---
schema_version: "secwatch.filing_event.v1"
accession: "0001161697-23-000429"
form_type: "8-K"
ticker: "KRMD"
cik: "0000704440"
company_name: "KORU Medical Systems, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T15:26:05.610050+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# KORU Medical Q2 prelim revenue $6.9M (+6% YoY); cuts FY2023 guidance to $31-32.5M; CFO resigns

## Summary
- Q2 2023 preliminary net revenue ~$6.9M, up 6% YoY; Domestic Core +8%, International Core +17%, Novel Therapies -28%.
- FY2023 revenue guidance lowered to $31-32.5M (11-17% growth) due to weaker U.S. SCIg market and Novel Therapies timing.
- Cash $11.7M at June 30; reaffirms FY2023 gross margin 58-60% and year-end cash over $10M.
- CFO Andy LaFrence resigned July 27 for personal/family reasons; Thomas Adams (VP FP&A, interim CFO) appointed CFO effective Aug 1.
- Adams gets base salary $325k, 50% bonus target, nonqualified options for 100k shares at $2.54, four-year vesting.

## SEC filing metadata
- accession: 0001161697-23-000429
- form_type: 8-K
- ticker: KRMD
- cik: 0000704440
- company_name: KORU Medical Systems, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/0001161697-23-000429-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001161697-23-000429
- JSON: https://secwatch.observer/filing/0001161697-23-000429.json
- Plain text: https://secwatch.observer/filing/0001161697-23-000429.txt

## Key facts
- Earnings Releases
  KORU Medical Systems, Inc. reported second quarter ended June 30, 2023 results: revenue approximately $6.9 million. Guidance reaffirmed.
  - Period: second quarter ended June 30, 2023
  - Revenue: approximately $6.9 million
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: revenues for the second quarter 2023 and provided business, outlook and executive updates. The Company reported total net revenues for the second quarter 2023 of approximately $6.9 million, representing growth of approximately 6% compared to the prior year period. Domestic Core revenues increased approximately 8%, International Core revenues increased approximately
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/0001161697-23-000429-index.htm
- Executive change
  Andrew D. C. LaFrence resigned as Chief Financial Officer at KORU Medical Systems, Inc..
  - Action: resigned
  - Role: Chief Financial Officer
  source text: On and effective as of July 27, 2023, Andrew D. C. LaFrence, the Company’s Chief Financial Officer, resigned his employment for personal and family reasons.
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/0001161697-23-000429-index.htm
- Executive change
  Thomas Adams was appointed as Chief Financial Officer at KORU Medical Systems, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On and effective as of August 1, 2023, Thomas Adams, the Company’s Vice President of Financial Planning and Analysis and formerly interim Chief Financial Officer, was appointed as the Company’s Chief Financial Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/0001161697-23-000429-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.