KORU Medical Systems, Inc. Announces 2024 Q2 Financial Results, a Record Quarter With 22% Revenue Growth; Raises Full Year 2024 Guidance
KORU Medical Systems, Inc. (KRMD)
Company Research
Source: Business Wire
MAHWAH, N.J.--(BUSINESS WIRE)--KORU Medical Systems, Inc. (NASDAQ: KRMD) (“KORU Medical” or the “Company”), a leading medical technology company focused on development, manufacturing, and commercialization of innovative and patient-centric large volume subcutaneous infusion solutions, today reported financial results for the second quarter ended June 30, 2024 and raised full year 2024 revenue and gross margin guidance.Financial HighlightsSecond quarter 2024 net revenues of $8.4 million, a 22% increase over the prior year with record-high quarterly revenuesCore business (U.S. and International) growth of 20% over the prior year driven by overall SCIg market growth, share gains, and geographic expansionGross profit of $5.5 million, a 41% increase over the prior year, and gross margin of 65%, reflecting year-over-year improvement of 890 basis pointsEnding cash balance of $10.5 million and quarterly cash usage of $0.3 million driven by improved net income, increased operating leverage
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KRMD
News
- Here's Why We're Not At All Concerned With KORU Medical Systems' (NASDAQ:KRMD) Cash Burn Situation [Yahoo! Finance]Yahoo! Finance
- KORU Medical Systems to Participate in the 8th Annual Lake Street Best Ideas Growth ConferenceBusiness Wire
- Analysts Are Updating Their KORU Medical Systems, Inc. (NASDAQ:KRMD) Estimates After Its Second-Quarter Results [Yahoo! Finance]Yahoo! Finance
- KORU Medical Systems, Inc. (NASDAQ: KRMD) had its price target raised by analysts at Piper Sandler from $2.50 to $3.00. They now have an "overweight" rating on the stock.MarketBeat
- KORU Medical Systems, Inc. Announces 2024 Q2 Financial Results, a Record Quarter With 22% Revenue Growth; Raises Full Year 2024 Guidance [Yahoo! Finance]Yahoo! Finance
KRMD
Earnings
- 8/7/24 - Beat
KRMD
Sec Filings
- 8/21/24 - Form 8-K
- 8/7/24 - Form 8-K
- 8/7/24 - Form 10-Q
- KRMD's page on the SEC website