Repro-Med Systems, Inc. ( (KRMD) ) has released its Q4 earnings. Here is a breakdown of the information Repro-Med Systems, Inc. presented to its investors.
KORU Medical Systems, Inc., a medical technology company specializing in large volume subcutaneous infusion solutions, has reported its financial results for the fourth quarter and full year 2024, showcasing record revenues and gross profit. The company, known for its patient-centric approach, operates primarily in the healthcare sector, focusing on innovative infusion systems for home and clinical use.
In its latest earnings report, KORU Medical Systems announced a significant increase in net revenues, reaching $33.6 million for the full year 2024, marking an 18% rise compared to the previous year. The fourth quarter alone saw net revenues of $8.8 million, a 23% increase year-over-year. The company also highlighted a notable improvement in gross margins, which rose to 63.4% for the year, driven by manufacturing efficiencies and favorable sales mix.
Key financial metrics from the report include a 16% growth in the Core business revenues and a remarkable 62% increase in Novel Therapies revenues for the full year. The company also reported a reduced net loss of $6.1 million for 2024, a significant improvement from the $13.7 million loss in 2023. Additionally, KORU Medical entered into several new collaborations, enhancing its pipeline and market reach.
Looking ahead, KORU Medical Systems has issued guidance for 2025, projecting net revenues between $38.0 million and $39.0 million, with expected growth of 13% to 16%. The company anticipates maintaining a gross margin between 61% and 63% and aims to achieve positive operational cash flow for the year. The management remains optimistic about continuing its growth trajectory by expanding market share and increasing collaborations.