CVRX earnings analysis
What we found in CVRX'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
CVRx reported Q1 2026 results with revenue of $14.8 million, reflecting a 20% increase year-over-year, and an EPS loss of -$0.50, beating expectations slightly. The company continues to expand its U.S. market presence while facing challenges in Europe, impacting overall revenue dynamics.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue reached $14.8 million, a 20% increase from $12.3 million in Q1 2025.
- U.S. Revenue Surge
- U.S. sales were $13.7 million, up 22% from $11.2 million year-over-year.
- Improved Gross Margin
- Gross margin increased to 87% in Q1 2026 from 84% in Q1 2025.
- Lower Operating Loss
- Loss from operations improved to -$12.2 million from -$13.4 million in Q1 2025.
- Active Implanting Centers Rise
- Active implanting centers in the U.S. grew to 257 from 227 year-over-year.
- Extended Loan Agreement
- Increased Term Loan availability to $100 million to support commercialization efforts.
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.
- High Operating Expenses
- Total operating expenses increased to $25.0 million from $23.7 million, impacting net loss.
- European Revenue Decline
- European revenue slightly decreased by 2% to $1.1 million from $1.1 million year-over-year.
- Continued Net Loss
- Net loss narrowed to $13.1 million from $13.8 million, but losses persist.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.5
- Gross margin
- 87%
What they said about what is next.
Maintained revenue guidance of $63 million to $67 million for FY 2026; adjusted gross margin guidance to 85%-87%.
The filing reads better than the one before it.
What came before.
- 10-K · February 13, 2026
- CVRx is a commercial-stage medical device company commercializing Barostim, an FDA‑approved neuromodulation implant for HFrEF. In 2025 the company delivered revenue of $56.7 million (up from $51.3M in 2024) with strong…
- 10-Q · November 6, 2025
- CVRx reported Q3 2025 revenue of $14.69M, up from $13.37M in Q3 2024 (+$1.317M, ~9.9%), with strong gross margins (86.8%) and an improved GAAP loss per share of $(0.49) vs $(0.57) a year ago. Despite operational margin…
- 10-Q · August 5, 2025
- CVRx reported Q2 revenue of $13,589,000 (up from $11,807,000 in Q2 2024) with a strong gross margin (~84.3%) but continued deep operating losses. Operating expenses and net loss improved on a six-month basis versus…
- 10-Q · May 9, 2025
- CVRx reported Q1 revenue of $12.348M (up from $10.770M YoY) and narrowed its net loss to $13.766M (EPS -$0.53) versus a loss of $22.186M (EPS -$1.04) in Q1 2024. Gross profit was $10.312M (gross margin ~83.5%) while…
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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