a strong 76% gross margin, the deep unprofitability and a net loss of $4.8 million (including $1.7 million in non-cash warrant valuation expense) outweighed any operational progress and contributed to investor skepticism.

3. Reverse Stock Split to Avoid Delisting. To address its low stock price and meet Nasdaq's minimum bid requirement, Nuwellis implemented a one-for-nine reverse stock split, which became effective on October 26, 2026, with trading on a split-adjusted basis commencing October 27, 2026. This action, approved by the Board on October 13, 2026, is often perceived negatively by the market, signaling severe prior stock underperformance and raising concerns about the company's financial stability and ability to maintain its listing.

4. Persistent Financial Instability and High Bankruptcy Risk. Nuwellis continues to face challenges with persistent unprofitability and negative cash flow. As of July 31, 2026, the company's Altman Z-Score of -66.71 implied a risk of bankruptcy within two years. Despite the capital raised providing a cash runway into fiscal Q3 2027, the ongoing need for financing due to significant losses underscores fundamental concerns about the company's long-term viability.

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Stock Movement Drivers

Fundamental Drivers

The -66.3% change in NUWE stock from 7/31/2026 to 11/4/2026 was primarily driven by a -67.3% change in the company's Shares Outstanding (Mil).
(LTM values as of)731202611042026Change
Stock Price ($)15.665.27-66.3%
Change Contribution By: 
Total Revenues ($ Mil)992.8%
P/S Multiple0.00.00.1%
Shares Outstanding (Mil)00-67.3%
Cumulative Contribution-66.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
NUWE-66.3% 
Market (SPY)2.6%20.3%
Sector (XLV)16.7%-0.8%

Fundamental Drivers

The -98.5% change in NUWE stock from 4/30/2026 to 11/4/2026 was primarily driven by a -94.9% change in the company's P/S Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)355.955.27-98.5%
Change Contribution By: 
Total Revenues ($ Mil)899.0%
P/S Multiple0.20.0-94.9%
Shares Outstanding (Mil)00-73.4%
Cumulative Contribution-98.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
NUWE-98.5% 
Market (SPY)7.0%27.0%
Sector (XLV)30.5%-11.1%

Fundamental Drivers

The -99.4% change in NUWE stock from 10/31/2025 to 11/4/2026 was primarily driven by a -93.5% change in the company's P/S Multiple.
(LTM values as of)1031202511042026Change
Stock Price ($)900.905.27-99.4%
Change Contribution By: 
Total Revenues ($ Mil)898.4%
P/S Multiple0.20.0-93.5%
Shares Outstanding (Mil)00-91.7%
Cumulative Contribution-99.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
NUWE-99.4% 
Market (SPY)13.4%24.0%
Sector (XLV)33.2%-12.1%

Fundamental Drivers

The -100.0% change in NUWE stock from 10/31/2023 to 11/4/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)1031202311042026Change
Stock Price ($)362567.165.27-100.0%
Change Contribution By: 
Total Revenues ($ Mil)898.5%
P/S Multiple0.20.0-93.3%
Shares Outstanding (Mil)00-100.0%
Cumulative Contribution-100.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
NUWE-100.0% 
Market (SPY)89.7%11.7%
Sector (XLV)59.5%-1.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NUWE Return-84%-91%-95%-95%-96%-99%-100%
Peers Return4%-15%-8%-24%55%-3%-6%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
NUWE Win Rate17%25%17%25%33%18% 
Peers Win Rate56%53%47%42%56%59% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
NUWE Max Drawdown-89%-95%-96%-96%-97%-100% 
Peers Max Drawdown-33%-44%-52%-42%-36%-44% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: A, ATEC, CERS, COCH, FRNM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

EventNUWES&P 500
2020 COVID-19 Crash
  % Loss-17.8%-33.7%
  % Gain to Breakeven21.6%50.9%
  Time to Breakeven1 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-65.2%-19.2%
  % Gain to Breakeven187.0%23.8%
  Time to Breakeven13 days105 days

Compare to A, ATEC, CERS, COCH, FRNM

In The Past

Nuwellis's stock fell -17.8% during the 2020 COVID-19 Crash. Such a loss loss requires a 21.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventNUWES&P 500
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-65.2%-19.2%
  % Gain to Breakeven187.0%23.8%
  Time to Breakeven13 days105 days

Compare to A, ATEC, CERS, COCH, FRNM

In The Past

Nuwellis's stock fell -17.8% during the 2020 COVID-19 Crash. Such a loss loss requires a 21.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Nuwellis (NUWE)

Nuwellis, Inc. (NUWE) is a medical device company focused on ultrafiltration therapy. The company specializes in developing, manufacturing, and commercializing medical devices designed to address fluid overload in patients who have not responded to diuretic treatments. Their innovative solutions provide a crucial option for managing excess fluid in a clinical setting.

The core of Nuwellis's product line consists of the Aquadex FlexFlow and Aquadex SmartFlow systems. These systems are specifically engineered to perform ultrafiltration, effectively removing fluid from the body. For example, the Aquadex FlexFlow system is a comprehensive solution that includes a console, a disposable blood set, and a catheter, all working in conjunction to deliver the therapy.

Nuwellis primarily serves hospitals and clinics. In the United States, the company distributes its products through a direct salesforce. Internationally, Nuwellis extends its reach through a network of independent specialty distributors, covering a broad geographical market that includes countries across Europe, Asia, South America, and the Middle East.

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1. A specialized Medtronic focused on devices for removing excess body fluid.

2. Like Baxter International or Fresenius Medical Care, but exclusively for ultrafiltration therapy to treat fluid overload.

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  • Aquadex FlexFlow system: A medical device system for ultrafiltration therapy, indicated for patients with fluid overload who have failed diuretics, and includes a console, disposable blood set, and catheter.
  • Aquadex SmartFlow system: A medical device system used for ultrafiltration therapy in patients suffering from fluid overload who have failed diuretics.

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Nuwellis (NUWE) sells its products primarily to other companies and institutions. However, the provided background information does not identify specific named major customer companies or their public symbols.

Based on the description, Nuwellis's major customers fall into the following categories:

  • Hospitals: These healthcare institutions in the United States purchase the Aquadex systems through Nuwellis's direct salesforce for use in ultrafiltration therapy.
  • Clinics: These medical facilities in the United States also acquire Nuwellis's products via its direct salesforce.
  • Independent specialty distributors: These companies facilitate sales in various international markets, including but not limited to Austria, Brazil, Czech Republic, Germany, Greece, Hong Kong, India, Israel, Italy, Romania, Singapore, Slovakia, Spain, Switzerland, Thailand, the United Arab Emirates, and the United Kingdom.

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  • Medical Electronic Devices
  • Sonean
  • Spectrum Plastics Group
  • Biomerics

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John Erb, President and Chief Executive Officer

John Erb is a highly experienced medical technology executive with over 40 years of leadership in med-tech, cardiovascular innovation, and complex healthcare organizations. He currently serves as President and CEO of Nuwellis, marking his second tenure leading the company after previously serving as CEO and as Chairman of the Board. He began his career at Johnson & Johnson, holding operational leadership roles, and has since served as President and CEO of multiple medical device companies, including NuAx, Inc., IntraTherapeutics, Inc., and Schneider Worldwide (a Pfizer division). Erb has extensive experience as a board chairman and director across the medical technology sector.

Carisa Schultz, Chief Financial Officer

Carisa Schultz oversees finance, accounting, treasury, and corporate development at Nuwellis, bringing deep experience in public-company healthcare finance and medical technology. She was appointed CFO effective February 2, 2026. Most recently, she served as Vice President of Finance at NeueHealth (formerly Bright Health Group), a healthcare company previously traded on the New York Stock Exchange, where she led enterprise finance, treasury, and corporate development activities. Her background also includes early career experience at Boston Scientific and Big Four public accounting.

Neil P. Ayotte, Esq., Senior Vice President, General Counsel, Secretary, and Chief Compliance Officer

Neil Ayotte joined Nuwellis in 2021, bringing over 30 years of legal and business experience, including 16 years in the medical device sector. He possesses deep expertise in corporate governance and regulatory compliance. Previously, he was Executive Vice President, Secretary, and General Counsel of Bluestem Group, Inc., and held multiple leadership positions at Medtronic.

Betsy Riemenschneider, Commercial Leader

Betsy Riemenschneider has more than 20 years of experience in healthcare sales, clinical consulting, and commercial leadership. She joined Nuwellis in 2016 and is responsible for the company's commercial strategy and sales execution, with a focus on growth, team development, and expanding access to ultrafiltration therapy.

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The key risks to Nuwellis's business are:
  1. Significant Financial Distress and Going Concern Risk: Nuwellis faces substantial financial challenges, evidenced by consistent net losses and negative profitability metrics, including operating and net margins of -118.84% and -176.45%, respectively. The company's Altman Z-Score indicates it is in "financial distress" with a "high risk of bankruptcy." Furthermore, Nuwellis carries a "going concern risk" and has a continued reliance on external financing to support operations.

  2. Concentrated Product Portfolio and Market Competition: Nuwellis's business is heavily concentrated on its Aquadex FlexFlow and Aquadex SmartFlow systems for ultrafiltration therapy. While the company holds a "niche-leader position" in this specialized segment, it faces significant competition from larger players like Fresenius Medical Care and Baxter International in the broader fluid management market. The company has experienced overall revenue declines and weaker performance in key segments such as critical care.

  3. Regulatory Scrutiny and Product Safety Issues: As a medical device company, Nuwellis is subject to intense regulatory oversight. The FDA has issued alerts concerning "extracorporeal blood circuit issues" with Nuwellis devices, leading to a recall identified by the FDA as the "most serious type," potentially causing "serious injury or death" if affected products are used. Such issues underscore the inherent risks of manufacturing or design defects, which can result in recalls, harm reputation, and lead to increased regulatory scrutiny.

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The addressable market for Nuwellis's main products, the Aquadex FlexFlow and Aquadex SmartFlow systems, is estimated at $717 million in the U.S.. This expanded market opportunity is driven by the company's dedicated focus on the pediatric market, where Aquadex therapy is being adopted. Nuwellis, Inc. has exited international operations to focus exclusively on the U.S. market. The Aquadex SmartFlow system is used for ultrafiltration therapy in adult and pediatric patients weighing 20 kg or more who suffer from fluid overload unresponsive to diuretics.

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Nuwellis, Inc. (NUWE) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:

  1. Increased U.S. Console Sales and Consumables Utilization: The company has demonstrated strong adoption of its Aquadex systems in the United States, with a 208% increase in U.S. console sales in Q4 2025 and a fourfold sequential increase in Q3 2025. This growth in console placements is expected to lead to a corresponding increase in the utilization of disposable blood sets and catheters, evidenced by a 4% year-over-year growth in consumables utilization in Q1 2025 and a 15% increase in Q3 2025.
  2. Expansion in Targeted Patient Categories: Nuwellis is focusing on deepening its penetration within existing accounts, particularly in the critical care and cardiorenal markets. Significant growth has been observed in specific patient populations, with heart failure revenue increasing 48% year-over-year in Q4 2025 and pediatric revenue growing 38% in Q1 2025 and 16% in Q4 2025. The company is also advancing its Vivian pediatric CRRT system, which could further support growth in the pediatric segment.
  3. Favorable Reimbursement and Outpatient Market Growth: A significant driver is the higher CMS reimbursement for Aquadex therapy in outpatient settings. Effective January 1, 2025, CMS reassigned Aquadex to a higher outpatient reimbursement level, nearly quadrupling the facility fee to $1,639 per day. This enhanced reimbursement is expected to drive the expansion of the outpatient opportunity pipeline, particularly for heart failure treatment, as more hospitals explore outpatient use.
  4. New Product Launches and Strategic Acquisitions: Nuwellis plans to relaunch its Clarity product mid-year 2026, which is expected to contribute to future revenue. Furthermore, the company executed a definitive agreement to acquire Rendiatech, an acquisition aimed at expanding its cardiorenal portfolio and strengthening its market position. The introduction of a new 24-hour Aquadex circuit for hospital-based outpatient use also offers increased flexibility and consistency in therapy.

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Share Repurchases

No information available regarding share repurchases over the last 3-5 years.

Share Issuance

  • In June 2025, Nuwellis announced the pricing of a public offering of 406,755 shares of common stock and pre-funded warrants to purchase 14,085,998 shares, along with Series A and B Warrants. The offering was priced at $0.30 per share for common stock and accompanying warrants, and $0.2999 per pre-funded warrant with accompanying warrants.
  • Shareholders approved an increase in the authorized number of common shares from 100,000,000 to 200,000,000 in August 2025.
  • Nuwellis completed a one-for-forty-two (1-42) reverse stock split of its Common Stock, effective July 7, 2025, to help comply with Nasdaq Capital Market's continued listing requirements.

Inbound Investments

  • In January 2026, Nuwellis closed a $5.0 million private placement and warrant inducement transaction to strengthen its capital position.
  • The company completed a $5.0 million gross capital raise during the second quarter of 2025.
  • Nuwellis raised approximately $7 million in net proceeds through financing activities during 2025, supporting operations.

Outbound Investments

  • Nuwellis executed a definitive stock purchase agreement to acquire Rendiatech in January 2026, aiming to expand its cardiorenal portfolio.

Capital Expenditures

  • Nuwellis reported $98K in capital expenditures in Q3 2025.
  • Total capital expenditures for the full year 2025 were $90K.

Better Bets vs. Nuwellis (NUWE)

Peer Outperformance in Life Sciences Tools & Services

NUWE has trailed 100% of its 107 Life Sciences Tools & Services peers over 5Y. Among the peers that beat it are A, MTD and TMO. Life Sciences Tools & Services ranks 8th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Life Sciences Tools & Services constituents that NUWE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
1%
of 123 industry peers · -99.4% return
3Y
0%
of 113 industry peers · -100.0% return
5Y
0%
of 107 industry peers · -100.0% return
Life Sciences Tools & Services peers with revenue growth within 4pp of NUWE's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
NUWE Nuwellis 3.1% -0.0x -99.4%-100.0%-100.0% —
A Agilent Technologies 2.0% 34.7x 22.2%66.2%16.5% +116pp
MTD Mettler-Toledo International 1.6% 38.3x 21.3%67.0%16.1% +116pp
TMO Thermo Fisher Scientific 3.0% 36.9x 25.4%56.8%12.0% +112pp
IQV IQVIA 5.3% 31.2x 25.0%33.8%3.9% +104pp
DHR Danaher 6.9% 38.2x 10.7%20.8%-11.3% +89pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Life Sciences Tools & Services is NUWE's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 13.4%63.7%103.3% CAH 490% · MCK 391% · COR 194%
Health Care Services 20 44.0%33.3%11.6% HIMS 220% · RDNT 148% · DGX 96%
Managed Health Care 8 44.6%5.6%0.6% OSCR 107% · HQY 59% · ELV 11%
Health Care Facilities 25 16.9%18.4%-3.0% THC 302% · NHC 241% · EHC 202%
Health Care Equipment 50 14.4%18.7%-15.0% UFPT 408% · GKOS 348% · PLSE 147%
Pharmaceuticals 60 -5.1%8.2%-35.2% LQDA 999% · KNSA 546% · LLY 448%
Health Care Supplies 11 34.9%23.0%-36.1% LNTH 267% · HAE 76% · MMSI 33%
Life Sciences Tools & Services ← 108 -6.2%-10.3%-74.1% AXGN 288% · NTRA 253% · MEDP 189%
Biotechnology 364 -21.1%-31.5%-81.7% ELVN 1112% · TRVI 1046% · DNTH 930%
Health Care Technology 21 -23.4%-56.5%-82.3% VEEV -3% · DOCS -52%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

NUWEAATECCERSCOCHFRNMMedian
NameNuwellis Agilent .Alphatec Cerus Envoy Me.Freenome  
Mkt Price5.50177.208.232.487.0911.277.66
Mkt Cap0.050.01.30.5--0.9
Rev LTM97,3728402270-227
Op Inc LTM-131,639-26-2-24--13
FCF LTM-131,267-100-22--10
FCF 3Y Avg-111,257-71-3-20--11
CFO LTM-121,609613-22-3
CFO 3Y Avg-111,6305-1-19--1

Growth & Margins

NUWEAATECCERSCOCHFRNMMedian
NameNuwellis Agilent .Alphatec Cerus Envoy Me.Freenome  
Rev Chg LTM8.4%8.6%15.3%13.7%-6.8%-8.6%
Rev Chg 3Y Avg3.1%2.0%23.2%13.8%1.8%-3.1%
Rev Chg Q14.1%8.1%12.6%9.5%-34.6%-9.5%
QoQ Delta Rev Chg LTM2.8%1.9%3.0%2.3%-11.5%-2.3%
Op Inc Chg LTM-30.3%13.5%65.3%74.0%-19.9%-13.5%
Op Inc Chg 3Y Avg8.9%5.3%38.1%54.0%-24.1%-8.9%
Op Mgn LTM-142.9%22.2%-3.0%-1.1%-11,411.1%--3.0%
Op Mgn 3Y Avg-138.4%22.1%-12.4%-4.2%-8,951.6%--12.4%
QoQ Delta Op Mgn LTM1.0%0.7%1.7%-0.4%-1,529.9%-0.7%
CFO/Rev LTM-138.3%21.8%7.3%1.5%-10,402.4%-1.5%
CFO/Rev 3Y Avg-125.7%23.8%-0.6%-0.5%-8,093.2%--0.6%
FCF/Rev LTM-140.8%17.2%-1.2%0.2%-10,485.5%--1.2%
FCF/Rev 3Y Avg-127.3%18.3%-12.1%-1.9%-8,322.7%--12.1%

Valuation

NUWEAATECCERSCOCHFRNMMedian
NameNuwellis Agilent .Alphatec Cerus Envoy Me.Freenome  
Mkt Cap0.050.01.30.5--0.9
P/S0.06.81.52.2--1.9
P/Op Inc-0.030.5-50.6-202.9---25.3
P/EBIT-0.028.3-30.5-2,123.5---15.2
P/E-0.034.7-14.9-68.5---7.5
P/CFO-0.031.121.1143.3--26.1
Total Yield-10,669.3%3.5%-6.7%-1.5%---4.1%
Dividend Yield0.0%0.6%0.0%0.0%--0.0%
FCF Yield 3Y Avg-4,093.9%3.0%-8.5%-1.0%---4.8%
D/E1.80.10.50.1--0.3
Net D/E-33.60.00.40.0--0.0

Returns

NUWEAATECCERSCOCHFRNMMedian
NameNuwellis Agilent .Alphatec Cerus Envoy Me.Freenome  
1M Rtn-11.9%3.6%-23.2%6.0%9.1%-33.0%-4.2%
3M Rtn-64.3%25.8%-14.0%9.3%9.1%3.3%6.2%
6M Rtn-98.4%51.1%17.7%-4.2%9.1%-13.4%2.4%
12M Rtn-99.4%22.2%-57.6%71.0%9.1%-13.4%-2.1%
3Y Rtn-100.0%66.2%-20.6%43.4%9.1%-13.4%-2.1%
1M Excs Rtn-9.5%7.8%-18.7%9.3%12.3%-27.9%-0.8%
3M Excs Rtn-60.6%27.4%-8.8%8.8%10.9%5.1%6.9%
6M Excs Rtn-101.3%48.3%15.0%-7.1%6.3%-16.1%-0.4%
12M Excs Rtn-110.3%12.9%-67.7%52.4%-1.3%-23.8%-12.6%
3Y Excs Rtn-185.2%-2.6%-88.6%5.5%-72.2%-94.8%-80.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Fluid overload899  
Single Segment   9 
Fluid management    8
Total89998


Net Income by Segment
$ Mil202520242023
Fluid overload-18-11-20
Total-18-11-20


Price Behavior

Price Behavior
Market Price$5.27 
Market Cap ($ Bil)0.0 
First Trading Date05/24/2017 
Distance from 52W High-99.6% 
   50 Days200 Days
DMA Price$6.35$228.88
DMA Trenddowndown
Distance from DMA-17.0%-97.7%
 3M1YR
Volatility216.6%230.3%
Downside Capture804.28719.82
Upside Capture319.8044.38
Correlation (S&P 500)20.6%24.7%
NUWE Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta6.995.434.616.604.371.62
Up Beta-42.65-6.710.3210.563.940.73
Down Beta-0.36-0.29-0.776.464.152.21
Up Capture1519%1118%493%-40%41%-6%
Bmk +ve Days12182862130427
Stock +ve Days917224189288
Down Capture826%546%531%328%194%114%
Bmk -ve Days10253664121325
Stock -ve Days12254182152438

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NUWE
NUWE-99.7%214.4%-1.72-
Sector ETF (XLV)33.1%16.7%1.53-13.4%
Equity (SPY)13.2%12.9%0.6824.9%
Gold (GLD)1.0%28.8%0.0320.5%
Commodities (DBC)35.9%21.2%1.348.4%
Real Estate (VNQ)14.3%14.1%0.70-5.8%
Bitcoin (BTCUSD)-28.2%43.4%-0.6519.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NUWE
NUWE-96.9%183.4%-1.11-
Sector ETF (XLV)9.3%15.3%0.400.9%
Equity (SPY)12.5%17.2%0.5511.8%
Gold (GLD)17.3%19.1%0.739.3%
Commodities (DBC)8.0%19.6%0.293.8%
Real Estate (VNQ)1.8%18.9%-0.017.6%
Bitcoin (BTCUSD)5.5%51.5%0.296.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NUWE
NUWE-91.0%193.6%-0.71-
Sector ETF (XLV)12.5%16.8%0.611.0%
Equity (SPY)15.4%18.0%0.736.3%
Gold (GLD)11.9%16.5%0.595.0%
Commodities (DBC)7.4%18.1%0.333.8%
Real Estate (VNQ)5.7%20.7%0.233.0%
Bitcoin (BTCUSD)61.0%66.2%1.014.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 9302026-46.6%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity0.0 Mil
Short % of Basic Shares443.7%

Earnings Returns History

Updated 9/16/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/13/20260.8%-13.8%-38.7%
5/12/20260.0%-5.1%-86.4%
3/10/20263.8%-16.9%-16.9%
11/12/2025-8.4%-15.0%-19.1%
8/14/20252.5%-0.2%-24.0%
5/13/20250.9%-3.0%-62.7%
3/11/2025-4.0%-7.9%-39.1%
11/12/2024-5.9%-34.1%-36.6%
...
SUMMARY STATS   
# Positive1328
# Negative122317
Median Positive2.5%28.3%6.4%
Median Negative-8.3%-13.8%-34.1%
Max Positive54.0%45.1%33.2%
Max Negative-27.9%-50.5%-86.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/13/20260.8%-13.8%-38.7%
5/12/20260.0%-5.1%-86.4%
3/10/20263.8%-16.9%-16.9%
11/12/2025-8.4%-15.0%-19.1%
8/14/20252.5%-0.2%-24.0%
5/13/20250.9%-3.0%-62.7%
3/11/2025-4.0%-7.9%-39.1%
11/12/2024-5.9%-34.1%-36.6%
8/13/20246.1%-9.8%-33.6%
5/7/202454.0%45.1%33.2%
3/6/20242.6%-6.9%-21.5%
11/7/2023-5.5%-16.1%-16.2%
8/8/20230.9%-13.2%-22.2%
5/9/2023-27.9%-38.4%-33.5%
3/1/20232.4%-20.7%-38.0%
1/9/202311.5%-14.1%18.8%
11/8/2022-12.2%-50.5%-51.9%
8/9/2022-8.6%-2.8%24.3%
5/10/2022-4.8%-1.6%2.0%
3/1/20221.1%-11.9%4.3%
11/9/2021-9.6%-15.0%-34.2%
8/10/202116.8%11.4%3.0%
5/11/2021-8.2%-14.2%1.8%
3/3/2021-10.5%-17.8%-34.1%
11/10/2020-6.4%-7.2%8.6%
SUMMARY STATS   
# Positive1328
# Negative122317
Median Positive2.5%28.3%6.4%
Median Negative-8.3%-13.8%-34.1%
Max Positive54.0%45.1%33.2%
Max Negative-27.9%-50.5%-86.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
12/31/202503/11/202610-K
09/30/202511/12/202510-Q
06/30/202508/14/202510-Q
03/31/202505/13/202510-Q
12/31/202403/11/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
03/31/202405/08/202410-Q
12/31/202303/11/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/03/202310-K
09/30/202211/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
12/31/202503/11/202610-K
09/30/202511/12/202510-Q
06/30/202508/14/202510-Q
03/31/202505/13/202510-Q
12/31/202403/11/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
03/31/202405/08/202410-Q
12/31/202303/11/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/03/202310-K
09/30/202211/08/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202103/03/202210-K
09/30/202111/10/202110-Q
06/30/202108/12/202110-Q
03/31/202105/13/202110-Q
12/31/202003/25/202110-K
09/30/202011/12/202010-Q
06/30/202008/05/202010-Q
03/31/202005/14/202010-Q
12/31/201903/05/202010-K
09/30/201911/08/201910-Q
Core Cache Last Updated: 11/4/2026