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KORU Medical Systems Reports Preliminary Fourth Quarter and Full Year 2024 Results; Achieves Record Full Year and Quarterly Revenues; Positive Cash Flow for the Fourth Quarter

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KORU Medical Systems (KRMD) has announced preliminary unaudited results for Q4 and full year 2024, showing strong growth and improved financial performance. The company reported preliminary Q4 2024 net revenues of $8.9 million, representing a 23% growth compared to the previous year. Full-year 2024 net revenues reached $33.7 million, an 18% increase year-over-year.

The company ended the period with a cash balance of $9.6 million, achieving positive cash flow of $0.8 million in Q4. The full-year cash burn was $1.9 million, showing a 67% improvement from the previous year. KORU Medical has reported success in winning US market share, expanding internationally, and progressing with new drug therapy approvals while improving margins and maintaining disciplined cash management.

KORU Medical Systems (KRMD) ha annunciato i risultati preliminari non verificati per il quarto trimestre e l'intero anno 2024, mostrando una forte crescita e un miglioramento delle performance finanziarie. La società ha riportato ricavi netti preliminari per il Q4 2024 di $8.9 milioni, con una crescita del 23% rispetto all'anno precedente. I ricavi netti totali per l'anno 2024 hanno raggiunto $33.7 milioni, con un incremento del 18% rispetto all'anno precedente.

La società ha concluso il periodo con un saldo di cassa di $9.6 milioni, registrando un flusso di cassa positivo di $0.8 milioni nel Q4. Il consumo di cassa per l'intero anno è stato di $1.9 milioni, mostrando un miglioramento del 67% rispetto all'anno precedente. KORU Medical ha riportato successi nell'acquisizione di quote di mercato negli Stati Uniti, espandendosi a livello internazionale e progredendo con le approvazioni di nuove terapie farmacologiche, migliorando i margini e mantenendo una gestione disciplinata della liquidità.

KORU Medical Systems (KRMD) ha anunciado resultados preliminares no auditados para el cuarto trimestre y el año completo de 2024, mostrando un fuerte crecimiento y una mejora en el rendimiento financiero. La compañía reportó ingresos netos preliminares de $8.9 millones para el Q4 2024, lo que representa un crecimiento del 23% en comparación con el año anterior. Los ingresos netos del año completo 2024 alcanzaron $33.7 millones, un aumento del 18% interanual.

La compañía terminó el período con un saldo de caja de $9.6 millones, logrando un flujo de caja positivo de $0.8 millones en el Q4. El consumo de caja durante todo el año fue de $1.9 millones, mostrando una mejora del 67% respecto al año anterior. KORU Medical ha reportado éxitos en la conquista de cuota de mercado en EE.UU., expandiéndose internacionalmente y avanzando en las aprobaciones de nuevas terapias farmacéuticas, mientras mejora los márgenes y mantiene una gestión de efectivo disciplinada.

KORU Medical Systems (KRMD)는 2024년 4분기 및 전체 연도의 예비 감사되지 않은 결과를 발표하며 강력한 성장과 개선된 재무 성과를 보여주었습니다. 회사는 2024년 4분기 예비 순수익이 $8.9백만으로, 전년도 대비 23% 성장했다고 보고했습니다. 2024년 전체 순수익은 $33.7백만에 달하며, 전년 대비 18% 증가했습니다.

회사는 이 기간 동안 $9.6백만의 현금 잔액을 기록하며, 4분기 동안 $0.8백만의 긍정적인 현금 흐름을 달성했습니다. 연간 현금 소모는 $1.9백만으로, 전년 대비 67% 개선된 수치입니다. KORU Medical은 미국 시장 점유율 확보, 국제적 확장, 새로운 약물 치료 승인 과정을 진행하며, 마진을 개선하고 엄격한 현금 관리를 유지하는 데 성공했습니다.

KORU Medical Systems (KRMD) a annoncé des résultats préliminaires non audités pour le quatrième trimestre et l'année complète 2024, montrant une forte croissance et une amélioration des performances financières. La société a rapporté des revenus nets préliminaires pour le Q4 2024 de $8.9 millions, représentant une croissance de 23 % par rapport à l'année précédente. Les revenus nets pour l'année entière 2024 ont atteint $33.7 millions, soit une augmentation de 18 % par rapport à l'année précédente.

La société a terminé la période avec un solde de cash de $9.6 millions, réalisant un flux de trésorerie positif de $0.8 millions au Q4. La consommation de cash sur l'ensemble de l'année était de $1.9 millions, montrant une amélioration de 67 % par rapport à l'année précédente. KORU Medical a rapporté des succès dans l'acquisition de parts de marché aux États-Unis, dans l'expansion internationale, et dans les progrès en matière d'approbations de nouvelles thérapies médicamenteuses tout en améliorant les marges et en maintenant une gestion disciplinée de la trésorerie.

KORU Medical Systems (KRMD) hat die vorläufigen, nicht geprüften Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 bekannt gegeben, die ein starkes Wachstum und eine verbesserte finanzielle Leistung zeigen. Das Unternehmen berichtete von vorläufigen Nettoumsätzen im Q4 2024 in Höhe von $8.9 Millionen, was einem Anstieg von 23 % im Vergleich zum Vorjahr entspricht. Die Nettoumsätze für das gesamte Jahr 2024 beliefen sich auf $33.7 Millionen, ein Anstieg um 18 % im Vergleich zum Vorjahr.

Das Unternehmen schloss den Zeitraum mit einem Kassenbestand von $9.6 Millionen ab und erzielte im Q4 einen positiven Cashflow von $0.8 Millionen. Der Gesamte Cashburn des Jahres betrug $1.9 Millionen, was einem Verbesserungsgrad von 67 % im Vergleich zum Vorjahr entspricht. KORU Medical hat Erfolge beim Gewinn von Marktanteilen in den USA, der internationalen Expansion und der Fortschritte bei neuen Arzneimitteltherapiegenehmigungen gemeldet, während es gleichzeitig die Gewinnmargen verbessert und eine disziplinierte Liquiditätsverwaltung aufrechterhält.

Positive
  • Q4 2024 revenue growth of 23% year-over-year to $8.9 million
  • Full year 2024 revenue growth of 18% to $33.7 million
  • Positive Q4 cash flow of $0.8 million
  • 67% improvement in full-year cash burn to $1.9 million
  • Market share gains in US market
Negative
  • Full year cash burn of $1.9 million despite improvements

Insights

KORU Medical's preliminary Q4 results reveal impressive momentum with 23% revenue growth to $8.9 million, culminating in full-year revenues of $33.7 million - an 18% year-over-year increase. The company's cash management has significantly improved, demonstrating a 67% reduction in annual cash burn to $1.9 million, with Q4 generating positive cash flow of $0.8 million.

The strong performance metrics indicate successful execution of the company's growth strategy across multiple fronts: domestic market share gains, international expansion and therapy portfolio diversification. The positive cash flow in Q4 suggests operational efficiency improvements and potential approaching profitability inflection point. The ending cash balance of $9.6 million provides adequate runway for continued growth initiatives.

For retail investors, this translates to: Think of KORU like a race car that's not just accelerating (revenue growth) but also becoming more fuel-efficient (better cash management). The company is now generating cash instead of burning it, which is like shifting from paying to run the race to getting paid to race. This financial health improvement, combined with market expansion and new drug therapy opportunities, positions KORU for potential continued growth in 2025.

The subcutaneous drug delivery market dynamics strongly favor KORU's positioning. The company's 23% Q4 growth outpaces the industry average, indicating market share gains in the large volume subcutaneous infusion segment. Their strategic focus on therapy label expansion and international markets represents a well-structured approach to capitalize on the growing trend toward home-based drug administration.

The positive cash flow achievement in Q4 is particularly noteworthy as it demonstrates successful execution of their growth strategy while maintaining fiscal discipline - a rare combination in the medical device sector. The margin improvements suggest increasing operational leverage, which could accelerate profitability as revenue scales.

Breaking this down simply: Imagine KORU as a store that's not just selling more products (revenue growth) but also getting better deals from suppliers and spending less on operations (margin improvements). They're also expanding into new neighborhoods (international markets) and adding new products to their shelves (drug therapies), all while keeping more money in the bank. This balanced growth approach significantly reduces investment risk while maintaining strong upside potential.

MAHWAH, N.J.--(BUSINESS WIRE)-- KORU Medical Systems (NASDAQ: KRMD) (“KORU Medical” or the “Company”), a leading medical technology company focused on the development, manufacturing, and commercialization of innovative and patient-centric large volume subcutaneous infusion solutions, today announced preliminary unaudited results for the fourth quarter and full year ended December 31, 2024.

Financial Results (unaudited)

  • Preliminary, unaudited fourth quarter 2024 net revenues expected to be $8.9 million, representing growth of 23% over the prior year period
  • Preliminary, unaudited full year 2024 net revenues expected to be $33.7 million, representing growth of 18% over the prior year
  • Ending cash balance of $9.6 million, representing positive cash flow of $0.8 million for the fourth quarter and full year cash burn of $1.9 million, a 67% improvement over the prior year

“I am proud of the growth that we have achieved in our fourth quarter and 2024 finish,” said Linda Tharby, President and CEO of KORU Medical. “We executed on all aspects of our strategic plan as we continued to win share in the US market, expanded our international footprint, and made meaningful progress towards adding new drug therapies to our label. We did this as we continued to improve margins and demonstrated a disciplined use of cash. We are excited by our fourth quarter momentum that we will carry into 2025 as we look to capitalize on near-term catalysts that will continue to transform KORU into a global leader in drug delivery.”

KORU plans to release its fourth quarter and full year 2024 financial results in early March 2025. The quarterly and annual preliminary revenue figures included in this press release are subject to adjustment following the completion of review and audit procedures by the Company’s independent registered public accountants.

About KORU Medical Systems

KORU Medical Systems develops, manufactures, and commercializes innovative and patient-centric large volume subcutaneous infusion solutions that improve quality of life for patients around the world. The FREEDOM Syringe Infusion System (the “Freedom System”) currently includes the FREEDOM60® and FreedomEdge® Syringe Infusion Drivers, Precision Flow Rate Tubing™ and HIgH-Flo Subcutaneous Safety Needle Sets™. The Freedom System, which received its first FDA clearance in 1994, is used for self-administration in the home by the patient and/or delivery in an ambulatory infusion center by a healthcare professional. Through its Novel Therapies business, KORU Medical provides products for use by biopharmaceutical companies in feasibility/clinical trials during the drug development process and, as needed, is capable of customizing the Freedom System for clinical and commercial use across multiple drug categories. For more information, please visit www.korumedical.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including but not limited to sales expansion into new regions. Actual results may differ materially from these statements due to potential risks and uncertainties such as those risks and uncertainties included under the captions "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 which is on file with the SEC and available on our website at www.korumedical.com/investors and on the SEC website at www.sec.gov. All information provided in this release and in the attachments is as of April 11, 2024. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

Investor Contact:

Louisa Smith

investor@korumedical.com

Source: KORU Medical Systems

FAQ

What was KORU Medical's (KRMD) revenue growth in Q4 2024?

KORU Medical reported preliminary Q4 2024 net revenues of $8.9 million, representing 23% growth compared to the previous year.

How much did KRMD's full-year 2024 revenues increase?

KORU Medical's full-year 2024 net revenues reached $33.7 million, representing an 18% increase compared to 2023.

What was KORU Medical's (KRMD) cash position at the end of 2024?

KORU Medical ended 2024 with a cash balance of $9.6 million, achieving positive cash flow of $0.8 million in Q4.

How much did KRMD improve its cash burn in 2024?

KORU Medical's full-year cash burn improved by 67% to $1.9 million compared to the previous year.

When will KORU Medical (KRMD) release its full Q4 and 2024 financial results?

KORU Medical plans to release its complete Q4 and full year 2024 financial results in early March 2025.

KORU Medical Systems, Inc.

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