Business
CVRx Reports Preliminary Fourth Quarter and Fiscal Year 2024 Financial Results and Issues Fiscal 2025 Guidance
Fourth quarter revenue expected to be $15.2 million to $15.3 million, representing growth of 35%Full year revenue expected to be $51.1 million to $51.2
About this update from Cvrx, Inc.
[{"type":"text","content":"Fourth quarter revenue expected to be $15.2 million to $15.3 million, representing growth of 35%Full year revenue expected to be $51.1 million to $51.2 million, representing growth of 30%Fiscal 2025 revenue expected to be between $63.0 million and $65.0 million, representing growth of 23% to 27% MINNEAPOLIS, Jan. 13, 2025 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) (\"CVRx\"), a commercial-stage medical device company, today announced certain preliminary unaudited fourth quarter and full year 2024 revenue results and provided its 2025 business outlook. \"We ended 2024 with a strong fourth quarter, highlighted by 41% growth in U.S. heart failure revenue, as we continued to see the benefits of the successful execution of our commercial strategy as well as our focus on increasing education and awareness, expanding our clinical evidence base, and improving patient access,” said Kevin Hykes, President and Chief Executive Officer of CVRx. “Beyond the strength of our revenue performance, we continue to deliver increasing operating leverage as a result of our prudent capital deployment strategy.” “We are inspired by the exciting prospects of 2025. Having successfully navigated a number of critical reimbursement milestones during 2024, in combination with the positive utilization and adoption momentum we built throughout the year, we believe we are very well positioned to continue to drive strong, sustainable, cost-efficient topline growth in the coming year as Barostim advances toward the standard of care for patients suffering from the debilitating symptoms of heart failure.” Fourth Quarter 2024 Total revenue for the fourth quarter of 2024 is expected to be in the range of approximately $15.2 million to $15.3 million, representing an increase of approximately 35% over fourth quarter 2023 revenue of $11.3 million. Total revenue generated in the fourth quarter of 2024 is expected to be comprised of approximately $14.2 million to $14.3 million in U.S. revenue and $1.0 million in European revenue. Full Year 2024 Total revenue for full year 2024 is expected to be in the range of approximately $51.1 million to $51.2 million, representing an increase of approximately 30% over full year 2023 revenue of $39.3 million. Total revenue generated in 2024 is expected to be comprised of approximately $47.0 million to $47.1 million in U.S. revenue an...