This page shows Cytosorbents Corp (CTSO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 29 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cytosorbents Corp has an operating margin of -39.8%, meaning the company retains $-40 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -47.2% the prior year.
Cytosorbents Corp's revenue grew a modest 4.1% year-over-year to $37.1M. This slow but positive growth earns a score of 40/100.
Cytosorbents Corp has a moderate D/E ratio of 2.82. This balance of debt and equity financing earns a leverage score of 44/100.
Cytosorbents Corp's current ratio of 2.13 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.
While Cytosorbents Corp generated -$12.4M in operating cash flow, capex of $164K consumed most of it, leaving -$12.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Cytosorbents Corp generates a -138.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -186.5% the prior year.
Cytosorbents Corp passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Cytosorbents Corp generates $1.51 in operating cash flow (-$12.4M OCF vs -$8.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Cytosorbents Corp generated $37.1M in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.
Cytosorbents Corp's EBITDA was -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.2% from the prior year.
Cytosorbents Corp reported -$8.2M in net income in fiscal year 2025. This represents an increase of 60.4% from the prior year.
Cytosorbents Corp earned $-0.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 65.8% from the prior year.
Cash & Balance Sheet
Cytosorbents Corp generated -$12.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.8% from the prior year.
Cytosorbents Corp held $6.2M in cash against $16.7M in long-term debt as of fiscal year 2025.
Cytosorbents Corp had 63M shares outstanding in fiscal year 2025. This represents an increase of 14.4% from the prior year.
Margins & Returns
Cytosorbents Corp's gross margin was 71.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.
Cytosorbents Corp's operating margin was -39.8% in fiscal year 2025, reflecting core business profitability. This is up 7.4 percentage points from the prior year.
Cytosorbents Corp's net profit margin was -22.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 36.1 percentage points from the prior year.
Cytosorbents Corp's ROE was -138.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 47.7 percentage points from the prior year.
Capital Allocation
Cytosorbents Corp invested $3.4M in research and development in fiscal year 2025.
Cytosorbents Corp invested $164K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 42.3% from the prior year.
CTSO Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5M-1.4% | $9.6M+10.2% | $8.7M-4.6% | $9.2M+6.2% | $8.6M-2.6% | $8.8M-1.6% | $9.0M+3.7% | $8.7M |
| Cost of Revenue | $2.8M+0.6% | $2.8M+11.2% | $2.5M-5.2% | $2.7M-20.9% | $3.4M+43.5% | $2.3M+10.5% | $2.1M | N/A |
| Gross Profit | $6.7M-2.2% | $6.8M+9.8% | $6.2M-4.4% | $6.5M+23.5% | $5.3M-19.2% | $6.5M-5.4% | $6.9M+29.4% | $5.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | $1.9M+21.8% | $1.5M-32.4% | $2.2M | N/A |
| SG&A Expenses | $8.6M-6.1% | $9.2M+8.7% | $8.4M-5.2% | $8.9M+7.7% | $8.3M-3.4% | $8.6M-7.9% | $9.3M | N/A |
| Operating Income | -$2.9M+20.8% | -$3.6M+7.0% | -$3.9M-4.2% | -$3.7M+22.8% | -$4.8M-35.3% | -$3.6M+23.3% | -$4.7M+50.5% | -$9.4M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$401K | N/A | $0 | N/A | $0 | N/A | $0 | N/A |
| Net Income | -$3.2M-262.8% | $1.9M+231.7% | -$1.5M+80.5% | -$7.6M-173.4% | -$2.8M+35.5% | -$4.3M+29.5% | -$6.1M-4.3% | -$5.8M |
| EPS (Diluted) | $-0.05-266.7% | $0.03+250.0% | $-0.02 | N/A | $-0.05+37.5% | $-0.08+27.3% | $-0.11+8.3% | $-0.12 |
CTSO Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $45.8M-4.7% | $48.0M-5.5% | $50.8M+7.2% | $47.4M-0.9% | $47.8M-10.5% | $53.4M+13.5% | $47.1M-11.1% | $53.0M |
| Current Assets | $21.3M-7.3% | $23.0M-9.5% | $25.4M+17.6% | $21.6M+30.2% | $16.6M-24.4% | $22.0M+9.8% | $20.0M-21.3% | $25.4M |
| Cash & Equivalents | $7.5M-26.1% | $10.2M-11.9% | $11.6M+253.3% | $3.3M-42.3% | $5.7M-32.8% | $8.5M-1.7% | $8.6M-39.1% | $14.1M |
| Inventory | $4.0M+7.9% | $3.7M+22.9% | $3.0M+10.4% | $2.7M-15.8% | $3.2M-24.8% | $4.3M+15.5% | $3.7M+10.8% | $3.4M |
| Accounts Receivable | $7.4M-4.1% | $7.7M+0.9% | $7.7M+4.8% | $7.3M+10.4% | $6.6M-15.2% | $7.8M+15.6% | $6.8M+11.7% | $6.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $36.7M+0.9% | $36.4M+0.5% | $36.2M-0.1% | $36.3M+4.6% | $34.7M-3.7% | $36.0M+31.2% | $27.4M-6.9% | $29.5M |
| Current Liabilities | $10.1M+2.7% | $9.8M+1.1% | $9.7M-0.9% | $9.8M+18.6% | $8.3M-14.1% | $9.6M-24.2% | $12.7M-9.3% | $14.0M |
| Long-Term Debt | $14.6M+1.3% | $14.4M+1.3% | $14.2M+1.4% | $14.0M+1.4% | $13.8M+1.0% | $13.7M+609.0% | $1.9M-24.2% | $2.5M |
| Total Equity | $9.0M-22.1% | $11.6M-20.3% | $14.5M+30.9% | $11.1M-17.0% | $13.4M-23.2% | $17.4M-11.2% | $19.6M-16.4% | $23.5M |
| Retained Earnings | -$306.7M-1.0% | -$303.5M+0.6% | -$305.5M-0.5% | -$304.0M-2.6% | -$296.4M-0.9% | -$293.7M-1.5% | -$289.4M-2.1% | -$283.3M |
CTSO Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6M-70.7% | -$1.5M+56.4% | -$3.5M-48.0% | -$2.3M+5.0% | -$2.5M+48.6% | -$4.8M+0.7% | -$4.8M+24.6% | -$6.4M |
| Capital Expenditures | $17K-53.9% | $37K+1638.8% | $2K-96.9% | $69K-54.4% | $152K+753.5% | $18K-60.6% | $45K-52.7% | $95K |
| Free Cash Flow | -$2.6M-67.7% | -$1.5M+55.4% | -$3.5M-43.9% | -$2.4M+7.8% | -$2.6M+45.7% | -$4.8M+1.3% | -$4.9M+25.0% | -$6.5M |
| Investing Cash Flow | $55K+141.7% | -$132K-178.9% | -$47K+62.0% | -$124K+58.4% | -$299K-151.3% | -$119K+6.3% | -$127K+6.6% | -$136K |
| Financing Cash Flow | $0+100.0% | -$1K-100.0% | $6.8M+3998.4% | $167K+268.4% | -$99K-101.0% | $9.8M+1820.1% | -$572K-104.7% | $12.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CTSO Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.3%-0.6pp | 70.9%-0.3pp | 71.1%+0.2pp | 71.0%+10.0pp | 61.0%-12.5pp | 73.6%-2.9pp | 76.5%+15.2pp | 61.3% |
| Operating Margin | -30.2%+7.4pp | -37.6%+7.0pp | -44.5%-3.8pp | -40.8%+15.3pp | -56.1%-15.7pp | -40.4%+11.4pp | -51.8%+56.7pp | -108.5% |
| Net Margin | -33.4%-53.7pp | 20.3%+37.2pp | -16.9%+65.8pp | -82.7%-50.6pp | -32.1%+16.4pp | -48.6%+19.2pp | -67.7%-0.4pp | -67.3% |
| Return on Equity | -35.1%-51.9pp | 16.8%+27.0pp | -10.2%+58.0pp | -68.1%-47.5pp | -20.7%+4.0pp | -24.6%+6.4pp | -31.0%-6.2pp | -24.9% |
| Return on Assets | -6.9%-11.0pp | 4.1%+7.0pp | -2.9%+13.1pp | -16.0%-10.2pp | -5.8%+2.3pp | -8.0%+4.9pp | -12.9%-1.9pp | -11.0% |
| Current Ratio | 2.11-0.2 | 2.34-0.3 | 2.61+0.4 | 2.20+0.2 | 2.00-0.3 | 2.28+0.7 | 1.57-0.2 | 1.81 |
| Debt-to-Equity | 1.61+0.4 | 1.24+0.3 | 0.98-0.3 | 1.26+0.2 | 1.03+0.2 | 0.78+0.7 | 0.100.0 | 0.11 |
| FCF Margin | -27.4%-11.3pp | -16.1%+23.6pp | -39.7%-13.4pp | -26.3%+4.0pp | -30.4%+24.1pp | -54.4%-0.2pp | -54.2%+20.8pp | -75.0% |
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Frequently Asked Questions
What is Cytosorbents Corp's annual revenue?
Cytosorbents Corp (CTSO) reported $37.1M in total revenue for fiscal year 2025. This represents a 4.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cytosorbents Corp's revenue growing?
Cytosorbents Corp (CTSO) revenue grew by 4.1% year-over-year, from $35.6M to $37.1M in fiscal year 2025.
Is Cytosorbents Corp profitable?
No, Cytosorbents Corp (CTSO) reported a net income of -$8.2M in fiscal year 2025, with a net profit margin of -22.1%.
What is Cytosorbents Corp's EBITDA?
Cytosorbents Corp (CTSO) had EBITDA of -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cytosorbents Corp have?
As of fiscal year 2025, Cytosorbents Corp (CTSO) had $6.2M in cash and equivalents against $16.7M in long-term debt.
What is Cytosorbents Corp's gross margin?
Cytosorbents Corp (CTSO) had a gross margin of 71.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cytosorbents Corp's operating margin?
Cytosorbents Corp (CTSO) had an operating margin of -39.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cytosorbents Corp's net profit margin?
Cytosorbents Corp (CTSO) had a net profit margin of -22.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cytosorbents Corp's return on equity (ROE)?
Cytosorbents Corp (CTSO) has a return on equity of -138.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cytosorbents Corp's free cash flow?
Cytosorbents Corp (CTSO) generated -$12.5M in free cash flow during fiscal year 2025. This represents a 14.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cytosorbents Corp's operating cash flow?
Cytosorbents Corp (CTSO) generated -$12.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cytosorbents Corp's total assets?
Cytosorbents Corp (CTSO) had $44.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cytosorbents Corp's capital expenditures?
Cytosorbents Corp (CTSO) invested $164K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cytosorbents Corp spend on research and development?
Cytosorbents Corp (CTSO) invested $3.4M in research and development during fiscal year 2025.
What is Cytosorbents Corp's current ratio?
Cytosorbents Corp (CTSO) had a current ratio of 2.13 as of fiscal year 2025, which is generally considered healthy.
What is Cytosorbents Corp's debt-to-equity ratio?
Cytosorbents Corp (CTSO) had a debt-to-equity ratio of 2.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cytosorbents Corp's return on assets (ROA)?
Cytosorbents Corp (CTSO) had a return on assets of -18.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cytosorbents Corp's cash runway?
Based on fiscal year 2025 data, Cytosorbents Corp (CTSO) had $6.2M in cash against an annual operating cash burn of $12.4M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Cytosorbents Corp's Piotroski F-Score?
Cytosorbents Corp (CTSO) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cytosorbents Corp's earnings high quality?
Cytosorbents Corp (CTSO) has an earnings quality ratio of 1.51x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cytosorbents Corp?
Cytosorbents Corp (CTSO) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.