CVRx, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2023 and First Quarter and Full Year of 2024
January 08, 2024 at 08:30 am EST
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CVRx, Inc. provided earnings guidance for the fourth quarter and full year of 2023 and first quarter and full year of 2024. For the fourth quarter of 2023, the company expects total revenue to be in the range of approximately $11.2 million to $11.3 million, representing an increase of approximately 56% to 58% over fourth quarter 2022 revenue of $7.2 million. Total revenue generated expects to be comprised of approximately $10.2 million in U.S. heart failure revenue, $1.0 million in European revenue and $0.1 million in U.S. legacy revenue.
For the full year of 2023, the company expects total revenue to be in the range of approximately $39.2 million to $39.3 million, representing an increase of approximately 74% to 75% over full year 2022 revenue of $22.5 million. Total revenue expects to be comprised of approximately $34.6 million in U.S. heart failure revenue, $4.2 million in European revenue and $0.5 million in U.S. legacy revenue.
For the first quarter of 2024, the company expects total revenue to be between $11.0 million and $12.0 million.
For the full year of 2024, the company expects total revenue to be between $53.0 million and $57.0 million.
CVRx, Inc. is a commercial-stage medical device company. The Company is focused on developing, manufacturing and commercializing advanced neuromodulation solutions for patients with cardiovascular diseases. The Company's integrated platform technology, Barostim, is designed to leverage the power of the brain and nervous system to address the imbalance of the autonomic nervous system (ANS), which causes heart failure with reduced ejection fraction (HFrEF) and other cardiovascular diseases. Barostim provides Baroreflex Activation Therapy (BAT) by sending imperceptible and persistent electrical pulses to baroreceptors located in the wall of the carotid artery to signal the brain to modulate cardiovascular function. Barostim is a minimally invasive neuromodulation device that consists of two implantable components, an implantable pulse generator (IPG) and a stimulation lead, and is programed by a wireless clinician-controlled programmer that communicates with the IPG.
CVRX, INC. 
