secwatch.observer — SEC 8-K summary
======================================

Issuer:     KORU Medical Systems, Inc. (KRMD)
CIK:        0000704440
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001161697-23-000429
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/0001161697-23-000429-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/704440/000116169723000429/form_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001161697-23-000429

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer