Business
CytoSorbents Reports Second Quarter 2025 Financial Results and Provides Business Update
PRINCETON, N.J., Aug. 7, 2025 /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., Aug. 7, 2025 /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 second quarter ended June 30, 2025, and recent business highlights. \n\n \n \n \n \n \n \n\n \nSecond Quarter 2025 Financial Results\nRevenue was $9.6 million, an increase of 9%, or 4% on a constant currency basis, compared to $8.8 million in Q2 2024, driven by 22% year-over-year and sequential sales growth in Germany.Gross margin was 70.9% compared to 73.5% in Q2 2024.Operating loss was $3.6 million, flat compared to Q2 2024.Net income was $1.9 million or $0.03 per basic and diluted share, compared to a net loss of $4.3 million or $0.08 per basic and diluted share in Q2 2024.Adjusted net loss was $3.7 million or $0.06 per basic and $0.05 per diluted share, compared to an adjusted net loss of $2.8 million, or $0.05 per basic and diluted share in Q2 2024.Adjusted EBITDA loss was $2.6 million compared to a loss of $2.2 million in Q2 2024.Total cash, cash equivalents, and restricted cash of $11.7 million at June 30, 2025, compared to $13.1 million as of March 31, 2025, which includes $1.7 million of proceeds received from the sale of its 2023 and amended 2022 Net Operating Loss and R&D tax credits from the Technology Business Tax Certificate Transfer Program, sponsored by the New Jersey Economic Development Authority (NJEDA).\"Our performance in the second quarter was led by strong 22% year-over-year and sequential sales growth in Germany and continued strength in our other direct sales territories. Distributor sales were among our best ever, second only to a record quarter for distributor sales in the prior year,\" stated Dr. Phillip Chan, Chief Executive Officer of CytoSorbents. \"We initiated a proactive reorganization of our German commercial team and sales approach in the first quarter following two years of flat growth in this important market which caused a temporary sales disruption in the first quarter. With the second quarter behind us, we are pleased with our initial progress of our Germany reorganization and remain confident it will lead to stronger execution, improved performance, and more robust sales growth in our overall business this year and beyond. Meanwhile, ...