CYTOSORBENTS CORPORATION Reports Second Quarter FY2023 Earnings Results for June 30 2023
August 28, 2023
🌥️Earnings Overview
CYTOSORBENTS CORPORATION ($NASDAQ:CTSO) announced its financial results for the second quarter of FY2023, which ended on June 30 2023, on August 1 2023. Total revenue for the quarter was USD 8.1 million, representing a 10.1% increase compared to the same period in FY2022. Net income for the quarter was USD -6.2 million, a decrease from the -10.9 million reported in the prior year.
Price History
The stock opened at $3.6 and closed at $3.6, up by 1.4% from prior closing price of 3.6. This reflects a positive outlook for the company as they enter the third quarter of the fiscal year. CYTOSORBENTS CORPORATION, a leader in the healthcare industry, is focused on developing innovative and cost-effective treatments for life-threatening illnesses. They provide a wide range of products and services designed to improve patient outcomes and optimize patient care. These products and services range from patient monitoring devices to diagnostic testing and treatment options.
CYTOSORBENTS CORPORATION plans to continue its focus on product innovation, cost efficiency, and customer service as it moves forward into the third quarter of the fiscal year. The company expects to remain profitable and continue to provide quality products and services that positively impact patient outcomes. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cytosorbents Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 30.09 | -26.45 | -95.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cytosorbents Corporation. More…
| Operations | Investing | Financing |
| -22.12 | -1.47 | 6.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cytosorbents Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 52.44 | 28.35 | 0.55 |
Key Ratios Snapshot
Some of the financial key ratios for Cytosorbents Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.1% | – | -99.1% |
| FCF Margin | ROE | ROA |
| -78.4% | -70.3% | -35.5% |
Analysis
At GoodWhale, we have conducted an analysis of CYTOSORBENTS CORPORATION‘s wellbeing. According to our Star Chart, CYTOSORBENTS CORPORATION is strong in asset, medium in growth and weak in dividend, profitability. Additionally, our health score for CYTOSORBENTS CORPORATION is 2/10, which indicates that the company may not be able to sustain future operations in a time of crisis due to its weak cashflows and debt. We classify CYTOSORBENTS CORPORATION as an “elephant” company, which means it is rich in assets after deducting off liabilities. As such, investors who are looking for companies with a strong asset base may be interested in investing in CYTOSORBENTS CORPORATION. These investors may be particularly interested in companies that provide a strong return on investment or can guarantee a steady stream of income from dividend payments. More…
Peers
The CytoSorb is a blood purification device that removes toxins from the blood. The company’s competitors are PROCEPT BioRobotics Corp, Senzime AB, Natus Medical Inc.
– PROCEPT BioRobotics Corp ($NASDAQ:PRCT)
Procept BioRobotics is a medical device company that develops and commercializes minimally invasive surgical robots. The company’s products include the Corpro robot, which is used for prostatectomy surgery, and the Renovare robot, which is used for kidney surgery. Procept BioRobotics is headquartered in San Carlos, California.
– Senzime AB ($OTCPK:SNZZF)
As of 2022, Sensime AB has a market capitalization of 77.38M and a return on equity of -50.55%. The company develops and markets products for the diagnosis and treatment of cardiovascular diseases.
Summary
CYTOSORBENTS CORPORATION reported their earnings for the second quarter of FY2023, ending June 30 2023. With total revenue of USD 8.1 million, there was a 10.1% increase from the same period the previous year. Unfortunately, net income decreased to USD -6.2 million, a decrease from the -10.9 million reported in the same quarter the previous year. From an investing standpoint, this negative income means investors should be cautious when considering CYTOSORBENTS CORPORATION.
It is important to analyze the company’s financial position and industry trends before making a decision. Investors may want to keep an eye on any changes to the company’s financials or performance in the upcoming quarters before investing.
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