Last10K.com

Cytosorbents Corp (CTSO) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

Cytosorbents Corp

HISTORY TOOLS
CIK: 1070235 Ticker: CTSO

Exhibit 99.1

 

 

 

 

CytoSorbents Issues Stockholder Letter and Reports Preliminary

Fourth Quarter and Full Year 2022 Revenue

 

Cumulative CytoSorb treatments surpassed 195,000. Q4 2022 product sales rebounded from Q3 2022 low. Adjusted for constant currency, Core non-COVID 2022 product sales were within 5% of that achieved in 2021 and greater than 30% increased from pre-pandemic 2019

 

PRINCETON, N.J., January 31, 2023 — 

CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, issues a stockholder letter from its Chief Executive Officer, Dr. Phillip Chan, and announces preliminary unaudited fourth quarter 2022 and full year 2022 results ahead of filing its Form 10-K.

 

Preliminary Unaudited Full Year 2022 Results

 

·Cumulative CytoSorb treatments delivered exceeded 195,000 at the end of 2022, up 20% from the end of 2021, and marking the 10th year of CytoSorb commercialization

 

·Preliminary unaudited 2022 Total Revenue, which includes Product Sales and Grant Revenue, was approximately $34.7 million versus $43.2 million in 2021, and $24.9 million in pre-pandemic 2019

 

·Overall preliminary unaudited 2022 Product Sales were approximately $29.4 million versus $40.1 million in 2021, which included $0.3 million and $6.3 million in COVID-19 related Product Sales, respectively, and versus $22.8 million in pre-pandemic 2019

 

·2022 Core (non-COVID-19) Product Sales were approximately $29.1 million versus $33.8 million in 2021. This reflects an 11% drop in the average Euro to dollar exchange rate from 1.18 in 2021 to 1.05 in 2022. On a constant currency basis, Core Product Sales would have been approximately $32.2 million versus $33.8 million in 2021, a decrease of 4.6%

 

·Solid cash balance at the end of 2022 of approximately $23.8 million

 

Preliminary Unaudited Q4 2022 Results

 

·Q4 2022 Total Revenue was approximately $9.4 million versus $10.8 million in Q4 2021, and versus $7.4 million in pre-pandemic Q4 2019

 

The following information was filed by Cytosorbents Corp (CTSO) on Wednesday, February 1, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Cytosorbents Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Cytosorbents Corp.

Continue

Assess how Cytosorbents Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Cytosorbents Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Legal
Revenue
Other
Filter Subcategory:
All
Expense
Product
Earnings
Income
Other
Inside Cytosorbents Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Operations And Comprehensive Loss
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Consolidated Loss Before Income Taxes (Details)
Income Taxes - Reconciliation Of Income Tax (Expense) Benefit (Details)
Income Taxes - The Benefit From Income Taxes (Details)
Income Taxes - The Principal Components Of The Company's Deferred Tax Assets And Liabilities (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Maturities Of The Lease Liabilities (Details)
Leases - Right-Of- Use Asset And Related Lease Liability (Details)
Long Term Debt (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Details)
Long-Term Debt - Principal Payments (Details)
Net Loss Per Share
Net Loss Per Share (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Assets - Additional Information (Details)
Principal Business Activity And Summary Of Significant Accounting Policies
Principal Business Activity And Summary Of Significant Accounting Policies (Details)
Principal Business Activity And Summary Of Significant Accounting Policies (Policies)
Principal Business Activity And Summary Of Significant Accounting Policies (Tables)
Principal Business Activity And Summary Of Significant Accounting Policies - Cash And Cash Equivalents (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Quarterly Financial Results (Unaudited)
Quarterly Financial Results (Unaudited) (Details)
Quarterly Financial Results (Unaudited) (Tables)
Retirement Plan
Retirement Plan (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Contract With Customer Asset And Liability (Details)
Revenue - Receivables And Contract Liabilities (Details)
Revenue - Revenue By Customer Type And Geographic Area (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Fair Value Of Stock Option (Details)
Stockholders' Equity - Intrinsic Value (Details)
Stockholders' Equity - Non-Vested Options (Details)
Stockholders' Equity - Restricted Stock Unit (Details)
Stockholders' Equity - Restricted Stock Unit Activity (Details)
Stockholders' Equity - Stock Option Activity (Details)
Stockholders' Equity - Warrants (Details)
Ticker: CTSO
CIK: 1175151
Form Type: 10-K Annual Report
Accession Number: 0001410578-23-000234
Submitted to the SEC: Thu Mar 09 2023 4:47:48 PM EST
Accepted by the SEC: Thu Mar 09 2023
Period: Saturday, December 31, 2022
Industry: Surgical And Medical Instruments And Apparatus

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/ctso/0001410578-23-000234.htm