7Baggers

CVRx Inc
(NASDAQ:CVRX) 

CVRX stock logo

Founded: 2000
CEO: Nadim Yared  
Sector:
Industry:
Cardiovascular
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• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
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• Return on Equity (ROE) ttm:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 
                       
      revenue
    		16,024,000 14,690,000 13,589,000 12,348,000 15,342,000 13,373,000 11,807,000 10,770,000 11,305,000 10,511,000 9,500,000 7,979,000 7,176,000 6,186,000 5,031,000 4,076,000 3,658,000 3,395,000 3,123,000 
      yoy
    		4.45% 9.85% 15.09% 14.65% 35.71% 27.23% 24.28% 34.98% 57.54% 69.92% 88.83% 95.76% 96.17% 82.21% 61.10%     
      qoq
    		9.08% 8.10% 10.05% -19.52% 14.72% 13.26% 9.63% -4.73% 7.55% 10.64% 19.06% 11.19% 16.00% 22.96% 23.43% 11.43% 7.75% 8.71%  
      cost of goods sold
    		2,199,000 1,937,000 2,139,000 2,036,000 2,571,000 2,248,000 1,900,000 1,615,000 1,720,000 1,691,000 1,517,000 1,328,000 1,509,000 1,340,000 1,201,000 949,000 984,000 876,000 913,000 
      gross profit
    		13,825,000 12,753,000 11,450,000 10,312,000 12,771,000 11,125,000 9,907,000 9,155,000 9,585,000 8,820,000 7,983,000 6,651,000 5,667,000 4,846,000 3,830,000 3,127,000 2,674,000 2,519,000 2,210,000 
      yoy
    		8.25% 14.63% 15.57% 12.64% 33.24% 26.13% 24.10% 37.65% 69.14% 82.01% 108.43% 112.70% 111.93% 92.38% 73.30%     
      qoq
    		8.41% 11.38% 11.04% -19.25% 14.80% 12.29% 8.21% -4.49% 8.67% 10.48% 20.03% 17.36% 16.94% 26.53% 22.48% 16.94% 6.15% 13.98%  
      gross margin %
    		86.28% 86.81% 84.26% 83.51% 83.24% 83.19% 83.91% 85.00% 84.79% 83.91% 84.03% 83.36% 78.97% 78.34% 76.13% 76.72% 73.10% 74.20% 70.77% 
      operating expenses:
    		                   
      research and development
    		3,000,000 3,146,000 2,469,000 2,517,000 2,805,000 2,504,000 2,765,000 3,057,000 2,241,000 2,696,000 3,280,000 3,416,000 3,046,000 2,293,000 2,355,000 2,258,000 1,797,000 1,699,000 2,255,000 
      selling, general and administrative
    		22,009,000 21,875,000 23,357,000 21,232,000 20,240,000 21,632,000 21,115,000 28,330,000 17,005,000 15,652,000 16,455,000 15,397,000 14,100,000 12,679,000 12,489,000 10,777,000 9,665,000 8,111,000 5,627,000 
      total operating expenses
    		25,009,000 25,021,000 25,826,000 23,749,000 23,045,000 24,136,000 23,880,000 31,387,000 19,246,000 18,348,000 19,735,000 18,813,000 17,146,000 14,972,000 14,844,000 13,035,000 11,462,000 9,810,000 7,882,000 
      income from operations
    		-11,184,000 -12,268,000 -14,376,000 -13,437,000 -10,274,000 -13,011,000 -13,973,000 -22,232,000 -9,661,000 -9,528,000 -11,752,000 -12,162,000 -11,479,000 -10,126,000 -11,014,000 -9,908,000 -8,788,000 -7,291,000 -5,672,000 
      yoy
    		8.86% -5.71% 2.88% -39.56% 6.35% 36.56% 18.90% 82.80% -15.84% -5.91% 6.70% 22.75% 30.62% 38.88% 94.18%     
      qoq
    		-8.84% -14.66% 6.99% 30.79% -21.04% -6.88% -37.15% 130.12% 1.40% -18.92% -3.37% 5.95% 13.36% -8.06% 11.16% 12.74% 20.53% 28.54%  
      operating margin %
    		-69.80% -83.51% -105.79% -108.82% -66.97% -97.29% -118.35% -206.43% -85.46% -90.65% -123.71% -152.43% -159.96% -163.69% -218.92% -243.08% -240.24% -214.76% -181.62% 
      interest expense
    		-1,417,000 -1,480,000 -1,473,000 -1,457,000 -1,520,000 -958,000 -959,000 -960,000 -579,000 -499,000 -481,000 -240,000     -396,000 -614,000 -608,000 
      other income
    		660,000 875,000 1,110,000 1,123,000 1,072,000 917,000 944,000 1,044,000 1,116,000 1,056,000 616,000 1,062,000 1,136,000 328,000   -3,359,750 1,795,000 -11,442,000 
      income before income taxes
    		-11,941,000 -12,873,000 -14,739,000 -13,771,000 -10,722,000 -13,052,000 -13,988,000 -22,148,000 -9,124,000 -8,971,000 -11,617,000 -11,340,000 -10,508,000 -9,798,000 -11,048,000 -9,965,000 -10,545,000 -6,110,000 -17,722,000 
      benefit for income taxes
    		7,000 3,000 3,000 5,000                
      net income
    		-11,934,000 -12,870,000 -14,736,000 -13,766,000 -10,651,000 -13,099,000 -14,029,000 -22,186,000 -9,163,000 -9,011,000 -11,651,000 -11,374,000 -10,536,000 -9,830,000 -11,071,000 -9,991,000 -10,570,000 -6,133,000 -17,748,000 
      yoy
    		12.05% -1.75% 5.04% -37.95% 16.24% 45.37% 20.41% 95.06% -13.03% -8.33% 5.24% 13.84% -0.32% 60.28% -37.62%     
      qoq
    		-7.27% -12.66% 7.05% 29.25% -18.69% -6.63% -36.77% 142.13% 1.69% -22.66% 2.44% 7.95% 7.18% -11.21% 10.81% -5.48% 72.35% -65.44%  
      net income margin %
    		-74.48% -87.61% -108.44% -111.48% -69.42% -97.95% -118.82% -206.00% -81.05% -85.73% -122.64% -142.55% -146.82% -158.91% -220.06% -245.12% -288.96% -180.65% -568.30% 
      cumulative translation adjustment
    		 -1,000 3,000  2,000 2,000  -3,000 -250 -21,000 17,000 3,000 12,000 -8,000 -7,000 -6,000  -3,000 -1,000 
      comprehensive loss
    		-11,934,000 -12,871,000 -14,733,000 -13,766,000 -10,649,000 -13,097,000 -14,029,000 -22,189,000 -9,162,000 -9,032,000 -11,634,000 -11,371,000 -10,524,000 -9,838,000 -11,078,000 -9,997,000 -10,570,000 -6,136,000 -17,749,000 
      net income per share
    		-0.45 -0.49 -0.57 -0.53 -0.4 -0.57 -0.65 -1.04 -0.44 -0.43 -0.56 -0.55 -0.51 -0.48 -0.54 -0.49 0.5 -0.3 -48.48 
      weighted-average common shares used to compute net loss per share, basic and diluted
    		26,084,709 26,168,562 26,071,316 25,876,062 22,596,229 22,783,337 21,628,542 21,232,009 20,754,375 20,801,350 20,711,850 20,693,224 20,532,838 20,576,838 20,505,228 20,453,341 10,360,054 20,126,672 366,066 
      provision for income taxes
    		    71,000 -47,000 -41,000 -38,000 -39,000 -40,000 -34,000 -34,000 -28,000 -32,000 -23,000 -26,000 -25,000 -23,000 -26,000 
      other expense
    		              -34,000 -57,000    
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 
                         
        assets
      		                   
        current assets:
      		                   
        cash and cash equivalents
      		75,708,000 85,124,000 95,025,000 102,668,000 105,933,000 100,161,000 70,400,000 80,115,000 90,569,000 82,993,000 90,815,000 103,276,000 106,194,000 109,985,000 121,346,000 131,177,000 142,072,000 170,913,000 47,128,000 
        accounts receivable
      		10,665,000 8,209,000 7,153,000 9,012,000 9,268,000 9,033,000 8,606,000 8,495,000 7,551,000 6,372,000 6,726,000 6,434,000 5,504,000 5,297,000 3,601,000 3,673,000 2,560,000 3,421,000 2,243,000 
        inventory
      		12,205,000 11,394,000 11,720,000 11,672,000 12,107,000 11,892,000 11,224,000 11,056,000 10,983,000 10,887,000 10,928,000 8,241,000 6,957,000 6,064,000 5,834,000 5,261,000 3,880,000 3,440,000 3,161,000 
        prepaid expenses and other current assets
      		3,069,000 3,163,000 2,247,000 2,782,000 2,505,000 2,786,000 1,762,000 2,656,000 2,987,000 3,345,000 3,543,000 2,631,000 4,223,000 3,066,000 1,155,000 2,090,000 2,585,000 2,923,000 1,684,000 
        total current assets
      		101,647,000 107,890,000 116,145,000 126,134,000 129,813,000 123,872,000 91,992,000 102,322,000 112,090,000 103,597,000 112,012,000 120,582,000 122,878,000 124,412,000 131,936,000 142,201,000 151,097,000 180,697,000 54,216,000 
        property and equipment
      		2,243,000 2,446,000 2,345,000 2,435,000 2,505,000 2,631,000 2,763,000 2,549,000 1,763,000 1,723,000 1,821,000 1,805,000 1,698,000 1,747,000 1,610,000 1,656,000 1,425,000 943,000 820,000 
        operating lease right-of-use asset
      		878,000 963,000 1,048,000 994,000 1,069,000 1,144,000 1,200,000 1,274,000 1,349,000 1,058,000 1,113,000 277,000 334,000 391,000 465,000 522,000    
        other non-current assets
      		26,000 26,000 26,000 26,000 27,000 26,000 26,000 26,000 27,000 26,000 27,000 27,000 27,000 26,000 26,000 26,000 26,000 67,000 26,000 
        total assets
      		104,794,000 111,325,000 119,564,000 129,589,000 133,414,000 127,673,000 95,981,000 106,171,000 115,229,000 106,404,000 114,973,000 122,691,000 124,937,000 126,576,000 134,037,000 144,405,000 152,548,000 181,707,000 55,062,000 
        liabilities and stockholders’ equity
      		                   
        current liabilities:
      		                   
        accounts payable
      		3,833,000 3,628,000 3,032,000 2,751,000 2,582,000 3,276,000 3,516,000 2,608,000 1,884,000 1,133,000 2,933,000 1,996,000 1,719,000 1,276,000 608,000 1,607,000 510,000 541,000 888,000 
        accrued expenses
      		9,484,000 7,590,000 6,657,000 5,757,000 8,180,000 7,671,000 5,610,000 5,790,000 5,980,000 6,274,000 5,992,000 5,961,000 6,369,000 6,120,000 5,301,000 4,985,000 5,398,000 4,977,000 3,772,000 
        total current liabilities
      		13,317,000 11,218,000 9,689,000 8,508,000 10,762,000 10,947,000 9,126,000 8,398,000 7,864,000 7,407,000 8,925,000 7,957,000 8,088,000 7,396,000 5,909,000 6,592,000 5,908,000 8,851,000 25,044,000 
        long-term debt
      		49,514,000 49,453,000 49,392,000 49,332,000 49,273,000 49,214,000 29,319,000 29,270,000 29,222,000 14,294,000 14,253,000 14,218,000 6,747,000     16,151,000 18,082,000 
        operating lease liability, non-current portion
      		638,000 730,000 819,000 802,000 877,000 951,000 1,023,000 1,092,000 1,160,000 916,000 946,000 59,000 117,000 175,000 250,000 304,000    
        other long-term liabilities
      		2,001,000 1,870,000 1,730,000 1,587,000 1,447,000 1,378,000 1,265,000 1,150,000 1,036,000 960,000 885,000 815,000 805,000 761,000 732,000 706,000 681,000 941,000 884,000 
        total liabilities
      		65,470,000 63,271,000 61,630,000 60,229,000 62,359,000 62,490,000 40,733,000 39,910,000 39,282,000 23,577,000 25,009,000 23,049,000 15,757,000 8,332,000 6,891,000 7,602,000 6,589,000 25,943,000 44,010,000 
        commitments and contingencies
      		                   
        stockholders’ equity:
      		                   
        common stock, 0.01 par value...
      		263,000 262,000 261,000 261,000 253,000 242,000 217,000 216,000 209,000 208,000 208,000 207,000 207,000 206,000 206,000 205,000 204,000 204,000 4,000 
        additional paid-in capital
      		629,916,000 626,714,000 623,724,000 620,416,000 608,354,000 591,844,000 568,837,000 565,822,000 553,326,000 551,045,000 549,150,000 547,195,000 545,362,000 543,903,000 542,967,000 541,547,000 540,707,000 539,941,000  
        accumulated deficit
      		-590,652,000 -578,718,000 -565,848,000 -551,112,000 -537,346,000 -526,695,000 -513,596,000 -499,567,000 -477,381,000 -468,218,000 -459,207,000 -447,556,000 -436,182,000 -425,646,000 -415,816,000 -404,745,000 -394,754,000 -384,184,000 -378,051,000 
        accumulated other comprehensive loss
      		-203,000 -204,000 -203,000 -205,000 -206,000 -208,000 -210,000 -210,000 -207,000 -208,000 -187,000 -204,000 -207,000 -219,000 -211,000 -204,000 -198,000 -197,000 -195,000 
        total stockholders’ equity
      		39,324,000 48,054,000 57,934,000 69,360,000 71,055,000 65,183,000 55,248,000 66,261,000 75,947,000 82,827,000 89,964,000 99,642,000 109,180,000 118,244,000 127,146,000 136,803,000 145,959,000 155,764,000  
        total liabilities and stockholders’ equity
      		104,794,000 111,325,000 119,564,000 129,589,000 133,414,000 127,673,000 95,981,000 106,171,000 115,229,000 106,404,000 114,973,000 122,691,000 124,937,000 126,576,000 134,037,000 144,405,000    
        warrant liability
      		                  19,051,000 
        convertible preferred stock, 0.01 par value...
      		                  329,983,000 
        stockholders’ equity
      		                   
        total liabilities, convertible preferred stock, and stockholders’ equity
      		                152,548,000 181,707,000  
        current portion of long-term debt
      		                 3,333,000 1,333,000 
        additional paid-in capital, common stock
      		                  59,311,000 
        total stockholders’ deficit
      		                  -318,931,000 
        total liabilities, convertible preferred stock, and stockholders’ deficit
      		                  55,062,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 
                          
          cash flows from operating activities:
        		                  
          net loss
        		-11,934,000 -12,870,000 -14,736,000 -13,766,000 -10,651,000 -13,099,000 -14,029,000 -22,186,000 -9,163,000 -9,011,000 -11,651,000 -11,374,000 -10,536,000 -9,830,000 -11,071,000 -9,991,000 -10,570,000 -6,133,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                  
          stock-based compensation
        		2,793,000 2,888,000 2,916,000 2,455,000 2,685,000 2,680,000 2,544,000 11,141,000 1,590,000 1,532,000 1,476,000 1,705,000 1,065,000 929,000 1,100,000 793,000 753,000 474,000 
          depreciation of property and equipment
        		185,000 194,000 193,000 184,000 178,000 169,000 141,000 131,000 129,000 137,000 127,000 129,000 128,000 127,000 95,000 62,000 56,000 42,000 
          loss on disposal of equipment
        		        0 0 0 4,000       
          amortization of deferred financing costs and loan discount
        		61,000 61,000 60,000 59,000 61,000 45,000 49,000 48,000 40,000 41,000 42,000 31,000     23,000 69,000 
          changes in operating assets and liabilities:
        		                  
          accounts receivable
        		-2,456,000 -1,056,000 1,859,000 256,000 -235,000 -427,000 -111,000 -944,000 -1,179,000 354,000 -292,000 -930,000 -207,000 -1,696,000 72,000 -1,113,000 861,000 -1,177,000 
          inventory
        		-811,000 326,000 -48,000 435,000 -215,000 -668,000 -168,000 -73,000 -96,000 41,000 -2,687,000 -1,284,000 -893,000 -230,000 -573,000 -1,381,000 -440,000 -278,000 
          prepaid expenses and other current assets
        		96,000 -910,000 541,000 -270,000 289,000 -1,011,000 908,000 345,000 371,000 213,000 -902,000 1,591,000 -1,155,000 -1,900,000 936,000 485,000 379,000 -1,279,000 
          accounts payable
        		205,000 596,000 281,000 169,000 -694,000 -240,000 908,000 724,000 751,000 -1,800,000 937,000 277,000 443,000 668,000 -999,000 1,097,000 -31,000 -347,000 
          accrued expenses
        		2,017,000 1,062,000 998,000 -2,289,000 574,000 2,141,000 -72,000 -82,000 -282,000 368,000 142,000 -398,000 289,000 836,000 344,000 -596,000 629,000 1,260,000 
          net cash from operating activities
        		-9,758,000 -9,709,000 -7,936,000 -12,767,000 -8,008,000 -10,410,000 -9,830,000 -10,896,000 -7,839,000 -8,125,000 -12,808,000 -10,249,000 -10,841,000 -11,096,000 -10,096,000 -10,644,000 -7,015,000 -9,215,000 
          capital expenditures
        		-68,000 -295,000 -103,000 -114,000 -52,000 -37,000 -355,000 -917,000 -169,000 -39,000 -143,000 -240,000 -79,000 -264,000 -49,000 -293,000 -538,000 -165,000 
          free cash flows
        		-9,826,000 -10,004,000 -8,039,000 -12,881,000 -8,060,000 -10,447,000 -10,185,000 -11,813,000 -8,008,000 -8,164,000 -12,951,000 -10,489,000 -10,920,000 -11,360,000 -10,145,000 -10,937,000 -7,553,000 -9,380,000 
          cash flows from investing activities:
        		                  
          purchase of property and equipment
        		-68,000 -295,000 -103,000 -114,000 -52,000 -37,000 -355,000 -917,000 -169,000 -39,000 -143,000 -240,000 -79,000 -264,000 -49,000 -293,000 -538,000 -165,000 
          net cash from investing activities
        		-68,000 -295,000 -103,000 -114,000 -52,000 -37,000 -355,000 -917,000 -169,000 -39,000 -143,000 -240,000 -79,000 -264,000 -49,000 -293,000 -538,000 -165,000 
          cash flows from financing activities:
        		                  
          proceeds from the exercise of common stock options
        		196,000 148,000 32,000 417,000 1,088,000 728,000 67,000 815,000 209,000 363,000 28,000 128,000 103,000 7,000 26,000 48,000 13,000 8,000 
          proceeds from employee stock purchase plan
        		393,000 0   397,000 0   483,000 0   292,000 0     
          proceeds from the issuance of common stock
        		-179,000 -45,000 0 9,198,000 12,351,000 19,624,000 -1,000 547,000           
          proceeds from debt financing
        		    0    15,000,000 0 0 7,500,000       
          debt financing costs
        		    -2,000    -112,000 0 -7,000 -60,000       
          net cash from financing activities
        		410,000 103,000 392,000 9,615,000 13,834,000 40,202,000 472,000 1,362,000 15,580,000 363,000 473,000 7,568,000 7,117,000 7,000 321,000 48,000 -21,287,000 133,168,000 
          effect of currency exchange on cash and cash equivalents
        		0 0 4,000 1,000 -2,000 6,000 -2,000 -3,000 4,000 -21,000 17,000 3,000 12,000 -8,000 -7,000 -6,000 -1,000 -3,000 
          net change in cash and cash equivalents
        		-9,416,000 -9,901,000 -7,643,000 -3,265,000 5,772,000 29,761,000 -9,715,000 -10,454,000 7,576,000 -7,822,000 -12,461,000 -2,918,000 -3,791,000 -11,361,000 -9,831,000 -10,895,000 -28,841,000 123,785,000 
          cash and cash equivalents at beginning of year
        		               142,072,000 0 0 
          cash and cash equivalents at end of period
        		-9,416,000 -9,901,000 -7,643,000 102,668,000 5,772,000 29,761,000 -9,715,000 80,115,000 7,576,000 -7,822,000 -12,461,000 103,276,000 -3,791,000 -11,361,000 -9,831,000 131,177,000 -28,841,000 123,785,000 
          supplemental information:
        		                  
          cash paid for interest
        		1,229,000 1,279,000 1,279,000 1,258,000 1,158,000 843,000 843,000 770,000 417,000 416,000 375,000 188,000     184,000 511,000 
          cash and cash equivalents at beginning of period
        		 0 0 105,933,000  0 0 90,569,000  0 0 106,194,000  0     
          cash paid for income taxes
        		        0 0   1,000 3,000   1,000 0 
          loss on debt extinguishment
        		                  
          changes in fair value of convertible preferred stock warrants
        		                0 -1,846,000 
          payments related to reverse stock split
        		                0  
          proceeds from the issuance of common stock, net of offering costs
        		                0  
          repayment on debt financing
        		                  
          rou assets exchanged for lease liabilities
        		                  
          proceeds from issuance of series g preferred stock, net of fees