Business
CytoSorbents Reports First Quarter 2026 Financial Results, Recent Business Highlights, and Regulatory Update
PRINCETON, N.J., May 13, 2026 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the
About this update from Cytosorbents Corporation
[{"type":"text","content":"PRINCETON, N.J., May 13, 2026 /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, today reported financial results for the first quarter ended March 31, 2026, recent business highlights, and provides a regulatory update. \n \n \n \n \n \n \n \nFirst Quarter 2026 Financial ResultsRevenue was $8.9 million, an increase of 2% over the prior year, from $8.7 millionGross margin was 69% in the quarter compared to 71% in Q1 2025Operating loss was $3.0 million, compared to $3.9 million in Q1 2025 Net loss was $5.1 million or $0.08 per share, compared to a net loss of $1.5 million or $0.02 per share in Q1 2025. The increase was due primarily to the non-cash impact of changes in foreign currency transactions year-over-year Adjusted net loss, which excludes the impact of non-cash changes in foreign currency transactions and non-cash stock compensation, was $3.4 million or $0.05 per share, compared to an adjusted net loss of $3.7 million or $0.06 per share in Q1 2025Adjusted EBITDA loss, which also excludes the impact of non-cash changes in foreign currency transactions and non-cash stock compensation was $2.2 million compared to a loss of $2.7 million in Q1 2025Total cash, cash equivalents, and restricted cash was approximately $6.4 million, compared to $7.8 million as of December 31, 2025 Total cash burn in the quarter, excluding $0.3 million in restructuring-related payments, was approximately $1.1 million \"First quarter sales were $8.9 million, driven by 13% growth in our direct sales territories outside of Germany,\" stated Dr. Phillip Chan, Chief Executive Officer of CytoSorbents Corporation. \"Our Germany sales team also performed well, achieving sales slightly below last year, but with a smaller and more focused team – reflecting new leadership, sales execution, account targeting, productivity, and customer engagement. Given the importance of the German market, we plan to selectively expand our commercial team to improve account coverage and drive growth opportunities in both critical care and cardiac surgery.Distributor sales were flat year-over-year, as progress across several territories was offset by delayed distributor orders of approximately $500,000 in parts of the Middle East and neighboring ...