Cytosorbents (CTSO) investor relations material

Executive summary

• 2025 revenue reached $37.1 million, up 4% year-over-year, driven by strong international and distributor sales, while German sales declined 10% due to restructuring.

• Gross margin improved to 71% for the year and 74% in Q4, reflecting manufacturing efficiencies.

• Operating loss improved by 10% to $14.7 million; adjusted EBITDA loss improved to $10.5 million; net loss narrowed to $8.2 million.

• Strategic cost reduction and restructuring programs were implemented, including a 10% workforce reduction and a $500,000 restructuring charge in Q4.

• Advanced DrugSorb-ATR regulatory process with the FDA, published positive STAR-T trial results, and launched new innovations (PuriFi pump and HotSwap) to expand product usability.

Financial highlights

• Full year 2025 revenue was $37.1 million, up 4% year-over-year; Q4 revenue was $9.2 million, up 1% year-over-year.

• Direct international sales outside Germany grew 13% to $8.6 million; distributor sales up 11.4% to $16.5 million.

• Operating expenses were $41.2 million for 2025, flat year-over-year.

• Cash, cash equivalents, and restricted cash totaled $7.8 million at year-end, with $2.5 million in new debt proceeds in Q4.

• Adjusted net loss for 2025 was $14.2 million ($0.23/share); Q4 adjusted EBITDA loss was $3.2 million.

Outlook and guidance

• Targeting operating cash flow breakeven in the second half of 2026 as cost reductions and working capital normalization take effect.

• Anticipate gradual and sustained improvement in German sales performance throughout 2026.

• Will provide timing guidance for DrugSorb-ATR FDA resubmission once requirements are finalized; regulatory decision expected within 150 days post-submission.

• Early 2026 indicators show improving commercial activity and new account development.

• Amended credit facility and cost reduction program to support cash flow targets.