KORU Medical reports 19% revenue growth in 2022, guides 17-20% growth for 2023

KORU Medical Systems, Inc.

Q4 2022 revenue $7.34M (+13.2% YoY); FY2022 revenue $27.9M (+18.8% YoY).
FY2022 net loss $8.6M ($0.19 loss per share) vs $4.6M loss in 2021.
Novel Therapies revenue grew 329.8% to $2.5M; Core business grew 11%.
Cash $17.4M at year-end; 2023 guidance: revenue $32.5-$33.5M (17-20% growth), gross margins 58-60%, cash >$10M.
Expects 6 new Novel Therapies collaborations and two 510(k) filings in H2 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KORU Medical Systems, Inc. reported fourth quarter and full year ended December 31, 2022 results: revenue $7.3 million, net income Net loss for the fourth quarter of 2022 was $ 2.0 million, EPS $(0.04) per diluted share. Guidance raised.

Period: fourth quarter and full year ended December 31, 2022
Revenue: $7.3 million
Net income: Net loss for the fourth quarter of 2022 was $ 2.0 million
EPS: $(0.04) per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

fourth quarter and full year ended December 31, 2022. The Company also issued guidance for the full year 2023. Recent Highlights: ● Fourth quarter net revenue growth of 13% to $7.3 million, marking the fifth consecutive quarter of double-digit growth, and full year net revenue growth of 19% to $27.9 million ● Novel Therapies business finished the year with 14 total

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KORU Medical Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001161697-23-000156

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