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CVRx (CVRX)
NASDAQ:CVRX
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.38Last Year’s EPS
-$0.44Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 12.76%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong revenue growth and significant reimbursement wins, particularly in the U.S. market, alongside expansion in implanting centers and a robust cash position. However, challenges included increased operating expenses and a rise in net loss and interest expenses. The company remains optimistic about future growth and adoption of its Barostim therapy.Company Guidance
During the CVRx Q3 2024 earnings call, the company provided financial guidance indicating a full-year revenue expectation between $50.5 million and $51.5 million, with an anticipated Q4 revenue ranging from $14.5 million to $15.5 million. The company reported a total revenue of $13.4 million for the third quarter, marking a 27% year-over-year increase, driven by the U.S. Heart Failure business. Operating expenses for the year are projected to be around $100 million. The gross margin for the quarter stood at 83%, with a slight decrease from the previous year's 84%. The company highlighted significant reimbursement achievements, such as a higher DRG payment for inpatient procedures and the approval of Category 1 CPT codes, which are expected to improve patient access and streamline prior authorization processes.Revenue Growth
Total revenue for Q3 2024 was $13.4 million, an increase of 27% compared to Q3 2023.
U.S. Market Performance
Revenue in the U.S. grew by 28% year-over-year, driven by heart failure revenue of $12.2 million from 391 revenue units.
Increased Adoption and Reimbursement Wins
Secured significant reimbursement wins, including a higher DRG payment for inpatient procedures and approval of Category 1 CPT codes, expected to improve payment predictability and access.
Expansion of Implanting Centers
Active implanting centers increased to 208 from 159 in September 2023 and 189 in June 2024.
Strong Cash Position
Cash and cash equivalents were $100.2 million as of September 30, 2024.
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CVRX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CVRX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $10.74 | $14.07 | +31.01% |
| Jul 29, 2024 | $9.27 | $7.92 | -14.56% |
| Apr 30, 2024 | $15.51 | $10.12 | -34.75% |
| Jan 25, 2024 | $29.20 | $27.23 | -6.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does CVRx (CVRX) report earnings?
CVRx (CVRX) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is CVRx (CVRX) earnings time?
CVRx (CVRX) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVRX EPS forecast?
CVRX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.38.
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