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KORU Medical Systems Announces Third Quarter 2026 Results Including Second Consecutive Quarter of Positive Net Income and Adjusted EBITDA

KRMD
  • KORU Medical Systems reported third-quarter 2026 net revenues of $11.6 million, an 11% increase from the prior year period.
  • Year-to-date net revenues for 2026 totaled $35.4 million, representing a 17% growth rate compared to the same period in 2025.
  • Gross profit increased 20% to $7.5 million, driven by an improvement in gross margin from 60.2% to 65.2%.
  • The company recorded a net income of $0.2 million for the quarter, a significant improvement from a net loss of $0.8 million in the prior year.
  • Adjusted EBITDA rose to $1.3 million for the quarter, up from $0.1 million in the prior year period.
  • Domestic core revenues grew 31.6% to $8.1 million, primarily due to higher pump volumes, new patient starts, and market share gains.
  • International core revenues decreased 16.5% to $3.1 million, attributed to a higher comparative base involving distributor shipments in the prior year.
  • Pharma services and clinical trials revenues declined 27.4% to $0.4 million due to lower purchases for a customer's clinical trial program.
  • The company signed two new sales and distribution agreements in Europe and Africa to expand its international footprint.
  • Full-year 2026 revenue guidance was revised to $48.0 - $48.5 million, reflecting 17-18% year-over-year growth.
  • Full-year 2026 gross margin guidance was adjusted to 63-64%, up from the previous range of 62-64%.
  • The company raised its year-end cash balance guidance to greater than $8.0 million from the prior guidance of greater than $7.5 million.
  • Reiterating positive adjusted EBITDA for the full year 2026, the company anticipates revenue growth to reaccelerate in the fourth quarter.
  • Cash and cash equivalents stood at $7.4 million as of September 30, 2026, reflecting a cash usage of $0.9 million during the third quarter.
  • A conference call to discuss these results is scheduled for November 10, 2026, at 4:30 PM ET.