Repro-Med Systems, Inc. ( (KRMD) ) has released its Q3 earnings. Here is a breakdown of the information Repro-Med Systems, Inc. presented to its investors.
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KORU Medical Systems, Inc., a prominent player in the medical technology sector, specializes in developing and commercializing large volume subcutaneous infusion solutions that enhance patient care.
In its latest financial report for the third quarter of 2024, KORU Medical Systems recorded a significant increase in net revenues, marking the third consecutive quarter of double-digit growth, and raised its full-year financial guidance. The company reported net revenues of $8.2 million, reflecting a 17% increase compared to the previous year, and highlighted substantial growth in its novel therapies segment.
Key financial metrics from the report include a gross profit of $5.2 million, a 19% increase from the previous year, and an improved gross margin of 63%. The company also noted an ending cash balance of $8.8 million, showcasing a substantial improvement in cash burn rate. The report emphasized the company’s strategic focus on expanding its novel therapies business, which saw a remarkable 276% growth.
Despite a net loss of $1.6 million for the quarter, KORU Medical continues to demonstrate operational strength and strategic execution, leading to increased revenue and gross margin forecasts for the full year. The company’s management remains optimistic about achieving cash flow breakeven by year-end and anticipates a positive cash flow for 2025.
Looking forward, KORU Medical is poised to continue its growth trajectory by leveraging its robust portfolio and strategic collaborations, as it aims to expand its market share in the subcutaneous infusion sector.
