Item 2.02 Results of Operations and Financial Condition.
Nuwellis, Inc. (the "Company") estimated total product revenue for the three
months ended September 30, 2022 is projected to be approximately $2.066 million,
an 11% increase over the prior-year quarter ended September 30, 2021. Net cash
used in operating activities for the three months ended September 30, 2022 is
projected to be approximately $3.072 million, 31% less than the net cash used in
operating activities for the prior-year quarter ended September 30, 2021. The
Company had a cash balance of approximately $12.1 million as of September 30,
2022. The Company and its auditor have not yet completed their normal quarterly
review procedures for the three months ended September 30, 2022, and as such,
the final results for this period may differ from these estimates. Any such
changes could be material. These estimates should not be viewed as a substitute
for full interim financial statements prepared in accordance with U.S. generally
accepted accounting principles. The preliminary results provided above are not
necessarily indicative of the results to be achieved for the remainder of fiscal
2022 or any future period.
In accordance with General Instruction B.2 of Form 8-K, the information included
in this Current Report on Form 8-K is furnished pursuant to Item 2.02 and shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that section.
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