CVRx | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 15.71 M

Revenue: As of FY2026 Q2, the actual value is USD 15.71 M, beating the estimate of USD 15.55 M.

EPS: As of FY2026 Q2, the actual value is USD -0.53, missing the estimate of USD -0.5238.

EBIT: As of FY2026 Q2, the actual value is USD -13.03 M.

Second Quarter 2026 Financial and Operating Results

Revenue

• Total revenue for the three months ended June 30, 2026, was $15.7 million, an increase of 16% compared to $13.589 million for the same period in 2025.
• U.S. revenue was $14.8 million for the three months ended June 30, 2026, an increase of 21% over $12.3 million for the same period in 2025.
• Revenue from Europe was $0.9 million for the three months ended June 30, 2026, a decrease of 31% compared to $1.3 million for the same period in 2025.

Operational Metrics

• Gross profit was $13.7 million for the three months ended June 30, 2026, an increase of 20% over $11.450 million for the same period in 2025.
• Gross margin was 87% for the three months ended June 30, 2026, up from 84% for the same period in 2025.
• Research and development (R&D) expenses increased by 27% to $3.1 million for the three months ended June 30, 2026, compared to $2.469 million for the same period in 2025.
• Selling, general and administrative (SG&A) expenses increased by 1% to $23.6 million for the three months ended June 30, 2026, compared to $23.357 million for the same period in 2025.
• Loss from operations was - $13.023 million for the three months ended June 30, 2026, compared to - $14.376 million for the same period in 2025.
• Interest expense was - $1.578 million for the three months ended June 30, 2026, compared to - $1.473 million for the same period in 2025.
• Other income, net, was $0.6 million for the three months ended June 30, 2026, compared to $1.1 million for the same period in 2025.
• Net loss was - $14.0 million for the three months ended June 30, 2026, compared to a net loss of - $14.7 million for the same period in 2025.

Cash Flow and Balance Sheet

• Cash and cash equivalents were $64.6 million as of June 30, 2026.
• Net cash used in operating and investing activities was - $8.9 million for the three months ended June 30, 2026, compared to - $8.0 million for the same period in 2025.
• Total assets were $92.283 million as of June 30, 2026, compared to $104.794 million as of December 31, 2025.
• Long-term debt was $58.571 million as of June 30, 2026, compared to $49.514 million as of December 31, 2025.

Unique Metrics

• U.S. revenue units totaled 466 for the three months ended June 30, 2026, compared to 391 for the same period in 2025.
• European revenue units decreased to 40 for the three months ended June 30, 2026, from 61 in the prior year period.
• Active implanting centers in the U.S. grew to 258 as of June 30, 2026, compared to 240 as of June 30, 2025.
• The number of sales territories in the U.S. was 56 as of June 30, 2026, compared to 47 as of June 30, 2025.
• The number of sales territories in Europe remained consistent at 5 as of June 30, 2026.
• Humana issued a Medicare Advantage coverage policy for Barostim therapy, effective May 1, 2026, which is the first of its kind for Barostim.

Business Outlook

CVRx, Inc. projects full year 2026 total revenue to be between $58.0 million and $60.0 million, with a gross margin ranging from 86% to 87%. Operating expenses are expected to be between $99.0 million and $101.0 million for the full year 2026. For the third quarter of 2026, the company anticipates total revenue between $13.5 million and $14.5 million.