KORU Medical Q1 revenue $7.4M (+18% YoY); reaffirms FY2023 guidance

KORU Medical Systems, Inc.

2023-Q1 EPS reported -$0.05 revenue$7,392,605

Q1 net revenue $7.4M, up 18% YoY; net loss $2.4M ($0.05 diluted) vs $2.5M loss prior year.
U.S. Core revenue $5.7M (+15%), International Core $1.1M (+23%), Novel Therapies $0.6M (+62%).
Gross margin 56.1% (down from 58%), but reaffirms FY margin 58-60% and exit at 60-62%.
Reaffirms FY2023 revenue guidance $32.5-33.5M (17-20% growth); cash >$10M year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KORU Medical Systems, Inc. reported first quarter ended March 31, 2023 results: revenue $7.4 million, net income $2.4 million, EPS $(0.05) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $7.4 million
Net income: $2.4 million
EPS: $(0.05) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of life for patients, today reported financial results for the first quarter ended March 31, 2023. Highlights: ● First quarter net revenue growth versus prior year of 18% to $7.4 million, marking the sixth consecutive quarter of double-digit growth with strength in all three businesses ● U.S. Core business growth of 15% outpacing the subcutaneous immunoglobulin

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Source: SEC EDGAR

accession 0001161697-23-000280

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