CVRx reports prelim Q4 revenue ~$11.2M (+57% YoY), FY2023 ~$39.2M (+74%); CEO Yared plans retirement

CVRx, Inc.

Preliminary Q4 2023 revenue $11.2M-$11.3M, up 56-58% YoY from $7.2M.
Preliminary FY2023 revenue $39.2M-$39.3M, up 74-75% YoY from $22.5M.
FY2024 guidance: revenue $53M-$57M, gross margin 83-84%, OpEx $86M-$90M.
Active implanting centers grew to 178 (up from 159); cash $91M as of Dec 31, 2023.
CEO Nadim Yared plans to retire after successor identified; board search underway.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Nadim Yared

President and Chief Executive Officer

CVRX · CVRx, Inc.

Filed: January 8, 2024, 6:59 PM ET

its President and Chief Executive Officer, Nadim Yared, provided notice to the Company’s Board of Directors (the “Board”) of his plans to retire upon the completion of a deliberate succession process and the appointment of a successor.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVRx, Inc. reported the fiscal year ended December 31, 2023 results: revenue approximately $39.2 million to $39.3 million. Guidance initiated.

Period: the fiscal year ended December 31, 2023
Revenue: approximately $39.2 million to $39.3 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

Total revenue for full year 2023 is expected to be in the range of approximately $39.2 million to $39.3 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVRx, Inc. reported the fourth quarter ended December 31, 2023 results: revenue approximately $11.2 million to $11.3 million. Guidance initiated.

Period: the fourth quarter ended December 31, 2023
Revenue: approximately $11.2 million to $11.3 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

Total revenue for the fourth quarter of 2023 is expected to be in the range of approximately $11.2 million to $11.3 million

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Nadim Yared departed as President and Chief Executive Officer at CVRx, Inc..

Action: plans to retire
Role: President and Chief Executive Officer

Exact text from the filing

its President and Chief Executive Officer, Nadim Yared, provided notice to the Company’s Board of Directors (the “Board”) of his plans to retire upon the completion of a deliberate succession process and the appointment of a successor.

View on SEC.gov

53 earnings releases filed in the last 30 days. Browse all earnings releases →

CVRx, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-002089

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