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Cormedix (CRMD)
NASDAQ:CRMD
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Earnings Data
Report Date
Apr 01, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.03Last Year’s EPS
-$0.25Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -33.92%
|Next Earnings Date:Apr 01, 2025
Earnings Call Sentiment|Neutral
The earnings call demonstrated strong revenue performance and market penetration of DefenCath, along with positive future EBITDA expectations. However, these positives are counterbalanced by increased operating expenses, potential revenue variability, and high customer concentration. Overall, the call reflects a cautiously optimistic outlook with significant achievements and some areas of concern.Company Guidance
During the CorMedix Inc. Q3 2024 earnings call, the company reported a net revenue of $11.5 million, surpassing street consensus, attributed to their product DefenCath's initial full-quarter shipments and outpatient utilization. The company forecasted being EBITDA positive for Q4 2024, although revenue guidance was not provided due to potential variability in purchase timing from new large dialysis organization (LDO) customers. CorMedix highlighted agreements with additional dialysis operators, anticipated to expand DefenCath’s availability to approximately 60% of U.S. dialysis clinics by the end of Q4. The call also covered the company's R&D plans, including the anticipated FDA submission for a TPN clinical protocol by mid-November and future sales potential in the range of $150 million to $200 million. The financial report revealed a Q3 net loss of $2.8 million, a significant improvement from the $9.7 million loss in Q3 2023, driven by gross profits from DefenCath sales and an increase in operating expenses due to commercial launch activities.Exceeding Revenue Expectations
Net revenue for Q3 2024 was $11.5 million, surpassing street consensus, largely driven by anchor customer U.S. Renal's implementation of DefenCath.
Strong Initial Market Penetration
DefenCath is now available in approximately 60% of dialysis clinics in the U.S., with new agreements with two midsized and one large-scale dialysis operators.
Positive EBITDA Expected
The company expects to be EBITDA positive for Q4 2024 based on current forecasts and customer order timelines.
Clinical Development Progress
Supportive FDA feedback received for TPN clinical pathway; protocol to be submitted by mid-November with operationalization planned for H1 2025.
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CRMD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CRMD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $12.97 | $10.05 | -22.51% |
| Aug 14, 2024 | $3.78 | $4.92 | +30.16% |
| May 09, 2024 | $5.70 | $5.41 | -5.09% |
| Mar 12, 2024 | $3.52 | $3.42 | -2.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cormedix (CRMD) report earnings?
Cormedix (CRMD) is schdueled to report earning on Apr 01, 2025, TBA Not Confirmed.
What is Cormedix (CRMD) earnings time?
Cormedix (CRMD) earnings time is at Apr 01, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRMD EPS forecast?
CRMD EPS forecast for the fiscal quarter 2024 (Q4) is $0.03.
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