Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q3 2025 Earnings Presentation
27 slides from Cytosorbents's earnings presentation, Nov 13, 2025
Slide 1: CytoSorbents Corporation Q3 2025 Financial Results Conference Call
CytoSorbents Corporation Nasdaq: CTSO Q3 2025 Financial Results and Recent Business Highlights Conference Call November 13, 2025
Slide 2: Conference Call Participants
Conference Call Participants Phillip Chan, MD, PhD Peter J. Mariani, CPA Chief Executive Officer Chief Financial Officer Moderator: Adanna Alexander, PhD 2 VP Investor Relations, ICR Healthcare
Slide 3: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries CytoSorbents Medical, Inc and CytoSorbents Europe GmbH that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actu
Slide 4: Operational Update
Operational Update Dr. Phillip Chan, MD, PhD Chief Executive Officer 4
Slide 5: CytoSorbents at a Glance
CytoSorbents at a Glance • Platform blood purification technology for removing toxins and harmful substances from the blood • High margin “razorblade” that is “plug and play” into existing hospital blood pumps • Two main products leveraging the underlying polymer technology CytoSorb • Treatment of l
Slide 6: Five Key Strategic Initiatives
Five Key Strategic Initiatives 1) Return to higher growth in our core CytoSorb business 2) Obtain marketing approval and open the U.S. market for DrugSorb-ATR 3) Achieve near-term cash flow breakeven and future profitability 4) Continue to strengthen balance sheet 5) Increase and maximize shareholde
Slide 7: Return to Higher Growth of Core CytoSorb Business
Return to Higher Growth of Core CytoSorb Business 7
Slide 8: Core Business Performance Summary
Core Business Performance Summary • Q3 2025 Revenue was $9.5M, a 10% increase vs $8.6M a year ago, or 4% on a constant currency basis • Performance led by record sales in our distributor territories, and strong sales in our other direct markets • Although pleased with the structural progress in Germ
Slide 9: Growth Outside Germany is Strong: Fix Germany
Growth Outside Germany is Strong: Fix Germany $45.0 Annual Product Sales Trailing 12-month revenue (as of 9/30/25) was $40.0 $39.5M $40.1M $37.0M vs $33.8M in the comparable period a $37.0M $6.3 $9.4 $35.6M year ago $37.0 $35.0 $35.6 $33.8 $31.1M* $30.0 $29.4M* $31.1 $30.1 $29.1 • Distributor/Partne
Slide 10: Goals of Germany Restructuring
Goals of Germany Restructuring • In Germany, we have established a strong foundation of leading clinical centers and clinicians, device reimbursement, product awareness, and a sales team with an extensive network and experience in ICU and cardiac surgery sales • Our restructuring efforts in Germany
Slide 11: Continue to Leverage Clinical Data
Continue to Leverage Clinical Data 11 Voices around the world
Slide 12: Obtain marketing approval and open the U.S. market
Obtain marketing approval and open the U.S. market for 12
Slide 13: Blood Thinners Can Cause Serious Perioperative Bleeding
Blood Thinners Can Cause Serious Perioperative Bleeding DrugSorb-ATR can help • Acute heart attack patients commonly receive blood thinners like Brilinta® to improve clinical outcomes • But Brilinta® (ticagrelor) can cause serious and potentially life-threatening bleeding in patients that need to un
Slide 14: FDA Regulatory Timeline
FDA Regulatory Timeline • FDA Appeal Decision of the original De Novo submission (August 20, 2025) • Upheld the prior denial decision, and required additional information to support the Company’s desired label claim that would require a new De Novo submission • However, there were two important posi
Slide 15: Financial Highlights
Financial Highlights Peter J. Mariani Chief Financial Officer 15
Slide 16: Revenue and Gross Margin
Revenue and Gross Margin • Revenue led by record sales in distributor 3Q25 3Q24 YoY Change territories and strong sales in other direct markets. • Partially offset by lower revenue in German Revenue $9.5m $8.6m +10% where we are making progress with the Constant currency growth 4% reorganization of
Slide 17: Operating Results
Operating Results 3Q25 3Q24 YoY Change Total operating $9.5m $10.1m 6% improvement expenses Operating loss $2.9m $4.8m 41% improvement $3.2m $2.8m Net loss $0.05 / sh $0.05 / sh $2.6m $4.5m Adjusted loss $0.04 / sh $0.08 / sh Adjusted EBITDA loss $2.0m $3.6m *Non-GAAP measures including EBTIDA, Adju
Slide 18: Cash and Cash Burn
Cash and Cash Burn • $9.1 million in cash, cash equivalents and restricted cash* at September 30, 2025 • $2.6 million of operating cash burn in Q3 2025 *Includes non-current, restricted cash balance of $1.5 million 18
Slide 19: Achieve Near-term Cash Flow Breakeven and Future Profitability
Achieve Near-term Cash Flow Breakeven and Future Profitability 19
Slide 20: Achieving near-term cash flow breakeven and future profitability
Achieving near-term cash flow breakeven and future profitability • Achieve near-term profitability has continued to be a key priority • Pleased with progress, but believe the path must be accelerated • Workforce and cost reduction program • Workforce reduction of approximately 10% • Other reductions
Slide 21: Continue to Strengthen the Balance Sheet
Continue to Strengthen the Balance Sheet 21
Slide 22: Amended Credit Agreement Strengthens Balance Sheet & Extends Liquidity
Amended Credit Agreement Strengthens Balance Sheet & Extends Liquidity • Amended credit agreement provides: • $2.5 million will be drawn and funded in November • The interest only period is immediately extended to December 31, 2026 • An additional $2.5 million will be available, along with an additi
Slide 23: Set-up for 2026
Set-up for 2026 Structural improvements driving results: • Top line execution, and • ROI focus on spend and investments • Leading to improved operating efficiencies and margins • Cash blow breakeven beginning Q1 2026 • Amended Credit Agreement provides additional capital and extended IO, providing l
Slide 24: Increase and Maximize Shareholder Value
Increase and Maximize Shareholder Value 24
Slide 25: A Clear and Compelling Value Proposition
A Clear and Compelling Value Proposition We believe we have a sound plan to build and maximize shareholder value CytoSorb is an established, international core business in critical care and cardiac surgery with $37M in high margin product sales and an excellent “razorblade” business model with expec
Slide 26: In Memoriam
In Memoriam Dr. Robert Hawes Bartlett, MD 26 CytoSorbents Former Chief Medical Officer (2008-2017)
Slide 27: Q&A Session
Q&A Session NASDAQ: CTSO Company Contact: Dr. Phillip Chan pchan@cytosorbents.com Investor Relations Contact: Aman Patel, CFA & Adanna Alexander, PhD ICR Healthcare ir@cytosorbents.com 27