CorMedix Q4 2024 Earnings Report
Key Takeaways
CorMedix recorded net revenue of $31.2 million in Q4 2024, supported by robust DefenCath sales. The company achieved its first profitable quarter with a net income of $13.5 million and adjusted EBITDA of $15.3 million. Operating expenses increased slightly due to scaling commercial activities. The company is focused on expanding inpatient and outpatient presence and anticipates continued growth into 2025.
Q4 2024 net revenue reached $31.2 million, driven by DefenCath sales.
Net income was $13.5 million, the company's first profitable quarter.
Adjusted EBITDA came in at $15.3 million.
Operating expenses increased to $17.1 million, up 9% year-over-year.
CorMedix
CorMedix
Forward Guidance
CorMedix anticipates continued growth in 2025, with preliminary net revenue guidance of $50–$60 million for the first half, supported by expanded hospital utilization and new inpatient sales efforts.
Positive Outlook
- Expected first-half 2025 revenue between $50 million and $60 million.
- Q1 2025 revenue projected to exceed $33 million.
- Ongoing expansion of inpatient sales team through Syneos Health partnership.
- Initiation of Phase 3 study for DefenCath in TPN patients in Q2 2025.
- Marketing efforts for VA facility penetration commenced in Q1 2025.
Challenges Ahead
- Increased operating expenses from commercial expansion efforts.
- Potential regulatory risks with ongoing clinical studies.
- Foreign exchange fluctuations could impact revenue.
- Market adoption challenges in new hospital settings.
- Dependency on successful execution of new clinical trials for pipeline growth.