CVRx, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $56.7M | $51.3M | $39.3M | $22.5M | $13.0M |
| Cost of revenue | $8.3M | $8.3M | $6.3M | $5.0M | $3.6M |
| Gross profit | $48.3M | $43.0M | $33.0M | $17.5M | $9.4M |
| Selling, general & administrative | $88.5M | $91.3M | $64.5M | $50.0M | $27.9M |
| Research and development | $11.1M | $11.1M | $11.6M | $10.0M | $7.5M |
| Operating expenses | $99.6M | $102.4M | $76.1M | $60.0M | $35.4M |
| Operating income | -$51.3M | -$59.5M | -$43.1M | -$42.5M | -$26.0M |
| Interest expense | $5.8M | $4.4M | $1.8M | $165,000 | $2.2M |
| Pretax income | -$53.3M | -$59.9M | -$41.1M | -$41.3M | -$43.0M |
| Income tax expense | -$18,000 | $55,000 | $147,000 | $109,000 | $91,000 |
| Net income | -$53.3M | -$60.0M | -$41.2M | -$41.4M | -$43.1M |
| Balance Sheet | |||||
| Cash and equivalents | $75.7M | $105.9M | $90.6M | $106.2M | $142.1M |
| Current assets | $101.6M | $129.8M | $112.1M | $122.9M | $151.1M |
| Total assets | $104.8M | $133.4M | $115.2M | $124.9M | $152.5M |
| Current liabilities | $13.3M | $10.8M | $7.9M | $8.1M | $5.9M |
| Total liabilities | $65.5M | $62.4M | $39.3M | $15.8M | $6.6M |
| Total debt | $50.0M | $50.0M | $30.0M | — | — |
| Stockholders' equity | $39.3M | $71.1M | $75.9M | $109.2M | $146.0M |
| Cash Flow Statement | |||||
| Cash from operations | -$40.2M | -$39.1M | -$39.0M | -$42.7M | -$27.7M |
| Depreciation and amortization | $756,000 | $619,000 | $522,000 | $412,000 | $168,000 |
| Stock-based compensation | $11.1M | $19.1M | $6.3M | $3.9M | $1.9M |
| Capital expenditure | $580,000 | $1.4M | $591,000 | $685,000 | $1.2M |
| Free cash flow | -$40.8M | -$40.5M | -$39.6M | -$43.4M | -$28.9M |
Shares outstanding 26.5M · Free float 48.6%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.