How did CVRx's revenue and expenses trend in Q4 2024?

**CVRx's revenue increased, while expenses rose, in Q4 2024.**

1. **Revenue Trend**: CVRx anticipated total revenue between $14.5 million and $15.5 million for Q4 2024, which aligns with analysts' expectations. This is a notable increase from the previous quarter, reflecting growing adoption of Barostim therapy.
2. **Expense Trend**: The company's net loss for Q4 2024 was reported at $13.1 million, which is a significant figure considering the revenue projections. This indicates that while revenue is growing, the company is facing challenges in managing its expenses, as evidenced by the negative net margin of 123.75% and negative return on equity of 89.06%. The net loss of $13.1 million represents a substantial increase from the $9 million net loss in the same quarter last year.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|CVRX|CVRX.O|CVRx|2024 Q1|-95.05890627747495|-2.2186E7|185|
|CVRX|CVRX.O|CVRx|2024 Q2|-20.41026521328641|-1.4029E7|185|
|CVRX|CVRX.O|CVRx|2024 Q3|-45.3667739429586|-1.3099E7|185|
|CVRX|CVRX.O|CVRx|2024 Q4|-16.239222961912038|-1.0651E7|185|

|code|Ticker|Name|Date|Selling, General, and Administrative Expenses|R&D Expenses|Selling, General, and Administrative Expenses YoY|Operating Expenses YoY|Operating Expenses|R&D Expenses YoY|market_code|
|---|---|---|---|---|---|---|---|---|---|---|
|CVRX|CVRX.O|CVRx|20240331|2.833E7|3057000|83.99688250957979|||-10.50936768149883|185|
|CVRX|CVRX.O|CVRx|20240630|2.1115E7|2765000|28.31965967790945|||-15.701219512195122|185|
|CVRX|CVRX.O|CVRx|20240930|2.1632E7|2504000|38.205980066445186|||-7.121661721068249|185|
|CVRX|CVRX.O|CVRx|20241231|2.024E7|2805000|19.023816524551602|||25.167336010709505|185|

3. **Operating Expenses**: CVRx's Selling, General, and Administrative (SG&A) expenses are on the rise, which contributes to the net loss. The company reported a 38% increase in SG&A expenses, amounting to $21.6 million, primarily driven by increased compensation, stock-based compensation, travel, and advertising expenses. Research and Development (R&D) expenses decreased by 7% to $2.5 million compared to the same period last year.
4. **Institutional Activity**: Institutional investors have shown interest in CVRx, with PDT Partners LLC and Emerald Advisers LLC acquiring new stakes in the company. This suggests confidence in CVRx's potential despite the financial challenges.

In conclusion, CVRx's Q4 2024 financials show a company grappling with growing revenue and operational expansion, while also dealing with the financial implications of increased expenses and net losses.