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Mar 31, 2023
CVRx Q1 2023 Earnings Report
CVRx's first quarter performance demonstrated solid execution with significant revenue growth and progress in the U.S. heart failure business.
Key Takeaways
CVRx reported a strong first quarter in 2023, with revenue reaching $8.0 million, a 96% increase compared to the same period in 2022. The company saw substantial growth in the U.S. heart failure business, driven by increased adoption of Barostim. Gross profit and gross margin also improved significantly.
Revenue increased by 96% to $8.0 million compared to Q1 2022.
U.S. revenue grew by 127% to $6.9 million, driven by the heart failure business.
Gross profit increased by 113% to $6.7 million, with gross margin improving to 83%.
The number of active implanting centers increased to 122 as of March 31, 2023.
CVRx
CVRx
CVRx Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
For the second quarter of 2023, the Company expects to report total revenue between $8.2 million and $8.8 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income