KORU Medical Systems, Inc. Announces 2024 Q3 Financial Results, Third Consecutive Quarter of Double-Digit 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 third quarter ended September 30, 2024, and raised full year 2024 revenue, gross margin, and year-end cash guidance.Recent HighlightsThird quarter 2024 net revenues of $8.2 million, a 17% increase over the prior year periodCore business (U.S. and International) growth of 11% and novel therapies growth of 276% over the prior year periodGross profit of $5.2 million, a 19% increase over the prior year period, and gross margin of 63%, a 140-basis point improvement over the prior year periodEnding cash balance of $8.8 million and year-to-date cash burn of $2.7 million, a 60% improvement over the prior year periodPresented data at Partnership Opportunities in Drug D
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News
- KORU Medical Systems, Inc. (NASDAQ: KRMD) had its price target raised by analysts at Craig Hallum from $4.00 to $5.00. They now have a "buy" rating on the stock.MarketBeat
- KORU Medical Systems, Inc. (NASDAQ: KRMD) had its price target raised by analysts at Canaccord Genuity Group Inc. from $3.00 to $4.00. They now have a "buy" rating on the stock.MarketBeat
- KORU Medical Systems, Inc. (NASDAQ: KRMD) had its price target raised by analysts at Piper Sandler from $3.00 to $3.50. They now have an "overweight" rating on the stock.MarketBeat
- KORU Medical Systems Inc (KRMD) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ... [Yahoo! Finance]Yahoo! Finance
- KORU Medical Systems to Participate in Upcoming Investor Conferences [Yahoo! Finance]Yahoo! Finance
KRMD
Earnings
- 11/13/24 - Beat
KRMD
Sec Filings
- 11/14/24 - Form SC
- 11/13/24 - Form SC
- 11/13/24 - Form 10-Q
- KRMD's page on the SEC website