CVRx Reports Preliminary Fourth Quarter and Fiscal Year 2021 Financial Results
Fourth Quarter 2021
Total revenue for the fourth quarter of 2021 is expected to be in the range of approximately
Full Year 2021
Total revenue for full year 2021 is expected to be in the range of approximately
“We are very proud of our accomplishments during 2021 considering the material pandemic headwinds that our entire global organization faced. We more than doubled our revenue as a result of the launch of Barostim for heart failure in the
“We are highly confident in our ability to continue to grow the business in the future despite the overhang of COVID-19 that persists into 2022. We will execute on our commercial strategy with the continued expansion of our salesforce and the efforts to grow the utilization of Barostim,” continued
For the full year of 2022, the Company expects:
- Total revenue between
$20.0 millionand $23.0 million;
- Gross margin between 74.0% and 76.0%;
- Operating expenses between
$55.0 millionand $61.0 million
For the first quarter of 2022, the Company expects to report total revenue between
Upcoming Investor Conference Presentation
The Company will be participating in the 40th Annual
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including statements regarding our future financial performance (including, specifically, our 2022 expected operating and financial results), our anticipated growth strategies, anticipated trends in our industry, our business prospects and our opportunities. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “outlook,” “guidance,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.
The forward-looking statements in this press release are only predictions and are based largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our history of significant losses, which we expect to continue; our limited history operating as a commercial company and our dependence on a single product, BAROSTIM NEO; our ability to establish and maintain sales and marketing capabilities; our ability to demonstrate to physicians and patients the merits of our BAROSTIM NEO; any failure by third-party payors to provide adequate coverage and reimbursement for the use of BAROSTIM NEO; our competitors’ success in developing and marketing products that are safer, more effective, less costly, easier to use or otherwise more attractive than BAROSTIM NEO; any failure to receive access to hospitals; our dependence upon third-party manufacturers and suppliers, and in some cases a limited number of suppliers; a pandemic, epidemic or outbreak of an infectious disease in the
Preliminary Fourth Quarter/Full Year 2021 Results
This press release includes estimated financial results for the fourth quarter and full year of 2021, which are preliminary, unaudited and represent the most recent current information available to Company management. The Company’s actual results may differ from these estimated financial results, including due to the completion of its financial closing procedures and final adjustments. The Company expects to issue full financial results for the fourth quarter and full year 2021 in February.
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Source: CVRx, Inc.