KORU Medical Systems Inc (OQ:KRMD)

Business Focus: Medical Equipment, Supplies & Distribution

Sector:  Healthcare Industry:  Medical Equipment, Supplies & Distribution
 
See Regulatory Filings on SEC
Company Contact
Address: 100 Corporate Drive
MAHWAH NJ 07430
Tel: N/A
Website: https://www.korumedical.com
IR: See website
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Key People
Linda M. Tharby
President, Chief Executive Officer, Director 		Thomas Adams
Chief Financial Officer, Treasurer, Company Secretary 		Brian Case
Chief Technology Officer
Business Overview
KORU Medical Systems, Inc. designs, manufactures, and markets proprietary portable and advanced medical devices primarily for the subcutaneous drug delivery market. It is focused on home and specialty infusion solutions. The Company's focus is primarily concentrated on its mechanical infusion products, the FREEDOM Infusion Systems, which include the FREEDOM60 Syringe Driver, the FreedomEdge Syringe Driver, HIgH-Flo Subcutaneous Safety Needle Sets, and Precision Flow Rate Tubing. The devices are used for infusions administered at home and in alternate care settings. Its infusion devices work together as a system to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases (PIDD) and chronic inflammatory demyelinating polyneuropathy (CIDP). The FREEDOM System operates at a lower pressure than an electrical, volumetric pump and maintains a balance between what a patient's subcutaneous tissues can tolerate and what the system delivers.
Financial Overview
For the fiscal year ended 31 December 2023, KORU Medical Systems Inc revenues increased 2% to $28.5M. Net loss increased 59% to $13.7M. Revenues reflect Domestic Core segment increase of 6% to $22.4M, International Core segment increase of 10% to $4.6M, International segment increase of 12% to $4.8M, Domestic segment increase of less than 1% to $23.7M. Higher net loss reflects Research and development increase of 16% to $5.7M (expense).
Employees: 82 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $84.34M as of Dec 31, 2023
Annual revenue (TTM): $28.52M as of Dec 31, 2023
EBITDA (TTM): -$9.40M as of Dec 31, 2023
Net annual income (TTM): -$13.74M as of Dec 31, 2023
Free cash flow (TTM): -$5.71M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 45,710,500 as of Mar 13, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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