Company Raises FY26 Gross Margin Outlook to 85%-87%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 11 2026
0mins
Backs FY26 operating expenses view $103M-$107M. Raises FY26 gross margin view to 85%-87% from 84%-86%.
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Analyst Views on CVRX
Wall Street analysts forecast CVRX stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.630
Low
11.00
Averages
12.50
High
14.00
Current: 5.630
Low
11.00
Averages
12.50
High
14.00
About CVRX
CVRx, Inc. is a commercial-stage medical device company. The Company is focused on developing, manufacturing and commercializing advanced neuromodulation solutions for patients with cardiovascular diseases. The Company's integrated platform technology, Barostim, is designed to leverage the power of the brain and nervous system to address the imbalance of the autonomic nervous system (ANS), which causes heart failure with reduced ejection fraction (HFrEF) and other cardiovascular diseases. Barostim provides Baroreflex Activation Therapy (BAT) by sending imperceptible and persistent electrical pulses to baroreceptors located in the wall of the carotid artery to signal the brain to modulate cardiovascular function. Barostim is a minimally invasive neuromodulation device that consists of two implantable components, an implantable pulse generator (IPG) and a stimulation lead, and is programmed by a wireless clinician-controlled programmer that communicates with the IPG.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CVRx Secures Medicare Coverage for Barostim Implant from Humana
- Medicare Coverage Announcement: Humana's decision to provide Medicare coverage for CVRx's Barostim cardiac implant starting May 1, 2026, represents a significant milestone as it is the first coverage policy for this heart failure device in the U.S., greatly enhancing CVRx's competitive position in the heart failure treatment market.
- Positive Market Reaction: Following Humana's announcement, CVRx shares rose approximately 4% in afternoon trading, reversing two consecutive days of declines, indicating increased investor confidence in the company's future prospects.
- Clinical Trial Inclusion: The coverage policy not only includes the FDA-approved indications but also extends to patients enrolled in CVRx's BENEFIT-HF trial, which is expected to broaden the device's applicability and drive market penetration in the heart failure sector.
- Optimistic Financial Outlook: CVRx projects revenue between $63 million and $67 million for 2026, and with the implementation of the coverage policy, the company anticipates further improvements in its financial performance and market position.
See More
CVRx Q1 2026 Earnings Call Highlights
- Significant Revenue Growth: CVRx reported total revenue of $14.8 million in Q1 2026, reflecting a $2.4 million increase or 20% year-over-year, indicating strong performance in the U.S. market that is expected to drive future business expansion.
- Improved Gross Margin: The gross margin for the first quarter rose to 87%, up from 84% a year ago, showcasing improvements in cost control and operational efficiency, which will enhance profitability moving forward.
- Ongoing Market Expansion: By the end of Q1, CVRx had increased its active implanting centers to 257 from 252 at the end of 2025, and expanded its sales territories from 53 to 56, demonstrating the company's continued efforts in market penetration.
- Optimistic Outlook: The company expects full-year revenue for 2026 to be between $63 million and $67 million, and despite facing reimbursement volatility, management remains optimistic about future growth, emphasizing sustained market demand and product innovation.
See More
CVRx Launches Landmark Heart Failure Trial
- Trial Launch: CVRx successfully enrolled the first patient at Avera Heart Hospital in South Dakota, marking the initiation of the BENEFIT-HF trial, which aims to recruit 2,500 patients and is set to be one of the largest therapeutic device trials in heart failure.
- Trial Scale: This multicenter, randomized controlled trial will be conducted at approximately 150 centers in the U.S. and Germany, designed to evaluate all-cause mortality and heart failure decompensation events, holding significant clinical implications.
- Therapeutic Potential: If successful, the trial could expand the indicated patient population for Barostim therapy by approximately three times, significantly broadening access to this treatment and enhancing its application in heart failure management.
- Industry Response: CVRx CEO Kevin Hykes noted that the early milestone reflects tremendous excitement in the healthcare community regarding the trial, emphasizing the importance of collaborating with leading physicians to develop meaningful clinical evidence, indicating the potential for long-term adoption of Barostim therapy.
See More
CVRx Nominates Michael Dale to Board of Directors
- New Board Member: CVRx has nominated Michael Dale to its Board of Directors, with the election scheduled for June 1, 2026, aimed at strengthening the company's leadership in cardiovascular treatment.
- Extensive Industry Experience: Dale brings a proven track record of commercial success in the medical device sector, having served as CEO of Axogen and led Abbott's structural heart division for eight years, which is expected to provide strategic support for CVRx's Barostim product promotion.
- Driving Technological Innovation: CVRx's Barostim technology is the first FDA-approved medical device that uses neuromodulation to improve heart failure symptoms, and Dale's addition is anticipated to accelerate market acceptance of this technology, driving company growth in cardiovascular treatment.
- International Certification Advantage: Barostim has received FDA Breakthrough Device designation and complies with EU Medical Device Regulation, and Dale's extensive board experience will further enhance CVRx's competitiveness and compliance in the global market.
See More
CVRx Expects 20% Revenue Growth in Q1 2026
- Revenue Growth Expectation: CVRx anticipates total revenue for Q1 2026 to be between $14.7 million and $14.8 million, representing a 20% increase from $12.3 million in Q1 2025, indicating strong market performance and growth potential.
- Gross Margin Improvement: The expected gross margin for Q1 2026 is approximately 87%, up from 84% in Q1 2025, reflecting effective strategies in cost control and product pricing.
- Increase in Operating Expenses: Total operating expenses for Q1 2026 are projected to be around $25 million, compared to $23.7 million in Q1 2025, highlighting ongoing investments in expansion and market promotion.
- Expansion of Implanting Centers: As of March 31, 2026, the number of active implanting centers in the U.S. increased to 257 from 252 as of December 31, 2025, demonstrating positive progress in market penetration and customer base expansion.
See More
CVRx Under Investigation for Possible Securities Law Violations
- Performance Decline: CVRx reported only $12.3 million in revenue for Q1 2025, and despite bringing in several high-quality sales representatives, many are still in early territory development stages, which has undermined investor confidence.
- Revenue Guidance Cut: On May 8, 2025, CVRx slashed its full-year revenue guidance to between $55 million and $58 million, with management indicating that recent changes in the salesforce were more significant than initially anticipated, raising further concerns about the company's future.
- Stock Price Plunge: Following the revenue guidance cut, CVRx's stock price plummeted by $3.01, or 38.8%, to close at $4.77 on May 9, 2025, resulting in substantial losses for investors.
- Integration Challenges: On February 12, 2026, CVRx reported its Q4 and full-year 2025 results, with management noting that integrating new representatives has created near-term growth impacts, leading to another stock price drop of $0.74, or 13.0%.
See More
CVRx Secures Medicare Coverage for Barostim Implant from Humana
- Medicare Coverage Announcement: Humana's decision to provide Medicare coverage for CVRx's Barostim cardiac implant starting May 1, 2026, represents a significant milestone as it is the first coverage policy for this heart failure device in the U.S., greatly enhancing CVRx's competitive position in the heart failure treatment market.
- Positive Market Reaction: Following Humana's announcement, CVRx shares rose approximately 4% in afternoon trading, reversing two consecutive days of declines, indicating increased investor confidence in the company's future prospects.
- Clinical Trial Inclusion: The coverage policy not only includes the FDA-approved indications but also extends to patients enrolled in CVRx's BENEFIT-HF trial, which is expected to broaden the device's applicability and drive market penetration in the heart failure sector.
- Optimistic Financial Outlook: CVRx projects revenue between $63 million and $67 million for 2026, and with the implementation of the coverage policy, the company anticipates further improvements in its financial performance and market position.
See More
CVRx Q1 2026 Earnings Call Highlights
- Significant Revenue Growth: CVRx reported total revenue of $14.8 million in Q1 2026, reflecting a $2.4 million increase or 20% year-over-year, indicating strong performance in the U.S. market that is expected to drive future business expansion.
- Improved Gross Margin: The gross margin for the first quarter rose to 87%, up from 84% a year ago, showcasing improvements in cost control and operational efficiency, which will enhance profitability moving forward.
- Ongoing Market Expansion: By the end of Q1, CVRx had increased its active implanting centers to 257 from 252 at the end of 2025, and expanded its sales territories from 53 to 56, demonstrating the company's continued efforts in market penetration.
- Optimistic Outlook: The company expects full-year revenue for 2026 to be between $63 million and $67 million, and despite facing reimbursement volatility, management remains optimistic about future growth, emphasizing sustained market demand and product innovation.
See More
CVRx Launches Landmark Heart Failure Trial
- Trial Launch: CVRx successfully enrolled the first patient at Avera Heart Hospital in South Dakota, marking the initiation of the BENEFIT-HF trial, which aims to recruit 2,500 patients and is set to be one of the largest therapeutic device trials in heart failure.
- Trial Scale: This multicenter, randomized controlled trial will be conducted at approximately 150 centers in the U.S. and Germany, designed to evaluate all-cause mortality and heart failure decompensation events, holding significant clinical implications.
- Therapeutic Potential: If successful, the trial could expand the indicated patient population for Barostim therapy by approximately three times, significantly broadening access to this treatment and enhancing its application in heart failure management.
- Industry Response: CVRx CEO Kevin Hykes noted that the early milestone reflects tremendous excitement in the healthcare community regarding the trial, emphasizing the importance of collaborating with leading physicians to develop meaningful clinical evidence, indicating the potential for long-term adoption of Barostim therapy.
See More
CVRx Nominates Michael Dale to Board of Directors
- New Board Member: CVRx has nominated Michael Dale to its Board of Directors, with the election scheduled for June 1, 2026, aimed at strengthening the company's leadership in cardiovascular treatment.
- Extensive Industry Experience: Dale brings a proven track record of commercial success in the medical device sector, having served as CEO of Axogen and led Abbott's structural heart division for eight years, which is expected to provide strategic support for CVRx's Barostim product promotion.
- Driving Technological Innovation: CVRx's Barostim technology is the first FDA-approved medical device that uses neuromodulation to improve heart failure symptoms, and Dale's addition is anticipated to accelerate market acceptance of this technology, driving company growth in cardiovascular treatment.
- International Certification Advantage: Barostim has received FDA Breakthrough Device designation and complies with EU Medical Device Regulation, and Dale's extensive board experience will further enhance CVRx's competitiveness and compliance in the global market.
See More
CVRx Expects 20% Revenue Growth in Q1 2026
- Revenue Growth Expectation: CVRx anticipates total revenue for Q1 2026 to be between $14.7 million and $14.8 million, representing a 20% increase from $12.3 million in Q1 2025, indicating strong market performance and growth potential.
- Gross Margin Improvement: The expected gross margin for Q1 2026 is approximately 87%, up from 84% in Q1 2025, reflecting effective strategies in cost control and product pricing.
- Increase in Operating Expenses: Total operating expenses for Q1 2026 are projected to be around $25 million, compared to $23.7 million in Q1 2025, highlighting ongoing investments in expansion and market promotion.
- Expansion of Implanting Centers: As of March 31, 2026, the number of active implanting centers in the U.S. increased to 257 from 252 as of December 31, 2025, demonstrating positive progress in market penetration and customer base expansion.
See More
CVRx Under Investigation for Possible Securities Law Violations
- Performance Decline: CVRx reported only $12.3 million in revenue for Q1 2025, and despite bringing in several high-quality sales representatives, many are still in early territory development stages, which has undermined investor confidence.
- Revenue Guidance Cut: On May 8, 2025, CVRx slashed its full-year revenue guidance to between $55 million and $58 million, with management indicating that recent changes in the salesforce were more significant than initially anticipated, raising further concerns about the company's future.
- Stock Price Plunge: Following the revenue guidance cut, CVRx's stock price plummeted by $3.01, or 38.8%, to close at $4.77 on May 9, 2025, resulting in substantial losses for investors.
- Integration Challenges: On February 12, 2026, CVRx reported its Q4 and full-year 2025 results, with management noting that integrating new representatives has created near-term growth impacts, leading to another stock price drop of $0.74, or 13.0%.
See More
