KORU Medical Systems (KRMD) Investor presentation summary

Business overview and market position

• Specializes in large-volume subcutaneous drug delivery, enabling home and clinic-based therapies for chronic conditions.

• Freedom Infusion System serves ~60,000 recurring patients, with 2.7M+ annual infusions and 97% adherence.

• Holds 9 drug clearances across 30+ countries, with products registered in 36 countries.

• Recurring revenue base is strong, with ~75%+ of FY2025 revenue recurring and $41.1M in FY2025 revenue, up 22% year-over-year.

• Expanding beyond immunoglobulin (Ig) therapies through 9 pharma collaborations and pipeline drugs.

Market opportunity and growth drivers

• Large and growing market for subcutaneous (SC) drug delivery, with only 20% SCIg penetration versus IV.

• 95+ new large-volume SC drugs (>10mL) in development, including oncology and non-Ig therapies.

• Strategic pillars: protect and grow domestic core, expand internationally, and enable more drugs for more patients.

• SCIg market growing 8-10% annually, with significant room for further penetration and share gains.

• Entry into oncology infusion market progressing, with successful pilot studies and anticipated FDA submission.

Financial performance and outlook

• FY2025 revenue reached $41.1M, with guidance for 2026 at $47.5M–$50.0M and 15–22% revenue growth.

• Gross margins consistently above 60%, with 1Q26 at 61.5%.

• Operating expenses increased 11% year-over-year, but net loss and cash usage improved significantly.

• Long-term goals include $100M revenue, >65% gross margins, and +20% EBITDA margin.

• Positive adjusted EBITDA and cash flow targeted for 2026.