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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.
CVRx
CVRx
CVRx Revenue by Segment
CVRx Revenue by Geographic Location
Revenue by Segment
U.S. Heart Failure Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
The Company expects to report total revenue between $11.3 million and $12.3 million for the second quarter of 2024.