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Cytosorbents
(NASDAQ:CTSO)
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Rating:47Neutral
Price Target:
$0.36
▼(-1.39% Downside)
Action:Reiterated
Date:08/09/26
CTSO scores below average primarily due to weak financial performance (ongoing losses, negative cash flow, and a deteriorated balance sheet with slightly negative equity) and bearish technical positioning below major moving averages. The earnings call provides a partial offset with clear near-term breakeven guidance and improving margins/cash burn, but regulatory uncertainty and limited cash keep risk elevated, while valuation lacks support given negative earnings and no dividend.
Positive Factors
High gross margins
Sustained ~70%+ gross margins reflect a capital-light, high-margin product (single-use cartridges) and manufacturing improvements. Durable margin strength supports operating leverage as sales scale, improving the odds of converting modest revenue growth into sustained profitability over 2–6 months.
Negative Factors
Weakened balance sheet
Negative equity and elevated debt materially reduce financial flexibility and raise refinancing risk. Over 2–6 months this constrains the company’s ability to invest in sales capacity or absorb setbacks, increasing likelihood of dilutive financings if operating cash flow does not convert to positive as guided.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained ~70%+ gross margins reflect a capital-light, high-margin product (single-use cartridges) and manufacturing improvements. Durable margin strength supports operating leverage as sales scale, improving the odds of converting modest revenue growth into sustained profitability over 2–6 months.
Read all positive factors
Cytosorbents (CTSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.62M
Dividend YieldN/A
Average Volume (3M)134.35K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth8.64%
EPS Growth-60.99%
CountryUS
Employees129
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.29
Shares Outstanding62,842,747
10 Day Avg. Volume163,660
30 Day Avg. Volume134,354
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)6.74
Price to Sales (P/S)1.07
P/FCF Ratio-3.17
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$0.75Price Target Upside108.33% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$39.37M
Cytosorbents Business Overview & Revenue Model
Company Description
Cytosorbents Corporation specializes in creating and bringing to market innovative medical devices. Their core expertise lies in a unique blood purification platform, built upon a proprietary adsorbent and porous polymer technology. The company's ...
How the Company Makes Money
Cytosorbents primarily makes money by selling its blood purification cartridges and related therapy products to hospitals and healthcare providers, with revenue recognized from product sales. The company’s key commercial revenue stream is CytoSorb...
Cytosorbents Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The call presented a balanced mix of operational progress and material challenges. Positives include stable revenue (~$9.6M), improved gross margin (73%), reduced operating loss (down ~27%), meaningful adjusted metric improvements (adjusted EBITDA loss down ~38%), lower cash burn (net operating burn ~ $200k excluding restructuring) and encouraging safety/efficacy signals and regulatory engagement for DrugSorb-ATR (publication, safety profile, significant subset results and a defined FDA path). Offsetting these are the missed primary efficacy endpoint in the mITT population, the FDA's prior de novo denial (appeal upheld) requiring additional mechanistic and RWE data, protocol imbalances in STAR-T that complicate interpretation, market headwinds in Germany and the Middle East, a modest cash balance (~$5.9M) and continued net losses. Given the meaningful operational and clinical positives tempered by substantive regulatory, clinical robustness and funding risks, the overall tone is balanced.Positive Updates
Stable Revenue with Sequential Growth
Revenue of ~$9.6M in Q2 FY2026, essentially flat year-over-year and up ~9% sequentially from Q1. Distributor and strategic partner territories grew ~16% year-over-year (and ~18% sequentially); direct sales outside Germany up ~9% year-over-year. Foreign currency tailwind contributed ~+4% to revenue versus prior year.
Negative Updates
Missed Primary Efficacy Endpoint in mITT Population
The STAR-T trial did not achieve statistical significance for the primary efficacy endpoint in the modified intent-to-treat (mITT) population (132 patients), requiring reliance on subset (CABG per-protocol) analyses for positive signals.
Read all updates
Q2-2026 Updates
Positive
Negative
Stable Revenue with Sequential Growth
Revenue of ~$9.6M in Q2 FY2026, essentially flat year-over-year and up ~9% sequentially from Q1. Distributor and strategic partner territories grew ~16% year-over-year (and ~18% sequentially); direct sales outside Germany up ~9% year-over-year. Foreign currency tailwind contributed ~+4% to revenue versus prior year.
Read all positive updates
Company Guidance
Management guided that it expects to achieve operating cash‑flow breakeven in the second half of 2026, supported by Q2 results of ~$9.6M revenue (up 9% sequentially), 73% gross margin (vs 69% in Q1), a 27% reduction in operating loss to $2.6M, a 38% improvement in adjusted EBITDA loss to $1.6M, an adjusted net loss improvement of 22% to $2.9M ($0.05/sh), and materially lower cash burn (Q2 cash burn $400k including ~$200k restructuring, or ~ $200k net operating burn), with total cash of ~$5.9M at 6/30/26; operational actions include adding 3–5 sales reps through early‑2027 and continuing distributor expansion (distributor territories +16% YoY, direct sales outside Germany +9% YoY) to drive growth. For DrugSorb‑ATR the company reiterated plans to pursue a new de‑novo submission (after pre‑submission meetings later this month) using additional mechanistic data plus real‑world evidence rather than a new pivotal trial, citing STAR‑T trial toplines (140 randomized, mITT 132, CABG per‑protocol 111; win ratio 1.59 for severe bleeding, 58% relative risk reduction / 16.3% absolute reduction, NNT=6) and two FDA Breakthrough designations; HemoDefend‑BGA progress (>$16M non‑dilutive DoD funding, 15‑minute cartridge processing, >1 year shelf life) was also highlighted as a near‑term strategic value driver over the next 6–18 months.Cytosorbents Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
18
Very Negative
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.22M | 37.06M | 35.59M | 31.08M | 34.69M | 40.11M |
| Gross Profit | 26.65M | 26.49M | 24.89M | 21.95M | 20.73M | 29.06M |
| EBITDA | -14.14M | -4.36M | -19.27M | -27.88M | -30.00M | -24.17M |
| Net Income | -18.21M | -8.20M | -20.72M | -29.25M | -32.81M | -24.56M |
Balance Sheet | ||||||
| Total Assets | 37.96M | 44.18M | 47.37M | 53.26M | 63.23M | 89.52M |
| Cash, Cash Equivalents and Short-Term Investments | 4.41M | 6.25M | 3.28M | 14.13M | 22.14M | 52.14M |
| Total Debt | 26.33M | 29.11M | 26.89M | 18.31M | 18.25M | 13.82M |
| Total Liabilities | 38.71M | 38.28M | 36.26M | 29.99M | 27.86M | 26.94M |
| Stockholders Equity | -751.00K | 5.90M | 11.11M | 23.28M | 35.37M | 62.58M |
Cash Flow | ||||||
| Free Cash Flow | -10.42M | -12.54M | -14.71M | -22.59M | -34.69M | -18.29M |
| Operating Cash Flow | -10.31M | -12.38M | -14.43M | -21.66M | -28.23M | -14.01M |
| Investing Cash Flow | -321.00K | -415.00K | -669.43K | -936.24K | -6.46M | -4.28M |
| Financing Cash Flow | 2.48M | 9.31M | 9.33M | 14.47M | 4.96M | 715.20K |
Cytosorbents Technical Analysis
Negative
0.36
Price Trends
0.41
Negative
0.50
Negative
0.60
Negative
Market Momentum
-0.01
Negative
43.87
Neutral
60.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTSO, the sentiment is Negative. The current price of 0.36 is below the 20-day moving average (MA) of 0.37, below the 50-day MA of 0.41, and below the 200-day MA of 0.60, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 43.87 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CTSO.
Cytosorbents Risk Analysis
Cytosorbents disclosed 39 risk factors in its most recent earnings report. Cytosorbents reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cytosorbents Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $55.69M | -3.31 | 179.24% | ― | -44.27% | -0.39% | |
47 Neutral | $22.62M | -1.25 | -165.13% | ― | 8.64% | -60.99% | |
47 Neutral | $38.94M | -1.10 | -1344.47% | ― | 13.48% | 43.42% | |
46 Neutral | $72.94M | -4.76 | 524.69% | ― | 33.45% | 0.24% | |
45 Neutral | $8.64M | -0.44 | -211.73% | ― | 8.92% | 17.50% | |
44 Neutral | $51.49M | -1.24 | -81.48% | ― | ― | ― |
* Healthcare Sector Average
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Cytosorbents Corporate Events
Business Operations and StrategyFinancial Disclosures
Cytosorbents Advances Toward Operating Cash Flow Breakeven
Positive
Aug 7, 2026
On August 6, 2026, CytoSorbents reported Q2 2026 revenue of $9.6 million and trailing 12-month core CytoSorb product sales of $37.3 million, supported by strong gross margins of 73% and minimal operating cash burn of about $200,000 excluding restr...
Delistings and Listing ChangesRegulatory Filings and Compliance
Cytosorbents Faces Nasdaq Compliance and Delisting Risk
Negative
Jul 6, 2026
On June 29, 2026, CytoSorbents Corporation received a notice from Nasdaq that it was out of compliance with Listing Rule 5550(b)(2), as its market value of listed securities had fallen below the $35 million threshold required for continued listing...
Business Operations and StrategyRegulatory Filings and Compliance
CytoSorbents Advances FDA Pathway for DrugSorb Programs
Positive
Jun 25, 2026
On June 24, 2026, CytoSorbents presented at the 2026 Life Sciences Forum and disclosed that it has scheduled two FDA pre-submission meetings in August 2026 to discuss its ticagrelor and direct oral anticoagulant programs, a key step toward potenti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.