CorMedix Inc. CRMD

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

with our wholly owned subsidiaries, referred to herein as "we," "us," "our" or the "Company")

is a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions.

Our primary focus has been commercializing DefenCath® (taurolidine and heparin), in the U.S., which we launched in 2024 in the hemodialysis

setting. The name DefenCath is the U.S. proprietary name approved by the U.S. Food and Drug Administration ("FDA").

Last close 7.85 2026-10-23
Market cap $611.9M 2026-06-30 share count
52-week range 6.12 - 13.02

Valuation FY2025 figures against the last close

P/S2.0x
P/E3.8x
P/FCF3.5x
EV/EBITDA4.1x
Dividend yield—
Diluted EPS2.04

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $311.7M$43.5M—$65.4K$190.9K$239.2K$283.3K$429.8K$329.3K$224.1K
Cost of revenue $22.1M$3.0M—$3.7K$148.9K$204.8K$373.2K$396.8K$115.0K$366.7K
Gross profit $275.7M$40.3M—$61.7K$42.0K$34.4K-$90.0K$33.0K$214.4K-$142.6K
R&D $19.3M$3.9M$13.2M$10.7M$13.1M$13.4M$11.1M$18.8M$24.5M$15.7M
SG&A $68.2M$30.0M$17.7M$20.0M$16.3M$13.9M$9.9M$8.1M$8.7M$8.9M
Total operating expenses $125.6M$62.6M$49.0M$30.7M$29.5M$27.3M$20.9M$26.9M$33.1M$24.6M
Operating income $150.1M-$22.4M-$49.0M-$30.6M-$29.4M-$27.2M-$21.0M-$26.9M-$32.9M-$24.8M
Interest expense $2.8M$36.0K$34.3K$26.5K$15.9K$33.2K$787.5K$1.9K$5.6K$1.3K
Pre-tax income $150.0M-$19.3M-$46.3M-$30.3M-$29.5M-$27.2M-$21.5M-$26.8M-$33.0M-$24.6M
Income tax $13.0M$1.4M—$585.6K$1.3M$5.2M$5.1M———
Net income $163.1M-$17.9M-$46.3M-$29.7M-$28.2M-$22.0M-$16.4M-$26.8M-$33.0M-$24.6M
EPS, basic 2.25-0.30-0.91-0.74-0.75—————
EPS, diluted 2.04-0.30-0.91-0.74-0.75-0.77-1.80-1.51-0.60-0.65
Shares, diluted (wtd. avg.) 80,30858,87250.9M40.3M37.7M—————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $144.8M$40.7M$43.8M$43.4M$53.6M$42.1M$16.5M$17.8M$10.6M$8.2M
Short-term investments $3.7M$11.0M$32.4M$15.6M$12.1M$4.4M$12.0M$0$1.6M$12.1M
Receivables $171.2M$51.7M—————$10.9K$64.1K$12.0K
Inventory $29.7M$7.6M$2.1M—$3.0K$143.6K$338.5K$428.5K$594.2K$166.7K
Total current assets $367.1M$114.6M$79.5M$59.6M$66.5M$48.2M$29.3M$18.7M$13.3M$21.8M
Property, plant and equipment $6.0M$1.8M$1.9M$1.6M$1.5M$111.5K$122.1K$160.9K$186.3K$69.7K
Goodwill $30.0M—————————
Other intangibles $379.1M$1.8M————————
Total assets $826.1M$118.8M$82.1M$62.0M$68.9M$49.3M$29.5M$18.8M$13.5M$21.9M
Accounts payable $7.9M$1.7M$4.3M$2.2M$2.2M$1.1M$1.0M$2.6M$1.8M$1.6M
Total current liabilities $174.3M$33.8M$11.4M$6.3M$5.3M$4.2M$5.8M$7.8M$6.3M$4.1M
Total liabilities $420.8M$34.2M$11.9M$7.0M$6.1M$5.1M$5.8M$13.9M$6.3M$4.1M
Retained earnings -$176.6M-$339.6M-$321.7M-$275.4M-$245.7M-$217.4M-$195.4M-$179.0M-$152.2M-$119.2M
Total equity $405.3M$84.7M$70.1M$55.1M$62.8M$44.2M$23.6M$4.9M$7.2M$17.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $175.0M-$50.6M-$38.4M-$24.4M-$21.2M-$22.0M-$15.1M-$23.7M-$28.6M-$22.3M
Depreciation and amortisation $677.0K$154.0K$70.8K$84.6K$61.9K$128.0K$73.3K$74.2K$36.9K$25.6K
Stock-based compensation $13.8M$6.1M$5.5M$4.1M$5.0M$2.5M$2.4M$1.1M$1.7M$1.3M
Capital expenditure $2.3M$116.0K$327.3K$219.4K$1.4M$112.6K$36.6K$48.9K$152.0K$58.7K
Investing cash flow -$308.4M$21.2M-$17.1M-$3.7M-$9.1M$7.4M-$12.0M$1.6M$10.4M$11.4M
Financing cash flow $238.5M$26.3M$55.9M$17.9M$41.8M$40.1M$25.8M$29.4M$20.5M$7.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-049311.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M 400M Revenue, FY2016: 224.1K Gross profit, FY2016: -142.6K Net income, FY2016: -24.6M Revenue, FY2017: 329.3K Gross profit, FY2017: 214.4K Net income, FY2017: -33M Revenue, FY2018: 429.8K Gross profit, FY2018: 33K Net income, FY2018: -26.8M Revenue, FY2019: 283.3K Gross profit, FY2019: -90K Net income, FY2019: -16.4M Revenue, FY2020: 239.2K Gross profit, FY2020: 34.4K Net income, FY2020: -22M Revenue, FY2021: 190.9K Gross profit, FY2021: 42K Net income, FY2021: -28.2M Revenue, FY2022: 65.4K Gross profit, FY2022: 61.7K Net income, FY2022: -29.7M Net income, FY2023: -46.3M Revenue, FY2024: 43.5M Gross profit, FY2024: 40.3M Net income, FY2024: -17.9M Revenue, FY2025: 311.7M Gross profit, FY2025: 275.7M Net income, FY2025: 163.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $224.1K $329.3K $429.8K $283.3K $239.2K $190.9K $65.4K — $43.5M $311.7M
Gross profit -$142.6K $214.4K $33.0K -$90.0K $34.4K $42.0K $61.7K — $40.3M $275.7M
Net income -$24.6M -$33.0M -$26.8M -$16.4M -$22.0M -$28.2M -$29.7M -$46.3M -$17.9M $163.1M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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