$CTSO
Cytosorbents Corp

2023 Q3 Form 10-Q Financial Statement

#000141057823001523 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $8.811M $9.421M
YoY Change 8.62% 10.89%
Cost Of Revenue $3.204M $3.402M
YoY Change -28.7% -4.18%
Gross Profit $5.607M $6.019M
YoY Change 55.0% 21.71%
Gross Profit Margin 63.64% 63.89%
Selling, General & Admin $8.104M $8.888M
YoY Change -7.22% 5.32%
% of Gross Profit 144.54% 147.68%
Research & Development $3.749M $3.669M
YoY Change 13.95% -12.3%
% of Gross Profit 66.87% 60.96%
Depreciation & Amortization $410.0K $402.0K
YoY Change 92.42% 75.71%
% of Gross Profit 7.31% 6.68%
Operating Expenses $12.96M $12.56M
YoY Change 2.55% -5.6%
Operating Profit -$7.350M -$6.538M
YoY Change -18.49% -21.76%
Interest Expense -$33.67K $406.2K
YoY Change -171.88% 1594.2%
% of Operating Profit
Other Income/Expense, Net -$1.843M $0.00
YoY Change -42.1% -100.0%
Pretax Income -$9.194M -$6.153M
YoY Change -24.65% -43.44%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.194M -$6.153M
YoY Change -24.65% -43.44%
Net Earnings / Revenue -104.34% -65.31%
Basic Earnings Per Share -$0.21 -$0.14
Diluted Earnings Per Share -$0.21 -$0.14
COMMON SHARES
Basic Shares Outstanding 44.36M 43.95M
Diluted Shares Outstanding 44.37M 44.02M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.400M $13.15M
YoY Change -62.75% -56.4%
Cash & Equivalents $8.359M $13.15M
Short-Term Investments
Other Short-Term Assets $1.700M $1.422M
YoY Change 28.23% 6.8%
Inventory $2.977M $2.046M
Prepaid Expenses
Receivables $6.179M $7.025M
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.26M $23.64M
YoY Change -40.52% -43.23%
LONG-TERM ASSETS
Property, Plant & Equipment $10.28M $22.84M
YoY Change -4.01% 123.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.149M $5.965M
YoY Change -11.64% 27.75%
Total Long-Term Assets $28.31M $28.80M
YoY Change -5.27% -2.56%
TOTAL ASSETS
Total Short-Term Assets $19.26M $23.64M
Total Long-Term Assets $28.31M $28.80M
Total Assets $47.58M $52.44M
YoY Change -23.6% -26.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.442M $2.836M
YoY Change 46.59% 33.19%
Accrued Expenses $6.100M $5.933M
YoY Change -21.5% -6.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $833.3K
YoY Change
Total Short-Term Liabilities $11.97M $10.35M
YoY Change 18.32% -1.92%
LONG-TERM LIABILITIES
Long-Term Debt $4.199M $5.021M
YoY Change
Other Long-Term Liabilities $12.90M $12.98M
YoY Change -0.84% -0.87%
Total Long-Term Liabilities $4.199M $18.00M
YoY Change -67.72% 37.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.97M $10.35M
Total Long-Term Liabilities $4.199M $18.00M
Total Liabilities $29.06M $28.35M
YoY Change 25.66% 19.9%
SHAREHOLDERS EQUITY
Retained Earnings -$276.7M -$267.5M
YoY Change 9.26% 10.97%
Common Stock $44.44K $44.19K
YoY Change 1.84% 1.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.51M $24.09M
YoY Change
Total Liabilities & Shareholders Equity $47.58M $52.44M
YoY Change -23.6% -26.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$9.194M -$6.153M
YoY Change -24.65% -43.44%
Depreciation, Depletion And Amortization $410.0K $402.0K
YoY Change 92.42% 75.71%
Cash From Operating Activities -$5.210M -$6.933M
YoY Change -22.64% -13.76%
INVESTING ACTIVITIES
Capital Expenditures $260.0K -$140.3K
YoY Change -136.29% -97.01%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$260.0K $140.3K
YoY Change -63.71% -102.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 640.0K 931.1K
YoY Change
NET CHANGE
Cash From Operating Activities -5.210M -6.933M
Cash From Investing Activities -260.0K 140.3K
Cash From Financing Activities 640.0K 931.1K
Net Change In Cash -4.830M -5.862M
YoY Change -35.18% -53.93%
FREE CASH FLOW
Cash From Operating Activities -$5.210M -$6.933M
Capital Expenditures $260.0K -$140.3K
Free Cash Flow -$5.470M -$6.793M
YoY Change -9.11% 102.47%

Facts In Submission

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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
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CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2022Q2 us-gaap Net Income Loss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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us-gaap Net Income Loss
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CY2022Q2 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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ctso Accrued Final Fee
AccruedFinalFee
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ctso Accrued Final Fee
AccruedFinalFee
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ctso Noncash Expense
NoncashExpense
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ctso Noncash Expense
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Impairment Of Intangible Assets Finitelived
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292806
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Operating Assets
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0
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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291068
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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ctso Payments For Equity Contributions Net Of Fees Incurred
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ctso Payments For Equity Contributions Net Of Fees Incurred
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23832026
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53825166
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14838983
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31851514
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
229824
ctso Issuance Of Restricted Stock Units
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ctso Issuance Of Restricted Stock Units
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260235
us-gaap Basis Of Accounting
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 18pt;">1.    BASIS OF PRESENTATION</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The interim consolidated financial statements of CytoSorbents Corporation (the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments, for a fair statement of the Company’s consolidated financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on March 9, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As of June 30, 2023, the Company’s cash and cash equivalents were approximately $13.2 million, and approximately $1.7 million in restricted cash, which is not expected to fund the Company’s operations beyond the next twelve months from the issuance of these consolidated financial statements. This matter raises substantial doubt about the Company’s ability to continue as a going concern. As a result, the accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company expects to raise additional capital in the future.</p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13200000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1700000
ctso Number Of Countries Where Flagship Product Is Marketed And Distributed
NumberOfCountriesWhereFlagshipProductIsMarketedAndDistributed
75
CY2022Q2 ctso Number Of Healthcare Facilities
NumberOfHealthcareFacilities
170
CY2022Q2 ctso Number Of States Across Healthcare Facilities
NumberOfStatesAcrossHealthcareFacilities
14
CY2023Q2 ctso Number Of Patents United States
NumberOfPatentsUnitedStates
19
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2023Q2 ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
415000
CY2022Q2 ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
-2523000
ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
1076000
ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
-3736000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13151524
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22144567
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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1687459
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14838983
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23832026
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1687459
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
66000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
76000
CY2023Q2 us-gaap Inventory Finished Goods
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949296
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
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CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
613347
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
21000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
293000
CY2022Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
126000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
431000
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
38000
CY2022Q2 us-gaap Advertising Expense
AdvertisingExpense
115000
us-gaap Advertising Expense
AdvertisingExpense
93000
us-gaap Advertising Expense
AdvertisingExpense
196000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets, liabilities at the date of the balance sheet, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The valuation of options granted, allowance for doubtful accounts and recoverability of patents are significant estimates in these consolidated financial statements.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). Beginning in April of 2023, the Company joined the IntraFi network, and established an Insured Cash Sweep (“ICS”) account whereby all cash that was previously held in the Company’s money market account at Bridge Bank is swept daily in increments of less than $250,000 and deposited in a number of IntraFi’s 4,000 member banks. This arrangement provides FDIC insurance coverage for all of the cash balances previously held in the money market account, which represents all of the cash and cash equivalents held at Bridge Bank. This arrangement excludes the restricted cash balances. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">A significant portion of the Company’s revenues are from product sales in Germany. Substantially all of the Company’s grant and other income are from government agencies in the United States. (See Note 4 for further information relating to the Company’s revenue.)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of June 30, 2023, two distributors accounted for approximately 36% of outstanding grants and accounts receivable. As of December 31, 2022, two distributors accounted for approximately 27% of outstanding grants and accounts receivables. For the three months and six months ended June 30, 2023, one distributor accounted for approximately 12% and 11%, respectively, of the Company’s total revenue and for the three and  six months ended June 30, 2022, no distributor accounted for more than 10% of the Company’s total revenue. </p>
ctso Number Of Member Bank
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4000
CY2023Q2 ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.12
ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.11
CY2022Q2 ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.10
ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.10
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
200000
us-gaap Cost Of Goods And Services Sold
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87000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
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CY2021Q3 ctso Aggregate Registered Amount For Offerings
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1549000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9474824
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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4.66
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
154000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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398517
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
332405
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
4.95
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.65
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8823509
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y11M1D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.706
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
3.59
CY2023Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
5236485
CY2023Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
6.14
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
921086
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
4851739
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.84
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
154000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.84
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
398517
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.52
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1020198
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.79
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
3587024
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.61
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3188000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P44M
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9420821
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18870317
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
17186982
ctso Number Of Primary Revenue Streams
NumberOfPrimaryRevenueStreams
2
ctso Term Of Customer Contracts
TermOfCustomerContracts
P3Y
CY2023Q2 us-gaap Contract With Customer Asset Net Current
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4755150
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
3822452
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
1581649
CY2022Q4 us-gaap Deferred Revenue
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1682837
CY2023Q2 ctso Contract With Customer Liability Value Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityValueOfFreeOfChargeGoodsAndCreditRebatesCurrent
145370
CY2022Q4 ctso Contract With Customer Liability Value Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityValueOfFreeOfChargeGoodsAndCreditRebatesCurrent
166065
CY2023Q2 ctso Contract With Customer Liability Net Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityNetOfFreeOfChargeGoodsAndCreditRebatesCurrent
1436279
CY2022Q4 ctso Contract With Customer Liability Net Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityNetOfFreeOfChargeGoodsAndCreditRebatesCurrent
1516772
ctso Debt Instrument Non Refundable Fee Upon Termination Or Maturity Percent
DebtInstrumentNonRefundableFeeUponTerminationOrMaturityPercent
0.025
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5000000
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
21429
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
5021429
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5021429
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3333337
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1666663
CY2023Q2 ctso Long Term Debt And Final Fee
LongTermDebtAndFinalFee
5000000
CY2021Q4 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
598000
ctso Executive Employment Agreements Initial Term
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P3Y
ctso Employment Agreements Automatic Renewal Period
EmploymentAgreementsAutomaticRenewalPeriod
P1Y
ctso Employment Agreements Automatic Renewed Period
EmploymentAgreementsAutomaticRenewedPeriod
P1Y
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
280000
ctso Royalty Payments For Interest
RoyaltyPaymentsForInterest
0.009
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.098
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12333970
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12603901
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13091894
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
13250944
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114382
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
108939
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12977512
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13142005
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1285373
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1676044
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1715575
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1756193
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1797927
CY2023Q2 ctso Lessee Operating Lease Liability Payments Due Year Five And After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
16328084
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24559196
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11467302
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13091894
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
466000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
685000
us-gaap Operating Lease Payments
OperatingLeasePayments
1099000
us-gaap Operating Lease Payments
OperatingLeasePayments
1398000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y1M6D

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