KORU Medical Q2 revenue record $8.4M, up 22%; raises FY2024 guidance

KORU Medical Systems, Inc.

2024-Q2 EPS reported -$0.06 revenue$16,627,887

Q2 net revenues of $8.4M, a 22% YoY increase; core business grew 20% driven by SCIg market growth and share gains.
Gross margin expanded to 65% from 56.1% YoY, a 890bps improvement; gross profit up 41% to $5.5M.
Net loss improved to $1.0M ($0.02 per share) from $2.5M loss ($0.05 per share) in Q2 2023; adjusted EBITDA loss narrowed to $0.4M.
Raised FY2024 revenue guidance to $32.0-$32.5M (12-14% growth) and gross margin guidance to 61-62%.
Cash balance $10.5M; quarterly cash usage $0.3M; reaffirmed cash flow breakeven in Q4 2024 and positive cash in 2025.

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