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CTSO

Cytosorbents Corporation

CTSO

Cytosorbents Corporation • NASDAQ
$0.81 ▲ 2.55% (+0.02)
Market Cap $50.94 M
52w High $1.61
52w Low $0.60
Dividend Yield 0%
P/E -4.51
Volume 37.81K
Outstanding Shares 62.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.485M ▼ $9.528M ▼ $-3.17M ▼ -33.421% ▼ $-0.05 ▼ $-2.926M ▲
Q2-2025 $9.617M ▲ $10.429M ▲ $1.947M ▲ 20.245% ▲ $0.031 ▲ $-3.211M ▲
Q1-2025 $8.727M ▼ $10.095M ▼ $-1.478M ▲ -16.94% ▲ $-0.024 ▲ $-3.519M ▲
Q4-2024 $9.15M ▲ $13.444M ▲ $-7.884M ▼ -86.158% ▼ $-0.14 ▼ $-8.525M ▼
Q3-2024 $8.613M $8.9M $-2.334M -27.1% $-0.043 $-1.317M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.536M ▼ $45.75M ▼ $36.73M ▲ $9.02M ▼
Q2-2025 $10.204M ▼ $47.99M ▼ $36.404M ▲ $11.586M ▼
Q1-2025 $11.587M ▲ $50.782M ▲ $36.239M ▼ $14.543M ▲
Q4-2024 $3.28M ▼ $47.371M ▼ $36.265M ▲ $11.107M ▼
Q3-2024 $5.685M $47.804M $34.805M $12.999M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.947M ▲ $-1.51M ▲ $-131.758K ▼ $-1.134K ▼ $-1.383M ▼ $-1.547M ▲
Q1-2025 $-1.478M ▲ $-3.465M ▼ $-47.242K ▲ $6.832M ▲ $3.346M ▲ $-3.512M ▼
Q4-2024 $-7.884M ▼ $-2.342M ▲ $-124.193K ▲ $166.86K ▲ $-2.405M ▲ $-2.466M ▲
Q3-2024 $-2.334M ▲ $-2.461M ▲ $-298.354K ▼ $-99.031K ▼ $-2.773M ▼ $-2.76M ▲
Q2-2024 $-4.143M $-4.795M $-118.982K $9.835M $-149.672K $-4.915M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Grant income
Grant income
 $0 ▲$0 ▲$0 ▲$0 ▲
Other sales
Other sales
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Cytosorbents looks like a classic early‑stage medical device company: small but fairly stable revenue, clear gross profit on what it sells, yet operating costs that are still much higher than its income. Losses have been consistent over the past several years, with a noticeable dip into deeper losses in the middle of the period and some modest improvement more recently. In plain terms, the core product generates value, but the company is not yet large enough or efficient enough to cover its research, sales, and overhead expenses. Profitability remains a future goal rather than a current reality.

Balance Sheet

Balance Sheet The balance sheet shows a company that once had a comfortable cash cushion and stronger equity, but has gradually used up much of that safety margin. Cash levels have stepped down over time, while debt has grown from almost nothing to a meaningful portion of the capital structure. Shareholders’ equity has been shrinking, reflecting ongoing losses and a thinner financial buffer. Overall, financial flexibility is more limited than it used to be, and the company appears more dependent on external funding than in prior years.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations has been negative for several years, meaning the business is still consuming cash rather than generating it. The burn rate appears to have eased somewhat more recently, but free cash flow remains negative. Capital spending is modest, so the cash outflow is mainly driven by operating losses rather than heavy investment in equipment. This pattern suggests an ongoing need for funding through either new financing, partnerships, or cost reductions unless revenue meaningfully scales up.

Competitive Edge

Competitive Edge Cytosorbents operates in a specialized corner of critical care and cardiac surgery, built around its blood purification cartridges. Its core strengths are a differentiated broad‑spectrum adsorption technology, a sizeable patent portfolio, and established regulatory approvals and sales channels in many countries outside the U.S. The products integrate easily with existing hospital equipment and target real unmet needs, especially around inflammatory “cytokine storm” and blood thinner removal during surgery. On the other hand, the company is small compared to global device giants and regional competitors in blood purification, and it must keep proving clinical value and cost effectiveness to win adoption and reimbursement in a crowded, conservative hospital market.

Innovation and R&D

Innovation and R&D The business model is heavily innovation‑driven. The polymer bead platform supports multiple products—CytoSorb, DrugSorb‑ATR, and pipeline programs like HemoDefend—positioning the company more as a long‑term technology platform than a single‑product story. Regulatory milestones are critical: the appeal process for DrugSorb‑ATR in the U.S. and potential new indications for CytoSorb could significantly change the growth path, but they also carry meaningful risk and uncertainty. Ongoing clinical trials, data generation, and strategic partnerships (such as with Fresenius) are central to the strategy and likely account for a large share of spending today.

Summary

Cytosorbents is an innovative, niche medical device company with technology that addresses serious problems in intensive care and cardiac surgery. Commercial traction exists internationally, and the scientific and regulatory groundwork is substantial, giving the company a credible position despite its small size. Financially, however, it is still in a build‑out phase: revenues are modest, losses are recurring, cash has declined, and reliance on external capital has increased. The story hinges on two broad questions: whether the company can secure key regulatory wins and broader clinical adoption, and whether it can scale fast enough to move from persistent cash burn to a more self‑sustaining business model. Investors typically view this kind of profile as higher risk but potentially higher reward, highly sensitive to regulatory, clinical, and funding developments.

NEWS

November 17, 2025 · 5:42 PM UTC

Updated: CytoSorbents to Present at the Jefferies Global Healthcare Conference in London

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November 13, 2025 · 4:05 PM UTC

CytoSorbents Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 11, 2025 · 7:00 AM UTC

CytoSorbents to Participate at the Jefferies Global Healthcare Conference in London

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October 30, 2025 · 7:00 AM UTC

CytoSorbents to Report Third Quarter 2025 Financial Results and Recent Business Highlights

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October 28, 2025 · 7:00 AM UTC

In Memoriam: Dr. Robert Hawes Bartlett (1939-2025) - Father of Extracorporeal Membrane Oxygenation (ECMO) and Former CytoSorbents Chief Medical Officer

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