CytoSorbents Q1 product sales up 14% to $9.0M; gross margin expands to 76%

Cytosorbents Corp

2024-Q1 EPS reported -$0.12 revenue$9,786,292

Product sales $9.0M, +14% YoY from $7.9M and +22% sequentially from Q4 2023 ($7.3M).
Product gross margins 76% (excl. $304K one-time adjustment), up from 68% in Q1 2023.
Total revenue $9.8M (+4% YoY) as grant income fell 48% to $0.8M on completion of prior grants.
Plans FDA De Novo and Health Canada submissions for DrugSorb-ATR in Q3 2024; STAR-T data presented at AATS.
Cash $10.1M (incl. $1.5M restricted) expected to fund operations into Q4 2024; seeking non-dilutive financing.

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 0.95

Cytosorbents Corp reported the quarter ended March 31, 2024 results: revenue $9.8 million.

Period: the quarter ended March 31, 2024
Revenue: $9.8 million
Result: reported results

Exact text from the filing

$7.9 million in Q1 2023, an increase of 14%, and up 22% sequentially from $7.3 million in Q4 2023 · Total revenue, including product sales and grant income, for Q1 2024 was $9.8 million, an increase of 4% compared to $9.4 million in Q1 2023 · Q1 2024 product gross margins increased to approximately 76%, (excluding the impact of a one-time,

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Source: SEC EDGAR

accession 0001104659-24-059457

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