CVRx (NASDAQ:CVRX), a commercial-stage medical device company specializing in neuromodulation for cardiovascular disease, reported on April 13, 2026, preliminary revenue growth of approximately 20% for the first quarter.
The company cited improved reimbursement dynamics and the activation of a pivotal clinical trial as key drivers for its 2026 outlook.
The company expects to report total revenue in the range of $14.7 million to $14.8 million for the quarter ended March 31, 2026, compared to $12.3 million in the same period last year.
Preliminary gross margin is estimated at approximately 87%, a 300-basis-point improvement over the 84% reported in the first quarter of 2025.
A significant factor in the quarter’s performance was the transition to Category I CPT codes for the Barostim system, which took effect on January 1, 2026.
This regulatory shift has already begun to streamline the reimbursement process, particularly within the Medicare Advantage (MA) segment.
Early data for January and February 2026 showed that 30-day prior authorization approval rates for MA patients reached 50%, up from 44% in 2025 and 31% in 2024.
On the clinical front, CVRx reached a major milestone with the activation of the first site in its BENEFIT-HF trial on March 31, 2026.
This landmark randomized controlled trial is designed to evaluate the impact of Barostim on mortality and heart failure decompensation in an expanded patient population—specifically those with left ventricular ejection fractions (LVEF) up to 50%.
If successful, the trial could triple the company’s addressable patient market.
Enrollment is scheduled to begin in the second quarter of 2026.
Financially, CVRx ended the quarter with approximately $72.3 million in cash and cash equivalents.
While operating expenses for the quarter are projected at roughly $25 million—reflecting continued investments in the sales organization and clinical trials—the company’s strengthened balance sheet follows a recent debt amendment that increased its available credit facility.
The company also expanded its commercial footprint, ending the quarter with 257 active implanting centers in the U.S., up from 252 at year-end 2025, and increasing its sales territories to 56.