CVRx, Inc. announced Q4 and full year 2025 financial results, reporting full year revenue of $56.7 million, a 10% increase year-over-year, and a net loss of $53.3 million. The company also disclosed the initiation of the BENEFIT-HF trial and an amendment to its debt facility increasing the principal amount to up to $100 million.
Key takeaways
Total revenue for Q4 2025 was $16.0 million, a 4% increase over the prior year quarter, with full year 2025 revenue of $56.7 million, a 10% increase over 2024.
Net loss for the full year 2025 was $53.3 million, or $2.04 per share, compared to a net loss of $60.0 million, or $2.65 per share, in the prior year.
Active implanting centers in the U.S. grew to 252 as of December 31, 2025, up from 223 in the prior year.
The company amended its term loan agreement with Innovatus Capital Partners to increase the facility by $50 million to an aggregate principal amount of up to $100 million.
The BENEFIT-HF clinical trial was initiated with CMS Category B IDE coverage, with enrollment expected to begin in Q2 2026.
Full year 2026 guidance includes expected total revenue between $63.0 million and $67.0 million.