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Sep 30, 2021
CVRx Q3 2021 Earnings Report
CVRx reported a significant revenue increase driven by U.S. heart failure business and expansion of sales territories.
Key Takeaways
CVRx reported a 241% increase in revenue for the third quarter of 2021, reaching $3.4 million, driven primarily by growth in the U.S. heart failure business. The company's gross profit also saw a substantial increase, while operating expenses rose due to increased headcount and marketing activities. The company continues to expect revenue between $3.9 million and $4.5 million for the fourth quarter of 2021.
Revenue increased by 241% to $3.4 million compared to the same quarter last year.
U.S. revenue grew by 769% to $2.6 million, driven by the heart failure business.
Gross profit increased by 221% to $2.5 million.
The company had 38 active implanting centers as of September 30, 2021, compared to 31 as of June 30, 2021.
CVRx
CVRx
CVRx Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
The company expects to report total revenue between $3.9 million and $4.5 million for the fourth quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income