KORU Medical Systems(US:KRMD)2025-11-12 21:03Revenue Performance - Total net revenues increased by $2.2 million, or 27.2%, to $10.4 million for Q3 2025 compared to $8.2 million in Q3 2024[4] - Domestic core revenues were $6.1 million, a decrease of 5.0% year-over-year, while international core revenues surged by 229.6% to $3.7 million[4] - Net revenues for the three months ended September 30, 2025, were $10,402,163, representing a 27.3% increase from $8,179,977 in the same period of 2024[21] Profitability - Gross profit rose by $1.1 million, or 20.8%, to $6.3 million, with a gross margin of 60.2%[6] - The reported net loss improved to $0.8 million, a 51% reduction from the prior year, with positive adjusted EBITDA of $0.09 million, a 121% improvement[5] - Gross profit for the nine months ended September 30, 2025, was $18,786,676, up 19.3% from $15,769,038 in 2024[21] - The net loss for the nine months ended September 30, 2025, was $2,151,070, a decrease of 52.2% from $4,505,490 in 2024[21] - GAAP Net Loss for Q3 2025 was $777,966, compared to a loss of $1,580,817 in Q3 2024[30] - Non-GAAP Adjusted EBITDA for Q3 2025 was $89,197, an improvement from a loss of $434,495 in Q3 2024[30] Expenses - Total operating expenses for Q3 2025 were $7.1 million, a 3.5% increase from the prior year, primarily due to higher compensation and legal fees[7] - Operating expenses for the three months ended September 30, 2025, totaled $7,132,250, an increase of 3.5% compared to $6,889,288 in 2024[21] - Research and development expenses for the nine months ended September 30, 2025, were $3,242,505, a decrease of 21.8% from $4,143,751 in 2024[21] Cash Position - Cash and cash equivalents stood at $8.5 million as of September 30, 2025, reflecting a cash generation of $0.4 million during the quarter[9] - Ending cash balance for the full year 2025 is projected to be greater than $8.2 million, with positive cash flow from operations[13] - Cash and cash equivalents at the end of the period were $8,464,019, down from $8,806,310 at the end of September 2024[23] - The company reported a net cash used in operating activities of $632,351 for the nine months ended September 30, 2025, compared to $1,259,333 in 2024[23] Shareholder Metrics - The basic and diluted net loss per share for the three months ended September 30, 2025, was $(0.02), compared to $(0.03) in the same period of 2024[21] - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 46,238,819, slightly up from 45,851,019 in 2024[21] - Reported Diluted Earnings Per Share for Q3 2025 was $(0.02), compared to $(0.03) in Q3 2024[30] - Non-GAAP Adjusted Diluted Earnings Per Share for Q3 2025 was $(0.00), an improvement from $(0.01) in Q3 2024[30] Future Outlook - The company raised its full-year 2025 revenue guidance to $40.5 - $41.0 million, indicating a year-over-year growth of 20% - 22%[5] - Gross margin is expected to improve in Q4 2025 despite a decrease from 63.4% in the prior year[6] - The company announced two new pharmaceutical collaborations aimed at expanding patient reach[3] Other Income and Expenses - The total other income for the three months ended September 30, 2025, was $89,563, down from $122,480 in 2024[21] - Stock-based Compensation Expense for Q3 2025 was $737,398, up from $634,608 in Q3 2024[30] - Depreciation and Amortization for Q3 2025 was $204,482, compared to $227,785 in Q3 2024[30] - Interest Income, Net for Q3 2025 was $(74,567), down from $(112,997) in Q3 2024[30] - Tax Expense (Refund) for Q3 2025 was $(150), with no tax expense recorded in Q3 2024[30]