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KORU Medical Systems (KRMD) investor relations material

KORU Medical Systems Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary12 Nov, 2025

Executive summary

  • Achieved Q3 2025 net revenues of $10.4 million, up 27% year-over-year, driven by strong international core growth and new patient starts, while domestic revenue declined slightly and pharma services revenue was lower.

  • Net loss for Q3 2025 improved to $0.8 million, a 51% reduction year-over-year, with positive adjusted EBITDA of $0.09 million and quarterly cash generation of $0.4 million.

  • Announced two new Pharma Services and Clinical Trials collaborations, expanding reach into new patient populations.

  • Completed oncology pilot site study with 100% administration success and high satisfaction; 510(k) FDA submission planned by end of 2025.

  • Raised full-year 2025 revenue guidance to $40.5–$41.0 million, representing 20–22% growth.

Financial highlights

  • Q3 2025 gross profit was $6.3 million, up 21% year-over-year, with gross margin at 60.2%, down from 63.4% due to higher manufacturing costs, tariffs, and geographic mix.

  • Domestic core revenue declined 5% to $6.1 million, while international core revenue surged 230% to $3.7 million, driven by prefilled conversions and new patient starts.

  • Year-to-date 2025 revenue grew 22% to $30.2 million; net loss narrowed to $2.2 million from $4.5 million; positive adjusted EBITDA achieved.

  • Cash and cash equivalents as of September 30, 2025, were $8.5 million, with quarterly cash generation of $0.4 million.

  • Operating expenses increased 3.5% to $7.1 million, mainly from higher compensation and legal fees, partially offset by lower R&D.

Outlook and guidance

  • Full-year 2025 revenue guidance raised to $40.5–$41.0 million, representing 20–22% growth, with gross margin guidance reiterated at 61–63%.

  • Positive cash flow from operations expected for full year 2025, with year-end cash projected above $8.2 million.

  • 2026 growth expected to remain above 20%, with further acceleration possible from new product launches and international expansion.

  • Operating expenses projected at $26–$27 million, with higher R&D spend in 2H25.

  • Management expects cash on hand and operating cash flows to be sufficient for at least the next twelve months.

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Frequently asked questions

KORU Medical Systems Inc. specializes in developing and manufacturing medical devices for subcutaneous drug delivery. The company’s primary products include infusion systems designed for use in home and alternate care settings, offering patients a convenient and effective way to administer biologics and other medications. KORU Medical serves the pharmaceutical and biotechnology industries, providing solutions that support patient-centric care. The company is headquartered in Mahwah, New Jersey, and its shares are listed on the NASDAQ.

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