Filing Flows › CVRx (CVRX) › Q4 2025
CVRx (CVRX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
CVRx (CVRX) reported revenue of $16.0M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +9% from the quarter before. Operating margin was -69.8%, net loss $11.9M (74.5% of revenue).
CVRx, Q4 2025: revenue $16.0M (+4% year over year), operating margin -69.8%, net loss $11.9M, operating cash flow −$9.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.0M | +9% | +4% |
| Operating profit | −$11.2M | — | — |
| Net earnings | −$11.9M | — | — |
| Operating cash flow | −$9.8M | — | — |
What changed
Revenue was $16.0M in Q4 2025, up 4% year over year and up 9% from the previous quarter.
Gross margin was 86.3%, up 3.0 points from a year earlier. Operating costs exceeded revenue by $11.2M, an operating margin of -69.8%. Operating expenses grew 9% against revenue growth of 4%. The quarter ended with a net loss of $11.9M, narrower than the previous quarter's $12.9M loss.
Operating cash flow was −$9.8M. Non-cash charges added back $185K of depreciation and $2.8M of share-based compensation. Working capital and other items used $802K. Capital expenditures of $68K exceeded it, leaving free cash flow of −$9.8M.
Questions
What was CVRx's revenue in the fourth quarter 2025?
CVRx (CVRX) reported revenue of $16.0M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +9% from the quarter before.
Was CVRx profitable in the fourth quarter 2025?
Operating loss was $11.2M (-69.8% of revenue) and net loss $11.9M.
Source: CVRx 10-K on SEC EDGAR.