KORU Medical Systems, Inc. KRMD
KORU Medical develops, manufactures and commercializes innovative and patient-centric
large volume subcutaneous infusion solutions primarily for the subcutaneous drug delivery market as governed by the United States Food
and Drug Administration (the "FDA") quality and regulatory system and international standards for quality system management.
Our focus is primarily concentrated on our mechanical infusion products, the FREEDOM Infusion Systems (which we refer to as the "FREEDOM
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.1M | $33.6M | $28.5M | $27.9M | $23.5M | $24.2M | $23.2M | $17.4M | — | $12.3M |
| Cost of revenue | $15.5M | $12.3M | $11.8M | $12.5M | $9.7M | $9.2M | $8.3M | $6.5M | — | $4.7M |
| Gross profit | $25.6M | $21.3M | $16.7M | $15.4M | $13.8M | $14.9M | $14.9M | $10.8M | — | $7.6M |
| R&D | $4.4M | $5.3M | $5.7M | $5.0M | $2.5M | $1.3M | $740.5K | $241.1K | — | $237.5K |
| SG&A | $23.4M | $21.6M | $20.4M | $20.6M | $17.9M | $12.0M | $9.8M | $8.2M | — | $7.8M |
| Total operating expenses | $28.6M | $27.8M | $27.0M | $26.1M | $20.8M | $16.2M | $14.3M | $9.6M | — | $8.3M |
| Operating income | -$3.0M | -$6.4M | -$10.3M | -$10.8M | -$7.0M | -$1.3M | $585.7K | $1.2M | — | -$736.3K |
| Interest expense | — | — | — | — | — | — | — | — | — | $1.9K |
| Pre-tax income | -$2.6M | -$6.1M | -$9.8M | -$10.7M | -$6.4M | $1.2M | $696.4K | $1.2M | — | -$776.7K |
| Income tax | $21.9K | $2.9K | $4.0M | $2.0M | $1.8M | $17.8K | $132.1K | $266.4K | — | $241.7K |
| Net income | -$2.6M | -$6.1M | -$13.7M | -$8.7M | -$4.6M | -$1.2M | $564.3K | $910.6K | — | -$535.0K |
| EPS, basic | -0.06 | -0.13 | -0.30 | -0.19 | -0.10 | -0.03 | 0.01 | 0.02 | — | -0.01 |
| EPS, diluted | -0.06 | -0.13 | -0.30 | -0.19 | -0.10 | -0.03 | 0.01 | 0.02 | — | -0.01 |
| Shares, diluted (wtd. avg.) | $46.2M | $45.8M | $45.6M | $45.0M | $44.4M | $41.9M | $39.1M | $38.9M | — | $37.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.9M | $9.6M | $11.5M | $17.4M | $25.3M | $27.3M | $5.9M | $3.7M | $4.0M | $3.3M |
| Receivables | $6.2M | $5.7M | $4.0M | $3.6M | $3.6M | $2.6M | $3.2M | $1.4M | $1.9M | $1.5M |
| Inventory | $3.7M | $2.8M | $3.5M | $6.4M | $6.1M | $6.8M | $2.4M | $2.1M | $1.7M | $1.4M |
| Total current assets | $20.0M | $19.1M | $20.3M | $29.8M | $37.3M | $37.5M | $11.9M | $9.0M | $7.9M | $6.8M |
| Property, plant and equipment | $4.5M | $4.3M | $3.8M | $3.9M | $1.1M | $1.2M | $611.8K | $858.8K | $836.3K | $932.1K |
| Other intangibles | $684.8K | $730.3K | $754.4K | $787.2K | $808.8K | $843.6K | $807.1K | $632.2K | $483.8K | $426.9K |
| Total assets | $28.2M | $27.2M | $28.5M | $42.3M | $41.3M | $39.9M | $13.9M | $10.5M | $9.3M | $8.2M |
| Accounts payable | $2.3M | $1.6M | $975.2K | $2.4M | $1.2M | $624.9K | $572.7K | $453.5K | $454.4K | $772.4K |
| Total current liabilities | $8.2M | $7.2M | $4.5M | $7.0M | $4.8M | $3.7M | $2.4M | $1.6M | $1.6M | $1.4M |
| Total liabilities | $11.2M | $10.4M | $8.1M | $11.0M | $4.8M | $3.8M | $2.6M | $1.6M | $1.6M | $1.5M |
| Retained earnings | -$32.0M | -$29.4M | -$23.3M | -$9.6M | -$910.1K | $3.7M | $4.9M | $4.3M | $3.4M | $2.5M |
| Total equity | $17.0M | $16.8M | $20.4M | $31.3M | $36.5M | $36.2M | $11.2M | $9.0M | $7.7M | $6.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $462.4K | -$319.7K | -$4.9M | -$5.4M | -$4.3M | -$743.3K | $320.6K | $1.5M | — | -$331.6K |
| Depreciation and amortisation | $810.5K | $888.5K | $870.4K | $587.1K | $463.1K | $418.6K | $340.2K | $309.3K | — | $300.6K |
| Stock-based compensation | $2.7M | $2.6M | $2.8M | $3.1M | $2.7M | $1.6M | $1.2M | $366.1K | — | $205.5K |
| Capital expenditure | $932.5K | $1.3M | $782.9K | $2.8M | $346.2K | $920.6K | $201.2K | $297.0K | — | $203.1K |
| Investing cash flow | -$949.8K | -$1.3M | -$814.6K | -$2.8M | -$366.2K | -$1.0M | $1.3M | -$1.7M | — | -$416.3K |
| Financing cash flow | -$221.3K | -$248.5K | -$218.9K | $279.5K | $2.7M | $23.2M | $501.3K | $14.4K | — | -$140.7K |
| Buybacks | — | — | — | — | — | — | $2.8K | — | — | $97.3K |
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 0001161697-26-000091.
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