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KORU Medical Systems, Inc. develops, manufactures, and commercializes subcutaneous infusion solutions primarily for the subcutaneous drug delivery market in the United States and internationally. The company offers the FREEDOM infusion systems to deliver therapies to patients with chronic illnesses, such as primary immunodeficiency diseases (PIDD), chronic inflammatory demyelinating polyneuropathy (CIDP), secondary immunodeficiency disorder (SIDD), and paroxysmal nocturnal hemoglobinuria (PNH). Its products include the FREEDOM60 Syringe Driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing. The company was formerly known as Repro Med Systems, Inc. and changed its name to KORU Medical Systems, Inc. in March 2022. KORU Medical Systems, Inc. was incorporated in 1980 and is headquartered in Mahwah, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $41M | $-2M | $-3M | $-0M | -15.5% | 22.2% | -56.5% |
| 2024 | $34M | $-6M | $-6M | $-2M | -36.1% | 18.0% | -55.9% |
| 2023 | $29M | $-9M | $-14M | $-6M | -67.5% | 2.2% | 58.7% |
| 2022 | $28M | $-10M | $-9M | $-8M | -27.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 27.90 | 28.52 | 33.65 | 41.13 |
| Operating Revenue | - | 27.90 | 28.52 | 33.65 | 41.13 |
| Cost Of Revenue | - | 12.53 | 11.81 | 12.31 | 15.52 |
| Gross Profit | - | 15.37 | 16.71 | 21.33 | 25.60 |
| Operating Expense | - | 26.15 | 26.98 | 27.78 | 28.58 |
| Research And Development | - | 4.96 | 5.74 | 5.26 | 4.39 |
| Selling General And Administration | - | 20.61 | 20.37 | 21.63 | 23.38 |
| Total Expenses | - | 38.68 | 38.79 | 40.09 | 44.10 |
| Operating Income | - | -10.78 | -10.27 | -6.45 | -2.97 |
| Total Operating Income As Reported | - | -10.78 | -10.27 | -6.45 | -2.97 |
| EBITDA | - | -10.19 | -9.40 | -5.56 | -2.16 |
| Normalized EBITDA | - | -10.15 | -9.33 | -5.51 | -2.22 |
| EBIT | - | -10.78 | -10.27 | -6.45 | -2.97 |
| Interest Income | - | 0.15 | 0.56 | 0.44 | 0.29 |
| Net Interest Income | - | 0.15 | 0.56 | 0.44 | 0.29 |
| Other Non Operating Income Expenses | 0.68 | - | - | -0.02 | 0.01 |
| Other Income Expense | - | -0.04 | -0.06 | -0.06 | 0.06 |
| Interest Income Non Operating | - | 0.15 | 0.56 | 0.44 | 0.29 |
| Net Non Operating Interest Income Expense | - | 0.15 | 0.56 | 0.44 | 0.29 |
| Pretax Income | - | -10.68 | -9.77 | -6.06 | -2.62 |
| Tax Provision | - | -2.01 | 3.97 | 0 | 0.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.01 | -0.01 | -0.01 | 0.01 |
| Net Income Continuous Operations | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Net Income From Continuing And Discontinued Operation | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Net Income From Continuing Operation Net Minority Interest | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Net Income | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Net Income Common Stockholders | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Net Income Including Noncontrolling Interests | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Normalized Income | - | -8.63 | -13.69 | -6.03 | -2.68 |
| Diluted NI Availto Com Stockholders | - | -8.66 | -13.74 | -6.07 | -2.64 |
| Basic Average Shares | - | 45 | 45.60 | 45.80 | 46.19 |
| Diluted Average Shares | - | 45 | 45.60 | 45.80 | 46.19 |
| Reconciled Depreciation | - | 0.59 | 0.87 | 0.89 | 0.81 |
| Reconciled Cost Of Revenue | - | 12.53 | 11.81 | 12.31 | 15.52 |
| Total Unusual Items | - | -0.04 | -0.06 | -0.05 | 0.05 |
| Total Unusual Items Excluding Goodwill | - | -0.04 | -0.06 | -0.05 | 0.05 |
| Special Income Charges | 0 | 0 | -0.06 | -0.02 | - |
| Gain On Sale Of Security | - | -0.04 | -0.01 | -0.05 | 0.05 |
| Depreciation Amortization Depletion Income Statement | - | 0.59 | 0.87 | 0.89 | 0.81 |
| Depreciation And Amortization In Income Statement | - | 0.59 | 0.87 | 0.89 | 0.81 |
| Gain On Sale Of Ppe | 0 | 0 | -0.06 | -0.02 | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| KORU Medical Systems, Inc.this co. | KRMD | $190M | -72.09 | 11.15 | -15.5% | -85.47 |
| Alector, Inc. | ALEC | $201M | - | 6.56 | -466.3% | - |
| Nkarta, Inc. | NKTX | $198M | - | 0.63 | -33.3% | - |
| Anika Therapeutics, Inc. | ANIK | $197M | -18.09 | 1.37 | -7.6% | -31.11 |
| Lucid Diagnostics Inc. | LUCD | $195M | - |
| - |
| - |
| - |
| - |
| - |
| - |
| 17.79 |
| -645.1% |
| - |
| Cartesian Therapeutics, Inc. | RNAC | $192M | -1.48 | -1.52 | 103.2% | -0.96 |
| Tonix Pharmaceuticals Holding Corp. | TNXP | $189M | -1.53 | 0.77 | -50.6% | 0.14 |
| MediWound Ltd. | MDWD | $186M | -7.78 | 4.26 | -54.7% | -8.81 |
| Stereotaxis, Inc. | STXS | $184M | -8.49 | 13.63 | -160.5% | -8.55 |
| Peer Median | - | -7.78 | 2.81 | -52.7% | -8.55 | |