CVRx Inc
NASDAQ:CVRX
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CVRx Inc
CVRx, Inc. develops proprietary active implantable technology to treat high blood pressure and heart failure. The company is headquartered in Minneapolis, Minnesota and currently employs 109 full-time employees. The company went IPO on 2021-06-30. The firm is focused on developing, manufacturing and commercializing minimally invasive neuromodulation solutions for patients with cardiovascular diseases. Its platform technology offers BAROSTIM, designed to control the brain to address the imbalance of the autonomic nervous system (ANS), which causes heart failure (HF) and other cardiovascular diseases. The Company’s product, BAROSTIM NEO, is a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction (HFrEF). BAROSTIM NEO provides baroreflex activation therapy (BAT) by sending imperceptible and persistent electrical pulses to baroreceptors located in the wall of the carotid artery to signal the brain to modulate cardiovascular function. BAROSTIM NEO consists of two implantable components, an implantable pulse generator (IPG) and a stimulation lead.
CVRx, Inc. develops proprietary active implantable technology to treat high blood pressure and heart failure. The company is headquartered in Minneapolis, Minnesota and currently employs 109 full-time employees. The company went IPO on 2021-06-30. The firm is focused on developing, manufacturing and commercializing minimally invasive neuromodulation solutions for patients with cardiovascular diseases. Its platform technology offers BAROSTIM, designed to control the brain to address the imbalance of the autonomic nervous system (ANS), which causes heart failure (HF) and other cardiovascular diseases. The Company’s product, BAROSTIM NEO, is a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction (HFrEF). BAROSTIM NEO provides baroreflex activation therapy (BAT) by sending imperceptible and persistent electrical pulses to baroreceptors located in the wall of the carotid artery to signal the brain to modulate cardiovascular function. BAROSTIM NEO consists of two implantable components, an implantable pulse generator (IPG) and a stimulation lead.
Revenue Growth: CVRx reported Q4 revenue of $16 million, up 4% year-over-year, and full-year revenue of $56.7 million, up 10%.
Gross Margin: Gross margin improved to 86% in Q4 from 83% a year ago, helped by higher average selling prices and improved manufacturing efficiency.
Guidance: 2026 revenue is guided between $63 million and $67 million, with gross margin expected between 84% and 86%.
Sales Force Investment: The company expanded to 53 sales territories and 252 active implanting centers, focusing on deeper adoption in select centers.
Reimbursement Milestone: Category 1 CPT codes took effect January 1, 2026, expected to improve patient access and prior authorization approvals.
BENEFIT-HF Trial: Enrollment for the landmark BENEFIT-HF trial starts in Q2 2026, aiming to triple the addressable market if successful.
Cash Position: Ended 2025 with $75.7 million cash, bolstered to $86 million after a $10 million debt facility draw in January 2026.