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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $311.71M | $43.47M | - | $65.4K | $190.9K | $239.2K |
| Cost of Revenue | $22.09M | $3.19M | - | $3.7K | $148.9K | $204.8K |
| Gross Profit | $275.75M | $40.28M | - | $61.7K | $42.0K | $34.4K |
| R&D | $19.33M | $3.94M | $13.16M | $10.68M | $13.13M | $13.38M |
| SG&A | $68.22M | $29.96M | $35.80M | $20.01M | $16.35M | $13.88M |
| Total Operating Expenses | $125.61M | $62.64M | $48.96M | $30.69M | $29.48M | $27.26M |
| D&A | $677.0K | $153.9K | $70.8K | $84.6K | $61.9K | $128.0K |
| Operating Income | $150.14M | ($22.36M) | ($48.96M) | ($30.62M) | ($29.44M) | ($27.22M) |
| Interest Expense | $2.78M | $36.4K | $34.3K | $26.5K | $15.9K | $33.2K |
| Income Tax | ($13.04M) | ($1.39M) | - | ($585.6K) | ($1.25M) | ($5.17M) |
| Net Income | $163.06M | ($17.93M) | ($46.34M) | ($29.70M) | ($28.21M) | ($22.03M) |
| EPS - Basic | $2.25 | ($0.30) | ($0.91) | ($0.75) | - | - |
| EPS - Diluted | $2.04 | ($0.30) | ($0.91) | ($0.75) | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $144.84M | $40.65M | $43.64M | $43.15M | $53.32M | $41.91M |
| Accounts Receivable | $171.23M | $51.65M | - | - | - | - |
| Inventory | $29.72M | $7.60M | $2.11M | - | $3.0K | $143.6K |
| Accounts Payable | $7.88M | $1.72M | $4.28M | $2.20M | $2.21M | $1.13M |
| Current Assets | $367.05M | $114.58M | $79.45M | $59.55M | $66.47M | $48.18M |
| Total Assets | $826.14M | $118.85M | $82.06M | $62.04M | $68.95M | $49.31M |
| Current Liabilities | $174.27M | $33.84M | $11.40M | $6.31M | $5.35M | $4.16M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $420.83M | $34.19M | $11.92M | $6.98M | $6.15M | $5.09M |
| Stockholders' Equity | $405.31M | $84.66M | $70.14M | $55.06M | $62.80M | $44.22M |
| Retained Earnings | ($176.57M) | ($339.63M) | ($321.70M) | ($275.36M) | ($245.66M) | ($217.45M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $175.05M | ($50.61M) | ($38.41M) | ($24.36M) | ($21.16M) | ($21.97M) |
| Investing Cash Flow | ($308.43M) | $21.23M | ($17.06M) | ($3.71M) | ($9.13M) | $7.43M |
| Financing Cash Flow | $238.45M | $26.32M | $55.92M | $17.90M | $41.76M | $40.10M |
| CapEx | $2.26M | $115.7K | $327.3K | $219.4K | $1.43M | $112.6K |
| Free Cash Flow | $172.79M | ($50.73M) | ($38.74M) | ($24.58M) | ($22.58M) | ($22.08M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 88.5% | 92.7% | - | 94.3% | 22.0% | 14.4% |
| Operating margin | 48.2% | -51.4% | - | -46819.9% | -15417.5% | -11378.4% |
| EBITDA margin | 48.4% | -51.1% | - | -46690.5% | -15385.1% | -11324.9% |
| Net margin | 52.3% | -41.2% | - | -45409.9% | -14774.7% | -9207.7% |
| Free cash flow margin | 55.4% | -116.7% | - | -37573.5% | -11826.2% | -9229.7% |
| FCF / Net income | 1.06 | 2.83 | 0.84 | 0.83 | 0.80 | 1.00 |
| R&D / Revenue | 6.2% | 9.1% | - | 16327.6% | 6878.2% | 5591.7% |
| SG&A / Revenue | 21.9% | 68.9% | - | 30586.6% | 8561.3% | 5801.1% |
| Effective tax rate | -8.7% | - | - | - | - | - |
| Return on assets | 19.7% | -15.1% | -56.5% | -47.9% | -40.9% | -44.7% |
| Return on equity | 40.2% | -21.2% | -66.1% | -53.9% | -44.9% | -49.8% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.11 | 3.39 | 6.97 | 9.44 | 12.44 | 11.58 |
| Quick ratio | 1.94 | 3.16 | 6.78 | 9.44 | 12.43 | 11.54 |
| Cash ratio | 0.83 | 1.20 | 3.83 | 6.84 | 9.98 | 10.07 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 54.0x | -614.1x | -1427.5x | -1155.0x | -1846.4x | -819.3x |
| Equity multiplier | 2.04 | 1.40 | 1.17 | 1.13 | 1.10 | 1.11 |
| Liabilities / Assets | 0.51 | 0.29 | 0.15 | 0.11 | 0.09 | 0.10 |
| Efficiency | ||||||
| Asset turnover | 0.38 | 0.37 | - | 0.00 | 0.00 | 0.00 |
| Inventory turnover | 0.74 | 0.42 | - | - | 49.51 | 1.43 |
| Days sales outstanding | 201d | 434d | - | - | - | - |
| Days inventory outstanding | 491d | 869d | - | - | 7d | 256d |
| Days payable outstanding | 130d | 197d | - | 215261d | 5415d | 2010d |
| Cash conversion cycle | 561d | 1106d | - | - | - | - |
| Valuation | ||||||
| P / E | 5.7x | - | - | - | - | - |
| P / B | 0.0x | 5.6x | 2.7x | 2.9x | - | - |
| P / S | 0.0x | 11.0x | - | 2430.1x | - | - |
| EV / EBITDA | -1.0x | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 617.0% | - | - | -65.7% | -20.2% | -15.5% |
| Revenue CAGR (3y) | 1582.8% | 510.6% | - | -38.7% | -23.7% | -10.1% |
| Revenue CAGR (5y) | 319.7% | 173.7% | - | -27.6% | -3.2% | 2.6% |
| Gross profit growth (YoY) | 584.6% | - | - | 46.8% | 22.1% | - |
| Operating income growth (YoY) | - | 54.3% | -59.9% | -4.0% | -8.1% | -29.6% |
| Net income growth (YoY) | - | 61.3% | -56.0% | -5.3% | -28.1% | -34.0% |
| EPS growth (YoY) | - | 67.0% | -21.3% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | -31.0% | -57.6% | -8.8% | -2.3% | -46.3% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 378.8% | 20.7% | 27.4% | -12.3% | 42.0% | 87.0% |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.33
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing CorMedix Inc. against the 5 most active filers in the same SIC group.