KORU Medical Systems Inc (NAS:KRMD)

Q3 2024 KORU Medical Systems Inc Earnings Call Transcript

Nov 13, 2024 / 09:30 PM GMT

Release Date Price: $3.2 (+7.74%)

Transcript 10-Q8-K

Key Points

Positve

KORU Medical Systems Inc (KRMD) reported a 17% increase in third-quarter revenues, marking the third consecutive quarter of double-digit revenue growth.
The company achieved a gross margin improvement of 140 basis points to 63.4%, driven by improved non-recurring engineering margins and contractual price increases.
KORU Medical Systems Inc (KRMD) raised its revenue and gross margin guidance for the second time this year, reflecting strong performance and confidence in future growth.
The international segment showed strong performance with a 38% year-to-date growth, supported by significant and sustainable growth drivers.
The novel therapies segment experienced a 276% revenue growth over the prior year, with six commercial drug launches expected by 2026, indicating a robust pipeline.

Negative

The 510(k) submission for the next-generation device has been delayed to mid-2025, which could impact the timing of future product launches.
International growth was affected by residual effects of Q2 V SI stocking orders, which normalized growth to about 25% instead of the reported 5%.
The company reported a net loss of $800,000 excluding non-cash items, contributing to a cash usage of $1.7 million in the quarter.
Operating expenses are expected to finish slightly higher than previously guided, at $24.5 to $25 million, due to stronger revenue performance.
The oncology biologic launch is anticipated by the end of 2025, which may delay potential revenue contributions from this segment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KRMD.OQ - KORU Medical Systems Inc
Q3 2024 KORU Medical Systems Inc Earnings Call
Nov 13, 2024 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Chairman, greetings and welcome to the Koru Medical Systems third quarter earnings conference call.

At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Louisa Smith from Investor relations. Please go ahead.

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Unidentified_2 [2]
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