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CVRx, Inc.

CVRx, Inc.

NASDAQ•CVRX
CEO: Mr. Kevin Hykes
Sector: Healthcare
Industry: Medical - Devices
Listing Date: 2021-06-30
CVRx, Inc., a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure. It sells its products through direct sales force, as well as sales agents and independent distributors in the United States, Germany, and internationally. The company was incorporated in 2000 and is headquartered in Minneapolis, Minnesota.
Contact Information
9201 West Broadway Avenue, Suite 650, Minneapolis, MN, 55445, United States
763-416-2840
www.cvrx.com
Market Cap
$136.55M
P/E (TTM)
-2.6
32.4
Dividend Yield
--
52W High
$18.55
52W Low
$4.30
52W Range
6%
Rank61Top 91.5%
2.0
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2020-2025

Financial Dashboard

Q3 2025 Data

Revenue

$14.69M+9.85%
4-Quarter Trend

EPS

-$0.49-14.04%
4-Quarter Trend

FCF

$0.00-100.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Strong Revenue $14.7M Q3 2025, up 10% over prior period; US sales drove $1.2M increase in units.
Gross Margin Expansion Gross margin reached 87% for the quarter, up 4 points due to lower unit cost efficiencies.
Nine Month Loss Reduced Nine month net loss $41.4M, showing 16% reduction compared to $49.3M loss last year.
SG&A Expenses Decreased Nine month SG&A $66.5M, down 6% driven by $8.0M decrease in non-cash stock compensation.

Risk Factors

Expect Continued Losses Management anticipates operating losses and negative cash flows will continue for the foreseeable future.
Rising Interest Costs Quarterly interest expense increased 54% to $1.5M due to higher borrowings under Loan Agreement.
Supply Chain Vulnerability Dependent on limited third-party suppliers for components, risking shortages and supply chain disruptions.
Stockholder Control Exerted Principal stockholders and management own significant stock, allowing them to exert substantial control over approvals.

Outlook

Liquidity Forecast Positive Existing cash resources expected to meet liquidity needs and debt service for at least two years.
US Commercial Expansion Plan continued investment in US commercial infrastructure, expanding sales force and physician education efforts.
Regulatory Clarity Achieved CMS final rule establishes Category I CPT codes effective January 2026, improving prior authorization predictability.
Future Financing Required Additional funding may be sought for growth strategies, which could result in stockholder equity dilution.

Peer Comparison

Revenue (TTM)

Inogen, Inc.INGN
$347.03M
+4.7%
Lifecore Biomedical, Inc.LFCR
$135.27M
+5.3%
Quanterix CorporationQTRX
$130.10M
-2.5%

Gross Margin (Latest Quarter)

CVRx, Inc.CVRX
86.8%
+3.6pp
908 Devices Inc.MASS
52.5%
+2.8pp
Inogen, Inc.INGN
50.8%
+4.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FHTX$352.66M-5.3105.5%11.0%
QTRX$345.66M-3.6-30.5%9.0%
LFCR$307.97M-9.5-232.8%58.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.4%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:-$0.42
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $14.69M+9.8%
    |
    EPS: $-0.49-14.0%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $13.59M+15.1%
    |
    EPS: $-0.57-12.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $12.35M+14.7%
    |
    EPS: $-0.53-49.0%
    Meet

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 18, 2025|
    Revenue: $51.29M+30.5%
    |
    EPS: $-2.65-33.2%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 1, 2024|
    Revenue: $13.37M+27.2%
    |
    EPS: $-0.57+32.6%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $11.81M+24.3%
    |
    EPS: $-0.65+16.1%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $10.77M+35.0%
    |
    EPS: $-1.04+89.1%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 9, 2024|
    Revenue: $39.30M+74.9%
    |
    EPS: $-1.99+1.5%
    Miss