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Dec 31, 2023
CVRx Q4 2023 Earnings Report
CVRx reported fourth quarter and full year results, demonstrating revenue growth and strategic advancements.
Key Takeaways
CVRx reported a strong fourth quarter with a 58% increase in revenue compared to the same period last year, driven primarily by growth in the U.S. heart failure market. The company also highlighted key achievements such as Barostim labeling expansion and CMS' OPPS ruling.
Revenue increased by 58% to $11.3 million compared to Q4 2022.
U.S. revenue grew by 72% to $10.3 million, driven by heart failure product sales.
Gross profit increased by 69% to $9.6 million, with a gross margin of 85%.
Net loss decreased to $9.2 million, or $0.44 per share, compared to $10.5 million, or $0.51 per share, in Q4 2022.
CVRx
CVRx
Forward Guidance
The Company expects to report total revenue between $11.0 million and $12.0 million for the first quarter of 2024.