CVRx(US:CVRX)2025-11-05 21:17Revenue Performance - Total revenue for Q3 2025 was $14.7 million, an increase of $1.3 million, or 10%, compared to Q3 2024[5] - U.S. revenue for Q3 2025 was $13.5 million, reflecting a 10% increase from the prior year, with 420 revenue units sold[6] - Revenue for the three months ended September 30, 2025, was $14,690 million, an increase from $13,373 million in the same period of 2024, representing a growth of 9.8%[26] - The company updated its full-year 2025 revenue guidance to between $55.6 million and $56.6 million[19] - For Q4 2025, the company expects total revenue between $15.0 million and $16.0 million[16] Profitability - Gross profit for Q3 2025 was $12.8 million, a 15% increase year-over-year, with a gross margin of 87%[10] - Gross profit for the nine months ended September 30, 2025, was $34,515 million, compared to $30,187 million for the same period in 2024, reflecting an increase of 14.4%[26] - The net loss for Q3 2025 was $12.9 million, or $0.49 per share, compared to a net loss of $13.1 million, or $0.57 per share, in Q3 2024[14] - The net loss for the three months ended September 30, 2025, was $12,870 million, slightly improved from a net loss of $13,099 million in the same period of 2024[26] - Net loss per share, basic and diluted, for the three months ended September 30, 2025, was $0.49, compared to $0.57 for the same period in 2024[26] Expenses - R&D expenses increased by $0.6 million, or 26%, to $3.1 million in Q3 2025[11] - Research and development expenses for the three months ended September 30, 2025, were $3,146 million, an increase from $2,504 million in 2024, marking a growth of 25.7%[26] - SG&A expenses rose by $0.2 million, or 1%, to $21.9 million in Q3 2025[12] - Selling, general and administrative expenses for the nine months ended September 30, 2025, totaled $66,464 million, down from $71,077 million in 2024, a decrease of 6.5%[26] - Total operating expenses for the three months ended September 30, 2025, were $25,021 million, up from $24,136 million in 2024, indicating a rise of 3.7%[26] Cash and Financial Position - Cash and cash equivalents as of September 30, 2025, were $85.1 million, with net cash used in operating and investing activities at $10.0 million[15] Other Financial Metrics - Interest expense for the three months ended September 30, 2025, was $1,480 million, compared to $958 million in the same period of 2024, representing an increase of 54.5%[26] - Other income for the nine months ended September 30, 2025, was $3,108 million, up from $2,905 million in 2024, reflecting a growth of 7%[26] - Active implanting centers in the U.S. grew to 250, a 20% increase since September 30, 2024[8] - The cumulative translation adjustment for the three months ended September 30, 2025, was $(1) million, compared to $2 million in the same period of 2024[26]