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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Non-US
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $30.2M | $27.5M |
| Non-US | $10.9M | $6.1M |
As the company reported it, from the “The following table summarizes net revenues by geography for the years ended December 31, 2025 and 2024: (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.3M | — | $17.4M | $23.2M | $24.2M | $23.5M | $27.9M | $28.5M | $33.6M | $41.1M |
| Gross profit | $7.6M | — | $10.8M | $14.9M | $14.9M | $13.8M | $15.4M | $16.7M | $21.3M | $25.6M |
| Net income | -$535.0K | — | $910.6K | $564.3K | -$1.2M | -$4.6M | -$8.7M | -$13.7M | -$6.1M | -$2.6M |
Recent filings and events
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- 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
- Charter or fiscal year changed Item 5.03
- 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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