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1. Company Snapshot

1.a. Company Description

KORU Medical Systems, Inc.designs, manufactures, and markets portable medical devices primarily for the ambulatory infusion market in the United States and internationally.It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing.


The company also provides education and training materials to clinicians, patients, and patient advocates.It sells its products through direct sales and medical device distributors, as well as online.KORU Medical Systems, Inc.


was incorporated in 1980 and is headquartered in Chester, New York.

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1.b. Last Insights on KRMD

KORU Medical Systems, Inc.'s recent performance was driven by its impressive Q2 2025 earnings report, which showed break-even quarterly earnings per share, surpassing the Zacks Consensus Estimate of a loss of $0.03. This improvement from a loss of $0.02 per share a year ago is a positive indicator. The company's Q2 2025 earnings call provided further insights into its financials and operations. According to Zacks, the company has a neutral rating. Notably, the company's ability to report break-even earnings could boost investor confidence.

1.c. Company Highlights

2. KORU Medical Systems' Q2 2025 Earnings: A Strong Beat with Growth Across the Board

KORU Medical Systems reported a strong second quarter with record revenues of $10.2 million, representing 21% growth over the prior year period. The company's domestic core revenues were $7.1 million, a 15% increase over the prior year, while international core business delivered revenues of $2.2 million, representing growth of 34% over the prior year. The Pharma Services and Clinical Trials revenues were $900,000, representing 42% growth over the prior year. The earnings per share (EPS) came in at $0.01, beating estimates of -$0.03. The company's cash balance stood at $8.1 million, with cash usage of $600,000 during the quarter.

Publication Date: Aug -23

📋 Highlights

Revenue Growth Across Segments

The company's revenue growth was driven by its three strategic growth pillars: defending and growing its core domestic business, expanding internationally, and enabling the delivery of additional drug therapies. The domestic SCIg market grew at a high single-digit to low double-digit rate in the first half of the year, while pharma partners reported strong double-digit growth in their SCIg franchises. The international growth is expected to be strong in the back half, with a target of 30% growth in 2025.

Guidance and Outlook

The company raised its revenue guidance to $39.5 million to $40.5 million, representing 18% to 20% growth. However, it expects a drop-off in Q3 due to a large US distributor's inventory reduction program, but expects a bounce back in Q4. The clinical trials and services business is expected to continue its stable growth, while the prefilled syringe business in Europe is a large growth opportunity. As Linda Tharby mentioned, "we're very pleased with our second quarter performance and the momentum across all of our strategic growth pillars."

Valuation and Metrics

The company's valuation metrics indicate that it is trading at a premium, with a Price-to-Sales Ratio of 5.5 and a Price-to-Book Ratio of 12.24. The EV/EBITDA ratio stands at -52.54, indicating that the company's enterprise value is not justified by its EBITDA. The ROE and ROIC are both negative, indicating that the company is not generating profits. However, the revenue growth and guidance suggest that the company is on a strong growth trajectory.

3. NewsRoom

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Head to Head Review: KORU Medical Systems (NASDAQ:KRMD) and Veeva Systems (NYSE:VEEV)

Dec -03

Source: defenseworld.net

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KORU Medical Systems to Present Promising Results on the Use of the FreedomEDGE® Syringe Infusion System in Infusion Centers at ESID/EHA/SIOPE Focused Symposium 2025

Nov -17

Source: businesswire.com

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KORU Medical Systems, Inc. (KRMD) Q3 2025 Earnings Call Transcript

Nov -13

Source: seekingalpha.com

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KORU Medical Systems, Inc. (KRMD) Reports Q3 Loss, Tops Revenue Estimates

Nov -13

Source: zacks.com

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KORU Medical Systems (NASDAQ:KRMD) Shares Up 2.2% – Here’s What Happened

Oct -21

Source: defenseworld.net

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ForCast Orthopedics and KORU Medical Systems Announce Agreement for Novel Antibiotic Infusion Therapy

Sep -18

Source: businesswire.com

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Are You Looking for a Top Momentum Pick? Why KORU Medical Systems, Inc. (KRMD) is a Great Choice

Aug -28

Source: zacks.com

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Cirtec Medical Announces Appointment of New Chief Executive Officer

Aug -28

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.86%)

6. Segments

Domestic Core

Expected Growth: 12%

KORU Medical Systems' Domestic Core segment growth of 12% is driven by increasing demand for infusion therapy, expansion into new markets, and strategic partnerships. Additionally, investments in product innovation, particularly in ambulatory infusion pumps, and a strong sales force have contributed to the segment's growth.

International Core

Expected Growth: 10%

KORU Medical Systems, Inc.'s International Core segment growth is driven by increasing demand for ambulatory infusion pumps, expansion into new geographic markets, and strategic partnerships. Additionally, the growing need for cost-effective and portable infusion therapies, coupled with advancements in technology, contributes to the 10% growth rate.

Novel Therapies

Expected Growth: 18%

KORU Medical Systems' 18% growth in Novel Therapies is driven by increasing demand for innovative treatments, advancements in gene editing technologies, and rising investments in research and development. Additionally, growing awareness of rare genetic disorders and the need for personalized medicine are contributing to the segment's rapid expansion.

7. Detailed Products

Halonix

A subcutaneous injection system designed for self-administration of medications

FP24

A wearable, on-body injector for delivering high-volume and high-viscosity medications

Koru NxT

A next-generation, wearable injector for delivering medications in a variety of formulations

8. KORU Medical Systems, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

KORU Medical Systems, Inc. has a moderate threat of substitutes due to the presence of alternative medical devices and treatments.

Bargaining Power Of Customers

KORU Medical Systems, Inc. has a low bargaining power of customers due to the specialized nature of its medical devices and the lack of alternative suppliers.

Bargaining Power Of Suppliers

KORU Medical Systems, Inc. has a moderate bargaining power of suppliers due to the presence of multiple suppliers for its raw materials and components.

Threat Of New Entrants

KORU Medical Systems, Inc. has a high threat of new entrants due to the growing demand for medical devices and the relatively low barriers to entry in the industry.

Intensity Of Rivalry

KORU Medical Systems, Inc. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 17.92%
Debt Cost 3.95%
Equity Weight 82.08%
Equity Cost 6.70%
WACC 6.21%
Leverage 21.84%

11. Quality Control: KORU Medical Systems, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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InfuSystem Holdings

A-Score: 4.6/10

Value: 4.6

Growth: 5.7

Quality: 5.7

Yield: 0.0

Momentum: 8.5

Volatility: 3.0

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Koru Medical Systems

A-Score: 4.5/10

Value: 6.4

Growth: 3.4

Quality: 4.8

Yield: 0.0

Momentum: 9.5

Volatility: 2.7

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Akoya Biosciences

A-Score: 3.3/10

Value: 9.6

Growth: 2.8

Quality: 4.8

Yield: 0.0

Momentum: 0.5

Volatility: 2.0

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Femasys

A-Score: 2.7/10

Value: 6.0

Growth: 2.8

Quality: 3.1

Yield: 0.0

Momentum: 4.0

Volatility: 0.3

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Milestone Scientific

A-Score: 2.5/10

Value: 6.6

Growth: 3.2

Quality: 4.3

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

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Harvard Bioscience

A-Score: 2.2/10

Value: 9.2

Growth: 1.1

Quality: 2.6

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.57$

Current Price

5.57$

Potential

-0.00%

Expected Cash-Flows