KORU Medical Systems (KRMD) Canaccord Genuity’s 45th Annual Growth Conference summary

Key business highlights

• Servicing over 45,000 patients globally with a recurring revenue base and 70+ patents extending 20 years.

• Cleared in 36 countries, with 75% of revenue recurring and guidance raised to $39.5–$40.5 million for 18–25% growth.

• Achieved first $10 million quarter, 21% overall growth, and 19% domestic growth, driven by prefill conversions.

• International growth contributed 50% of recent gains, with strong expansion in Europe and new market entries in Japan and Canada.

• Pipeline includes 10 new drugs, with four expected to be cleared in the next 6–12 months, targeting a $2 billion addressable market.

Product and market development

• Two mechanical pumps (large and small volume) and consumables enable customizable, easy-to-use home infusions.

• 2 million+ chronic infusions performed, with a 97% adherence rate in a five-year study.

• New products include a flow controller, a globally approved prefill-compatible pump, and a new consumable set for comfort.

• Oncology, nephrology, and gastroenterology are key therapeutic areas for expansion.

• Subcutaneous immunoglobulin market is 20% penetrated, with 53 new drugs in development.

Financial performance and outlook

• Cash balance expected to exceed $8.1 million by year-end, with cash flow positive operations in the second half.

• Gross margin stable despite tariff exposure; OpEx up only 3% versus 19% revenue growth, leading to lower net losses.

• Net loss improved 53% year-over-year; adjusted EBITDA flat in first half, with 101% improvement over last year.

• Sustainable 20%+ growth targeted, with 75% recurring revenue and EBITDA growth expected.

• Guidance viewed as achievable, with potential upside from faster prefill expansion and earlier drug approvals.