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Cytosorbents Corp Financials

CTSO
Source SEC Filings (10-K/10-Q) Updated Mar 30, 2026 Currency USD FYE March

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

Profitability Growth Leverage Liquidity Cash Flow Returns 21 / 100
Financial Profile 21/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

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.

Growth
40

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.

Leverage
44

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.

Liquidity
39

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.

Cash Flow
0

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.

Returns
0

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.

Piotroski F-Score Weak
3/9

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.

Earnings Quality Low Quality
1.51x

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

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Earnings & Revenue

Revenue
$37.1M
YoY+4.1%
5Y CAGR-2.0%
10Y CAGR+22.7%

Cytosorbents Corp generated $37.1M in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.

EBITDA
-$13.5M
YoY+11.2%

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.

Net Income
-$8.2M
YoY+60.4%

Cytosorbents Corp reported -$8.2M in net income in fiscal year 2025. This represents an increase of 60.4% from the prior year.

EPS (Diluted)
$-0.13
YoY+65.8%

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

Free Cash Flow
-$12.5M
YoY+14.8%

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.

Cash & Debt
$6.2M
YoY+90.5%
5Y CAGR-38.6%
10Y CAGR+1.6%

Cytosorbents Corp held $6.2M in cash against $16.7M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
63M
YoY+14.4%
5Y CAGR+7.7%
10Y CAGR+9.5%

Cytosorbents Corp had 63M shares outstanding in fiscal year 2025. This represents an increase of 14.4% from the prior year.

Margins & Returns

Gross Margin
71.5%
YoY+0.9pp
5Y CAGR-1.6pp
10Y CAGR+17.7pp

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.

Operating Margin
-39.8%
YoY+7.4pp
5Y CAGR-14.5pp
10Y CAGR+154.4pp

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.

Net Margin
-22.1%
YoY+36.1pp
5Y CAGR-3.0pp
10Y CAGR+175.7pp

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.

Return on Equity
-138.9%
YoY+47.7pp
5Y CAGR-129.0pp
10Y CAGR-42.6pp

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

R&D Spending
$3.4M
5Y CAGR-17.5%
10Y CAGR-1.4%

Cytosorbents Corp invested $3.4M in research and development in fiscal year 2025.

Share Buybacks
N/A
Capital Expenditures
$164K
YoY-42.3%
5Y CAGR-25.4%
10Y CAGR-8.6%

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

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.

Cytosorbents Corp (CTSO) revenue grew by 4.1% year-over-year, from $35.6M to $37.1M in fiscal year 2025.

No, Cytosorbents Corp (CTSO) reported a net income of -$8.2M in fiscal year 2025, with a net profit margin of -22.1%.

Cytosorbents Corp (CTSO) reported diluted earnings per share of $-0.13 for fiscal year 2025. This represents a 65.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cytosorbents Corp (CTSO) had EBITDA of -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Cytosorbents Corp (CTSO) had $6.2M in cash and equivalents against $16.7M in long-term debt.

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.

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.

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.

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.

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.

Cytosorbents Corp (CTSO) generated -$12.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Cytosorbents Corp (CTSO) had $44.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Cytosorbents Corp (CTSO) invested $164K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Cytosorbents Corp (CTSO) invested $3.4M in research and development during fiscal year 2025.

Cytosorbents Corp (CTSO) had 63M shares outstanding as of fiscal year 2025.

Cytosorbents Corp (CTSO) had a current ratio of 2.13 as of fiscal year 2025, which is generally considered healthy.

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.

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.

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.

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.

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.

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.

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