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CVRx Reports Second Quarter 2022 Financial and Operating Results
Second quarter 2022 revenue of $5.0 million, a 61% increase over prior year MINNEAPOLIS, July 28, 2022 (GLOBE NEWSWIRE) -- CVRx, Inc. (“CVRx”), a
About this update from Cvrx, Inc.
[{"type":"text","content":"Second quarter 2022 revenue of $5.0 million, a 61% increase over prior year\nMINNEAPOLIS, July 28, 2022 (GLOBE NEWSWIRE) -- CVRx, Inc. (“CVRx”), a commercial-stage medical device company focused on developing, manufacturing and commercializing innovative neuromodulation solutions for patients with cardiovascular diseases, today announced its financial and operating results for the second quarter of 2022. Recent Highlights Total revenue for the second quarter 2022 was $5.0 million, an increase of 61% over prior year quarterU.S. Heart Failure (HF) revenue for the second quarter of 2022 was $3.8 million, an increase of 90% over prior year quarterActive implanting centers in the U.S. grew to 71, an increase of 27% over the first quarter of 2022 “I am very pleased with what we were able to accomplish in the second quarter. The adoption of Barostim continues to accelerate as we execute on our strategy to expand our sales force and leverage marketing initiatives to increase awareness while at the same time working with existing customers to help more patients,” said Nadim Yared, President and Chief Executive Officer of CVRx. “We anticipate a strong second half of the year as we continue to generate momentum across the organization. We remain focused on prudently expanding our commercial organization and promoting awareness of Barostim among physicians, hospitals and patients as a novel treatment for individuals suffering from cardiovascular disease.” Second Quarter 2022 Financial and Operating Results Revenue was $5.0 million for the three months ended June 30, 2022, an increase of $1.9 million, or 61%, over the three months ended June 30, 2021. Revenue generated in the U.S. was $3.9 million for the three months ended June 30, 2022, an increase of $1.8 million, or 87%, over the three months ended June 30, 2021. Total HF revenue units in the U.S. totaled 128 and 67 for the three months ended June 30, 2022 and 2021, respectively. HF revenue in the U.S. totaled $3.8 million for the three months ended June 30, 2022, an increase of $1.8 million, or 90%, over the three months ended June 30, 2021. The increase was primarily driven by continued growth as a result of the expansion into new sales territories, new accounts and increased physician and patient awareness of Barostim. As of June 30, 2022, we had a total of 71 active implanting center...