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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.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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