Cytosorbents Corp (CTSO)
NASDAQ:CTSO
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Cytosorbents
(NASDAQ:CTSO)
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Rating:44Neutral
Price Target:
$0.53
▼(-24.14% Downside)
Action:ReiteratedDate:04/03/26
The score is held down primarily by weak financials (ongoing losses, negative free cash flow, and higher leverage from rising debt and shrinking equity). Technicals also indicate a broader downtrend despite oversold readings. The earnings call provides some support via a defined path toward cash-flow breakeven and sustained high gross margins, but near-term liquidity and regulatory timing uncertainty remain key risks.
Positive Factors
High gross margins
Sustained gross margins in the low‑70s indicate strong product economics for the single‑use CytoSorb cartridge. High incremental margins create capacity to absorb fixed R&D and SG&A while scaling, improving the odds of durable profitability as revenue grows and fixed costs are leveraged.
Negative Factors
Elevated leverage and weak equity
Rapid equity erosion and a nearly 5x debt-to-equity ratio materially constrain financial flexibility. High leverage increases refinancing risk and interest burden, limiting the company's ability to invest in commercial expansion or absorb shocks without dilutive or costly capital raises.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins in the low‑70s indicate strong product economics for the single‑use CytoSorb cartridge. High incremental margins create capacity to absorb fixed R&D and SG&A while scaling, improving the odds of durable profitability as revenue grows and fixed costs are leveraged.
Read all positive factors
Cytosorbents (CTSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$37.93M
Dividend YieldN/A
Average Volume (3M)134.35K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth-8.97%
EPS Growth47.29%
CountryUS
Employees149
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.09
Shares Outstanding62,700,000
10 Day Avg. Volume163,660
30 Day Avg. Volume134,354
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)6.74
Price to Sales (P/S)1.07
P/FCF Ratio-3.17
Enterprise Value/Market Cap1.61
Enterprise Value/Revenue1.65
Enterprise Value/Gross Profit2.31
Enterprise Value/Ebitda-4.58
Forecast
1Y Price Target
$0.75Price Target Upside7.14% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$40.58M
Cytosorbents Business Overview & Revenue Model
Company Description
Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology. Its flagship product is Cy...
How the Company Makes Money
Cytosorbents primarily makes money by selling its single-use hemoadsorption devices (notably CytoSorb) and related consumables to hospitals and healthcare providers, generating recurring revenue tied to procedure volume because each treatment uses...
Cytosorbents Earnings Call Summary
Earnings Call Date:Mar 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: meaningful operational and clinical progress (double‑digit international growth, high gross margins, clinical publication, PuriFi placements) and a clear path to reduce costs and target cash flow breakeven in H2 2026. Offsetting factors include a near‑term revenue hit in Germany from restructuring, persistent adjusted losses, a modest cash balance with recent operating cash burn and an unresolved FDA resubmission timeline for DrugSorb‑ATR. Highlights demonstrate strategic traction and clinical validation, but financial and regulatory risks create near‑term uncertainty.Positive Updates
Full Year Revenue Growth
Full year 2025 revenue increased 4% to $37.1 million (flat on a constant currency basis), representing record core product sales.
Negative Updates
Germany Sales Decline
Germany sales declined 10% to $11.8 million in 2025 reflecting near‑term impact of proactive restructuring of the German sales operation; turnaround progress described as gradual with results expected over 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Full Year Revenue Growth
Full year 2025 revenue increased 4% to $37.1 million (flat on a constant currency basis), representing record core product sales.
Read all positive updates
Company Guidance
Management's guidance was that the company is targeting operating cash‑flow breakeven in the second half of 2026, with operating cash burn expected to decline as working capital normalizes in H1 2026; they reiterated a near‑term gross margin target in the low‑70% range (71% for FY2025, 74% in Q4) and said they expect to sustain margins around ~71–74% while driving revenue growth beyond 2025's $37.1 million (up 4% and flat on a constant‑currency basis) and Q4 revenue of $9.2 million; specific operational priorities include executing the Germany turnaround (Germany sales were $11.8M, down 10%), growing international channels (direct international ex‑Germany $8.6M, +13%; distributor sales $16.5M, +11.4% and together ~68% of revenue), continuing PuriFi roll‑out (>100 units placed) and advancing DrugSorb‑ATR toward a targeted FDA resubmission (initial De Novo denied but appeal cleared safety concerns and narrowed remaining issues), and they noted a Dec. 31 cash balance of $7.8M (after $2.5M of debt proceeds in November), a Q4 net operating cash burn of $3.8M, a Q4 restructuring charge of $0.5M, and plans to provide timing on the DrugSorb‑ATR resubmission once FDA requirements are finalized.Cytosorbents Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 37.06M | 35.59M | 31.08M | 34.69M | 40.11M |
| Gross Profit | 26.49M | 25.13M | 21.95M | 20.73M | 29.06M |
| EBITDA | -12.74M | -15.22M | -27.88M | -30.00M | -21.62M |
| Net Income | -8.20M | -20.72M | -29.25M | -32.81M | -24.56M |
Balance Sheet | |||||
| Total Assets | 44.18M | 47.37M | 53.26M | 63.23M | 89.52M |
| Cash, Cash Equivalents and Short-Term Investments | 6.25M | 3.28M | 14.13M | 22.14M | 52.14M |
| Total Debt | 29.11M | 26.89M | 18.31M | 18.25M | 13.82M |
| Total Liabilities | 38.28M | 36.26M | 29.99M | 27.86M | 26.94M |
| Stockholders Equity | 5.90M | 11.11M | 23.28M | 35.37M | 62.58M |
Cash Flow | |||||
| Free Cash Flow | -12.54M | -14.71M | -22.59M | -34.69M | -18.29M |
| Operating Cash Flow | -12.38M | -14.43M | -21.66M | -28.23M | -14.01M |
| Investing Cash Flow | -415.00K | -669.43K | -936.24K | -6.46M | -4.28M |
| Financing Cash Flow | 9.31M | 9.33M | 14.47M | 4.96M | 715.20K |
Cytosorbents Technical Analysis
Negative
0.70
Price Trends
0.67
Negative
0.68
Negative
0.81
Negative
Market Momentum
-0.03
Negative
44.68
Neutral
64.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTSO, the sentiment is Negative. The current price of 0.7 is above the 20-day moving average (MA) of 0.63, above the 50-day MA of 0.67, and below the 200-day MA of 0.81, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 44.68 is Neutral, neither overbought nor oversold. The STOCH value of 64.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CTSO.
Cytosorbents Risk Analysis
Cytosorbents disclosed 39 risk factors in its most recent earnings report. Cytosorbents reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cytosorbents Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $55.06M | -4.97 | 129.21% | ― | -15.02% | -11.06% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $53.76M | -2.73 | -2072.11% | ― | 27.90% | 1.62% | |
46 Neutral | $22.21M | -2.58 | -221.04% | ― | -18.96% | 8.98% | |
44 Neutral | $37.93M | -4.85 | -91.54% | ― | -8.97% | 47.29% | |
44 Neutral | $25.39M | -1.43 | -441.55% | ― | 12.24% | 47.45% |
* Healthcare Sector Average
CTSO
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Cytosorbents Corporate Events
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
CytoSorbents Receives Nasdaq Extension to Regain Compliance
Negative
Apr 2, 2026
On April 1, 2026, CytoSorbents Corporation disclosed that Nasdaq granted the company a 180-day extension, until September 28, 2026, to regain compliance with the $1.00 minimum bid price requirement for continued listing. The company’s shares...
Business Operations and StrategyFinancial Disclosures
CytoSorbents Narrows Losses Amid Strategic Shift and Growth
Positive
Mar 25, 2026
On March 25, 2026, CytoSorbents reported that revenue for the year ended December 31, 2025 rose 4% to $37.1 million, with gross margin improving to 71% and operating loss narrowing to $14.7 million. The company’s 2025 net loss shrank sharply...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.