CorMedix Inc. (CRMD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CRMD SEC filings page.
CorMedix Inc. (CRMD) reported $462.2M in revenue over the twelve months to Jun 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business shifted from cash-consuming development to profitable scale, while a much larger balance sheet now carries more obligations.
Earnings-to-cash conversion was unusually coherent in FY2025: net income reached$163.1M while operating cash flow reached$175.0M , suggesting reported profit was largely realized in cash. Free cash flow was$172.8M , nearly matching operating cash flow, unlike FY2024 when both remained negative; the improvement reflects a change in operating economics rather than merely an accounting profit.
FY2025 revenue of
Total liabilities reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of CorMedix Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CorMedix Inc. has an operating margin of 48.2%, meaning the company retains $48 of operating profit per $100 of revenue. This results in a moderate score of 58/100, indicating healthy but not exceptional operating efficiency. This is up from -51.4% the prior year.
CorMedix Inc.'s revenue surged 617.0% year-over-year to $311.7M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
CorMedix Inc. has a moderate D/E ratio of 1.04. This balance of debt and equity financing earns a leverage score of 46/100.
CorMedix Inc.'s current ratio of 2.11 indicates adequate short-term liquidity, earning a score of 62/100. The company can meet its near-term obligations, though with limited headroom.
CorMedix Inc.'s free cash flow margin of 55.4% results in a low score of 13/100. Capital expenditures of $2.3M absorb a large share of operating cash flow.
CorMedix Inc. generates a 40.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is up from -21.2% the prior year.
CorMedix Inc. scores 1.78, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
CorMedix Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, CorMedix Inc. generates $1.07 in operating cash flow ($175.0M OCF vs $163.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CorMedix Inc. earns $53.97 in operating income for every $1 of interest expense ($150.1M vs $2.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
CorMedix Inc. generated $101.9M in revenue in Q2 2026. This represents an increase of 156.5% from the same quarter a year earlier. Against the prior quarter it is down 20.0%.
CorMedix Inc.'s EBITDA was $53.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 171.2% from the same quarter a year earlier. Against the prior quarter it is down 28.0%.
CorMedix Inc. reported $26.0M in net income in Q2 2026. This represents an increase of 31.1% from the same quarter a year earlier. Against the prior quarter it is down 32.7%.
CorMedix Inc. earned $0.29 per diluted share (EPS) in Q2 2026. This represents an increase of 3.6% from the same quarter a year earlier. Against the prior quarter it is down 32.6%.
Cash & Balance Sheet
CorMedix Inc. generated $85.7M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 185.9% from the same quarter a year earlier. Against the prior quarter it is up 105.7%.
CorMedix Inc. held $256.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
CorMedix Inc.'s gross margin was 75.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 19.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.8 percentage points.
CorMedix Inc.'s operating margin was 42.1% in Q2 2026, reflecting core business profitability. This is down 7.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.9 percentage points.
CorMedix Inc.'s net profit margin was 25.5% in Q2 2026, showing the share of revenue converted to profit. This is down 24.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.8 percentage points.
CorMedix Inc.'s ROE was 5.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.2 percentage points.
Capital Allocation
CorMedix Inc. invested $6.7M in research and development in Q2 2026. This represents an increase of 173.7% from the same quarter a year earlier. Against the prior quarter it is down 7.3%.
CorMedix Inc. spent $6.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 42.4%.
CorMedix Inc. invested $561K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 2237.5% from the same quarter a year earlier. Against the prior quarter it is down 23.0%.
CRMD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $101.9M+156.5% | $127.4M+226.1% | $128.6M | $104.3M+810.2% | $39.7M+4829.4% | $39.1M | N/A | $11.5M |
| Cost of Revenue | $14.5M+678.8% | $12.0M+677.0% | $11.1M | $7.6M+1092.2% | $1.9M+265.3% | $1.5M+88.8% | N/A | $635K |
| Gross Profit | $77.1M+103.6% | $105.1M+180.4% | $107.3M | $93.1M+764.3% | $37.9M+12683.2% | $37.5M+4679.5% | N/A | $10.8M |
| R&D Expenses | $6.7M+173.7% | $7.2M+125.9% | $8.6M | $5.1M+601.1% | $2.4M+275.1% | $3.2M+281.3% | N/A | $727K-72.7% |
| SG&A Expenses | $15.1M+58.7% | $21.7M+124.1% | $23.6M | $25.5M+286.7% | $9.5M+25.7% | $9.7M-35.6% | N/A | $6.6M-15.7% |
| Operating Income | $42.9M+119.6% | $63.7M+216.3% | $59.1M | $51.3M+1661.9% | $19.5M+227.7% | $20.1M+220.5% | N/A | -$3.3M+68.6% |
| EBITDA | $53.5M+171.2% | $74.2M+265.8% | N/A | N/A | $19.7M+229.0% | $20.3M+221.6% | N/A | -$3.2M+69.3% |
| Interest Expense | N/A | N/A | $1.8M | $948K+9375.8% | $7K+1.8% | $10K+1.7% | N/A | $10K-23.7% |
| Income Tax | $12.7M+2341.6% | $17.0M | $42.4M | -$56.0M | $522K | $0+100.0% | N/A | N/A |
| Net Income | $26.0M+31.1% | $38.6M+87.0% | $14.0M | $108.6M+4009.6% | $19.8M+240.1% | $20.6M+242.7% | N/A | -$2.8M+71.5% |
| EPS (Basic) | $0.33+13.8% | $0.48+50.0% | $0.13-45.8% | $1.42+2940.0% | $0.29+216.0% | $0.32+228.0% | $0.24+192.3% | -$0.05+70.6% |
| EPS (Diluted) | $0.29+3.6% | $0.43+43.3% | $0.07-70.8% | $1.26 | $0.28+212.0% | $0.30+220.0% | $0.24+192.3% | -$0.05+70.6% |
| Diluted Shares (Avg) | 92M+28.6% | 93M+34.8% | N/A | 86M | 72M+24.8% | 69M+19.9% | N/A | 59M+4.0% |
CRMD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $904.1M+257.9% | $815.6M+445.3% | $826.1M+595.1% | $750.9M+867.8% | $252.6M+337.5% | $149.6M+119.9% | $118.8M+44.8% | $77.6M-15.1% |
| Current Assets | $480.6M+93.7% | $383.1M+164.5% | $367.1M+220.4% | $259.5M+254.8% | $248.1M+366.3% | $144.9M+128.5% | $114.6M+44.2% | $73.2M-17.9% |
| Cash & Equivalents | $256.7M+61.1% | $178.1M+168.7% | $144.8M+256.3% | $48.5M+37.4% | $159.3M+458.2% | $66.3M+88.4% | $40.7M-6.9% | $35.3M-33.8% |
| Short-Term Investments | $0-100.0% | $0-100.0% | $3.7M-66.5% | $7.2M-32.8% | $31.4M+84.0% | $11.2M-52.0% | $11.0M-65.9% | $10.7M-67.7% |
| Inventory | $38.6M+300.5% | $30.7M+310.4% | $29.7M+291.0% | $28.9M+334.9% | $9.6M+140.2% | $7.5M+222.7% | $7.6M+260.8% | $6.6M |
| Accounts Receivable | $161.3M+275.9% | $154.8M+183.5% | $171.2M+231.5% | $158.6M+812.0% | $42.9M+20696.9% | $54.6M | $51.7M | $17.4M |
| Long-Term Investments | $27.2M | $24.3M | $27.8M+26359.0% | $22.9M | $0 | $0 | $105K | $0 |
| Goodwill | $30.0M | $30.0M | $30.0M | $17.5M | N/A | N/A | N/A | N/A |
| Total Liabilities | $443.2M+1286.4% | $378.6M+991.2% | $420.8M+1130.9% | $376.7M+1896.0% | $32.0M+176.9% | $34.7M+246.6% | $34.2M+186.9% | $18.9M+129.4% |
| Current Liabilities | $187.4M+491.0% | $128.8M+274.5% | $174.3M+415.0% | $133.6M+623.1% | $31.7M+185.4% | $34.4M+260.7% | $33.8M+196.8% | $18.5M+140.9% |
| Non-Current Liabilities | $255.8M+99028.2% | $249.8M+82050.1% | $246.6M+70549.3% | $243.1M+61759.7% | $258K-40.7% | $304K-36.2% | $349K-32.5% | $393K-29.4% |
| Total Equity | $460.8M+108.9% | $437.0M+280.4% | $405.3M+378.8% | $374.1M+537.2% | $220.6M+377.7% | $114.9M+98.0% | $84.7M+20.7% | $58.7M-29.4% |
| Retained Earnings | -$112.0M+62.6% | -$138.0M+56.7% | -$176.6M+48.0% | -$190.6M+46.0% | -$299.2M+14.6% | -$319.0M+5.1% | -$339.6M-5.6% | -$353.1M-15.0% |
Not reported in any period shown, so not listed: Long-Term Debt.
CRMD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $86.2M+187.5% | $42.4M+114.7% | $94.5M+1782.3% | $30.9M+326.1% | $30.0M+313.6% | $19.7M+214.0% | -$5.6M+47.7% | -$13.6M-56.9% |
| Depreciation & Amortization | $10.5M+6366.3% | $10.5M+6408.6% | $10.4M+7692.5% | N/A | $163K+554.0% | $162K+642.2% | $134K+617.2% | $77K+335.0% |
| Stock-Based Compensation | $4.1M+52.6% | $4.6M+30.9% | N/A | $4.1M+231.2% | $2.7M+111.8% | $3.5M+43.2% | N/A | $1.2M |
| Capital Expenditures | $561K+2237.5% | $729K+7190.0% | $1.7M+16865.2% | $506K+5080.2% | $24K-31.0% | $10K-83.7% | $10K-96.6% | $10K-4.7% |
| Free Cash Flow | $85.7M+185.9% | $41.7M+111.1% | $92.7M+1748.7% | $30.4M+322.2% | $30.0M+312.9% | $19.7M+213.6% | -$5.6M+49.1% | -$13.7M-56.9% |
| Investing Cash Flow | -$561K+97.2% | $3.0M+1620.5% | $3.3M+1185.0% | -$291.3M-4708.5% | -$20.2M-422.4% | -$195K-102.2% | -$304K-150.8% | $6.3M+1177.1% |
| Financing Cash Flow | -$7.1M-108.5% | -$12.1M-298.5% | -$1.4M-112.5% | $150.5M+969.5% | $83.2M+7778.5% | $6.1M+6373.8% | $11.3M+2313.2% | $14.1M-67.2% |
| Share Buybacks | $6.4M | $11.1M | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
CRMD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.7%-19.6pp | 82.5%-13.4pp | 83.4% | 89.3%-4.8pp | 95.3%+58.6pp | 95.9% | N/A | 94.0% |
| Operating Margin | 42.1%-7.1pp | 50.0%-1.5pp | 46.0% | 49.2%+77.9pp | 49.2% | 51.5% | N/A | -28.7% |
| Net Margin | 25.5%-24.4pp | 30.3%-22.5pp | 10.9% | 104.1% | 49.9% | 52.8% | N/A | -24.2% |
| Return on Equity | 5.6%-3.3pp | 8.8%-9.1pp | 3.5% | 29.0%+33.8pp | 9.0%+39.6pp | 18.0%+42.9pp | N/A | -4.7%+7.0pp |
| Return on Assets | 2.9%-5.0pp | 4.7%-9.1pp | 1.7% | 14.5%+18.0pp | 7.8%+32.4pp | 13.8%+35.1pp | N/A | -3.6%+7.1pp |
| Current Ratio | 2.56-5.3x | 2.98-1.2x | 2.11-1.3x | 1.94-2.0x | 7.82+3.0x | 4.21-2.4x | 3.39-3.6x | 3.96-7.7x |
| Debt-to-Equity | 0.96+0.8x | 0.87+0.6x | 1.04+0.6x | 1.01+0.7x | 0.14-0.1x | 0.30+0.1x | 0.40+0.2x | 0.32+0.2x |
| Asset Turnover | 0.110.0x | 0.16-0.1x | 0.16 | 0.140.0x | 0.16+0.1x | 0.26 | N/A | 0.15 |
| FCF Margin | 84.0%+8.6pp | 32.7%-17.8pp | 72.1% | 29.1% | 75.4% | 50.5% | N/A | -119.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| CorMedix Inc. CRMD | FY2025 | $311.7M | $163.1M | 52.3% | $575.2M | 50/100 |
| Maravai LifeSciences Holdings, Inc. MRVI | FY2025 | $185.7M | -$130.8M | -70.4% | $1.1B | 24/100 |
| Upstream Bio, Inc. UPB | FY2025 | $2.9M | -$143.4M | N/A | $257.4M | 54/100 |
| Arbutus Biopharma Corporation ABUS | FY2025 | $14.1M | -$33.5M | N/A | $836.0M | 63/100 |
| uniQure N.V. QURE | FY2025 | $16.1M | -$199.0M | N/A | $1.6B | 44/100 |
Where CorMedix Inc. Ranks
Frequently Asked Questions
What is CorMedix Inc.'s annual revenue?
CorMedix Inc. (CRMD) reported $311.7M in total revenue for fiscal year 2025. This represents a 617.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CorMedix Inc.'s revenue growing?
CorMedix Inc. (CRMD) revenue grew by 617.0% year-over-year, from $43.5M to $311.7M in fiscal year 2025.
Is CorMedix Inc. profitable?
Yes, CorMedix Inc. (CRMD) reported a net income of $163.1M in fiscal year 2025, with a net profit margin of 52.3%.
What is CorMedix Inc.'s EBITDA?
CorMedix Inc. (CRMD) had EBITDA of $164.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is CorMedix Inc.'s gross margin?
CorMedix Inc. (CRMD) had a gross margin of 88.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is CorMedix Inc.'s operating margin?
CorMedix Inc. (CRMD) had an operating margin of 48.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CorMedix Inc.'s net profit margin?
CorMedix Inc. (CRMD) had a net profit margin of 52.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is CorMedix Inc.'s return on equity (ROE)?
CorMedix Inc. (CRMD) has a return on equity of 40.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CorMedix Inc.'s free cash flow?
CorMedix Inc. (CRMD) generated $172.8M in free cash flow during fiscal year 2025. This represents a 440.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CorMedix Inc.'s operating cash flow?
CorMedix Inc. (CRMD) generated $175.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CorMedix Inc.'s total assets?
CorMedix Inc. (CRMD) had $826.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are CorMedix Inc.'s capital expenditures?
CorMedix Inc. (CRMD) invested $2.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does CorMedix Inc. spend on research and development?
CorMedix Inc. (CRMD) invested $19.3M in research and development during fiscal year 2025.
What is CorMedix Inc.'s current ratio?
CorMedix Inc. (CRMD) had a current ratio of 2.11 as of fiscal year 2025, which is generally considered healthy.
What is CorMedix Inc.'s debt-to-equity ratio?
CorMedix Inc. (CRMD) had a debt-to-equity ratio of 1.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CorMedix Inc.'s return on assets (ROA)?
CorMedix Inc. (CRMD) had a return on assets of 19.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CorMedix Inc.'s P/E ratio?
CorMedix Inc. (CRMD) trades at 3.1x earnings, its market capitalization divided by net income of $187.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $575.2M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CorMedix Inc.'s price-to-sales ratio?
CorMedix Inc. (CRMD) trades at 1.2x sales, its market capitalization divided by revenue of $462.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $575.2M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CorMedix Inc.'s Altman Z-Score?
CorMedix Inc. (CRMD) has an Altman Z-Score of 1.78, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CorMedix Inc.'s Piotroski F-Score?
CorMedix Inc. (CRMD) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CorMedix Inc.'s earnings high quality?
CorMedix Inc. (CRMD) has an earnings quality ratio of 1.07x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can CorMedix Inc. cover its interest payments?
CorMedix Inc. (CRMD) has an interest coverage ratio of 53.97x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is CorMedix Inc.?
CorMedix Inc. (CRMD) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.