KORU Medical Q2 net sales up 18.4% to $6.5M; raises FY revenue guidance but lowers margin forecast

KORU Medical Systems, Inc.

2022-Q2 EPS reported -$0.12 revenue$12,790,958

Net sales $6.5M (+18.4% YoY) driven by novel therapies (NRE milestone) and core growth; backorders $0.3M.
GAAP net loss $2.9M (EPS -$0.07) vs $1.1M loss a year ago; adjusted EPS -$0.06.
Raises FY 2022 revenue guidance to $27.0–27.5M (from $26.5–27.0M); lowers gross margin guidance to 55–60% (from 60%).
Manufacturing transfer to contract manufacturer delayed to Q1 2023 (from Q4 2022); cash $18.3M at quarter end.
Expanded novel therapies pipeline with two new biopharmaceutical agreements.

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