CVRx Inc
NASDAQ:CVRX
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 Q3 revenue of $14.7 million, up 10% year-over-year, driven by US heart failure business expansion.
Gross Margin Upside: Gross margin improved to 87%, benefiting from both higher average selling prices and manufacturing efficiencies.
Guidance Update: 2025 revenue guidance was narrowed to $55.6–$56.6 million (raised midpoint), and gross margin guidance increased to 85–86%.
Sales Force Productivity: More sales reps are active and contributing than ever before, but management expects continued productivity improvement as new hires ramp up.
Reimbursement Progress: CMS finalized Barostim's transition to Category I CPT code for 2026 and extended favorable outpatient payment rates, improving patient access and payer support.
Clinical Expansion: An FDA submission for a large, pivotal RCT could potentially triple CVRx's addressable market if approved and supported by CMS.
Operating Leverage: Management highlighted improving operating leverage and a strong cash position of $85.1 million to support future growth.
