CVRx Q1 revenue $8.0M (+96% YoY); US HF sales surge 132%; raises full-year guidance

CVRx, Inc.

2023-Q1 EPS reported -$0.55 revenue$7,979,000

Net loss of $11.4M ($0.55 per share) vs $10.0M ($0.49) in prior year quarter.
U.S. heart failure revenue $6.8M (+132% YoY); active implanting centers grew to 122 (118% YoY).
FY 2023 revenue guidance raised to $35.5M-$38.0M (prior $35M-$38M); gross margin guidance improved to 80%-83%.
Q2 2023 revenue expected between $8.2M and $8.8M; operating expenses $76M-$80M for full year.
Cash and equivalents $103.3M at quarter end; net cash used in ops and investing $10.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

CVRx, Inc. reported the first quarter of 2023 results: revenue $8.0 million, net income Net loss was $11.4 million, or $0.55 per share, EPS $0.55 per share. Guidance reaffirmed.

Period: the first quarter of 2023
Revenue: $8.0 million
Net income: Net loss was $11.4 million, or $0.55 per share
EPS: $0.55 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

year quarter ● Active implanting centers in the U.S. grew to 122, an increase of 118% over the first quarter of 2022 ● Worldwide revenue for the first quarter of 2023 was $8.0 million, an increase of 96% over prior year quarter “I am thrilled with our first quarter performance, which demonstrated solid execution on multiple fronts. We were able to share the

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Source: SEC EDGAR

accession 0001104659-23-051393

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