NASDAQ$CVRX
CVRx Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
CVRx's Q3 2023 performance was marked by significant revenue growth, particularly in the U.S. heart failure business, driven by commercial expansion and marketing efforts, while also focusing on reducing cash burn.
CVRx reported a strong third quarter in 2023, with revenue increasing by 70% to $10.5 million, driven primarily by a 90% increase in U.S. revenue. The company is focused on maintaining positive momentum and reducing quarterly cash burn. Active implanting centers increased to 159, and gross margin improved to 84%.
- Total revenue increased by 70% to $10.5 million compared to Q3 2022.
- U.S. revenue increased by 90% to $9.6 million compared to Q3 2022, driven by heart failure business growth.
- Gross profit increased by 82% to $8.8 million, with gross margin improving to 84%.
- Net loss decreased to $9.0 million, or $0.43 per share, compared to a net loss of $9.8 million, or $0.48 per share, in Q3 2022.
Headline financials
Revenue & EPS history
CVRx · Revenue · Quarterly
$10.5M
Forward guidance
The Company expects total revenue between $10.5 million and $11.0 million for the fourth quarter of 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2023
-0.9%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-1.6%
Avg return
30 days after
48%
10 / 21 earnings
Positive
+36.7%
Q3 2024
Best reaction
-39.0%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.7% | -13.3% | -29.2% | |
| Q4 2025 | -13.0% | -14.8% | +32.3% | |
| Q3 2025 | +0.8% | -3.4% | -8.5% | |
| Q1 2025 | -39.0% | -32.0% | -15.7% | |
| Q4 2024 | -7.2% | -8.4% | -28.8% | |
| Q3 2024 | +36.7% | +30.2% | +48.8% | |
| Q2 2024 | -17.5% | -14.4% | +3.3% | |
| Q1 2024 | -33.8% | -39.7% | -55.0% | |
| Q4 2023 | -1.4% | -6.1% | -19.6% | |
| Q3 2023 | -1.2% | +0.5% | +50.4% | |
| Q2 2023 | +6.2% | +5.7% | +2.3% | |
| Q1 2023 | +24.0% | +34.2% | +41.1% | |
| Q4 2022 | +3.1% | +5.9% | -24.2% | |
| Q3 2022 | +2.7% | +21.4% | +43.1% | |
| Q2 2022 | +22.1% | +24.6% | +4.6% | |
| Q1 2021 | -3.4% | -12.0% | -6.3% | |
| Q1 2022 | +12.6% | +28.5% | +14.0% | |
| Q4 2021 | +0.9% | +0.0% | -21.2% | |
| Q3 2021 | +4.8% | +4.1% | -36.5% | |
| Q2 2020 | -4.7% | -13.0% | -13.0% | |
| Q2 2021 | -5.6% | -7.5% | -15.8% | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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