CVRx (CVRX) Q2 Revenue Jumps 15%

Core Insights - CVRx reported Q2 2025 earnings with revenue of $13.6 million, a 15% increase year-over-year, surpassing analyst expectations of $13.29 million [1][5] - The company experienced a net loss of $14.7 million, or $(0.57) per share, which widened slightly compared to the previous year but improved on a per-share basis due to an increased share count [1][2] - Management narrowed its revenue guidance for fiscal 2025 to a range of $55.0 million to $57.0 million, indicating increased confidence in commercial results [1][12] Financial Performance - Revenue (GAAP) for Q2 2025 was $13.6 million, up from $11.8 million in Q2 2024, reflecting a 15.1% year-over-year change [2] - Gross profit reached $11.5 million with a gross margin of 84%, consistent with the previous year [2][7] - U.S. heart failure revenue was the largest contributor at $12.1 million, with unit sales increasing from 339 to 387 [5][6] Product and Market Development - Barostim, the company's leading product, is designed for heart failure treatment and has shown strong commercial progress despite heavy investments in sales and marketing [1][4] - The number of active implanting centers in the U.S. grew to 240, with 13 new centers added during the quarter [6] - European revenue increased by 19% to $1.3 million, although the number of implant units declined slightly, indicating variability in adoption [5][6] Clinical and Regulatory Updates - Real-world data presented at cardiology conferences showed significant reductions in heart failure hospital visits post-Barostim implantation, with reductions of 85% for heart failure and 86% for all causes [10] - The Centers for Medicare & Medicaid Services (CMS) proposed to retain Barostim as a covered outpatient procedure at a payment level of $45,000, providing stability for future revenue [8][9] Future Outlook - For the next quarter, revenue is expected to be in the range of $13.7 million to $14.7 million, suggesting continued double-digit growth [12] - Areas to monitor include the addition of new implanting centers, the effectiveness of the sales force, and the progress of a planned large randomized controlled trial (RCT) [13]