Cytosorbents Corp ( (CTSO) ) has released its Q1 earnings. Here is a breakdown of the information Cytosorbents Corp presented to its investors.
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CytoSorbents Corporation is a leader in blood purification technologies used to treat life-threatening conditions in intensive care units and cardiac surgery, with a focus on reducing inflammation and improving patient outcomes. In its first-quarter 2025 earnings report, CytoSorbents reported a slight decline in product revenue to $8.7 million, though it maintained stability on a constant currency basis. The company also highlighted a significant improvement in net loss, reducing it from $6.1 million in Q1 2024 to $1.5 million in Q1 2025, alongside a 17% improvement in adjusted EBITDA loss.
Key financial metrics from the report include a gross margin of 71%, down from 77% the previous year, and an operating loss improvement of 17% to $3.9 million. The company also successfully raised $6.8 million through a Rights Offering, enhancing its cash position to $13.1 million by the end of March 2025. Strategic initiatives included a reorganization of the German sales team to boost market engagement and the opening of a new sales subsidiary in Dubai to expand its presence in the Middle East and Africa.
CytoSorbents continues to focus on its core business, emphasizing the clinical benefits of its CytoSorb® product and aiming for near breakeven financial performance. The company is also advancing its DrugSorb™-ATR device, despite a recent FDA denial, by pursuing an appeal process to address outstanding regulatory issues. The management remains optimistic about achieving a final regulatory decision in 2025, both in the U.S. and Canada.
Looking ahead, CytoSorbents is committed to expanding its market reach and improving financial performance. The management is confident that ongoing strategic initiatives and regulatory efforts will enhance the company’s position in the global medical device market, particularly in addressing critical needs in cardiac surgery.