CorMedix (CRMD) Q2 2026 earnings summary

Executive summary

• Q2 2026 consolidated revenue reached $101.9 million, up 157% year-over-year, driven by strong demand for DefenCath and the Melinta portfolio following the August 2025 acquisition.

• Net income for Q2 2026 was $26.0 million, up 31% year-over-year, with adjusted EBITDA of $58.7 million, reflecting higher sales and expanded product offerings.

• Signed multi-year commercial supply agreements for DefenCath, now covering all top five U.S. dialysis providers.

• Advanced pipeline with positive phase III ReSPECT data for REZZAYO and anticipated sNDA submission for expanded indication.

• Maintained disciplined capital deployment and ongoing integration of Melinta to support growth and business development.

Financial highlights

• Q2 2026 revenue: $101.9 million (up from $39.7 million in Q2 2025); H1 2026 revenue: $229.4 million (up from $78.8 million in H1 2025).

• DefenCath sales: $66.1 million in Q2 2026; Melinta portfolio contributed $35.8 million.

• Net income: $26.0 million ($0.33 basic, $0.29 diluted EPS) in Q2 2026, up from $19.8 million in Q2 2025.

• Adjusted EBITDA: $58.7 million in Q2 2026, up from $22.4 million year-over-year.

• Gross profit for Q2 2026: $77.1 million, up 104% year-over-year.

Outlook and guidance

• Full-year 2026 consolidated revenue guidance reaffirmed at $325–$345 million.

• Full-year adjusted EBITDA guidance raised to $125–$140 million.

• Full-year DefenCath revenue guidance set at $175–$195 million.

• Cash OPEX guidance narrowed to $145–$155 million, excluding non-cash charges.

• Anticipates lower DefenCath net sales in H2 2026 due to CMS reimbursement changes, but expects a potential payment increase in 2027.