KORU Medical Systems Inc (NAS:KRMD)

Q2 2026 KORU Medical Systems Inc Earnings Call Transcript

Aug 5, 2026 / 08:30 PM GMT

Release Date Price: $4.13 (-2.59%)

Transcript 10-Q8-K

Key Points

Positve

Record quarterly revenue of $12 million, up 18% year-over-year, with 20% growth in the first half of 2026.
Achieved positive net income for the first time since 2019, a major milestone.
Gross margin improved to 65.1%, up 160 basis points year-over-year, and raised full-year guidance to 62%-64%.
International revenue grew 59% year-over-year, driven by strong demand in established markets and pre-filled syringe conversions.
Acquired a connected monitoring technology asset to enhance patient experience and provide real-time data insights, strengthening the platform's value proposition.
Domestic core business grew 12% year-over-year, outpacing the underlying SCIG market with continued market share gains.
Completed final development stages for Freedom 360, the next-generation pump, on track for 510 submission by end of next year.
Generated positive cash flow from operations in Q2, with minimal cash usage of $500,000 and year-end cash expected above $7.5 million.
Extended a key supplier contract with improved pricing, supporting continued margin expansion.
Positioned to benefit from the growing secondary immunodeficiency (SID) market, with several pivotal trials expected to conclude in the next 12-18 months.

Negative

Narrowed full-year revenue guidance to $47.5-$48.5 million due to slower-than-expected ramp in international pre-filled syringe markets.
International growth is expected to moderate in the near term as certain regional launches take longer to materialize.
PST revenue declined 35% year-over-year due to lower clinical trial orders, highlighting inherent variability in this segment.
Withdrew the U.S. FDA application for FESGO, delaying U.S. oncology market entry and shifting focus to alternative molecules.
The connected monitoring technology acquisition is a multi-year build, with no immediate revenue contribution.
Biogen's acquisition of Apellis may cause near-term delays in clinical trial activity, impacting PST timelines.
Cash balance remains modest at $8.3 million, though sufficient for foreseeable operations.
International expansion requires establishing proper distribution and reimbursement pathways, which is taking longer than initially anticipated.
The company's long-term growth targets depend on successful execution of multiple strategic initiatives, which carry execution risks.
The FESGO withdrawal reduces the U.S. oncology opportunity, with the total addressable market now estimated at $600K versus previous higher figures.

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

KRMD.OQ - KORU Medical Systems Inc
Q2 2026 KORU Medical Systems Inc Earnings Call
Aug 05, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to KORU Medical Systems Second Quarter 2026 Earnings Conference Call.

At this time, all participants are on a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press *0 on your telephone keypad.

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Louisa Smith.

Thank you. You may begin.

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Unidentified_2 [2]
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Thank you, operator, and

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