$CTSO
Cytosorbents Corp

2023 Q4 Form 10-Q Financial Statement

#000141057823002301 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $8.668M $8.811M
YoY Change -7.69% 8.62%
Cost Of Revenue $3.357M $3.204M
YoY Change -7.61% -28.7%
Gross Profit $5.311M $5.607M
YoY Change -7.74% 55.0%
Gross Profit Margin 61.27% 63.64%
Selling, General & Admin $10.10M $8.104M
YoY Change 18.69% -7.22%
% of Gross Profit 190.09% 144.54%
Research & Development $4.097M $3.749M
YoY Change 20.42% 13.95%
% of Gross Profit 77.13% 66.87%
Depreciation & Amortization $394.6K $410.0K
YoY Change 76.8% 92.42%
% of Gross Profit 7.43% 7.31%
Operating Expenses $14.19M $12.96M
YoY Change 19.18% 2.55%
Operating Profit -$8.881M -$7.350M
YoY Change 39.73% -18.49%
Interest Expense $2.631M -$33.67K
YoY Change -42.45% -171.88%
% of Operating Profit
Other Income/Expense, Net $61.75K -$1.843M
YoY Change -183.3% -42.1%
Pretax Income -$6.649M -$9.194M
YoY Change 257.7% -24.65%
Income Tax -$813.7K $0.00
% Of Pretax Income
Net Earnings -$5.835M -$9.194M
YoY Change 661.61% -24.65%
Net Earnings / Revenue -67.31% -104.34%
Basic Earnings Per Share -$0.12 -$0.21
Diluted Earnings Per Share -$0.13 -$0.21
COMMON SHARES
Basic Shares Outstanding 44.44M 44.36M
Diluted Shares Outstanding 44.37M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.13M $8.400M
YoY Change -36.19% -62.75%
Cash & Equivalents $14.13M $8.359M
Short-Term Investments
Other Short-Term Assets $1.834M $1.700M
YoY Change -26.28% 28.23%
Inventory $3.680M $2.977M
Prepaid Expenses
Receivables $6.057M $6.179M
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.70M $19.26M
YoY Change -23.87% -40.52%
LONG-TERM ASSETS
Property, Plant & Equipment $22.12M $10.28M
YoY Change 105.86% -4.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.443M $4.149M
YoY Change 22.65% -11.64%
Total Long-Term Assets $27.56M $28.31M
YoY Change -6.49% -5.27%
TOTAL ASSETS
Total Short-Term Assets $25.70M $19.26M
Total Long-Term Assets $27.56M $28.31M
Total Assets $53.26M $47.58M
YoY Change -15.77% -23.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.802M $3.442M
YoY Change 129.71% 46.59%
Accrued Expenses $6.667M $6.100M
YoY Change 683.73% -21.5%
Deferred Revenue $1.381M
YoY Change -8.96%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $833.3K
YoY Change
Total Short-Term Liabilities $14.55M $11.97M
YoY Change 49.73% 18.32%
LONG-TERM LIABILITIES
Long-Term Debt $2.543M $4.199M
YoY Change -49.14%
Other Long-Term Liabilities $12.90M $12.90M
YoY Change -1.87% -0.84%
Total Long-Term Liabilities $15.44M $4.199M
YoY Change 208.79% -67.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.55M $11.97M
Total Long-Term Liabilities $15.44M $4.199M
Total Liabilities $29.99M $29.06M
YoY Change 7.64% 25.66%
SHAREHOLDERS EQUITY
Retained Earnings -$282.5M -$276.7M
YoY Change 11.22% 9.26%
Common Stock $54.24K $44.44K
YoY Change 24.3% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.28M $18.51M
YoY Change
Total Liabilities & Shareholders Equity $53.26M $47.58M
YoY Change -15.77% -23.6%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$5.835M -$9.194M
YoY Change 661.61% -24.65%
Depreciation, Depletion And Amortization $394.6K $410.0K
YoY Change 76.8% 92.42%
Cash From Operating Activities -$6.407M -$5.210M
YoY Change 19.98% -22.64%
INVESTING ACTIVITIES
Capital Expenditures $135.9K $260.0K
YoY Change -34.04% -136.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$135.9K -$260.0K
YoY Change -34.04% -63.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.21M 640.0K
YoY Change 144.21%
NET CHANGE
Cash From Operating Activities -6.407M -5.210M
Cash From Investing Activities -135.9K -260.0K
Cash From Financing Activities 12.21M 640.0K
Net Change In Cash 5.667M -4.830M
YoY Change -1137.18% -35.18%
FREE CASH FLOW
Cash From Operating Activities -$6.407M -$5.210M
Capital Expenditures $135.9K $260.0K
Free Cash Flow -$6.543M -$5.470M
YoY Change 17.97% -9.11%

Facts In Submission

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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 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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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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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
DepreciationAndAmortization
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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us-gaap Impairment Of Intangible Assets Finitelived
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us-gaap Impairment Of Intangible Assets Finitelived
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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
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Inventories
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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
IncreaseDecreaseInOtherOperatingAssets
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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1047700
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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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
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Intangible Assets
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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 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
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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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 Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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ctso Issuance Of Restricted Stock Units
IssuanceOfRestrictedStockUnits
403941
ctso Issuance Of Restricted Stock Units
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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 nine months ended September 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 0pt 12pt 0pt;">As of September 30, 2023, the Company’s cash and cash equivalents were approximately $10.0 million, including $8.4 million in cash and cash equivalents 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 will need to raise additional capital to support our ongoing operations in the future.</p>
CY2023Q3 ctso Cash And Cash Equivalents Gross Value
CashAndCashEquivalentsGrossValue
10000000.0
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8400000
CY2023Q3 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
CY2023Q3 ctso Number Of Patents United States
NumberOfPatentsUnitedStates
19
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CY2023Q3 ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
-1810000
CY2022Q3 ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
-3230000
ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
-734000
ctso Foreign Currency Transaction Gain Loss Excluding Tax
ForeignCurrencyTransactionGainLossExcludingTax
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8359047
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22144567
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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1687459
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10046506
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23832026
CY2023Q3 us-gaap Restricted Cash Noncurrent
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1687459
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
57000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
447211
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
613347
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
183000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
476000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
431000
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
49000
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
143000
us-gaap Advertising Expense
AdvertisingExpense
143000
us-gaap Advertising Expense
AdvertisingExpense
358000
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Use Of Estimates
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<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 September 30, 2023, one distributor accounted for approximately 26% 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 ended September 30, 2023, no distributor or direct customers accounted for more than 10% of the Company's total revenue and for the nine months ended September 30, 2023, one distributor accounted for approximately 10% of the total revenue. For the three months ended September 30, 2022, one distributor accounted for approximately 16% of the Company's total revenue and for the nine months ended September 30, 2022, no distributor or direct customer accounted for more than 10% of total revenue. </p>
ctso Number Of Member Bank
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4000
CY2023Q3 ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.10
ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.10
CY2022Q3 ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
0.16
ctso Threshold Used For Calculating Concentration Of Risk
ThresholdUsedForCalculatingConcentrationOfRisk
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CY2021Q3 ctso Aggregate Registered Amount For Offerings
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2554000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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9474824
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2583880
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3.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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748381
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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2.96
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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435781
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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5.10
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
2.61
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10790449
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.48
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.709
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
1.88
CY2023Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
5653877
CY2023Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
5.88
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2750
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
2583880
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.36
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
748381
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1550666
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.53
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
5136572
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.88
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
7990000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P41M
us-gaap Stock Option Plan Expense
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196000
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022Q3 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
27681164
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
25298335
ctso Number Of Primary Revenue Streams
NumberOfPrimaryRevenueStreams
2
ctso Term Of Customer Contracts
TermOfCustomerContracts
P3Y
CY2023Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
3822452
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
1628182
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
1682837
CY2023Q3 ctso Contract With Customer Liability Value Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityValueOfFreeOfChargeGoodsAndCreditRebatesCurrent
135410
CY2022Q4 ctso Contract With Customer Liability Value Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityValueOfFreeOfChargeGoodsAndCreditRebatesCurrent
166065
CY2023Q3 ctso Contract With Customer Liability Net Of Free Of Charge Goods And Credit Rebates Current
ContractWithCustomerLiabilityNetOfFreeOfChargeGoodsAndCreditRebatesCurrent
1492772
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
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5000000
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
32143
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
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CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
833333
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4198810
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
833333
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3333334
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
833333
CY2023Q3 ctso Long Term Debt And Final Fee
LongTermDebtAndFinalFee
5000000
ctso Executive Employment Agreements Initial Term
ExecutiveEmploymentAgreementsInitialTerm
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
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.098
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12196049
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12603901
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
13009413
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
13250944
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
117204
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
108939
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12892209
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13142005
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1294887
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1685727
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1725524
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1766415
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1808431
CY2023Q3 ctso Lessee Operating Lease Liability Payments Due Year Five And After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
15875975
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24156959
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11147546
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
13009413
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
633000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
659000
us-gaap Operating Lease Payments
OperatingLeasePayments
1801000
us-gaap Operating Lease Payments
OperatingLeasePayments
2057000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y10M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y1M6D

Files In Submission

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ctso-20230930_cal.xml Edgar Link unprocessable
0001410578-23-002301-index-headers.html Edgar Link pending
0001410578-23-002301-index.html Edgar Link pending
0001410578-23-002301.txt Edgar Link pending
0001410578-23-002301-xbrl.zip Edgar Link pending
ctso-20230930.xsd Edgar Link pending
ctso-20230930x10q.htm Edgar Link pending
ctso-20230930xex31d1.htm Edgar Link pending
ctso-20230930xex31d2.htm Edgar Link pending
ctso-20230930xex32d1.htm Edgar Link pending
ctso-20230930xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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ctso-20230930_def.xml Edgar Link unprocessable
ctso-20230930_lab.xml Edgar Link unprocessable
ctso-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ctso-20230930x10q_htm.xml Edgar Link completed
R8.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending