Cytosorbents (CTSO) AGM 2026 summary

Opening remarks and agenda

• The meeting was called to order with a welcome to all attendees and an emphasis on inclusivity via the virtual format.

• Legal and procedural matters were addressed, including appointment of the Inspector of Elections and confirmation of quorum.

• Introduction of directors, officers, and the independent public accounting firm.

• The agenda included director elections, executive compensation, auditor ratification, a reverse stock split amendment, and potential adjournment.

Board and executive committee updates

• Directors and officers introduced themselves, highlighting their backgrounds in medicine, finance, and business strategy.

• Board members discussed their roles, committee responsibilities, and commitment to company goals.

• Recognition was given to employees and management for their dedication during a challenging period.

Financial performance review

• Revenue grew 4% to $37.1 million in 2025, with direct sales outside Germany up 13% and distributor sales up 11%.

• Gross margins improved to 71% for 2025 and reached 73% in Q2 2026.

• Operating loss declined by 27%, adjusted EBITDA loss improved by 38%, and operating cash burn reduced to $200,000 (excluding restructuring).

• The company targets operating cash flow breakeven in the second half of 2026.

• Inventory was reduced by 43% through production restructuring and optimization.