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…
Earnings analysis · 10-Q
CTSO earnings analysis
Filed May 13, 2026 · Our reading of the company's report
The latest report
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,…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.07
- Gross margin
- 69.2%
What stood out
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Slight Revenue Increase
Q1 2026 revenue increased to $8.9M, up 1.6% year-over-year.
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Improved Operating Loss
Loss from operations reduced by 21.7% to approximately $3.0M from $3.9M in Q1 2025.
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Real-World Evidence Publication
Published results reinforce CytoSorb's effectiveness in reducing perioperative bleeding.
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Decrease in R&D Costs
R&D expenses dropped by 38.4% to $1.0M due to reduced clinical trial costs.
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Lower SG&A Expenses
SG&A expenses fell by 3.5% to $8.1M year-over-year.
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Strategic Workforce Reduction
The company reduced its workforce by about 10% to optimize operations.
What to watch
-
Geopolitical Sales Delays
Sales were affected by a $0.5M delay in distributor orders due to geopolitical instability in the Middle East.
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Foreign Currency Loss Impact
Foreign currency losses of approximately $1.2M compared to a $3.0M gain in Q1 2025 significantly affected net loss.
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Liquidity Concerns
Cash on hand of $6.3M may not be sufficient to fund operations beyond 12 months.
Management's outlook
Management expects to reach operational cash flow breakeven in the second half of 2026.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.