CVRx(US:CVRX) Globenewswire·2025-11-05 21:05Core Insights - CVRx, Inc. reported a solid performance in Q3 2025, with a revenue increase of 10% year-over-year, reaching $14.7 million, driven by growth in the U.S. heart failure business and improved commercial strategies [4][10]. Financial Performance - Total revenue for Q3 2025 was $14.7 million, an increase of $1.3 million, or 10%, compared to Q3 2024 [4][10]. - U.S. revenue was $13.5 million, also reflecting a 10% increase from the previous year, with 420 revenue units sold compared to 394 in Q3 2024 [5][10]. - European revenue reached $1.2 million, a 12% increase from the prior year, although total revenue units decreased from 56 to 50 [7][10]. - Gross profit for Q3 2025 was $12.8 million, up 15% from $11.1 million in Q3 2024, with a gross margin improvement to 87% from 83% [8][10]. - R&D expenses rose by 26% to $3.1 million, driven by increased compensation and consulting costs [9][10]. - SG&A expenses increased slightly by 1% to $21.9 million, influenced by higher consulting and travel expenses [10][11]. - 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 [13][10]. Operational Highlights - The number of active implanting centers in the U.S. grew to 250, a 20% increase since September 2024, with the number of sales territories increasing to 50 [6][10]. - The company received favorable updates from CMS regarding the transition to Category I CPT codes, which is expected to enhance patient access and adoption of their products [3][10]. Business Outlook - For the full year of 2025, CVRx expects total revenue between $55.6 million and $56.6 million, with a gross margin between 85% and 86% [15][19]. - The company anticipates Q4 2025 revenue to be between $15.0 million and $16.0 million [15].