KRMD · KORU Medical Systems, Inc.

KORU Medical Systems delivered a strong start to 2026 with Q1 net revenues of $11.8 million, reflecting 22.1% year-over-year growth. This was propelled by 17.8% growth in total core revenues to $11.0 million, with domestic core up 11.7% to $7.7 million due to higher consumable volumes from new patient starts and market share gains in a robust SCIg market, and international core surging 35.2% to $3.3 million from distributor purchases supporting pre-filled syringe conversions in a key EU market. Pharma services and clinical trials revenues exploded 166% to $0.7 million, driven by advancing collaborations. Gross profit rose 19.6% to $7.2 million, though margins dipped slightly to 61.5% from 62.8% due to production cost timing and tariff charges, offset by favorable sales mix. Operating expenses increased 11% to $8.1 million, primarily from higher SG&A legal fees and compensation. Net loss improved 31% to $0.8 million or ($0.02) per share, with adjusted EBITDA nearly breakeven at ($0.01) million. Cash usage was minimal at $0.1 million, ending at $8.8 million. CEO Linda Tharby highlighted core business outperformance and international momentum, while President Adam Kalbermatten noted expansion into new drug categories like oncology. The company reiterated FY2026 guidance for $47.5-50.0 million in revenues (15-22% growth), 61-63% gross margins, and positive adjusted EBITDA and cash flow, signaling confidence in its scalable model and pipeline advancements including a 510(k) submission for deferoxamine and Phase III trial progress.