By Tom Kerr, CFA
NASDAQ: CTSO
READ THE FULL CTSO RESEARCH REPORT
1st Quarter 2026 Financial Results
On May 13, 2026, CytoSorbents (NASDAQ: CTSO) announced 1st quarter 2026 financial and operating results.
In the 1st quarter, revenues increased 2.0% to $8.9 million compared to the prior year period. Direct sales outside of Germany grew revenues 13.0%. Distributor sales were flat year-over-year, as progress across several territories was offset by delayed distributor orders of approximately $500,000 in certain areas of the Middle East and neighboring regions due to the current Iran conflict.
Gross margin decreased to 69.2% in the quarter compared to 71.1% in the 1st quarter of 2025. This was primarily driven by the intentional reduction of production volumes with the goal of lowering inventory levels and improving working capital.
Operating loss was ($3.0) million, an improvement from an operating loss of ($3.9) million in the prior year period. Net loss was ($5.1) million or ($0.08). Adjusted net loss, which excludes non-cash changes in foreign currency transactions and stock compensation, was ($3.4) million or ($0.05) per share, compared to an adjusted net loss of ($3.7) million or ($0.06) per share in the 1st quarter of 2025.
The adjusted EBITDA loss, which excludes the impact of non-cash changes in foreign currency transactions and non-cash stock compensation, was ($2.2) million compared to a loss of ($2.7) million in the 1st quarter of 2025.
Total cash balances were $6.4 million on March 31, 2026, compared to $7.8 million as of December 31, 2025. Total debt was approximately $17.0 million.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives payments totaling a maximum fee of up to $50,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.