Business
CVRx Reports Second Quarter 2023 Financial and Operating Results
MINNEAPOLIS, July 25, 2023 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) (“CVRx”), a commercial-stage medical device company focused on developing,
About this update from Cvrx, Inc.
[{"type":"text","content":"MINNEAPOLIS, July 25, 2023 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) (“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 2023. Recent Highlights Total revenue for the second quarter of 2023 was $9.5 million, an increase of 89% over prior year quarterU.S. Heart Failure (HF) revenue for the second quarter of 2023 was $8.3 million compared to $3.8 in the prior year quarter, an increase of 119% over the prior year quarterActive implanting centers in the U.S. grew to 140, an increase of 97% since June 30, 2022A PMA supplement was filed with the FDA for Barostim indication expansion in June 2023, in line with BeAT-HF executive steering committee's recommendation \"We are pleased to report another impressive quarter. Our success continues to be driven by our U.S. heart failure business, which saw revenue growth of nearly 120% compared to the prior year quarter. We are proud of our performance, which reflects the continued execution of our commercial strategy and the demand for Barostim in the market,” said Nadim Yared, President and Chief Executive Officer of CVRx. “As we move forward, we remain determined to sustain this positive momentum throughout the year. We extend our gratitude to our exceptional team for their relentless dedication to our mission of giving each patient a fuller life.” Second Quarter 2023 Financial and Operating Results Revenue was $9.5 million for the three months ended June 30, 2023, an increase of $4.5 million, or 89%, over the three months ended June 30, 2022. Revenue generated in the U.S. was $8.3 million for the three months ended June 30, 2023, an increase of $4.4 million, or 111%, over the three months ended June 30, 2022. HF revenue units in the U.S. totaled 265 and 128 for the three months ended June 30, 2023 and 2022, respectively. HF revenue in the U.S. totaled $8.3 million and $3.8 million for the three months ended June 30, 2023 and 2022, respectively. The increases were primarily driven by continued growth in the U.S. HF business as a result of the expansion into new sales territories, new accounts and increased physician and patient awareness of Barostim. As of June 30, 2023, the Co...