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CorMedix Inc

CRMD Healthcare Biotechnology

CorMedix Inc’s revenue for fiscal 2025 (year ended December 2025) was $311.7 million, up 617.0% from fiscal 2024.

Revenue
+156.5%
EPS
+13.8%
Free cash flow
+185.9%

Quarter to June 2026, against a year earlier

5.30 0.07 +1.34%
Market cap
$407.6M
P/E
2.2×
Fwd P/E
11.5×
Dividend yield
—
F-score
n/a
Altman Z
2.15
Beneish M
12.80
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 2.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 1 — — — — — — — — — —
Insider Ownership 8.88%

Capital & Financial Ratios $m

Size
Market Cap 407.64
Revenue ttm 462.25
Net income ttm 187.17
Free cash flow ttm 250.42
Net debt Q (111.54)
Valuation
P/E 2.20
Forward P/E 11.50
Price / sales 0.90
Forward P/S Powerpack
Price / FCF 1.66
Price / book 0.90
Financial health
Current ratio Q 2.56 (at or above 1.5: strong)
Debt / equity Q 0.32 (at or below 0.5: strong)
Interest coverage Q 32.24
Growth
Revenue growth Q +156.52% (above 0%: growing)
Operating income growth Q +119.56% (above 0%: growing)
EPS, this year −75.82% (below 0%: weak)
EPS, next year A −94.93% (below 0%: weak)
Revenue, next year A +8.15%
EPS, past 5 yrs —
EPS, next 5 yrs A −28.23% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 356×; over the ten years it ranged from −6.8× in 2018 to 3,746× in 2024.
P/S against its own 10 years 0.07%
10-year low 10-year high
P/B against its own 10 years 0.08%
10-year low 10-year high
EV/Sales against its own 10 years 0.07%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 76 52 149 257
Receivables — 52 171 161
Inventory 2 8 30 39
Other — — — —
79 115 367 481
2023 2024 2025 Q'26
Payables 4 2 8 10
ST’ Debt — — — —
Other — — 3 4
11 34 174 187

Compound Annual Growth %

10y 5y 3y
Sales 109.73% 305.79% 1,077.55%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 28.12% 55.75% 94.53%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.26 Actual 0.29

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.48 0.57 Beat by 0.09
Q4 FY25 0.86 0.61 Miss by 0.25
Q1 FY26 0.35 0.43 Beat by 0.08
Q2 FY26 0.26 0.29 Beat by 0.03
Q3 FY26 −0.09 — Reports 11 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.43 0.29 — — —
’25 0.30 0.28 1.26 0.16 2.04
’24 (0.25) (0.25) (0.05) 0.22 (0.30)
’23 (0.24) (0.25) (0.17) (0.26) (0.91)
’22 (0.18) (0.19) (0.17) (0.20) (0.74)
’21 (0.20) (0.12) (0.22) (0.20) (0.75)
’20 (0.21) (0.14) (0.22) (0.19) (0.77)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 127 102 — — —
’25 39 40 104 129 312
’24 — 1 11 31 43
’22 0 0 0 0 0
’21 0 0 0 0 0
’20 0 0 0 0 0
’19 0 0 0 0 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 42 86 — — —
’25 20 30 31 94 175
’24 (17) (14) (14) (6) (51)
’23 (10) (9) (9) (11) (38)
’22 (7) (5) (6) (6) (24)
’21 (7) (3) (6) (6) (21)
’20 (8) (1) (7) (6) (22)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 42 86 — — —
’25 20 30 30 93 173
’24 (17) (14) (14) (6) (51)
’23 (10) (9) (9) (11) (39)
’22 (7) (5) (6) (6) (25)
’21 (7) (3) (6) (6) (23)
’20 (8) (1) (7) (6) (22)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 0 0 0 0 0 0 0 — 43 312 462 +123.5% 337 289 345 +3.5%
Gross margin, % (63.63) 65.11 7.68 (31.77) 14.38 22.00 94.34 — 92.66 88.46 82.78 +152.1 pt
EBT (25) (33) (27) (21) (27) (29) (30) (46) (19) 150 203 n/m
EBT margin, % (10,996.70) (10,024.26) (6,242.35) (7,586.97) (11,370.03) (15,432.37) (46,310.86) 0.00 (44.45) 48.13 44.00 +11,044.8 pt
Net income (25) (33) (27) (16) (22) (28) (30) (46) (18) 163 187 n/m
Per share, $
Per share, $ Revenue 0.03 0.03 0.02 0.01 0.01 0.01 0.00 0.00 0.74 4.33 5.89 +74.1%
Earnings (3.25) (3.00) (1.50) (1.80) (0.77) (0.75) (0.74) (0.91) (0.30) 2.25 2.41 n/m
Cash flow (2.93) (2.59) (1.33) (0.62) (0.77) (0.56) (0.60) (0.75) (0.86) 2.43 3.24 n/m
Capex (0.01) (0.01) 0.00 0.00 0.00 (0.04) (0.01) (0.01) 0.00 (0.03) (0.04) +16.9%
Free cash flow (2.94) (2.61) (1.33) (0.62) (0.77) (0.60) (0.61) (0.76) (0.86) 2.40 3.19 n/m
Book value 2.35 0.65 0.28 0.98 1.55 1.67 1.37 1.38 1.44 5.63 5.87 +10.2%
Shares, m 8 11 18 24 29 38 40 51 59 72 76 +28.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 5.26 2.20 0.6
P/S 289.71 88.72 267.37 620.64 887.19 897.28 2,574.09 — 10.96 2.69 0.90 626.5
P/B 3.64 4.06 23.29 7.44 4.80 2.73 3.06 — 5.63 2.07 0.90 6.3
EV/Sales 198.96 51.82 240.22 519.95 696.40 558.04 1,683.43 — 9.79 2.68 0.66 440.1
EV/FCF (2.00) (0.59) (4.35) (9.76) (7.54) (4.72) (4.48) — (8.39) 4.83 1.21 (4.1)
Cash, $m
Cash, $m Operating cash flow (22) (29) (24) (15) (22) (21) (24) (38) (51) 175 254 n/m
Capex 0 0 0 0 0 (1) 0 0 0 (2) (4) +50.0%
Free cash flow (22) (29) (24) (15) (22) (23) (25) (39) (51) 173 250 n/m
Balance, $m
Balance, $m Working capital 18 7 11 24 44 61 53 68 81 193 293 +30.4%
Net debt (20) (12) (12) (29) (46) (65) (58) (76) (52) (3) (112) (18.2%)
Shareholders’ equity 18 7 5 24 44 63 55 70 85 405 461 +41.5%
Returns, %
Returns, % ROA (83.53) (186.71) (166.23) (180.27) (55.92) (47.71) (45.35) (64.32) (17.85) 34.51 32.36 +118.0 pt
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (42.38) 23.34 38.84 +23.3 pt
ROE (95.10) (264.01) (442.49) (304.66) (64.91) (52.72) (50.40) (74.02) (23.17) 66.56 54.93 +161.7 pt
People
People Employees 14 14 22 30 35 30 40 83 65 191 — +33.7%
Revenue/emp, $m 0.02 0.02 0.02 0.01 0.01 0.01 0.00 0.00 0.67 1.63 — +67.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

CorMedix Inc vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PRTCY PureTech Health PLC Sponsored ADR $424.0M — (loss-making) — (loss-making) −44.60% (below 0%: shrinking) +66.43% (above 0%: growing) +19.27% (above 0%: growing) 2.83% 0.00% Compare
OCS Oculis Holding AG $421.6M — (loss-making) — (loss-making) −97.17% (below 0%: shrinking) n/m −20.85% (below 0%: shrinking) 100.00% (338,436.05%) Compare
PHAT Phathom Pharmaceuticals, Inc. $413.0M — (loss-making) — (loss-making) +71.14% (above 0%: growing) n/m +112.23% (above 0%: growing) 78.32% (0.10%) Compare
CRMD CorMedix Inc $407.6M 2.2× 11.5× +156.52% (above 0%: growing) +13.79% (above 0%: growing) +185.90% (above 0%: growing) 75.66% 42.10%
ASMB Assembly Biosciences, Inc. $407.2M — (loss-making) — (loss-making) +38.94% (above 0%: growing) n/m +7.58% (above 0%: growing) 100.00% (47.44%) Compare
PRTA Prothena Corporation plc $405.1M — (loss-making) 71.4× −74.33% (below 0%: shrinking) n/m +70.34% (above 0%: growing) 100.00% (3,035.65%) Compare
RLMD Relmada Therapeutics, Inc. $402.1M — (loss-making) — — n/m −50.06% (below 0%: shrinking) 0.00% 0.00% Compare
BLSM BlossomHill Therapeutics, Inc. $392.6M — (loss-making) — — n/m — — 0.00% Compare
EDIT Editas Medicine, Inc. $391.6M — (loss-making) — (loss-making) +232.31% (above 0%: growing) n/m +40.72% (above 0%: growing) 100.00% (156.05%) Compare
Median of peers $406.1M — — −2.83% — +19.27% 100.00% (23.77%)

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 29 April 2026

Ownership

Directors and executive officers, together 3.50%
Deep Track Capital, LP 6.30%
Shaibatalhamd Aymen Abdalkader 5.90%
BlackRock, Inc. 5.80%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

CorMedix Inc (CRMD) Latest News

2 Nov

Impact 3 · · InvestorsHub
Impact 3 · · GlobeNewswire

30 Oct

Impact 4 · · Stocktwits

19 Oct

Impact 4 · · GlobeNewswire

15 Oct

Impact 3 · · PR Newswire

8 Oct

Impact 3 · · Zacks

7 Sep

Impact 3 ·

31 Aug

Impact 3 ·

20 Aug

Impact 4 · · The Motley Fool transcript

14 Aug

Impact 3 ·

13 Aug

Impact 4 ·
Impact 4 · · Stocktwits
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat transcript
Impact 3 ·

30 Jun

Impact 4 ·
Impact 3 ·
Impact 3 ·

17 Jun

Impact 4 ·

16 Jun

Impact 4 ·

13 Jun

Impact 3 · earnings

8 Jun

Impact 4 · · GlobeNewswire

22 May

Impact 4 · · MarketBeat

17 May

Impact 4 · · Simply Wall St.

16 May

Impact 4 · · Simply Wall St.

15 May

Impact 4 · · Zacks

14 May

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
stockrow.com/CRMD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com