CVRx (CVRX)
NASDAQ:CVRX
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CVRx
(NASDAQ:CVRX)
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Rating:45Neutral
Price Target:
$7.00
▼(-10.37% Downside)
Action:ReiteratedDate:04/14/26
The score is held down primarily by weak financial quality (large losses, cash burn, and increased leverage) and a technically weak price trend below key moving averages. This is partly offset by constructive earnings-call guidance and catalysts (strong gross margins, improving reimbursement dynamics, and the BENEFIT HF trial), but near-term profitability and cash usage remain key risks.
Positive Factors
Very high gross margins
Sustained gross margins in the mid-80s reflect advantaged product economics and manufacturing scale for Barostim. High per-unit margins provide durable operating leverage, enabling reinvestment in sales, clinical trials, and education while insulating core unit economics from moderate price pressure.
Negative Factors
Persistent negative cash flow
Consistent operating and free cash outflows indicate the business remains cash-consuming despite revenue growth. This structural cash burn increases reliance on external funding or debt, limiting financial flexibility and raising execution risk if revenue or access trends slow.
Read all positive and negative factors
Positive Factors
Negative Factors
Very high gross margins
Sustained gross margins in the mid-80s reflect advantaged product economics and manufacturing scale for Barostim. High per-unit margins provide durable operating leverage, enabling reinvestment in sales, clinical trials, and education while insulating core unit economics from moderate price pressure.
Read all positive factors
CVRx (CVRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$188.26M
Dividend YieldN/A
Average Volume (3M)197.28K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth18.44%
EPS Growth25.42%
CountryUS
Employees206
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.46
Shares Outstanding26,311,607
10 Day Avg. Volume162,574
30 Day Avg. Volume197,283
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)4.71
Price to Sales (P/S)3.27
P/FCF Ratio-4.54
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue3.15
Enterprise Value/Gross Profit3.69
Enterprise Value/Ebitda-3.74
Forecast
1Y Price Target
$11.00Price Target Upside40.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-2
Revenue Forecast (FY)$64.93M
CVRx Business Overview & Revenue Model
Company Description
CVRx, Inc., a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. It offers Barostim, a neuromodulation device indicated to improve...
How the Company Makes Money
CVRx primarily makes money by selling its Barostim therapy system to hospitals and healthcare providers for use in eligible patients. Revenue is generated from product sales associated with the implantation procedure, which typically includes the ...
CVRx Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Positive
The call highlights important commercial and reimbursement milestones (Category I CPT code, improved prior authorization rates), stronger gross margins and a major clinical trial (BENEFIT HF) that can materially expand the addressable market long-term. These positives are balanced against continued net losses, sizable and growing operating expense guidance, expected cash burn in 2026, and near-term revenue growth that remains modest as a larger sales organization continues to ramp. Management emphasizes building durable programs and long-term growth rather than short-term profitability.Positive Updates
Quarter and Full-Year Revenue
Q4 revenue of $16,000,000, up $700,000 or 4% year-over-year; full-year 2025 revenue of $56,700,000 (management described 2025 as a year of significant commercial investment).
Negative Updates
Wider Net Loss
Net loss increased to $11,900,000 in 2025 from $10,700,000 in 2024 (loss widened by $1,200,000, ~11%), or $0.46 per share vs $0.43 per share, reflecting continued investment and higher operating costs.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarter and Full-Year Revenue
Q4 revenue of $16,000,000, up $700,000 or 4% year-over-year; full-year 2025 revenue of $56,700,000 (management described 2025 as a year of significant commercial investment).
Read all positive updates
Company Guidance
Management guided full‑year 2026 revenue of $63.0–67.0 million (vs. $56.7M in FY2025, ≈11–18% growth), full‑year gross margin of 84–86%, operating expenses of $103–107 million, and Q1 2026 revenue of $13.7–14.7 million; they expect 2026 cash burn of roughly $30–35 million, begin the year with about $86 million of liquidity (cash & equivalents $75.7M as of 12/31/2025 plus a $10M draw), have an amended term facility increased to an aggregate capacity of up to $100M with $60M currently outstanding and access to an additional $40M of nondilutive capital, see at least two years of runway, assume a U.S. ASP of about $31,000 for planning, plan to add ~3 territories per quarter with high‑single‑digit net account growth per quarter, and noted the BENEFIT HF trial will not have a material impact on 2026 revenue.CVRx Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
32
Negative
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 56.65M | 51.29M | 39.30M | 22.47M | 13.04M |
| Gross Profit | 48.34M | 42.96M | 33.04M | 17.47M | 9.40M |
| EBITDA | -51.27M | -54.89M | -38.73M | -40.74M | -40.60M |
| Net Income | -53.31M | -59.97M | -41.20M | -41.43M | -43.08M |
Balance Sheet | |||||
| Total Assets | 104.79M | 133.41M | 115.23M | 124.94M | 152.55M |
| Cash, Cash Equivalents and Short-Term Investments | 75.71M | 105.93M | 90.57M | 106.19M | 142.07M |
| Total Debt | 50.79M | 50.43M | 30.61M | 7.09M | 0.00 |
| Total Liabilities | 65.47M | 62.36M | 39.28M | 15.76M | 6.59M |
| Stockholders Equity | 39.32M | 71.06M | 75.95M | 109.18M | 145.96M |
Cash Flow | |||||
| Free Cash Flow | -40.75M | -40.51M | -39.61M | -43.36M | -28.91M |
| Operating Cash Flow | -40.17M | -39.14M | -39.02M | -42.68M | -27.73M |
| Investing Cash Flow | -580.00K | -1.36M | -591.00K | -685.00K | -1.18M |
| Financing Cash Flow | 10.52M | 55.87M | 23.98M | 7.49M | 111.88M |
CVRx Technical Analysis
Negative
7.81
Price Trends
7.62
Positive
7.78
Negative
7.98
Negative
Market Momentum
-0.03
Positive
45.00
Neutral
29.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVRX, the sentiment is Negative. The current price of 7.81 is below the 20-day moving average (MA) of 8.52, above the 50-day MA of 7.62, and below the 200-day MA of 7.98, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 45.00 is Neutral, neither overbought nor oversold. The STOCH value of 29.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CVRX.
CVRx Risk Analysis
CVRx disclosed 55 risk factors in its most recent earnings report. CVRx 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
CVRx Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $367.11M | 19.35 | 10.87% | ― | 18.90% | 29.22% | |
76 Outperform | $199.60M | 21.81 | 20.28% | ― | 16.05% | 29.48% | |
60 Neutral | $67.23M | 22.00 | 10.27% | ― | 16.88% | ― | |
56 Neutral | $172.38M | -8.03 | -11.56% | ― | 4.68% | 55.37% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $144.74M | -4.35 | -32.46% | ― | 15.19% | -3.32% | |
45 Neutral | $188.26M | -3.47 | -99.33% | ― | 18.44% | 25.42% |
* Healthcare Sector Average
CVRX
CVRx
7.81
1.50
23.77%
ELMD
Electromed
25.21
2.28
9.94%
INGN
Inogen
6.34
-0.86
-11.94%
XTNT
Xtant Medical Holdings
0.51
0.12
30.77%
VMD
Viemed Healthcare
9.69
3.08
46.60%
NNOX
Nano-X Imaging
2.38
-2.32
-49.36%
CVRx Corporate Events
Business Operations and StrategyFinancial Disclosures
CVRx Reports Strong Q1 Growth and Trial Progress
Positive
Apr 13, 2026
On April 13, 2026, CVRx reported preliminary, unaudited first-quarter 2026 results showing expected revenue of $14.7 million to $14.8 million, up about 20% from a year earlier, with gross margin improving to roughly 87% and operating expenses risi...
Business Operations and StrategyExecutive/Board Changes
CVRx Introduces New Performance-Based Executive Stock Unit Plan
Positive
Mar 4, 2026
On February 27, 2026, CVRx’s board compensation committee approved an incremental performance stock unit program for all executive officers tied to a cumulative revenue goal for the 2026-2027 fiscal performance period. The grant-date value o...
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.