CVRx Inc Q1 Revenue Climbs 20% to $14.8M; 257 U.S. Implant Centers
CVRx Inc reported first quarter 2026 revenue of $14.8 million, up 20% year-over-year, with U.S. revenue rising 22% to $13.7 million. The company expanded its U.S. network to 257 active implanting centers and enrolled the first patient in its BENEFIT-HF clinical trial.
1. Q1 Financial Highlights
CVRx Inc recorded total revenue of $14.8 million in Q1 2026, up 20% year-over-year, driven by U.S. sales of $13.7 million, a 22% increase. Gross profit reached $12.9 million, boosting gross margin to 87% versus 84% in Q1 2025.
2. U.S. Commercial Expansion
U.S. revenue units rose to 429 from 359 year-over-year, supported by expansion into three new sales territories. Active implanting centers grew to 257 as of March 31, 2026, up from 227 a year earlier, enhancing market penetration.
3. Expenses and Net Loss
R&D expenses climbed 23% to $3.1 million and SG&A increased 3% to $22.0 million, reflecting higher compensation and consulting costs. Net loss narrowed to $13.1 million, or $0.50 per share, compared to $13.8 million, or $0.53 per share, in Q1 2025, with cash reserves of $72.3 million.
4. BENEFIT-HF Trial Update
The first site activation on March 31, 2026, and enrollment of the first patient in Q2 mark key milestones for the BENEFIT-HF trial. This randomized controlled study will assess Barostim’s impact on all-cause mortality and heart failure decompensation events in an expanded patient population.