CVRx, Inc. provided preliminary unaudited revenue guidance for the fourth quarter and full year of 2022 and provides revenue guidance for the first quarter and full year of 2023. For the fourth quarter of 2022, the company expects total revenue to be in the range of approximately $7.0 million to $7.1 million, representing an increase of approximately 91% to 94% over fourth quarter 2021 revenue of $3.66 million. Total revenue generated is expected to be made up of approximately $5.9 million in U.S. heart failure revenue, $1.2 million in European revenue and $26,000 in U.S. legacy revenue.
For the full year of 2022, the company expects total revenue to be in the range of approximately $22.3 million to $22.4 million, representing an increase of approximately 71% to 72% over full year 2021 revenue of $13.04 million. Total revenue generated is expected to be made up of approximately $17.5 million in U.S. heart failure revenue, $4.4 million in European revenue and $0.45 million in U.S. legacy revenue.
For the first quarter of 2023, the company expects total revenue to be between $7.1 million to $7.5 million.
For the full year of 2023, the company expects total revenue to be between $35.0 million to $38.0 million.