Quarterly ResultMay 13, 2026, 04:27 PM
Cytosorbents Q1 Net Loss Widens to $5.1M; Going Concern Doubt Raised
AI Summary
Cytosorbents Corporation reported a significant widening of its net loss to $5.1 million in Q1 2026, compared to $1.5 million in Q1 2025, despite a slight increase in net revenue to $8.9 million. The company's financial statements explicitly raise substantial doubt about its ability to continue as a going concern within the next twelve months, citing its cash position and historical cash usage. Total cash and cash equivalents decreased to $4.8 million, and stockholders' equity declined to $2.2 million.
Key Highlights
- Substantial doubt raised about Cytosorbents' ability to continue as a going concern.
- Net loss widened to $5.1 million in Q1 2026 from $1.5 million in Q1 2025.
- Net revenue increased slightly to $8.9 million in Q1 2026 from $8.7 million in Q1 2025.
- Basic and diluted net loss per share was $(0.08) in Q1 2026, up from $(0.02) in Q1 2025.
- Cash and cash equivalents decreased to $4.8 million as of March 31, 2026, from $6.2 million at year-end 2025.
- Total stockholders' equity decreased to $2.2 million as of March 31, 2026, from $5.9 million at year-end 2025.
- Current maturities of long-term debt increased to $6.6 million as of March 31, 2026, from $0 at year-end 2025.
- Operating expenses decreased to $9.2 million in Q1 2026 from $10.1 million in Q1 2025.