CVRx (NASDAQ:CVRX) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

14 Feb 2026, 14:10 by Sarita Garza · The Markets Daily

CVRx (NASDAQ:CVRX – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04), Zacks reports. The business had revenue of $16.02 million for the quarter, compared to analyst estimates of $15.75 million. CVRx had a negative return on equity of 91.20% and a negative net margin of 94.10%.

Here are the key takeaways from CVRx’s conference call:

CVRx expanded its commercial footprint to 53 U.S. territories and 252 active implanting centers, emphasizing a program-selling approach that drove higher account-level utilization (top 20% of centers annualized ~19 implants), which management says should support faster top-line growth as reps mature.
A major reimbursement milestone — the shift to Category I CPT codes (effective Jan 1, 2026) — should reduce prior-authorization friction, improve reimbursement predictability, and has already correlated with higher Medicare Advantage approval rates in 2025.
CVRx initiated the landmark BENEFIT-HF randomized trial (2,500 patients, ~150 U.S. centers) with CMS Category B IDE coverage, which management says could triple the addressable market to ~980,000 patients and materially expand long-term revenue if successful; enrollment is expected to begin in Q2 2026.
Reported Q4 revenue was $16.0M and full-year 2025 revenue was $56.7M (+4% and +10% respectively), and management guided 2026 revenue of $63M–$67M (11%–18% growth) with Q1 2026 revenue expected at $13.7M–$14.7M.
The company remains unprofitable (Q4 net loss $11.9M) with rising SG&A and R&D, guide-wide operating expenses of $103M–$107M for 2026 and expected 2026 cash burn of ~$30–35M, which—despite an amended term loan and ~ $86M starting cash—keeps near-term profitability and cash runway as risks to monitor.

CVRx Trading Down 13.0%

NASDAQ CVRX opened at $4.95 on Friday. The stock has a market capitalization of $129.74 million, a P/E ratio of -2.41 and a beta of 1.31. The business has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $8.08. The company has a debt-to-equity ratio of 1.03, a current ratio of 9.62 and a quick ratio of 8.60. CVRx has a one year low of $4.30 and a one year high of $15.41.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVRX shares. Cantor Fitzgerald lifted their target price on CVRx from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Canaccord Genuity Group reduced their target price on CVRx from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

View Our Latest Report on CVRX

Trending Headlines about CVRx

Here are the key news stories impacting CVRx this week:

Positive Sentiment: Company set a 2026 revenue target of $63M–$67M and highlighted accelerating adoption of its Barostim system after the new CPT billing code, a driver for revenue scale if physician adoption continues to pick up. Read More.
Positive Sentiment: Q4 revenue of $16.02M topped consensus (~$15.75M), indicating commercial traction even as the business remains unprofitable. Read More.
Neutral Sentiment: Q1 2026 revenue guidance was set at $13.7M–$14.7M versus a consensus of ~$14.3M — close to estimates but with room for investor interpretation (slightly conservative vs. midpoint). Read More.
Neutral Sentiment: Several earnings-call transcripts and coverage (Seeking Alpha, MSN, Business Insider) provide detail on commercial execution and margin dynamics; these are useful for hearing management’s cadence but don’t change the headline numbers. Read More.
Negative Sentiment: EPS missed: reported loss of ($0.46) vs. consensus ($0.42), increasing near-term profitability concerns despite the revenue beat. Analysts note negative margins and high ROE loss metrics remain a headwind. Read More.
Negative Sentiment: Pomerantz announced an investor investigation into CVRx, which can increase legal risk, create headline volatility and weigh on sentiment until resolved. Read More.
Neutral Sentiment: Multiple short-interest notices in the data feed claim sharp increases but show zero shares and NaN changes — the reporting appears inconsistent; monitor official short interest filings for clarity rather than the anomaly-laden notices. (No direct link—data feed entries 2/11–2/13)

Institutional Trading of CVRx

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of CVRx by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock valued at $2,249,000 after acquiring an additional 23,079 shares in the last quarter. XTX Topco Ltd acquired a new stake in CVRx in the second quarter worth $155,000. Marshall Wace LLP increased its stake in CVRx by 238.1% in the second quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock valued at $2,058,000 after purchasing an additional 246,548 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of CVRx by 3.5% during the second quarter. Cresset Asset Management LLC now owns 53,542 shares of the company’s stock valued at $315,000 after purchasing an additional 1,823 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of CVRx by 7.6% during the second quarter. Bank of America Corp DE now owns 89,049 shares of the company’s stock valued at $524,000 after purchasing an additional 6,312 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Company Profile

(Get Free Report)

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.