CytoSorbents Corporation reported its financial results for the second quarter and first half of 2026, revealing a slight increase in revenue and improvements in operational losses compared to the previous fiscal period. For the three months ended June 30, 2026, the company generated $9.6 million in revenue, a marginal increase from $9.6 million in the same period of 2025. For the six months ended June 30, 2026, total revenue reached $18.5 million, up from $18.3 million year-over-year. The gross profit for the second quarter was $7.0 million, reflecting a gross margin of 73.2%, compared to 70.9% in the prior year.
Despite the revenue growth, CytoSorbents reported a net loss of $4.4 million for the second quarter, compared to a net income of $1.9 million in the same period last year. The loss from operations improved by 27% to approximately $2.6 million for the second quarter, down from $3.6 million in 2025. The company attributed this improvement to enhanced gross margins and a reduction in total operating expenses, which fell by 7.1% due to the implementation of a Strategic Workforce and Cost Reduction Plan that resulted in a 23% reduction in workforce.
Operationally, CytoSorbents continues to focus on expanding its market presence and product adoption. The company has seen increased sales in distributor and strategic partner territories, particularly outside of Germany, although sales in Germany have declined due to a smaller sales force. The company plans to add 3-4 additional sales representatives in Germany in the latter half of 2026 to bolster its market engagement. As of June 30, 2026, the company had approximately 62.8 million shares outstanding and reported total assets of $38.0 million, down from $44.2 million at the end of 2025.
Looking ahead, CytoSorbents is actively pursuing regulatory approval for its DrugSorb-ATR device, which aims to address perioperative bleeding in patients undergoing surgery while on blood thinners. The company expects to submit a new De Novo application to the FDA in early 2027, following a pre-submission meeting scheduled for August 2026. However, the company also noted substantial doubt about its ability to continue as a going concern within the next twelve months, given its current cash position of approximately $5.9 million, which includes $4.4 million in unrestricted cash. The company is exploring various funding options, including equity offerings and debt financing, to support its operations and growth initiatives.
About Cytosorbents Corp
CytoSorbents Corporation specializes in blood purification technologies for critical care, cardiac surgery, and organ transplantation. Its flagship product, CytoSorb, removes inflammatory mediators, toxins, and blood thinners from blood using porous polymer beads. The company develops and markets extracorporeal cartridges and devices globally, targeting high-risk patients with conditions like sepsis, COVID-19, organ failure, and bleeding risks, with a focus on improving clinical outcomes and reducing healthcare costs.
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