CVRXNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
CVRx, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$1.35+0.05 (+3.85%)
Close on Oct 19, 2026
- Market cap
- $35.80M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
85.3%+9.1 pts over 5 years
Operating margin
-90.5%+99.7 pts over 5 years
Net margin
-94.1%+139.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.4% | +36.1% | +56.4% | – | |
| Gross profit | +12.5% | +40.4% | +60.0% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 4.9% | -96.6% | |
| Return on assets | – | – | -44.8% | |
| Current ratio | – | 8.07 | 7.63 | |
| Debt to equity | – | -0.07 | 1.26 | |
| Interest coverage | – | -4.7× | -8.8× | |
| Inventory turnover | – | – | 0.7× | |
| Capex to revenue | – | 5.1% | 1.0% | |
| Diluted shares | – | 0M | 26M |
Where the cash went
Fiscal 2021 to 2025, five years combined
CVRx generated $188.74M from operations and spent $4.40M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$188.74M
Used
$4.40M
Capital expenditure$4.40M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-94.1%
×Asset turnover0.48×
×Equity multiplier2.16×
=Return on equity, FY2025-96.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -94.1% | 0.48× | 2.16× | -96.6% |
| FY2024 | -116.9% | 0.41× | 1.69× | -81.6% |
| FY2023 | -104.8% | 0.33× | 1.30× | -44.5% |
| FY2022 | -184.4% | 0.16× | 1.09× | -32.5% |
| FY2021 | -330.5% | 0.12× | -1.48× | 58.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$53.31M
- Cash generatingOperating cash flow above zero-$40.17M
- Return on assets improvedROA up on the prior year-52.0% → -40.0%
- Earnings backed by cashOperating cash flow above net income-$40.17M vs -$53.31M
- Less leverageLong-term debt to assets fell36.9% → 47.2%
- Better liquidityCurrent ratio rose12.06 → 7.63
- No dilutionShare count did not rise23M → 26M
- Gross margin improvedGross margin up on the prior year83.75% → 85.33%
- More efficientAsset turnover rose0.45 → 0.42