Earnings summaries and quarterly performance for CVRx.
Executive leadership at CVRx.
Kevin Hykes
Detailed
President and Chief Executive Officer
CEO
BB
Brent Binkowski
Detailed
Chief Operating Officer
JO
Jared Oasheim
Detailed
Chief Financial Officer
PV
Paul Verrastro
Detailed
Chief Marketing and Strategy Officer
PA
Philip Adamson
Detailed
Chief Medical Officer
RJ
Robert John
Detailed
Chief Revenue Officer
Board of directors at CVRx.
Research analysts who have asked questions during CVRx earnings calls.
Chase Knickerbocker
Craig-Hallum Capital Group
8 questions for CVRX
Also covers: AVDL, BFLY, BVS +17 more
Frank Takkinen
Lake Street Capital Markets
7 questions for CVRX
Also covers: ANGO, AORT, AXGN +18 more
MK
Macauley Kilbane
William Blair & Company
5 questions for CVRX
Also covers: CBLL, GKOS, IRTC +4 more
RP
Rohin Patel
JPMorgan Chase & Co.
5 questions for CVRX
Also covers: HAE, INGN, NPCE
RO
Ross Osborn
Cantor Fitzgerald
4 questions for CVRX
Also covers: AXGN, CERS, ELUT +12 more
JY
John Young
Canaccord Genuity - Global Capital Markets
3 questions for CVRX
Also covers: ANGO, IRTC, LUNG +2 more
SM
Samantha Munoz
Piper Sandler Companies
3 questions for CVRX
Also covers: ATEC, PEN, TELA +1 more
A
Anna
Wolfe Research
2 questions for CVRX
Also covers: ABCL, ARVN, ATRC +4 more
LL
Lily Lozada
JPMorgan Chase & Co.
2 questions for CVRX
Also covers: ATRC, XRAY
MS
Max Smock
William Blair & Company
2 questions for CVRX
Also covers: CDMO, CERT, CRL +8 more
William Plovanic
Canaccord Genuity
2 questions for CVRX
Also covers: ATRC, CBLL, DXCM +9 more
BV
Brandon Vazquez
William Blair & Company, L.L.C.
1 question for CVRX
Also covers: ALGN, CBLL, DXCM +17 more
Nelson Cox
Lake Street Capital Markets
1 question for CVRX
Also covers: AORT, AQST, IRMD +6 more
S
Samantha
Piper Sandler & Co.
1 question for CVRX
Also covers: RCEL, SIBN
Recent press releases and 8-K filings for CVRX.
CVRx Reports Q4 and Full-Year 2025 Results, Issues 2026 Guidance, and Initiates Landmark Trial
CVRX
Earnings
Guidance Update
New Projects/Investments
- Q4 2025 revenue was $16 million, an increase of 4% year-over-year, contributing to full-year 2025 revenue of $56.7 million, up 10%. The company reported a net loss of $11.9 million or $0.46 per share for Q4 2025.
- For full-year 2026, CVRx provided guidance expecting total revenue between $63 million and $67 million, gross margin between 84% and 86%, and operating expenses between $103 million and $107 million.
- CVRx initiated the BENEFIT-HF trial, a landmark randomized controlled trial with enrollment expected to begin in Q2 2026, which could expand the addressable market to over 980,000 patients, representing a $30 billion opportunity.
- The company transitioned to Category I CPT codes on January 1, 2026, aiming to improve patient access and reimbursement predictability. Additionally, the sales organization expanded to 53 territories and 252 active implanting centers by year-end 2025 , and the debt facility was amended in January 2026 to provide access to an additional $50 million in capital.
Feb 12, 2026, 9:30 PM
CVRx Announces Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Highlights Strategic Milestones
CVRX
Earnings
Guidance Update
New Projects/Investments
- CVRx reported Q4 2025 revenue of $16 million and full year 2025 revenue of $56.7 million, representing 4% and 10% growth respectively, and provided full year 2026 revenue guidance of $63 million to $67 million.
- The company transitioned to Category I CPT codes on January 1, 2026, which is expected to improve patient access and reimbursement predictability for Barostim therapy.
- CVRx initiated the landmark BENEFIT-HF trial, a prospective randomized controlled trial set to begin enrollment in Q2 2026, with the potential to triple the addressable market to $30 billion if successful.
- As of December 31, 2025, cash and cash equivalents stood at $75.7 million, and a January 2026 debt amendment provided an additional $10 million and extended the loan maturity to 2031.
Feb 12, 2026, 9:30 PM
CVRx Announces Q4 and Full-Year 2025 Results and Provides 2026 Guidance
CVRX
Earnings
Guidance Update
New Projects/Investments
- CVRx reported Q4 2025 revenue of $16 million and full-year 2025 revenue of $56.7 million, representing growth of 4% and 10% respectively.
- The company posted a net loss of $11.9 million, or $0.46 per share, for Q4 2025, with cash and cash equivalents of $75.7 million as of December 31, 2025.
- For full-year 2026, CVRx expects total revenue between $63 million and $67 million, gross margin between 84% and 86%, and operating expenses between $103 million and $107 million.
- Key strategic developments include the transition to Category I CPT codes on January 1, 2026, which is expected to improve patient access and reimbursement predictability, and the initiation of the landmark BENEFIT-HF trial.
- CVRx also amended its debt facility in January 2026, extending the maturity date to 2031 and providing access to an additional $50 million in capital, with $10 million borrowed at closing.
Feb 12, 2026, 9:30 PM
CVRx Reports Fourth Quarter and Full Year 2025 Results and Provides 2026 Guidance
CVRX
Earnings
Guidance Update
New Projects/Investments
- CVRx reported total revenue of $16.0 million for the fourth quarter of 2025, a 4% increase over the prior year quarter, and $56.7 million for the full year 2025, representing a 10% increase over 2024.
- The company's gross margin improved to 86% for Q4 2025 and 85% for the full year 2025, compared to 83% and 84% in the respective prior year periods.
- CVRx announced a net loss of $11.9 million ($0.46 per share) for Q4 2025 and a net loss of $53.3 million ($2.04 per share) for the full year 2025.
- Key operational updates include the initiation of the BENEFIT-HF trial in January 2026, with first enrollments expected in Q2 2026, and the effectiveness of Category I CPT codes on January 1, 2026. Additionally, the company amended its term loan agreement in January 2026, increasing the facility by $50 million to an aggregate principal amount of up to $100 million.
- For the full year 2026, CVRx expects total revenue between $63.0 million and $67.0 million and a gross margin between 84% and 86%.
Feb 12, 2026, 9:21 PM
CVRx Announces Fourth Quarter and Full Year 2025 Financial and Operating Results
CVRX
Earnings
Guidance Update
New Projects/Investments
- CVRx reported total revenue of $16.0 million for the fourth quarter of 2025, representing a 4% increase over the prior year quarter, and $56.7 million for the full year 2025, a 10% increase over the prior year.
- The company's net loss for the fourth quarter of 2025 was $11.9 million, or $0.46 per share, and for the full year 2025, it was $53.3 million, or $2.04 per share.
- CVRx initiated the BENEFIT-HF trial in January 2026, with first enrollments expected in the second quarter of 2026, which could potentially triple its addressable market.
- For the full year 2026, CVRx expects total revenue between $63.0 million and $67.0 million, and a gross margin between 84% and 86%.
Feb 12, 2026, 9:05 PM
CVRx Announces Initiation of Landmark BENEFIT-HF Clinical Trial
CVRX
New Projects/Investments
- CVRx has initiated the BENEFIT-HF clinical trial to evaluate its Barostim device in a significantly expanded heart failure patient population.
- This landmark trial is designed to randomize 2,500 patients across approximately 150 centers in the United States and Germany, with enrollment expected to begin in the first half of 2026.
- If successful, the BENEFIT-HF trial could expand the indicated patient population for Barostim approximately three times, significantly broadening market access.
- The Centers for Medicare & Medicaid Services (CMS) has approved Category B IDE coverage for the trial, supporting patient access to therapy during the trial period.
Jan 22, 2026, 9:05 PM
CVRx Updates 2025 Financials and Provides 2026 Guidance, Announces Market Expansion Trial, and Amends Debt Facility
CVRX
Guidance Update
New Projects/Investments
Debt Issuance
- CVRx reported preliminary Q4 2025 worldwide revenue of $15.9-$16.1 million and FY 2025 worldwide revenue of $56.5-$56.7 million, representing an 11% growth rate. The company provided FY 2026 worldwide revenue guidance of $63-$67 million and Q1 2026 revenue guidance of $13.7-$14.7 million.
- The company implemented Category 1 CPT codes on January 1, 2026, which formalizes physician payment and removes the ability for payers to automatically deny prior authorizations for its Barostim therapy, with inpatient reimbursement at $45,000 and outpatient payment at $43,000.
- CVRx received FDA IDE approval for the BenefitHF trial, which aims to expand the Barostim indication and could triple the total addressable market from $10 billion to over $30 billion. Enrollment for this 2,500-patient trial is expected to begin later in 2026 and continue through 2030.
- The loan agreement with Innovatus was amended, extending the $50 million facility to $100 million with a new maturity date of 2031, and an additional $10 million was drawn on January 9th, 2026, increasing the cash balance to $86 million.
Jan 14, 2026, 11:45 PM
CVRx Reports 2025 Financial Results, Provides 2026 Guidance, and Details Strategic Initiatives
CVRX
Guidance Update
New Projects/Investments
Debt Issuance
- CVRx reported its preliminary financial results for Q4 2025 and full-year 2025, and provided guidance for full-year 2026 : | Metric | Q4 2025 | FY 2025 | FY 2026 (Guidance) | |---|---|---|---| | Worldwide Revenue ($USD Millions) | $15.9 - $16.1 | $56.5 - $56.7 | $63 - $67 | | Revenue Growth Rate (%) | N/A | 11% | N/A | | Gross Margin (%) | N/A | N/A | 84% - 86% | | Operating Expenses ($USD Millions) | N/A | N/A | $103 - $107 |
- The company's cash balance was $75.7 million at the end of 2025, which increased to $86 million in early January 2026 after drawing an additional $10 million from an amended $100 million debt facility with Innovatus, extending its maturity to 2031.
- CVRx received FDA IDE approval for the BENEFIT-HF trial, a landmark study designed to expand its market opportunity from $10 billion to over $30 billion. This trial, with an estimated net cost of $20 million to $30 million over five to seven years, is anticipated to begin enrollment later in 2026.
- The implementation of Category I CPT codes on January 1, 2026, is expected to significantly reduce reimbursement friction and improve physician confidence, supported by 30-day Medicare Advantage approval rates that finished 2025 at 46%, up from 31% in 2024.
Jan 14, 2026, 11:45 PM
CVRx Reports 2025 Financials and 2026 Outlook, Details Strategic Growth Initiatives
CVRX
Guidance Update
Debt Issuance
New Projects/Investments
- CVRx reported Q4 2025 worldwide revenue of $15.9-$16.1 million and full-year 2025 worldwide revenue of $56.5-$56.7 million, representing 11% growth. The company provided 2026 full-year revenue guidance of $63-$67 million and Q1 2026 revenue guidance of $13.7-$14.7 million.
- The company announced the implementation of Category 1 CPT codes on January 1, 2026, which is expected to significantly reduce reimbursement friction and formalize physician payment. 30-day Medicare Advantage approval rates for 2025 reached 46%, up from 31% in 2024.
- CVRx received FDA IDE approval for the BenefitHF trial, a landmark randomized controlled trial designed to expand its indication. If successful, this trial is projected to triple the total addressable market (TAM) from $10 billion to over $30 billion.
- The company's cash balance at the end of 2025 was $75.7 million, increasing to $86 million in early January 2026 after drawing an additional $10 million from an amended $100 million loan facility. Cash burn for 2025 was in the range of $35-$40 million, with expectations for a reduced burn in 2026.
Jan 14, 2026, 11:45 PM
CVRX provides preliminary 2025 results and 2026 guidance, highlights market opportunity and strategic progress
CVRX
Earnings
Guidance Update
New Projects/Investments
- CVRX reported preliminary worldwide revenue of $56.5-$56.7 million for full year 2025 and provided 2026 revenue guidance between $63.0 million and $67.0 million.
- The company expects gross margin for FY 2025 to be 85%-86% and for FY 2026 to be between 84% and 86%.
- CVRX estimates a $10.5 billion prevalence-based market opportunity for Barostim in the U.S. HFrEF market, with potential expansion to approximately 983,000 patients if the BENEFIT-HF randomized controlled trial is successful.
- Patient access has improved with the activation of new Category I codes as of January 1st, eliminating automatic Category III denials and establishing consistent surgeon payment.
- The company received IDE approval for BENEFIT-HF, a landmark randomized controlled trial for heart failure, with enrollment expected from 1H 2026 to 2030, potentially expanding the market opportunity.
Jan 14, 2026, 11:45 PM
Quarterly earnings call transcripts for CVRx.
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