CVRx, Inc. reported solid financial and operating results for the second quarter ended June 30, 2025, with total revenue reaching $13.6 million. This represents a 15% increase over the second quarter of 2024 and exceeded analyst expectations of $13.29 million. U.S. Heart Failure revenue grew to $12.1 million, with 387 units implanted.
The company continued to expand its commercial footprint, increasing U.S. active implanting centers to 240 and U.S. sales territories to 47. Gross margin remained strong at 84%. However, the net loss for the quarter was $14.7 million, or $0.57 per share, which widened slightly compared to the prior year, with EPS lagging expectations.
CVRx also announced the appointment of Brent Binkowski as Chief Operating Officer, effective August 2025. Binkowski brings over 20 years of medical device leadership experience and will oversee research and development, operations, regulatory affairs, and quality functions, a strategic move to enhance operational execution.
For the full year 2025, CVRx narrowed its revenue guidance to a range of $55.0 million to $57.0 million, from the previous range of $55 million to $58 million, reflecting increased confidence in commercial results. Operating expenses are now projected between $96.0 million and $98.0 million. For the third quarter of 2025, the company expects revenue between $13.7 million and $14.7 million.
As of June 30, 2025, cash and cash equivalents stood at $95.0 million. Net cash used in operating and investing activities improved to $8.0 million for the quarter, down from $10.2 million in the prior year period, indicating some progress in managing cash burn.
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