CorMedix reports Q3 net income of $108.6M, raises FY 2025 pro forma revenue guidance to $390-410M

CorMedix Inc.

2025-Q3 EPS reported $1.97 vs consensus $0.66 ▲ beat (+199.3%)

Net revenue of $104.3M (pro forma $130.8M) driven by DefenCath sales of $88.8M; diluted EPS $1.26.
FY 2025 pro forma net revenue guidance raised to $390-410M; Q4 guidance $115-135M; adjusted EBITDA guidance $220-240M.
One-time $59.7M tax benefit from NOL carryforwards realization contributed to net income.
Melinta acquisition closed Aug 29; integration ahead of schedule with ~$30M annual synergy run-rate expected by end 2025.
Cash and short-term investments $55.7M at Sept 30; projecting year-end ~$100M; Phase III ReSPECT enrollment completed.

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