Revenue Growth
Q1 2026 revenue was $2.4 million, up 26% year-over-year from $1.9 million, driven by stronger console and circuit sales.
Console and Circuit Sales Momentum
The company sold 15 Aquadex consoles in the quarter (including upgrades) and reported a 15% increase in circuit sales, reflecting continued growth in patients treated with Aquadex therapy.
Gross Margin Improvement
Gross margin improved to 70.1% in Q1 2026, a 14% increase year-over-year, attributed to improved pricing, favorable product mix, and transition to contract manufacturing (KDI).
Pediatric Commercial Traction
Pediatrics now represent ~50% of total U.S. revenue; pediatric footprint expanded to 47 centers nationwide, including placements at 6 of the top children's hospitals — validating pediatrics as a clear growth category.
Strategic Acquisition and Product Expansion
Completed the acquisition of RendiaTech (March 2026) to add automated kidney function monitoring capabilities to the cardiorenal platform, broadening clinical value around precision fluid removal and earlier kidney insight.
Intellectual Property and Clinical Leadership
Issued a new U.S. patent supporting advanced safety design for pediatric extracorporeal therapy (supporting the Vivien pediatric CRRT system in development) and appointed Dr. Stuart Goldstein as director of clinical strategy.
Strengthened Leadership, Board, and Field Sales
Appointed Carisa Schultz as CFO, added Martin Emerson to the board and reappointed David McDonald; returned three experienced sales leaders and expanded coverage (e.g., new South Texas territory) to support commercialization.
Capital and Balance Sheet Actions
Completed approximately a $5 million private placement and warrant inducement transaction, and reports no debt on the balance sheet as of 03/31/2026 (cash and restricted cash ~ $2.2 million).
Operational Discipline Target
Announced a cash burn reduction plan intended to reduce monthly cash burn by approximately 50% by Q4 2026 while focusing resources on high-value commercial areas.