Cytosorbents Corp (CTSO)
NASDAQ:CTSO
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Cytosorbents
(NASDAQ:CTSO)
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Rating:46Neutral
Price Target:
$0.49
▼(-30.43% Downside)
Action:Reiterated
Date:05/16/26
The score is held down mainly by weak financial fundamentals (ongoing losses, cash burn, and high leverage) and bearish technicals (price below key moving averages with negative MACD). Earnings-call updates provide some offset through improved cost control, better adjusted profitability, and a stated path toward cash-flow breakeven, but near-term liquidity and regulatory timing risks remain material.
Positive Factors
High Gross Margins
Consistently high gross margins reflect durable unit economics from a single-use cartridge model, supporting healthy product-level profitability. This margin structure provides room to absorb commercial expansion and fund R&D or regulatory work without immediate margin dilution, improving long-term resilience.
Negative Factors
High Leverage
Substantial leverage and a compressed equity base limit financial flexibility and increase refinancing or covenant risk. High debt ratios constrain strategic choices, raise dilution likelihood if capital raises are needed, and make execution on clinical and commercial plans more contingent on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
Consistently high gross margins reflect durable unit economics from a single-use cartridge model, supporting healthy product-level profitability. This margin structure provides room to absorb commercial expansion and fund R&D or regulatory work without immediate margin dilution, improving long-term resilience.
Read all positive factors
Cytosorbents (CTSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.89M
Dividend YieldN/A
Average Volume (3M)134.35K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth7.72%
EPS Growth34.39%
CountryUS
Employees149
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.19
Shares Outstanding62,794,746
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 Cap1.49
Enterprise Value/Revenue1.16
Enterprise Value/Gross Profit1.63
Enterprise Value/Ebitda-6.22
Forecast
1Y Price Target
$0.75Price Target Upside7.14% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.16
Revenue Forecast (FY)$39.28M
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:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call balanced operational and commercial progress against near‑term financial and regulatory challenges. Positives include modest top-line growth, strong international direct momentum (+13% YoY), healthy gross margins (69%), improved adjusted profitability metrics, strengthening clinical evidence (STAR-T showing >50% reduction in severe bleeding), and clearer regulatory direction with two FDA breakthrough designations. Main negatives are the widened GAAP net loss driven by FX, lower cash balance (~$6.4M), a delayed de novo submission requiring additional mechanistic studies and resources (likely pushing approval into late 2026/early 2027), Germany market softness, and a $0.5M order disruption tied to geopolitical events. Overall, management is executing cost reductions and targeting operating cash flow breakeven in H2 2026, and the call conveyed cautious optimism despite the identified risks.Positive Updates
Modest Revenue Growth
Q1 2026 revenue of $8.9 million, up 2% year-over-year (down 7% on a constant currency basis), demonstrating resilience amid external headwinds.
Negative Updates
Widening GAAP Net Loss and FX Impact
GAAP net loss increased to $5.1 million ($0.08/share) in Q1 2026 from $1.5 million ($0.02/share) prior year, primarily due to noncash foreign currency transaction impacts.
Read all updates
Q1-2026 Updates
Positive
Negative
Modest Revenue Growth
Q1 2026 revenue of $8.9 million, up 2% year-over-year (down 7% on a constant currency basis), demonstrating resilience amid external headwinds.
Read all positive updates
Company Guidance
Management reiterated near-term and medium-term targets: Q1 revenue was $8.9M (+2% YoY, -7% constant currency) with International Direct up ~13% YoY, building on 2025 core product sales of >$37M and >300,000 devices used in >70 countries; gross margin was 69% (vs 71% a year ago) after intentional production cuts to reduce inventory to $4.8M (from $5.3M); operating expenses fell to $9.2M (from $10.1M), producing an operating loss of $3.0M (≈22% improvement vs $3.9M) while net loss widened to $5.1M ($0.08/share) largely due to FX effects but adjusted net loss improved to $3.4M ($0.05/share) and adjusted EBITDA loss narrowed to $2.2M (from $2.7M); cash was $6.4M at March 31 (vs $7.8M YE) with total cash burn of $1.1M excl. $300K restructuring, headcount reduced ~10% in Q4’25, and ~$0.5M of distributor orders delayed in the Middle East; regulatory guidance: DrugSorb‑ATR de novo filing is now expected late‑2026/early‑2027 (typical ~150‑day review), a DOAC pre‑submission will be filed within ~30 days, STAR‑T showed >50% reduction in composite severe bleeding for ticagrelor removal, PuriFi pumps placed >100, and management is targeting operating cash‑flow breakeven in H2 2026 and a U.S. DrugSorb‑ATR TAM of $500M–$1B.Cytosorbents Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.20M | 37.06M | 35.59M | 31.08M | 34.69M | 40.11M |
| Gross Profit | 26.41M | 26.49M | 24.89M | 21.95M | 20.73M | 29.06M |
| EBITDA | -6.93M | -4.36M | -19.27M | -27.88M | -30.00M | -21.62M |
| Net Income | -11.85M | -8.20M | -20.72M | -29.25M | -32.81M | -24.56M |
Balance Sheet | ||||||
| Total Assets | 40.56M | 44.18M | 47.37M | 53.26M | 63.23M | 89.52M |
| Cash, Cash Equivalents and Short-Term Investments | 4.81M | 6.25M | 3.28M | 14.13M | 22.14M | 52.14M |
| Total Debt | 18.96M | 29.11M | 26.89M | 18.31M | 18.25M | 13.82M |
| Total Liabilities | 38.37M | 38.28M | 36.26M | 29.99M | 27.86M | 26.94M |
| Stockholders Equity | 2.19M | 5.90M | 11.11M | 23.28M | 35.37M | 62.58M |
Cash Flow | ||||||
| Free Cash Flow | -10.20M | -12.54M | -14.71M | -22.59M | -34.69M | -18.29M |
| Operating Cash Flow | -10.07M | -12.38M | -14.43M | -21.66M | -28.23M | -14.01M |
| Investing Cash Flow | -413.76K | -415.00K | -669.43K | -936.24K | -6.46M | -4.28M |
| Financing Cash Flow | 2.48M | 9.31M | 9.33M | 14.47M | 4.96M | 715.20K |
Cytosorbents Technical Analysis
Negative
0.70
Price Trends
0.60
Negative
0.65
Negative
0.75
Negative
Market Momentum
-0.04
Positive
29.23
Positive
12.25
Positive
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 0.56, above the 50-day MA of 0.60, and below the 200-day MA of 0.75, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 29.23 is Positive, neither overbought nor oversold. The STOCH value of 12.25 is Positive, 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 |
|---|---|---|---|---|---|---|---|
52 Neutral | $84.02M | -3.42 | 129.21% | ― | -44.27% | -0.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $41.30M | -0.72 | -1344.47% | ― | 13.48% | 43.42% | |
47 Neutral | $49.69M | -2.56 | 836.32% | ― | 31.90% | -10.81% | |
47 Neutral | $16.19M | -1.30 | -211.73% | ― | 8.92% | 17.49% | |
46 Neutral | $28.89M | -1.73 | -165.13% | ― | 7.72% | 34.39% | |
43 Neutral | $67.21M | -0.61 | -81.48% | ― | ― | ― |
* Healthcare Sector Average
CTSO
Cytosorbents
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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.