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CVRx (CVRX) guidance and outlook
CVRx (CVRX) lowered its guidance on Nov 5, 2026: Revenue $56.0M–$57.0M for FY2026; Gross margin 86%–87% for FY2026; Operating expenses $99.0M–$101M for FY2026. CVRx's 10-Q filed Nov 5, 2026 makes 16 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $56.0M–$57.0M | lowered |
| Gross margin | FY2026 | 86%–87% | reaffirmed |
| Operating expenses | FY2026 | $99.0M–$101M | reaffirmed |
| Revenue | Q4 2026 | $11.7M–$12.7M | new |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- We expect to derive future revenue by continuing to both expand our own dedicated salesforce and increase awareness of Barostim among payers, physicians, and patients.
- We intend to continue making significant investments building our U.S. commercial infrastructure by expanding and training our U.S. sales force.
- In the U.S., we estimate that 67% of our target patient population is Medicare-eligible based on the age demographic of the HFrEF patient population indicated for Barostim.
- As a result of the planned investments to fund our commercialization efforts, we expect to continue to incur net losses for the next several years, which may require additional funding and could include future equity and debt financing.
- We believe there are several important factors that have impacted and that we expect will continue to impact our business and results of operations.
- We expect to continue to drive increases in revenue through our efforts to increase awareness of Barostim among physicians, patients and payers, and by the expansion of our U.S. sales force, as well as by seeking expanded labeling for Barostim.
- As a result, we expect that U.S. sales will continue to account for the majority of our revenue going forward.
- We expect cost of goods sold to increase in absolute dollars
- Our gross margin has been and will continue to be affected by a variety of factors, but is primarily driven by the average sale price of our product, the percentage of products sold that include a full system (i.e., an IPG and a stimulation lead), as compared to individual IPG sales, and the allocated manufacturing overhead.
- While we expect our gross margin to be positively affected over time to the extent we are successful in selling more product through our direct sales force and by increasing our production volumes, it will likely fluctuate from period to period as we continue to introduce new or modified products and adopt new manufacturing processes and technologies.
- We expect R&D expenses to increase in absolute dollars as we continue to develop enhancements to Barostim.
- We expect SG&A expenses to increase in absolute dollars as we continue to expand our direct sales force and commercial organization in the U.S.
CVRx's latest quarter
CVRx, Q3 2026: revenue $13.8M (-6% year over year), operating margin -94.3%, net loss $14.2M, operating cash flow −$10.9M. The chart follows the revenue to costs, profit and cash.
Questions
Did CVRx raise or lower its guidance?
CVRx (CVRX) lowered its guidance on Nov 5, 2026: Revenue $56.0M–$57.0M for FY2026; Gross margin 86%–87% for FY2026; Operating expenses $99.0M–$101M for FY2026.
What does CVRx expect?
We expect to derive future revenue by continuing to both expand our own dedicated salesforce and increase awareness of Barostim among payers, physicians, and patients. We intend to continue making significant investments building our U.S. commercial infrastructure by expanding and training our U.S. sales force. In the U.S., we estimate that 67% of our target patient population is Medicare-eligible based on the age demographic of the HFrEF patient population indicated for Barostim.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.