CVRx misses in Q4, wins FDA approval for new IPG

Barostim Neo [Image from CVRx]

CVRx (NSDQ:CVRX) posted fourth-quarter results today that fell short of the consensus forecast on Wall Street and offered its outlook for the year ahead.

The Brooklyn Park, Minnesota-based neuromodulation implant developer reported a loss of $10.57 million, or $0.52 per diluted share, on sales of $3.7 million for the three months ended Dec. 31, 2021, for a bottom-line loss of 210% and sales growth of 75% compared with Q4 2020.

The loss was $0.08 per share deeper than expected by the Street, where analysts were looking for EPS of -$0.44 on sales of $3.86 million.

Full-year revenue climbed to $13 million, a 115 percent increase over the year before, but just short of the company’s projection after the third quarter.

The company lost nearly $43.1 million in 2021, compared to a $14.1 million loss in 2020. Significant costs included $27.9 million for selling,…

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