Cormedix Inc. Reports Second Quarter 2025 Financial Results and Provides Business Update
CorMedix (NASDAQ:CRMD) reported strong Q2 2025 financial results, highlighted by $39.7 million in net revenue from DefenCath sales, compared to $0.8 million in the same period last year. The company achieved net income of $19.8 million ($0.29 per share), a significant turnaround from a net loss of $14.2 million in Q2 2024.
For the first half of 2025, CorMedix recorded $78.8 million in net revenue and net income of $40.5 million ($0.60 per share). The company maintains a strong financial position with $190.7 million in cash and short-term investments. Operating expenses increased 18% year-over-year to $18.3 million in Q2 2025.
In a significant strategic move, CorMedix announced the acquisition of Melinta Therapeutics LLC, with an expected closing date of September 1, 2025.
CorMedix (NASDAQ:CRMD) ha annunciato risultati finanziari solidi per il secondo trimestre del 2025, con ricavi netti di 39,7 milioni di dollari derivanti dalle vendite di DefenCath, rispetto a 0,8 milioni nello stesso periodo dell'anno precedente. L'azienda ha registrato un utile netto di 19,8 milioni di dollari (0,29 dollari per azione), segnando un notevole miglioramento rispetto alla perdita netta di 14,2 milioni nel secondo trimestre del 2024.
Nel primo semestre del 2025, CorMedix ha totalizzato 78,8 milioni di dollari di ricavi netti e un utile netto di 40,5 milioni di dollari (0,60 dollari per azione). La società mantiene una solida posizione finanziaria con 190,7 milioni di dollari in liquidità e investimenti a breve termine. Le spese operative sono aumentate del 18% su base annua, raggiungendo 18,3 milioni di dollari nel secondo trimestre del 2025.
In una mossa strategica importante, CorMedix ha annunciato l'acquisizione di Melinta Therapeutics LLC, con una data di chiusura prevista per il 1° settembre 2025.
CorMedix (NASDAQ:CRMD) reportó sólidos resultados financieros en el segundo trimestre de 2025, destacando 39,7 millones de dólares en ingresos netos por ventas de DefenCath, en comparación con 0,8 millones en el mismo periodo del año anterior. La compañía logró un ingreso neto de 19,8 millones de dólares (0,29 dólares por acción), un cambio significativo desde una pérdida neta de 14,2 millones en el segundo trimestre de 2024.
En la primera mitad de 2025, CorMedix registró 78,8 millones de dólares en ingresos netos y un ingreso neto de 40,5 millones de dólares (0,60 dólares por acción). La empresa mantiene una posición financiera sólida con 190,7 millones de dólares en efectivo e inversiones a corto plazo. Los gastos operativos aumentaron un 18% interanual, alcanzando 18,3 millones en el segundo trimestre de 2025.
En un movimiento estratégico importante, CorMedix anunció la adquisición de Melinta Therapeutics LLC, con una fecha de cierre prevista para el 1 de septiembre de 2025.
CorMedix (NASDAQ:CRMD)는 2025년 2분기 강력한 재무 실적을 보고했습니다. DefenCath 판매에서 3,970만 달러의 순매출을 기록했으며, 이는 전년 동기 80만 달러에서 크게 증가한 수치입니다. 회사는 1,980만 달러(주당 0.29달러)의 순이익을 달성하여 2024년 2분기 1,420만 달러 순손실에서 크게 반전했습니다.
2025년 상반기 동안 CorMedix는 7,880만 달러의 순매출과 4,050만 달러(주당 0.60달러)의 순이익을 기록했습니다. 회사는 1억 9,070만 달러의 현금 및 단기 투자로 강력한 재무 상태를 유지하고 있습니다. 2025년 2분기 영업비용은 전년 대비 18% 증가한 1,830만 달러였습니다.
중요한 전략적 조치로 CorMedix는 Melinta Therapeutics LLC 인수를 발표했으며, 인수 완료 예정일은 2025년 9월 1일입니다.
CorMedix (NASDAQ:CRMD) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec 39,7 millions de dollars de revenus nets issus des ventes de DefenCath, contre 0,8 million au même trimestre de l'année précédente. La société a enregistré un bénéfice net de 19,8 millions de dollars (0,29 dollar par action), marquant un net retournement par rapport à une perte nette de 14,2 millions au deuxième trimestre 2024.
Au premier semestre 2025, CorMedix a réalisé 78,8 millions de dollars de revenus nets et un bénéfice net de 40,5 millions de dollars (0,60 dollar par action). L'entreprise maintient une position financière solide avec 190,7 millions de dollars en liquidités et investissements à court terme. Les dépenses d'exploitation ont augmenté de 18 % en glissement annuel, atteignant 18,3 millions au deuxième trimestre 2025.
Dans une démarche stratégique importante, CorMedix a annoncé l'acquisition de Melinta Therapeutics LLC, avec une clôture prévue au 1er septembre 2025.
CorMedix (NASDAQ:CRMD) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit 39,7 Millionen US-Dollar Nettoumsatz aus DefenCath-Verkäufen, verglichen mit 0,8 Millionen im gleichen Zeitraum des Vorjahres. Das Unternehmen erzielte einen Nettoertrag von 19,8 Millionen US-Dollar (0,29 US-Dollar pro Aktie), eine deutliche Wende gegenüber einem Nettoverlust von 14,2 Millionen im zweiten Quartal 2024.
Für das erste Halbjahr 2025 verzeichnete CorMedix 78,8 Millionen US-Dollar Nettoumsatz und einen Nettoertrag von 40,5 Millionen US-Dollar (0,60 US-Dollar pro Aktie). Das Unternehmen verfügt über eine starke finanzielle Position mit 190,7 Millionen US-Dollar in bar und kurzfristigen Anlagen. Die Betriebsausgaben stiegen im Jahresvergleich um 18 % auf 18,3 Millionen US-Dollar im zweiten Quartal 2025.
In einem bedeutenden strategischen Schritt kündigte CorMedix die Übernahme von Melinta Therapeutics LLC an, mit einem erwarteten Abschlussdatum am 1. September 2025.
- Substantial revenue growth with Q2 2025 net revenue of $39.7M from DefenCath sales, up from $0.8M YoY
- Strong profitability with Q2 2025 net income of $19.8M, compared to $14.2M loss in Q2 2024
- Robust cash position of $190.7M ensuring operational runway for at least 12 months
- Strategic acquisition of Melinta Therapeutics to expand business operations
- 14% reduction in Selling and Marketing expenses compared to Q2 2024
- Operating expenses increased 18% YoY to $18.3M in Q2 2025
- R&D expenses increased significantly to $2.4M from $0.7M YoY
- G&A expenses rose 25% to $9.5M compared to Q2 2024
Insights
CorMedix's Q2 results show dramatic revenue growth to $39.7M and first profitability, while strategic Melinta acquisition positions them for accelerated growth.
CorMedix has delivered exceptional financial performance in Q2 2025 with
The company's first-half performance is equally impressive, with
While operating expenses increased by
The announced acquisition of Melinta Therapeutics represents a significant strategic move that could accelerate growth through portfolio diversification. Melinta's infectious disease focus complements CorMedix's catheter-related infection prevention specialty. With DefenCath demonstrating strong commercial traction and a healthy cash position, CorMedix is executing an aggressive growth strategy that balances organic expansion with strategic acquisitions.
‒ Q2 2025 Net Revenue of
‒ Company Announces Acquisition of Melinta Therapeutics ‒
‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒
BERKELEY HEIGHTS, N.J., Aug. 07, 2025 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD) today announced financial results for the second quarter and six months ended June 30, 2025 and provided an update on its business announcing the acquisition of Melinta Therapeutics LLC, with a target closing date as early as September 1, 2025.
Second Quarter and Six Months 2025 Financial Highlights
For the second quarter of 2025, CorMedix recorded
Operating expenses in the second quarter of 2025 were
For the six months ended June 30, 2025, the Company recorded
Operating expenses in the first half of 2025 were
The Company reported cash and short-term investments of
Conference Call Information
The management team of CorMedix will host a conference call and webcast today, August 7, 2025, at 8:30AM Eastern Time, to discuss recent corporate developments and financial results. Call details and dial-in information are as follows:
| Thursday, August 7th @ 8:30am ET | |
| Domestic: | 1-844-676-2922 |
| International: | 1-412-634-6840 |
| Webcast: | Webcast Link |
About CorMedix
CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath® (taurolidine and heparin) which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024. CorMedix commenced clinical studies in adult Total Parenteral Nutrition (TPN) patients and pediatric hemodialysis (HD) patient populations in 2025 and also intends to develop DefenCath as a catheter lock solution for use in other therapeutic areas. For more information visit: www.cormedix.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange, as amended (the “Exchange Act”), that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “will,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management’s expectations, beliefs, goals, plans or CorMedix’s prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix’s filings with the SEC, including its most recent Annual Report on Form 10-K, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from CorMedix and in the Quarterly Report on Form 10-Q for the quarter ended, on June 30, 2025. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause actual results to differ include, but are not limited to: the ultimate outcome of the acquisition of Melinta; the satisfaction of the conditions to the closing of the proposed transaction in a timely manner; the ability of the combined company to achieve the identified synergies; the ability to integrate the Melinta business into CorMedix and realize the anticipated strategic benefits of the transaction within the expected time-frames or at all; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of Melinta; the expected benefits and success of Melinta’s products and product candidates; potential litigation relating to the potential transaction that could be instituted against CorMedix or its directors; rating agency actions and CorMedix’s ability to access short- and long-term debt markets on a timely and affordable basis; general economic conditions that are less favorable than expected; geopolitical developments and additional changes in international trade policies and relations, including tariffs; and the ability of our products and product candidates to compete effectively against current and future competitors.
Non-GAAP Financial Measures
This release includes certain non-GAAP financial measures, including EBITDA, adjusted EBITDA, which are intended as supplemental measures of the Company’s performance that are not required by or presented in accordance with GAAP. Management uses these non-GAAP measures internally to evaluate and manage the Company’s operations and to better understand its business because they facilitate a comparative assessment of the Company’s operating performance relative to its performance based on results calculated under GAAP. These non-GAAP measures also isolate the effects of some items that vary from period to period without any correlation to core operating performance and eliminate certain charges that management believes do not reflect the Company’s operations and underlying operational performance.
The Company believes that these non-GAAP measures also provide useful information to investors regarding certain financial and business trends relating to the Company’s financial condition and operating results facilitates an evaluation of the financial performance of the Company and its operations on a consistent basis. Providing this information therefore allows investors to make independent assessments of the Company’s financial performance, results of operations and trends while viewing the information through the eyes of management.
These non-GAAP measures are subject to limitations. The non-GAAP measures presented in this release may not be comparable to similarly titled measures used by other companies because other companies may not calculate one or more in the same manner. Additionally, the non-GAAP performance measures exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements; do not reflect changes in, or cash requirements for, working capital needs. Further, our historical adjusted results are not intended to project our adjusted results of operations or financial position for any future period. To compensate for these limitations, management presents and considers these non-GAAP measures in conjunction with the Company’s GAAP results; no non-GAAP measure should be considered in isolation from or as alternatives to any measure determined in accordance with GAAP. Readers should review the reconciliations included below, and should not rely on any single financial measure to evaluate the Company’s business.
Investor Contact:
Dan Ferry
Managing Director
LifeSci Advisors
daniel@lifesciadvisors.com
(617) 430-7576
| CORMEDIX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) | ||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | ||||||||||||
| Revenue, net | $ | 39,736,790 | $ | 806,119 | $ | 78,818,447 | $ | 806,119 | ||||
| Cost of revenues | (1,862,448 | ) | (509,839 | ) | (3,459,162 | ) | (1,328,377 | ) | ||||
| Gross profit (loss) | 37,874,342 | 296,280 | 75,359,285 | (522,258 | ) | |||||||
| Operating Expenses | ||||||||||||
| Research and development | (2,442,709 | ) | (650,988 | ) | (5,635,149 | ) | (1,488,432 | ) | ||||
| Selling and marketing | (6,384,072 | ) | (7,386,841 | ) | (10,857,913 | ) | (13,724,061 | ) | ||||
| General and administrative | (9,504,056 | ) | (7,559,277 | ) | (19,197,437 | ) | (16,270,310 | ) | ||||
| Total operating expenses | (18,330,837 | ) | (15,597,106 | ) | (35,690,499 | ) | (31,482,803 | ) | ||||
| Income (Loss) from Operations | 19,543,505 | (15,300,826 | ) | 39,668,786 | (32,005,061 | ) | ||||||
| Other Income (Expense) | ||||||||||||
| Total other income | 805,983 | 1,149,337 | 1,324,600 | 1,992,679 | ||||||||
| Net Income (Loss) Before Income Taxes | 20,349,488 | (14,151,489 | ) | 40,993,386 | (30,012,382 | ) | ||||||
| Tax (expense) benefit | (521,507 | ) | - | (521,507 | ) | 1,394,770 | ||||||
| Net Income (Loss) | 19,827,981 | (14,151,489 | ) | 40,471,879 | (28,617,612 | ) | ||||||
| Other Comprehensive Income (Loss) | ||||||||||||
| Total other comprehensive (loss) income | (5,121 | ) | 2,270 | (11,211 | ) | (8,377 | ) | |||||
| Other Comprehensive (Loss) Income | $ | 19,822,860 | $ | (14,149,219 | ) | $ | 40,460,668 | $ | (28,625,989 | ) | ||
| Net Income (Loss) Per Common Share – Basic | $ | 0.29 | $ | (0.25 | ) | $ | 0.60 | $ | (0.50 | ) | ||
| Net Income (Loss) Per Common Share – Diluted | $ | 0.28 | $ | (0.25 | ) | $ | 0.58 | $ | (0.50 | ) | ||
| Weighted Average Common Shares Outstanding – Basic | 67,927,710 | 57,620,974 | 66,593,438 | 57,562,064 | ||||||||
| Weighted Average Common Shares Outstanding – Diluted | 71,918,624 | 57,620,974 | 70,354,212 | 57,562,064 | ||||||||
| CORMEDIX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET DATA | ||||||
| June 30, | December 31, | |||||
| 2025 | 2024 | |||||
| (Unaudited) | (Audited) | |||||
| ASSETS | ||||||
| Cash, cash equivalents and restricted cash | $ | 159,414,050 | $ | 40,756,138 | ||
| Short-term investments | $ | 31,402,850 | $ | 11,036,857 | ||
| Trade receivables, net | 42,911,634 | 51,653,583 | ||||
| Total Assets | $ | 252,599,103 | $ | 118,845,673 | ||
| Total Liabilities | $ | 31,968,916 | $ | 34,188,723 | ||
| Accumulated deficit | $ | (299,158,154 | ) | $ | (339,630,033 | ) |
| Total Stockholders’ Equity | $ | 220,630,187 | $ | 84,656,950 | ||
| CORMEDIX INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||||
| For the Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| Cash Flows from Operating Activities: | |||||||
| Net income (loss) | $ | 40,471,879 | $ | (28,617,612 | ) | ||
| Net cash provided by (used in) operating activities | 49,728,317 | (31,350,210 | ) | ||||
| Cash Flows Used in Investing Activities: | |||||||
| Net cash (used in) provided by investing activities | (20,406,596 | ) | 15,213,503 | ||||
| Cash Flows from Financing Activities: | |||||||
| Net cash provided by financing activities | 89,335,134 | 959,467 | |||||
| Net Increase (Decrease) in Cash and Cash Equivalents | 118,657,912 | (15,178,133 | ) | ||||
| Cash and Cash Equivalents and Restricted Cash - Beginning of Period | 40,756,138 | 43,823,192 | |||||
| Cash and Cash Equivalents and Restricted Cash - End of Period | $ | 159,414,050 | $ | 28,645,059 | |||
| CORMEDIX INC. AND SUBSIDIARIES Non-GAAP Reconciliations (Unaudited) | |||||||
| For the Three Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| Net income (loss) | $ | 19,827,981 | $ | (14,151,489 | ) | ||
| Adjusted to add (deduct): | |||||||
| Interest income, net | (822,278 | ) | (650,810 | ) | |||
| Provision for (benefit from) income taxes | 521,507 | - | |||||
| Depreciation and amortization | 162,941 | 76,898 | |||||
| EBITDA (Non-GAAP) | 19,690,151 | (14,725,401 | ) | ||||
| Adjusted to add (deduct): | |||||||
| Stock-based compensation expense | 2,677,080 | 1,263,845 | |||||
| Other income | - | (500,000 | ) | ||||
| Adjusted EBITDA (Non-GAAP) | 22,367,231 | (13,961,556 | ) | ||||
FAQ
What were CorMedix (CRMD) Q2 2025 earnings results?
How much cash does CorMedix (CRMD) have as of Q2 2025?
What is the status of CorMedix's DefenCath sales?
Who is CorMedix acquiring and when?
How did CorMedix's operating expenses change in Q2 2025?
