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CytoSorbents Issues Stockholder Letter and Reports Preliminary Fourth Quarter and Full Year 2021 Revenue
Preliminary Full Year 2021 Product Sales were approximately $40.1 million, including core non-COVID-19 sales growth of approximately 13% from 2020. Cumulative
About this update from Cytosorbents Corporation
[{"type":"text","content":"Preliminary Full Year 2021 Product Sales were approximately $40.1 million, including core non-COVID-19 sales growth of approximately 13% from 2020. Cumulative CytoSorb treatments surpassed 162,000.\n\n\nMONMOUTH JUNCTION, N.J., Jan. 18, 2022 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, issues a stockholder letter from its Chief Executive Officer, Dr. Phillip Chan, and announces preliminary unaudited fourth quarter 2021 and full year 2021 results ahead of filing its Form 10-K. \n\n \n \n \n \n \n \n\n \nPreliminary Unaudited Full Year 2021 Results\nCumulative CytoSorb treatments delivered exceeded 162,000, up 34% from approximately 121,000 at the end of 2020 Preliminary 2021 unaudited Total Revenue, which includes product sales and grant revenue, was approximately $43.2 million versus $41.0 million in 2020 Preliminary 2021 unaudited Product Sales were approximately $40.1 million compared to $39.5 million in 2020 Core (non-COVID-19) product revenue in 2021 was approximately $33.8 million, an approximate 13% increase from $30.1 million in 2020, and accounting for approximately 84% of product sales Blended product gross margins, including higher margin direct and lower margin distributor and partner sales, are expected to be at least 80% for 2021, compared to 76% in 2020 Strong cash balance at the end of 2021 of approximately $54 millionPreliminary Unaudited Q4 2021 Results\nQ4 2021 Total Revenue was approximately $10.8 million versus $12.0 million in Q4 2020 Q4 2021 Product Sales of approximately $9.7 million were ahead of our prior guidance, and rose 9% sequentially from Q3 2021, versus approximately $11.5 million in Q4 2020 Core (non-COVID-19) product sales in Q4 2021 were approximately $8.0 million, or 82% of product sales versus approximately $8.9 million, or 77% of product sales in Q4 2020 Direct sales from Germany in Q4 2021 increased 45% to $5.3 million compared to $3.7 million in Q3 2021, versus approximately $6.0 million in Q4 2020 Preliminary blended product gross margins are expected to be approximately 80% for Q4 2021, mixing higher margin direct and lower margin distributor and partner salesCytoSorbents Issues Shareholder Letter from CEO and Reports Preliminary Fourth Quarter and...