Cvrx vs Shoulder Innovations
Cvrx is the larger business, with $56.7m of revenue in fiscal 2025 against $47.3m for Shoulder Innovations (1.2 times as much). Shoulder Innovations grew faster (49.6% against 10.4%). Shoulder Innovations kept more of each dollar of sales as profit: a net margin of -85.3% against -94.1%. Shoulder Innovations carries less debt relative to equity (10.6% against 127.1%).
| Latest fiscal year | CvrxCVRX, 2025 | Shoulder InnovationsSI, 2025 |
|---|---|---|
| Revenue | $56.7m | $47.3m |
| Revenue growth | 10.4% | 49.6% |
| Net income | −$53.3m | −$40.4m |
| Operating margin | -90.5% | -55.6% |
| Net margin | -94.1% | -85.3% |
| Return on equity | -96.6% | -93.8% |
| Free cash flow | −$40.8m | −$36.0m |
| Cash | $75.7m | $26.9m |
| Total debt | $50.0m | $14.9m |
| Debt to equity | 127.1% | 10.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 223 | 75 |
| Market value | $36.4m | $405m |
| Price vs our value range | — | — |
| Moat score | 34 (Weak) | — |
| Insider trades, 12 months | 3 buys, 6 sales | 7 buys, 17 sales |