NASDAQ : CRMD
CorMedix Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 7.64 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 595.49M
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Financial statements
CorMedix Inc. (CRMD) reported revenue of 462.25M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 462.25M | 311.71M | 43.47M | 65.41K | 190.94K | |
| Cost of Revenue | 45.24M | 22.09M | 3.03M | 3.73K | 148.94K | |
| Gross Profit | 417.00M | 289.62M | 40.44M | 61.67K | 42.00K | |
| Selling, General & Admin | 127.80M | 96.07M | 58.70M | 35.80M | 20.01M | 16.35M |
| Research & Development | 27.59M | 19.33M | 3.94M | 13.16M | 10.68M | 13.13M |
| Amortization of Goodwill & Intangibles | 34.37M | 13.87M | 156.00K | |||
| Operating Expenses | 189.76M | 129.28M | 62.79M | 48.96M | 30.69M | 29.48M |
| Operating Income | 227.24M | 160.34M | -22.36M | -48.96M | -30.62M | -29.44M |
| Interest Expense | -2.78M | -2.78M | -36.00K | -34.30K | -26.52K | -15.94K |
| Interest & Investment Income | 3.85M | 3.85M | 2.58M | 2.68M | 326.02K | 14.40K |
| Currency Exchange Gain (Loss) | -52.00K | -52.00K | -31.00K | -28.99K | 37.15K | -21.29K |
| Other Non Operating Income (Expenses) | -1.66M | 519.00K | ||||
| EBT Excluding Unusual Items | 226.59M | 161.35M | -19.32M | -46.34M | -30.29M | -29.46M |
| Merger & Restructuring Charges | -10.20M | -10.20M | ||||
| Gain (Loss) on Sale of Investments | 4.36M | 5.36M | ||||
| Other Unusual Items | -17.35M | -6.50M | ||||
| Pretax Income | 203.40M | 150.02M | -19.32M | -46.34M | -30.29M | -29.46M |
| Income Tax Expense | 16.23M | -13.04M | -1.40M | -585.62K | -1.25M | |
| Net Income | 187.17M | 163.06M | -17.93M | -46.34M | -29.70M | -28.21M |
| Preferred Dividends & Other Adjustments | 1.16M | 988.00K | ||||
| Net Income to Common | 186.01M | 162.07M | -17.93M | -46.34M | -29.70M | -28.21M |
| Shares Outstanding (Basic) | 78.21M | 72.03M | 58.87M | 50.90M | 40.27M | 37.67M |
| Shares Outstanding (Diluted) | 91.40M | 80.31M | 58.87M | 50.90M | 40.27M | 37.67M |
| EPS (Basic) | 2.38 | 2.25 | -0.30 | -0.91 | -0.74 | -0.75 |
| EPS (Diluted) | 2.08 | 2.04 | -0.30 | -0.91 | -0.74 | -0.75 |
| Free Cash Flow | 250.42M | 172.79M | -50.73M | -38.74M | -24.58M | -22.58M |
| Free Cash Flow Per Share | 2.74 | 2.15 | -0.86 | -0.76 | -0.61 | -0.60 |
| Gross Margin | 90.21% | 92.91% | 93.02% | 94.29% | 22.00% | |
| Operating Margin | 49.16% | 51.44% | -51.43% | -46,819.91% | -15,417.51% | |
| Profit Margin | 40.24% | 51.99% | -41.24% | -45,409.90% | -14,774.70% | |
| Free Cash Flow Margin | 54.17% | 55.43% | -116.70% | -37,573.53% | -11,826.24% | |
| EBITDA | 262.55M | 174.89M | -22.05M | -48.89M | -30.54M | -29.38M |
| EBITDA Margin | 56.80% | 56.11% | -50.71% | |||
| D&A For EBITDA | 35.31M | 14.55M | 310.00K | 70.75K | 84.62K | 61.89K |
| EBIT | 227.24M | 160.34M | -22.36M | -48.96M | -30.62M | -29.44M |
| EBIT Margin | 49.16% | 51.44% | -51.43% | |||
| Revenue as Reported | 462.25M | 311.71M | 43.47M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 256.69M | 144.84M | 40.65M | 43.64M | 43.15M | 53.32M |
| Short-Term Investments | 3.69M | 11.04M | 32.39M | 15.64M | 12.15M | |
| Cash & Short-Term Investments | 256.69M | 148.53M | 51.69M | 76.03M | 58.79M | 65.47M |
| Receivables | 161.31M | 171.23M | 51.65M | 45.37K | ||
| Inventory | 38.58M | 29.72M | 7.60M | 2.11M | 3.01K | |
| Prepaid Expenses | 23.32M | 16.91M | 3.63M | 764.12K | 623.67K | 770.49K |
| Restricted Cash | 656.00K | 656.00K | 77.45K | 124.10K | 131.57K | |
| Other Current Assets | 471.67K | 11.02K | 51.99K | |||
| Total Current Assets | 480.55M | 367.05M | 114.58M | 79.45M | 59.55M | 66.47M |
| Property, Plant & Equipment | 7.85M | 9.93M | 2.32M | 2.51M | 2.38M | 2.37M |
| Long-Term Investments | 10.36M | |||||
| Goodwill | 30.00M | 30.00M | ||||
| Other Intangible Assets | 358.47M | 379.07M | 1.84M | |||
| Long-Term Deferred Tax Assets | 16.28M | |||||
| Other Long-Term Assets | 27.17M | 13.45M | 105.00K | 103.06K | 102.32K | 102.31K |
| Total Assets | 904.05M | 826.14M | 118.85M | 82.06M | 62.04M | 68.95M |
| Accounts Payable | 10.24M | 7.88M | 1.72M | 4.28M | 2.20M | 2.21M |
| Accrued Expenses | 160.19M | 148.36M | 29.95M | 6.97M | 3.97M | 3.01M |
| Current Portion of Leases | 1.45M | 168.00K | 150.62K | 134.80K | 121.37K | |
| Current Income Taxes Payable | 13.05M | 12.76M | ||||
| Other Current Liabilities | 3.91M | 3.82M | 2.00M | |||
| Total Current Liabilities | 187.40M | 174.27M | 33.84M | 11.40M | 6.31M | 5.35M |
| Long-Term Debt | 145.15M | 144.63M | ||||
| Long-Term Leases | 2.31M | 2.84M | 349.00K | 517.01K | 667.63K | 802.43K |
| Other Long-Term Liabilities | 107.70M | 99.10M | ||||
| Total Liabilities | 443.22M | 420.83M | 34.19M | 11.92M | 6.98M | 6.15M |
| Common Stock | 78.00K | 79.00K | 64.00K | 54.94K | 42.81K | 38.09K |
| Additional Paid-In Capital | 572.74M | 581.80M | 424.13M | 391.69M | 330.29M | 308.33M |
| Retained Earnings | -111.99M | -176.57M | -339.63M | -321.70M | -275.36M | -245.66M |
| Comprehensive Income & Other | 2.00K | 3.00K | 91.00K | 94.11K | 82.74K | 87.13K |
| Total Common Equity | 460.83M | 405.31M | 84.66M | 70.14M | 55.06M | 62.80M |
| Shareholders' Equity | 460.83M | 405.31M | 84.66M | 70.14M | 55.06M | 62.80M |
| Total Liabilities & Equity | 904.05M | 826.14M | 118.85M | 82.06M | 62.04M | 68.95M |
| Total Debt | 147.46M | 148.91M | 517.00K | 667.63K | 802.43K | 923.80K |
| Net Cash (Debt) | 109.24M | 9.98M | 51.17M | 75.36M | 57.99M | 64.54M |
| Net Cash Per Share | 1.20 | 0.12 | 0.87 | 1.48 | 1.44 | 1.71 |
| Filing Date Shares Outstanding | 77.94M | 79.05M | 65.18M | 54.98M | 44.48M | 38.71M |
| Total Common Shares Outstanding | 77.67M | 79.26M | 64.41M | 54.94M | 42.79M | 38.06M |
| Working Capital | 293.16M | 192.78M | 80.73M | 68.05M | 53.24M | 61.12M |
| Book Value Per Share | 5.93 | 5.11 | 1.31 | 1.28 | 1.29 | 1.65 |
| Tangible Book Value | 72.36M | -3.77M | 82.81M | 70.14M | 55.06M | 62.80M |
| Tangible Book Value Per Share | 0.93 | -0.05 | 1.29 | 1.28 | 1.29 | 1.65 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 187.17M | 163.06M | -17.93M | -46.34M | -29.70M | -28.21M |
| Depreciation & Amortization | 35.31M | 14.55M | 310.00K | 70.75K | 84.62K | 61.89K |
| Other Amortization | 398.00K | 398.00K | ||||
| Loss (Gain) From Sale of Assets | -86.00K | -86.00K | ||||
| Loss (Gain) From Sale of Investments | -4.36M | -5.36M | ||||
| Stock-Based Compensation | 16.32M | 13.83M | 6.13M | 5.49M | 4.07M | 5.04M |
| Provision & Write-off of Bad Debts | 252.00K | 252.00K | 137.00K | |||
| Other Operating Activities | 10.25M | -18.86M | 148.00K | 134.81K | 124.42K | 115.13K |
| Change in Accounts Receivable | -89.65M | -90.92M | -51.79M | 42.14K | -44.08K | |
| Change in Inventory | -10.31M | -3.48M | -5.49M | -2.11M | 3.01K | 145.46K |
| Change in Accounts Payable | 1.40M | 3.33M | -2.56M | 2.08M | -6.57K | 1.08M |
| Change in Other Net Operating Assets | 107.24M | 98.34M | 20.43M | 2.26M | 1.03M | 651.87K |
| Operating Cash Flow | 253.94M | 175.05M | -50.62M | -38.41M | -24.36M | -21.16M |
| Capital Expenditures | -3.52M | -2.26M | -116.00K | -327.30K | -219.36K | -1.43M |
| Cash Acquisitions | -308.51M | -308.51M | ||||
| Investment in Securities | 26.41M | 2.34M | 21.35M | -16.73M | -3.49M | -7.71M |
| Investing Cash Flow | -285.62M | -308.43M | 21.23M | -17.06M | -3.71M | -9.13M |
| Long-Term Debt Issued | 150.00M | |||||
| Long-Term Debt Repaid | -188.00K | |||||
| Net Debt Issued (Repaid) | 149.50M | 149.81M | ||||
| Issuance of Common Stock | 7.36M | 96.55M | 26.61M | 56.12M | 17.90M | 41.76M |
| Repurchase of Common Stock | -19.86M | -1.99M | -290.00K | -198.44K | ||
| Other Financing Activities | -7.05M | -5.92M | ||||
| Financing Cash Flow | 129.95M | 238.45M | 26.32M | 55.92M | 17.90M | 41.76M |
| Foreign Exchange Rate Adjustments | -1.00K | -2.00K | 2.81K | -8.68K | -12.92K | |
| Net Cash Flow | 98.27M | 105.07M | -3.07M | 448.45K | -10.18M | 11.45M |
| Free Cash Flow | 250.42M | 172.79M | -50.73M | -38.74M | -24.58M | -22.58M |
| Free Cash Flow Margin | 54.17% | 55.43% | -116.70% | -37,573.53% | -11,826.24% | |
| Free Cash Flow Per Share | 2.74 | 2.15 | -0.86 | -0.76 | -0.61 | -0.60 |
| Levered Free Cash Flow | 178.14M | 108.51M | -44.72M | -22.97M | -14.03M | -12.73M |
| Unlevered Free Cash Flow | 179.48M | 109.85M | -44.69M | -22.95M | -14.01M | -12.72M |
| Cash Interest Paid | 2.82M | 17.00K | 36.00K | 34.30K | 26.52K | 15.94K |
| Change in Working Capital | 8.68M | 7.27M | -39.41M | 2.23M | 1.07M | 1.84M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 420.12M | 916.32M | 491.49M | 206.01M | 174.12M | 173.19M |
| Enterprise Value | 310.88M | 1.01B | 446.01M | 120.13M | 115.95M | 102.18M |
| Last Close Price | 5.70 | 11.63 | 8.10 | 3.76 | 4.22 | 4.55 |
| PE Ratio | 2.59 | 5.65 | ||||
| Forward PE | 4.15 | 12.27 | ||||
| PS Ratio | 0.93 | 2.94 | 11.31 | 2,662.04 | 907.08 | |
| PB Ratio | 0.96 | 2.26 | 5.81 | 2.94 | 3.16 | 2.76 |
| P/TBV Ratio | 5.94 | 5.93 | 2.94 | 3.16 | 2.76 | |
| P/FCF Ratio | 1.72 | 5.30 | ||||
| P/OCF Ratio | 1.69 | 5.24 | ||||
| EV/Sales Ratio | 0.69 | 3.24 | 10.26 | 1,772.75 | 535.14 | |
| EV/EBITDA Ratio | 1.22 | 5.77 | ||||
| EV/EBIT Ratio | 1.41 | 6.30 | ||||
| EV/FCF Ratio | 1.28 | 5.84 | ||||
| Debt / Equity Ratio | 0.32 | 0.37 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.56 | 0.85 | ||||
| Debt / FCF Ratio | 0.59 | 0.86 | ||||
| Net Debt / Equity Ratio | -0.24 | -0.03 | -0.60 | -1.07 | -1.05 | -1.03 |
| Net Debt / EBITDA Ratio | -0.42 | -0.06 | 2.32 | 1.54 | 1.90 | 2.20 |
| Net Debt / FCF Ratio | -0.44 | -0.06 | 1.01 | 1.95 | 2.36 | 2.86 |
| Asset Turnover | 0.80 | 0.66 | 0.43 | 0.00 | 0.00 | |
| Inventory Turnover | 1.88 | 1.18 | 0.62 | 2.03 | ||
| Quick Ratio | 2.23 | 1.83 | 3.05 | 6.67 | 9.32 | 12.26 |
| Current Ratio | 2.56 | 2.11 | 3.39 | 6.97 | 9.44 | 12.44 |
| Return on Equity (ROE) | 54.93% | 66.56% | -23.16% | -74.02% | -50.40% | -52.72% |
| Return on Assets (ROA) | 24.56% | 21.21% | -13.91% | -42.47% | -29.23% | -31.12% |
| Return on Capital Employed (ROCE) | 31.70% | 24.60% | -26.30% | -69.30% | -55.00% | -46.30% |
| Earnings Yield | 38.65% | 17.79% | -3.65% | -22.49% | -17.06% | -16.29% |
| FCF Yield | 58.31% | 18.86% | -10.32% | -18.80% | -14.12% | -13.04% |
| Buyback Yield / Dilution | -40.04% | -36.41% | -15.65% | -26.39% | -6.93% | -31.87% |