SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
Jun. 30, 2026
SIGNIFICANT ACCOUNTING POLICIES
Basis of Consolidation and Foreign Currency Translation	Basis of Consolidation and Foreign Currency Translation The condensed consolidated financial statements include the accounts of CytoSorbents Corporation and its wholly owned subsidiaries, CytoSorbents Medical, Inc. and CytoSorbents Europe GmbH. In addition, the condensed consolidated financial statements include CytoSorbents Switzerland GmbH, CytoSorbents Poland Sp. z.o.o., CytoSorbents Medical UK Limited and CytoSorbents France SAS, wholly owned subsidiaries of CytoSorbents Europe GmbH, and CytoSorbents UK Limited, CytoSorbents India Private Limited, CytoSorbents Medical Canada, Inc., and CytoSorbents MEA FZCO, wholly owned subsidiaries of CytoSorbents Medical, Inc. All significant intercompany transactions and balances have been eliminated in consolidation. Sales and expenses denominated in foreign currencies are translated at average exchange rates in effect throughout the year. Assets and liabilities of foreign operations are translated at period-end exchange rates with the impacts of foreign currency translation recorded in cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Foreign currency transactions gains and losses are included in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss.
Loss on Abandoned Patents	Loss on Abandoned Patents During the three months ended June 30, 2026 and 2025, the Company recorded immaterial non-cash losses related to abandoned patents. During the six months ended June 30, 2026 and 2025, the Company recorded non-cash charges of approximately $0.3 million and less than $0.1 million, respectively, related to the abandonment of certain pending patent applications in specific jurisdictions and the write-off of certain pending patent application costs in the ordinary course of business. These charges are included in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss.
Income Taxes	Income Taxes The Company has not recorded income tax expense or income tax benefit for the three months ended June 30, 2026 and 2025 due to the generation of net operating losses, the benefits of which have been fully reserved. Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that a future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section 382 as a result of changes in ownership. The Company follows accounting standards associated with uncertain tax positions. The Company files tax returns in the United States federal and state, and international jurisdictions. The Company utilizes the New Jersey Technology Business Tax Certificate Program (the “Program”) whereby the State of New Jersey allows the Company to sell a portion of its state net operating losses and research and development (“R&D”) credits to a third party. The Company received $0.4 million from the Program in March of 2026 resulting from the sale of 2024 net operating losses and R&D credits. The Company received $1.7 million from the Program in April of 2025 resulting from the sale of 2023 and amended 2022 net operating losses and R&D credits.
Concentration of Credit Risk	Concentration of Credit Risk The Company maintains cash balances with financial institutions, at times, in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”) up to a $250,000 limit. Through the IntraFi Network, the Company maintains an Insured Cash Sweep account whereby all cash held in the Company’s money market accounts is swept daily in increments of less than the FDIC insurance limit and deposited in a number of IntraFi’s network of 3,000 financial institutions. This arrangement provides FDIC insurance coverage for all of the cash balances held in the money market accounts. 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. Product sales in Germany represented approximately 26% and 35% of the Company’s revenues for the three months June 30, 2026 and 2025, respectively; and 28% and 34% for the six months ended June 30, 2026 and 2025, respectively. See Note 5, “Revenue”, for additional information relating to the Company’s revenue. The Company does not have any significant concentration of risk with respect to any one particular supplier. As of June 30, 2026, each of distributor A, distributor B and distributor C accounted for approximately 18%, 18% and 12%, respectively, of the Company’s outstanding accounts receivable. As of December 31, 2025, one distributor accounted for approximately 17% of the Company’s outstanding accounts receivable. For the three months ended June 30, 2026, each of distributor A and distributor B accounted for approximately 15% and 13%, respectively, of the Company’s revenue. For the six months ended June 30, 2026, distributor B accounted for approximately 13% of the Company’s revenue. For the three and six months ended June 30, 2025, no distributor or direct customer accounted for more than 10% of the Company’s revenue.
Shipping and Handling Costs	Shipping and Handling Costs Total freight costs amounted to approximately $0.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and $0.2 million and $0.3 million for the six months ended June 30, 2026 and 2025, respectively.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2026

Basis of Consolidation and Foreign Currency Translation

The condensed consolidated financial statements include the accounts of CytoSorbents Corporation and its wholly owned subsidiaries, CytoSorbents Medical, Inc. and CytoSorbents Europe GmbH. In addition, the condensed consolidated financial statements include CytoSorbents Switzerland GmbH, CytoSorbents Poland Sp. z.o.o., CytoSorbents Medical UK Limited and CytoSorbents France SAS, wholly owned subsidiaries of CytoSorbents Europe GmbH, and CytoSorbents UK Limited, CytoSorbents India Private Limited, CytoSorbents Medical Canada, Inc., and CytoSorbents MEA FZCO, wholly owned subsidiaries of CytoSorbents Medical, Inc. All significant intercompany transactions and balances have been eliminated in consolidation.

Sales and expenses denominated in foreign currencies are translated at average exchange rates in effect throughout the year. Assets and liabilities of foreign operations are translated at period-end exchange rates with the impacts of foreign currency translation recorded in cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Foreign currency transactions gains and losses are included in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss.

Loss on Abandoned Patents

During the three months ended June 30, 2026 and 2025, the Company recorded immaterial non-cash losses related to abandoned patents. During the six months ended June 30, 2026 and 2025, the Company recorded non-cash charges of approximately $0.3 million and less than $0.1 million, respectively, related to the abandonment of certain pending patent applications in specific jurisdictions and the write-off of certain pending patent application costs in the ordinary course of business. These charges are included in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss.

Income Taxes

The Company has not recorded income tax expense or income tax benefit for the three months ended June 30, 2026 and 2025 due to the generation of net operating losses, the benefits of which have been fully reserved.

Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that a future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section 382 as a result of changes in ownership.

The Company follows accounting standards associated with uncertain tax positions. The Company files tax returns in the United States federal and state, and international jurisdictions.

The Company utilizes the New Jersey Technology Business Tax Certificate Program (the “Program”) whereby the State of New Jersey allows the Company to sell a portion of its state net operating losses and research and development (“R&D”) credits to a third party. The Company received $0.4 million from the Program in March of 2026 resulting from the sale of 2024 net operating losses and R&D credits. The Company received $1.7 million from the Program in April of 2025 resulting from the sale of 2023 and amended 2022 net operating losses and R&D credits.

Concentration of Credit Risk

The Company maintains cash balances with financial institutions, at times, in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”) up to a $250,000 limit. Through the IntraFi Network, the Company maintains an Insured Cash Sweep account whereby all cash held in the Company’s money market accounts is swept daily in increments of less than the FDIC insurance limit and deposited in a number of IntraFi’s network of 3,000 financial institutions. This arrangement provides FDIC insurance coverage for all of the cash balances held in the money market accounts. 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.

Product sales in Germany represented approximately 26% and 35% of the Company’s revenues for the three months June 30, 2026 and 2025, respectively; and 28% and 34% for the six months ended June 30, 2026 and 2025, respectively. See Note 5, “Revenue”, for additional information relating to the Company’s revenue.

The Company does not have any significant concentration of risk with respect to any one particular supplier.

As of June 30, 2026, each of distributor A, distributor B and distributor C accounted for approximately 18%, 18% and 12%, respectively, of the Company’s outstanding accounts receivable. As of December 31, 2025, one distributor accounted for approximately 17% of the Company’s outstanding accounts receivable. For the three months ended June 30, 2026, each of distributor A and distributor B accounted for approximately 15% and 13%, respectively, of the Company’s revenue. For the six months ended June 30, 2026, distributor B accounted for approximately 13% of the Company’s revenue. For the three and six months ended June 30, 2025, no distributor or direct customer accounted for more than 10% of the Company’s revenue.

Shipping and Handling Costs

Total freight costs amounted to approximately $0.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and $0.2 million and $0.3 million for the six months ended June 30, 2026 and 2025, respectively.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

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