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CorMedix Q1 2025 Earnings Report
CorMedix Inc. reported its first quarter 2025 financial results, highlighting strong net revenue and profitability driven by DefenCath sales.
Key Takeaways
CorMedix Inc. announced a strong first quarter for 2025, with net revenue reaching $39.1 million and net income of $20.6 million, a significant improvement from a net loss in the prior year. The company also reported positive adjusted EBITDA and cash flow from operations, driven by successful implementation of DefenCath in outpatient dialysis.
Net sales for Q1 2025 were $39.1 million, primarily from DefenCath.
The company achieved profitability with a net income of $20.6 million and adjusted EBITDA of $23.6 million.
DefenCath inpatient institutional shipments doubled over the past three months, with continued growth anticipated.
CorMedix commenced its Phase 3 study for CLABSIs in adult patients receiving Total Parenteral Nutrition (TPN).
Forward Guidance
CorMedix expects to achieve the high-end of its previously announced first half net sales guidance, driven by current order trends and inventory tracking.
Positive Outlook
- Expects to be at the high-end of the first half net sales guidance of $62 million to $70 million.
- Continued inpatient growth anticipated throughout 2025.
- Dedicated inpatient sales team is fully staffed, trained, and operational.
- Commencement of Phase 3 study for CLABSIs in TPN patients.
- Sufficient resources to fund operations for at least twelve months.
Challenges Ahead
- Selling and marketing expense decrease is considered temporary, with normalization expected in Q2 2025.
- No other specific negative forward guidance was provided in the report.
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