KORU Medical Q2 revenue $6.9M (+6% YoY); cuts FY2023 revenue guidance to $31.0-32.5M

2023 Second Quarter Financial Results Three Months Ended June 30, Change from Prior Year 2023 2022 $ % Net Revenues Domestic Core $ 5,388,172 $ 4,996,791 $ 391,381 $ 7.8% International Core 1,117,004 951,485 165,519 17.4% Novel Therapies 430,754 598,352 (167,598 ) (28.0)% Total $ 6,935,930 $ 6,546,628 $ 389,302 $ 5.9% Total net revenue increased $0.4 million, or 6%, for the three months ending June 30, 2023, compared to last year. Domestic Core growth of 8% was primarily driven by increased growth in consumables and pumps, new accounts, and increased prefilled syringe adoption. International Core growth of 17% was driven by strength across several EU markets, and growing global immunoglobulin drug volume availability. Novel Therapies net revenue declined by 28% in primarily related to strong non-recurring engineering revenues in the comparable quarter last year as well as the timing of 2023 pipeline wins. Gross profit increased $0.5 million or 16% in the three months ended June 30, 202

Reducing full year 2023 net revenue guidance to $31.0 and $32.5 million, representing growth in the range of 11%-17% from prior guidance of $32.5 - $33.5 million, representing growth in the range of 17-20% ● Reaffirming 2023 gross margin between 58%-60% and a planned 2023 exit between 60%-62% ● Reaffirming cash balance at year-end 2023 greater than $10.0 million