Filing Flows › CVRx (CVRX) › Q3 2025
CVRx (CVRX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
CVRx (CVRX) reported revenue of $14.7M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +8% from the quarter before. Operating margin was -83.5%, net loss $12.9M (87.6% of revenue).
CVRx, Q3 2025: revenue $14.7M (+10% year over year), operating margin -83.5%, net loss $12.9M, operating cash flow −$9.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.7M | +8% | +10% |
| Operating profit | −$12.3M | — | — |
| Net earnings | −$12.9M | — | — |
| Operating cash flow | −$9.7M | — | — |
What changed
Revenue was $14.7M in Q3 2025, up 10% year over year and up 8% from the previous quarter.
Gross margin was 86.8%, up 3.6 points from a year earlier. Operating costs exceeded revenue by $12.3M, an operating margin of -83.5%. Operating expenses grew 4% against revenue growth of 10%. The fastest-growing cost line was Research & development (+26%). The quarter ended with a net loss of $12.9M, narrower than the previous quarter's $14.7M loss.
Operating cash flow was −$9.7M. Non-cash charges added back $194K of depreciation and $2.9M of share-based compensation. Capital expenditures of $295K exceeded it, leaving free cash flow of −$10.0M.
Questions
What was CVRx's revenue in the third quarter 2025?
CVRx (CVRX) reported revenue of $14.7M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +8% from the quarter before.
Was CVRx profitable in the third quarter 2025?
Operating loss was $12.3M (-83.5% of revenue) and net loss $12.9M.
Source: CVRx 10-Q on SEC EDGAR.