KORU Medical Q1 revenue up 11% to $8.2M; gross margin expands 620bps to 62.3%

KORU Medical Systems, Inc.

2024-Q1 EPS reported -$0.04 revenue$8,197,798

Net revenues of $8.2M, +10.9% YoY; Core business grew 13.6%, driven by 63% International increase.
Gross margin 62.3% vs 56.1% YoY, aided by outsourced manufacturing and US site consolidation.
Net loss narrowed to $1.9M ($0.04/share) from $2.4M; Adj EBITDA loss improved to $0.9M.
Reaffirmed FY2024 revenue guidance of $31.2-32.2M (10-13% growth); gross margin 59-61% expected.
Added a novel oncology therapy collaboration, bringing total to 16, with 3 YTD.

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 0.95

KORU Medical Systems, Inc. reported full year 2024 results: revenue $31.2 million to $32.2 million. Guidance reaffirmed.

Period: full year 2024
Revenue: $31.2 million to $32.2 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Reaffirmed full year 2024 revenue guidance of $31.2 million to $32.2 million, representing growth of 10% to 13% over the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KORU Medical Systems, Inc. reported first quarter ended March 31, 2024 results: revenue 8.2 million, net income net loss of $1.9 million, EPS $(0.04) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: 8.2 million
Net income: net loss of $1.9 million
EPS: $(0.04) per diluted share
Result: reported results

Exact text from the filing

large volume subcutaneous infusion solutions, today reported financial results for the first quarter ended March 31, 2024. Recent Highlights ● First quarter 2024 net revenues of $8.2 million, an 11% increase over the prior year and record high quarterly revenues ● Core business (U.S. and International) growth of 14% over the prior year, driven by overall SCIg market

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Source: SEC EDGAR

accession 0001161697-24-000225

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