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Dec 31, 2022
CVRx Q4 2022 Earnings Report
CVRx's financial performance increased significantly, driven by growth in the U.S. heart failure business and expansion into new sales territories.
Key Takeaways
CVRx reported a strong fourth quarter and full year 2022, with revenue increasing by 96% in Q4 compared to the prior year. The growth was primarily driven by the U.S. heart failure business, with increased adoption of Barostim and expansion into new sales territories.
Revenue for Q4 2022 was $7.2 million, a 96% increase over Q4 2021.
U.S. revenue for Q4 2022 was $6.0 million, a 109% increase over Q4 2021.
Gross profit for Q4 2022 was $5.7 million, a 112% increase over Q4 2021, with a gross margin of 79%.
The company had 106 active implanting centers as of December 31, 2022, compared to 91 as of September 30, 2022.