CTSO earnings analysis
What we found in CTSO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
CytoSorbents' Q1 2026 results show a slight revenue increase of 1.6% year-over-year to $8.9 million, but operating losses improved significantly by 21.7%. However, the gross margin declined to 69.2% due to higher costs, while the company reported an increased net loss of $5.1 million, primarily impacted by foreign currency losses. Management continues to face challenges with geopolitical factors affecting sales and has committed to achieving cash flow breakeven in the second half of 2026.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Slight Revenue Increase
- Q1 2026 revenue increased to $8.9M, up 1.6% year-over-year.
- Improved Operating Loss
- Loss from operations reduced by 21.7% to approximately $3.0M from $3.9M in Q1 2025.
- Real-World Evidence Publication
- Published results reinforce CytoSorb's effectiveness in reducing perioperative bleeding.
- Decrease in R&D Costs
- R&D expenses dropped by 38.4% to $1.0M due to reduced clinical trial costs.
- Lower SG&A Expenses
- SG&A expenses fell by 3.5% to $8.1M year-over-year.
- Strategic Workforce Reduction
- The company reduced its workforce by about 10% to optimize operations.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Geopolitical Sales Delays
- Sales were affected by a $0.5M delay in distributor orders due to geopolitical instability in the Middle East.
- Foreign Currency Loss Impact
- Foreign currency losses of approximately $1.2M compared to a $3.0M gain in Q1 2025 significantly affected net loss.
- Liquidity Concerns
- Cash on hand of $6.3M may not be sufficient to fund operations beyond 12 months.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.07
- Gross margin
- 69.2%
What they said about what is next.
Management expects to reach operational cash flow breakeven in the second half of 2026.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 30, 2026
- CytoSorbents positions itself as a leader in blood purification with a commercial CytoSorb franchise (approved in the EU, distributed in >70 countries with >300,000 devices used cumulatively) and an ongoing regulatory…
- 10-Q · August 7, 2025
- CytoSorbents reported quarter revenue of $9,617,000 (three months ended June 30, 2025), up from $8,842,000 a year earlier and up sequentially vs Q1 2025. Gross margin was ~70.9% while operating loss narrowed to…
- 10-Q · November 7, 2024
- CytoSorbents reported Q3 total revenue of $9,390,388 (up $579,541 or 6.6% vs. $8,810,847 in Q3 2023) and a reduced GAAP loss per share of $(0.04) (vs. $(0.21) prior year). Gross profit declined to $5,281,615 (gross…
- 10-Q · August 13, 2024
- Revenue improved modestly to $9.89M in Q2 2024 (up $473,815 vs Q2 2023) and gross profit increased to $6.50M, while operating loss narrowed to $(3.42)M from $(6.56)M a year earlier. EPS improved to $(0.08) from $(0.14)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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