---
schema_version: "secwatch.filing_event.v1"
accession: "0001161697-23-000567"
form_type: "8-K"
ticker: "KRMD"
cik: "0000704440"
company_name: "KORU Medical Systems, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T11:57:40.716866+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# KORU Medical Q3 revenue down 9.8% YoY; cuts full-year guidance to $28.0-$28.5M

## Summary
- Q3 net revenue $7.0M (-9.8% YoY); net loss $1.4M ($0.03/share) vs $1.2M loss prior year.
- Full-year 2023 revenue guidance cut to $28.0-$28.5M from $31.0-$32.5M; gross margin reaffirmed 58%-60%.
- FDA cleared FREEDOM60 Infusion System for use with Hizentra 50 mL prefilled syringes; first such clearance.
- Appointed Ken Miller as CCO effective Nov 6; base salary $360K, bonus up to 50%, and 400,000 stock options.

## SEC filing metadata
- accession: 0001161697-23-000567
- form_type: 8-K
- ticker: KRMD
- cik: 0000704440
- company_name: KORU Medical Systems, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/704440/000116169723000567/0001161697-23-000567-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/704440/000116169723000567/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001161697-23-000567
- JSON: https://secwatch.observer/filing/0001161697-23-000567.json
- Plain text: https://secwatch.observer/filing/0001161697-23-000567.txt

## Key facts
- Earnings Releases
  KORU Medical Systems, Inc. reported third quarter ended September 30, 2023 results: revenue $7.0 million, net income $1.4 million, or $(0.03) per diluted share. Guidance reaffirmed.
  - Period: third quarter ended September 30, 2023
  - Revenue: $7.0 million
  - Net income: $1.4 million, or $(0.03) per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: life for patients, today reported financial results for the third quarter ended September 30, 2023 and updates full year 2023 outlook. Highlights: ● Third quarter net revenue of $7.0 million, a 10% decline versus prior year ● Novel Therapies net revenue decline of $0.6 million was impacted primarily by a large clinical trial order in the prior year and timing of
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000567/0001161697-23-000567-index.htm
- Earnings Releases
  KORU Medical Systems, Inc. reported full year 2023 results: revenue $28.0 to $28.5 million. Guidance reaffirmed.
  - Period: full year 2023
  - Revenue: $28.0 to $28.5 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: ● Continued strategic, operational expense discipline, ending the quarter with $10.8 million in cash and cash equivalents ● Revised full year 2023 net revenue guidance to $28.0 to $28.5 million, reaffirmed gross margin guidance between 58%-60% for full-year and a planned Q4 exit between 60%-62%, and increased year-end cash balance guidance to greater
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000567/0001161697-23-000567-index.htm
- Executive change
  Kenneth Miller was appointed as Chief Commercial Officer at KORU Medical Systems, Inc..
  - Action: appointed
  - Role: Chief Commercial Officer
  source text: Kenneth Miller, age 55, has been appointed by KORU Medical Systems, Inc. (the “Company”) to serve in the newly created position of Chief Commercial Officer commencing November 6, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/704440/000116169723000567/0001161697-23-000567-index.htm

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