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Mar 31, 2024
CVRx Q1 2024 Earnings Report
CVRx reported a solid first quarter, marked by commercial execution challenges in the U.S. Heart Failure business due to a recent management transition, while taking steps to address these challenges and broaden the leadership team.
Key Takeaways
CVRx reported a 35% increase in revenue to $10.8 million for Q1 2024 compared to Q1 2023. The U.S. revenue increased by 42% to $9.8 million, driven by growth in the U.S. HF business. However, the company experienced commercial execution challenges in the U.S. Heart Failure business during a management transition.
Total revenue for Q1 2024 was $10.8 million, a 35% increase year-over-year.
U.S. revenue for Q1 2024 was $9.8 million, a 42% increase year-over-year.
Gross profit for Q1 2024 was $9.2 million, a 38% increase year-over-year, with a gross margin of 85%.
Net loss for Q1 2024 was $22.2 million, or $1.04 per share, compared to a net loss of $11.4 million, or $0.55 per share, for Q1 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects to report total revenue between $11.3 million and $12.3 million for the second quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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