KORU Medical Systems(KRMD)

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KORU Medical Systems(KRMD) - 2023 Q1 - Quarterly Report
2023-05-04 20:15
For the transition period from ________ to ________. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-12305 KORU MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) New York 13-304488 ...
KORU Medical Systems(KRMD) - 2022 Q4 - Earnings Call Transcript
2023-03-09 02:38
KORU Medical Systems, Inc. (NASDAQ:KRMD) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET Company Participants Hannah Jeffrey - Investor Relations Linda Tharby - President and Chief Executive Officer Tom Adams - Interim Chief Financial Officer Conference Call Participants Alex Nowak - Craig-Hallum Caitlin Cronin - Canaccord Genuity Joe Downing - Piper Sandler Operator Greetings and welcome to KORU Medical Systems Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] As ...
KORU Medical Systems(KRMD) - 2022 Q4 - Annual Report
2023-03-08 21:38
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to __________ Commission file number 0-12305 KORU MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) New York 13-3044880 (State or other ...
KORU Medical Systems(KRMD) - 2022 Q3 - Earnings Call Transcript
2022-11-12 22:25
KORU Medical Systems, Inc. (NASDAQ:KRMD) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET Company Participants Hannah Jeffrey - The Gilmartin Group Linda Tharby - President and CEO Tom Adams - Interim Chief Financial Officer Josh Bennett - VP of Strategy and Business Development Conference Call Participants Alexander Nowak - Craig-Hallum Capital Group Caitlin Cronin - Canaccord Genuity Joseph Downing - Piper Sandler Operator Greetings, and welcome to KORU Medical Systems Third Quarter 2022 Ea ...
KORU Medical Systems(KRMD) - 2022 Q3 - Quarterly Report
2022-11-09 21:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 or [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission File Number: 0-12305 KORU MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) New York 13-30 ...
KORU Medical Systems(KRMD) - 2022 Q2 - Earnings Call Transcript
2022-08-07 01:48
KORU Medical Systems, Inc. (NASDAQ:KRMD) Q2 2022 Earnings Conference Call August 3, 2022 4:30 PM ET Company Participants Gregory Chodaczek - Gilmartin Group Linda Tharby - President, CEO & Director Tom Adams - Interim CFO and VP, Financial Planning & Analysis Conference Call Participants Connor Stevenson - Craig-Hallum Gibran Ahmed - Canaccord Jason Bednar - Piper Sandler & Co. Operator Greetings, and welcome to KORU Medical Systems Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. I wo ...
KORU Medical Systems(KRMD) - 2022 Q2 - Earnings Call Presentation
2022-08-07 01:07
| --- | --- | --- | --- | |-------|-----------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | Q2 2022 Earnings Call August 3, 2022 KORU Medical Systems | | | | | | | | 1 Forward-Looking Statements 2 This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 regarding our expectations for future performance, including but not limited to our future reve ...
KORU Medical Systems(KRMD) - 2022 Q2 - Quarterly Report
2022-08-03 20:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 or [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission File Number: 0-12305 KORU MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) New York 13-3044880 ...
KORU Medical Systems(KRMD) - 2022 Q1 - Earnings Call Transcript
2022-05-08 09:25
Financial Data and Key Metrics Changes - KORU Medical Systems reported net revenues of $6.2 million for Q1 2022, a 15% increase year-over-year, marking the second consecutive quarter of double-digit growth [9][19] - Gross profit increased by $400,000 or 12.1%, while gross margin decreased by 150 basis points to 58% due to higher manufacturing costs and the dilutive impact of increased NRE revenues [21][24] - Net loss for Q1 2022 was $2.5 million or negative $0.06 per diluted share, compared to a net loss of $1.3 million or negative $0.03 per diluted share in Q1 2021 [24] Business Line Data and Key Metrics Changes - Domestic core business revenues increased by 13.2% year-over-year, driven by higher pump and consumable sales [19] - Novel Therapies revenues increased to over $350,000 for Q1 2022, primarily due to pre-commercialization revenues from pharmaceutical pipeline deal expansions [9][19] - International core revenues decreased by 8.6% year-over-year due to changes in ordering patterns from smaller distributors [9][20] Market Data and Key Metrics Changes - The overall SCIg drug market growth increased from 1% in Q4 2021 to 7% in Q1 2022, indicating a market recovery as patients return to regular therapy [9] - The prefilled syringe market penetration increased to 5% from 3.4% in the previous quarter, driven by label expansions [14] Company Strategy and Development Direction - The company aims to increase core SCIg penetration and expand into Novel Therapies, with a strategic plan rolled out in December 2021 [10][11] - KORU Medical is expanding its international presence, recently signing a distribution agreement with iExpert in Germany, a significant SCIg market [11][16] - The company is focused on innovation and product development, with plans for a next-generation pump and improvements to the FreedomEdge platform [18][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the U.S. market and the potential for double-digit growth, driven by the rebound in patient diagnoses and therapy cadence [27][41] - The company tightened its revenue guidance for 2022 to $26.5 million to $27 million, reflecting confidence in market growth and pipeline expansion [27][28] - Management highlighted the importance of label expansions and international agreements as key drivers for future growth [29][41] Other Important Information - The company is on track to move to a new building location in Mahwah, New Jersey, on June 1, 2022, and has strengthened its executive team with the hiring of a new Chief Technology Officer [11][18] - KORU Medical ended the quarter with $22.6 million in cash, indicating strong capitalization to support strategic initiatives [25] Q&A Session Summary Question: Impact of prefilled syringes on overall subcu penetration - Management noted a 0.5 point improvement in overall subcu penetration and a 40% growth in pump orders, attributing part of this growth to the FreedomEdge pump cleared for prefilled syringes [33] Question: Updates on new pump developments and product pipeline - Management confirmed ongoing innovation efforts, including improvements to the FreedomEdge platform and plans for a next-generation pump [35] Question: Feedback from specialty pharmacies regarding prefilled syringes - Management reported positive feedback regarding the ease of use of prefilled syringes and ongoing efforts to train pharmacies and patients [36] Question: Future developments of the Novel Therapies pipeline and international progress - Management highlighted the importance of the U.S. market recovery, Novel Therapies pipeline expansion, and the new distribution agreement in Germany as key factors for achieving growth targets [40] Question: Contribution from the recent 510(k) approval for EMPAVELI - Management indicated that the approval is expected to significantly enhance the promotion of the FreedomEdge pump and contribute to revenue growth [42]
KORU Medical Systems(KRMD) - 2022 Q1 - Quarterly Report
2022-05-04 20:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2022 or [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission File Number: 0-12305 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s ...