CRMD · Cormedix Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.08M | - | $104.28M | $39.74M | $39.08M | - | $11.46M | $806.1K | - | - |
| Cost of Revenue | $12.01M | - | $7.57M | $1.86M | $1.60M | - | $686.6K | $509.8K | $818.5K | - |
| Gross Profit | $105.12M | - | $93.08M | $37.87M | $37.48M | - | $10.77M | $296.3K | ($818.5K) | - |
| R&D | $7.21M | - | $5.10M | $2.44M | $3.19M | - | $727.1K | $651.0K | $837.4K | - |
| SG&A | $21.72M | - | $25.45M | $9.50M | $8.71M | - | $3.74M | $7.56M | $15.05M | - |
| Total Operating Expenses | $41.46M | - | $41.73M | $18.33M | $17.36M | - | $14.06M | $15.60M | $15.89M | - |
| D&A | $162.0K | - | - | - | $110.0K | - | - | - | $21.8K | - |
| Operating Income | $63.66M | - | $51.35M | $19.54M | $20.13M | - | ($3.29M) | ($15.30M) | ($16.70M) | - |
| Interest Expense | - | - | $948.2K | $6.6K | $9.8K | - | $13.1K | $6.6K | $9.8K | - |
| Income Tax | $17.04M | - | ($55.99M) | $521.5K | - | - | - | - | ($1.39M) | - |
| Net Income | $38.60M | - | $108.56M | $19.83M | $20.64M | - | ($2.78M) | ($14.15M) | ($14.47M) | - |
| EPS - Basic | $0.48 | - | $1.42 | $0.29 | $0.32 | - | ($0.05) | ($0.25) | ($0.25) | - |
| EPS - Diluted | $0.43 | - | $1.26 | $0.28 | $0.30 | - | ($0.05) | ($0.25) | ($0.25) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $178.09M | $144.84M | $48.49M | $159.31M | $66.29M | $40.65M | $35.29M | $28.54M | $35.18M | $43.64M |
| Accounts Receivable | $154.81M | $171.23M | $158.57M | $42.91M | $54.61M | $51.65M | $17.39M | $206.3K | - | - |
| Inventory | $30.73M | $29.72M | $28.92M | $9.63M | $7.49M | $7.60M | $6.65M | $4.01M | $2.32M | $2.11M |
| Accounts Payable | $12.83M | $7.88M | $20.45M | $5.82M | $1.93M | $1.72M | $1.34M | $3.34M | $2.83M | $4.28M |
| Current Assets | $383.11M | $367.05M | $259.54M | $248.06M | $144.86M | $114.58M | $73.15M | $53.19M | $63.41M | $79.45M |
| Total Assets | $815.64M | $826.14M | $750.86M | $252.60M | $149.58M | $118.85M | $77.59M | $57.73M | $68.02M | $82.06M |
| Current Liabilities | $128.78M | $174.27M | $133.64M | $31.71M | $34.39M | $33.84M | $18.48M | $11.11M | $9.53M | $11.40M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $378.59M | $420.83M | $376.73M | $31.97M | $34.69M | $34.19M | $18.87M | $11.55M | $10.01M | $11.92M |
| Stockholders' Equity | $437.05M | $405.31M | $374.13M | $220.63M | $114.89M | $84.66M | $58.71M | $46.18M | $58.01M | $70.14M |
| Retained Earnings | ($137.97M) | ($176.57M) | ($190.60M) | ($299.16M) | ($318.99M) | ($339.63M) | ($353.09M) | ($350.32M) | ($336.17M) | ($321.70M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $42.38M | - | - | - | $19.74M | - | - | - | ($17.31M) | - |
| Investing Cash Flow | $2.96M | - | - | - | ($194.8K) | - | - | - | $8.94M | - |
| Financing Cash Flow | ($12.10M) | - | - | - | $6.09M | - | - | - | ($97.1K) | - |
| CapEx | $729.0K | - | - | - | $10.2K | - | - | - | $61.3K | - |
| Free Cash Flow | $41.65M | - | - | - | $19.73M | - | - | - | ($17.37M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 269.0% | - | 89.3% | 95.3% | 95.9% | - | 94.0% | 36.8% | - | - |
| Operating margin | 162.9% | - | 49.2% | 49.2% | 51.5% | - | -28.7% | -1898.1% | - | - |
| EBITDA margin | 163.3% | - | - | - | 51.8% | - | - | - | - | - |
| Net margin | 98.8% | - | 104.1% | 49.9% | 52.8% | - | -24.2% | -1755.5% | - | - |
| Free cash flow margin | 106.6% | - | - | - | 50.5% | - | - | - | - | - |
| FCF / Net income | 1.08 | - | - | - | 0.96 | - | - | - | 1.20 | - |
| R&D / Revenue | 18.5% | - | 4.9% | 6.1% | 8.2% | - | 6.3% | 80.8% | - | - |
| SG&A / Revenue | 55.6% | - | 24.4% | 23.9% | 22.3% | - | 32.7% | 937.7% | - | - |
| Effective tax rate | 30.6% | - | -106.5% | 2.6% | - | - | - | - | - | - |
| Return on assets | 4.7% | - | 14.5% | 7.8% | 13.8% | - | -3.6% | -24.5% | -21.3% | - |
| Return on equity | 8.8% | - | 29.0% | 9.0% | 18.0% | - | -4.7% | -30.6% | -24.9% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.98 | 2.11 | 1.94 | 7.82 | 4.21 | 3.39 | 3.96 | 4.79 | 6.65 | 6.97 |
| Quick ratio | 2.74 | 1.94 | 1.73 | 7.52 | 3.99 | 3.16 | 3.60 | 4.43 | 6.41 | 6.78 |
| Cash ratio | 1.38 | 0.83 | 0.36 | 5.02 | 1.93 | 1.20 | 1.91 | 2.57 | 3.69 | 3.83 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | 54.1x | 2981.0x | 2046.3x | - | -250.7x | -2333.9x | -1698.4x | - |
| Equity multiplier | 1.87 | 2.04 | 2.01 | 1.14 | 1.30 | 1.40 | 1.32 | 1.25 | 1.17 | 1.17 |
| Liabilities / Assets | 0.46 | 0.51 | 0.50 | 0.13 | 0.23 | 0.29 | 0.24 | 0.20 | 0.15 | 0.15 |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | - | 0.14 | 0.16 | 0.26 | - | 0.15 | 0.01 | - | - |
| Inventory turnover | 0.39 | - | 0.26 | 0.19 | 0.21 | - | 0.10 | 0.13 | 0.35 | - |
| Days sales outstanding | 1446d | - | 555d | 394d | 510d | - | 554d | 93d | - | - |
| Days inventory outstanding | 934d | - | 1395d | 1888d | 1712d | - | 3535d | 2872d | 1035d | - |
| Days payable outstanding | 390d | - | 987d | 1140d | 442d | - | 714d | 2395d | 1260d | - |
| Cash conversion cycle | 1990d | - | 963d | 1143d | 1780d | - | 3375d | 571d | - | - |
| Valuation | ||||||||||
| P / E | 15.8x | - | 9.2x | 44.0x | 20.5x | - | - | - | - | - |
| P / B | 1.4x | - | 2.7x | 4.0x | 3.7x | - | 8.1x | 5.4x | 4.2x | - |
| P / S | 16.2x | - | 9.6x | 22.3x | 10.9x | - | 41.5x | 309.5x | - | - |
| EV / EBITDA | 7.1x | - | - | - | 17.7x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.0% | - | 810.2% | 4829.4% | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | 2382.3% | 1131.9% | 1623.3% | - | 570.0% | 361.7% | - | - |
| Revenue CAGR (5y) | 238.3% | - | 307.3% | 374.9% | 250.3% | - | 186.3% | 87.0% | - | - |
| Gross profit growth (YoY) | 180.4% | - | 764.3% | 12683.3% | - | - | - | - | - | - |
| Operating income growth (YoY) | 216.3% | - | - | - | - | - | 68.6% | -29.6% | -51.6% | - |
| Net income growth (YoY) | 87.0% | - | - | - | - | - | 71.5% | -25.5% | -36.9% | - |
| EPS growth (YoY) | 43.3% | - | - | - | - | - | 70.6% | 0.0% | -38.9% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 111.2% | - | - | - | - | - | - | - | -66.9% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 280.4% | 378.8% | 537.2% | 377.7% | 98.0% | 20.7% | -29.4% | -5.8% | 7.6% | 27.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$616.05M totalProduct$304.34M · 49.4%
Defen Cath$258.81M · 42.0%
Melinta Portfolio$45.53M · 7.4%
Contract Revenue$7.37M · 1.2%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing CorMedix Inc. against the 5 most active filers in the same SIC group.