Welcome to our dedicated page for Koru Med Sys SEC filings (Ticker: KRMD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to U.S. Securities and Exchange Commission (SEC) filings for KORU Medical Systems, Inc. (NASDAQ: KRMD), a medical technology company focused on large-volume subcutaneous infusion solutions. These regulatory documents offer detailed information on the company’s operations, financial condition, risk factors, and material agreements related to its Freedom Syringe Infusion System and associated businesses.
Through its periodic reports, such as Form 10-K annual reports and Form 10-Q quarterly reports, KORU Medical discloses audited and interim financial statements, segment information for its core business and Pharma Services and Clinical Trials activities, and discussions of factors affecting demand for its subcutaneous infusion devices and services. These filings also describe the structure of the Freedom System, its regulatory status, and the company’s role in supporting large-volume subcutaneous drug delivery.
Form 8-K current reports document material events, including the public release of financial results, updated guidance, and key contracts. Recent 8-K filings have referenced press releases on preliminary and quarterly financial results and an Amended and Restated Manufacturing and Supply Agreement with Command Medical Products, Inc., which covers the manufacture and supply of subassemblies, needle sets, and tubing products for KORU Medical.
Investors can also review proxy statements for information on executive compensation, equity awards, and corporate governance, as well as Form 4 insider transaction reports that show purchases, sales, or grants of KORU Medical common stock by directors and officers under the KRMD ticker.
On Stock Titan, KORU Medical’s SEC filings are updated as new documents are posted to the SEC’s EDGAR system. AI-powered tools can summarize lengthy filings such as 10-Ks and 10-Qs, highlight key sections on revenue drivers, manufacturing and supply arrangements, and non-GAAP metrics like adjusted EBITDA, and help users quickly locate discussions of regulatory submissions, pharma collaborations, and other factors relevant to KRMD’s subcutaneous infusion business.
KORU Medical Systems reported that its President and Chief Commercial Officer, Adam R. Kalbermatten, received new equity awards as part of his compensation. He was granted 45,098 restricted stock units and 45,098 performance stock units, each representing the right to receive one share of common stock upon vesting.
The restricted stock units vest in equal annual installments beginning on March 17, 2027. The performance stock units vest based on achievement of performance conditions measured as of December 31, 2028, with potential payout ranging from 0% to 150% of the 45,098 target units, or fully upon a change in control before that date.
He also received options to buy 67,779 shares of common stock at an exercise price of $4.35 per share, expiring on March 17, 2036. All transactions are grants or awards, not open-market purchases or sales.
KORU Medical Systems, Inc. Chief Operating Officer Christopher Pazdan reported several equity compensation transactions. He received 5,064 shares of common stock from vested restricted stock units, with 1,628 shares withheld to cover tax obligations, leaving 3,436 shares held directly.
On the same grant date, he was awarded 31,226 restricted stock units that vest in equal increments on March 17, 2027 and each first, second, and third anniversary of that date, and 31,226 performance stock units that can pay out between 0% and 150% of target based on performance as of December 31, 2028, or fully upon a change in control before then. He also received an option to buy 46,929 shares of common stock at an exercise price of $4.35 per share, expiring on March 17, 2036. All events are compensation-related and do not involve open-market buying or selling.
KORU Medical Systems reported several equity transactions for Chief Financial Officer Thomas Edward Adams. He received grants of 38,918 restricted stock units and 38,918 performance stock units, each representing the right to receive one share of common stock upon vesting. The restricted stock units were granted under the 2024 Omnibus Equity Incentive Plan and vest in equal increments on March 17, 2027 and on the first, second and third anniversaries of that date. The performance stock units are tied to performance through December 31, 2028, with potential payout between 0% and 150% of the 38,918-share target, and they vest in full at the reported amount upon a change in control before that date. Adams also received an option to buy 58,490 shares of common stock at an exercise price of $4.35 per share, expiring on March 17, 2036. In a related event, 5,404 shares of common stock were issued upon vesting of restricted stock units, and 2,123 of those shares were withheld at $4.28 per share to satisfy tax obligations, leaving 3,281 shares held directly.
KORU Medical Systems reported that Chief Executive Officer Linda M. Tharby received common shares through equity compensation and had a portion withheld for taxes. On March 16, 2026, she acquired 15,968 shares of common stock at no cost upon vesting of restricted stock units. Of these, 5,756 shares were withheld at $4.28 per share to satisfy tax obligations related to the vesting. After these transactions, she directly holds 10,212 shares of KORU Medical Systems common stock. These events reflect routine compensation-related activity rather than open-market buying or selling.
KORU Medical Systems announced a planned leadership transition. President and Chief Executive Officer Linda Tharby will retire as CEO effective June 30, 2026, remaining a non‑executive advisory employee and Board member through December 31, 2026. Adam Kalbermatten will become President on March 15, 2026 and succeed her as CEO on July 1, 2026.
Tharby’s transition agreement provides continued salary through the transition date, prorated 2025–2026 bonuses under the annual incentive plan, partial continued vesting of certain RSUs, stock options and PSUs, and company‑paid COBRA premiums for 12 months beginning January 1, 2027, in exchange for ongoing advisory duties, restrictive covenants and sale restrictions on company equity during the advisory period.
Kalbermatten’s amended employment agreement sets annual base salary of $450,000 through June 30, 2026 and $525,000 starting July 1, 2026, with a prorated 2026 bonus paid 70% in cash and 30% in fully vested RSUs. He is slated to receive long‑term incentive awards with target grant values of $550,000 for 2025 and $1,250,000 for 2026, plus a one‑time CEO promotion PSU award of $1,250,000 effective July 1, 2026, all subject to performance and Compensation Committee approval. His agreement also outlines severance, equity vesting and change‑of‑control protections.
KORU Medical Systems, Inc. focuses on mechanical large-volume subcutaneous infusion systems used mainly for at-home immunoglobulin therapy. Its FREEDOM60 and FreedomEdge syringe drivers, HIgH-Flo needle sets and Precision Flow Rate Tubing are FDA 510(k)-cleared and used with multiple branded therapies for conditions like PIDD, CIDP and PNH.
The company pursues growth by deepening its core SCIg franchise and partnering with biopharma on emerging subcutaneous drugs, generating both product and service revenue. As of June 30, 2025, non-affiliate equity market value was $119,084,035, and as of March 12, 2026, 46,370,432 shares of common stock were outstanding, excluding treasury shares.
KORU relies on a concentrated distributor base, with nine distributors representing about 77% of 2025 net revenues and one U.S. distributor contributing 29%. It spent $4.4 million on research and development in 2025, holds 15 U.S. and 26 foreign patents, and employed 73 people, with notable gender and minority representation. Extensive risk disclosures highlight single-source suppliers, regulatory and reimbursement pressures, competition, cybersecurity, and the need for additional capital.
KORU Medical Systems, Inc. focuses on mechanical large-volume subcutaneous infusion systems used mainly for at-home immunoglobulin therapy. Its FREEDOM60 and FreedomEdge syringe drivers, HIgH-Flo needle sets and Precision Flow Rate Tubing are FDA 510(k)-cleared and used with multiple branded therapies for conditions like PIDD, CIDP and PNH.
The company pursues growth by deepening its core SCIg franchise and partnering with biopharma on emerging subcutaneous drugs, generating both product and service revenue. As of June 30, 2025, non-affiliate equity market value was $119,084,035, and as of March 12, 2026, 46,370,432 shares of common stock were outstanding, excluding treasury shares.
KORU relies on a concentrated distributor base, with nine distributors representing about 77% of 2025 net revenues and one U.S. distributor contributing 29%. It spent $4.4 million on research and development in 2025, holds 15 U.S. and 26 foreign patents, and employed 73 people, with notable gender and minority representation. Extensive risk disclosures highlight single-source suppliers, regulatory and reimbursement pressures, competition, cybersecurity, and the need for additional capital.
KORU Medical Systems reported strong growth for the fourth quarter and full year 2025 and issued an optimistic 2026 outlook. Fourth quarter 2025 net revenues rose 23% to $10.9 million, driven by 18% growth in domestic core and 71% growth in international core markets.
For 2025, net revenues increased 22% to $41.1 million, with gross profit up 20% to $25.6 million and gross margin at 62.3%. The company’s net loss narrowed to $2.6 million from $6.1 million, while adjusted EBITDA turned positive at $0.6 million versus a loss in 2024. Cash and cash equivalents were $8.9 million at year-end.
Management highlighted regulatory and pipeline milestones, including 510(k) clearance for use with UCB’s RYSTIGGO and EU MDR certification for the Freedom60 system with prefilled syringe compatibility, along with new pharma collaborations. For 2026, KORU Medical guided to net revenues of $47.5–$50.0 million (15–22% growth), gross margin of 61–63%, and positive adjusted EBITDA and cash flow.
KORU Medical Systems reported strong growth for the fourth quarter and full year 2025 and issued an optimistic 2026 outlook. Fourth quarter 2025 net revenues rose 23% to $10.9 million, driven by 18% growth in domestic core and 71% growth in international core markets.
For 2025, net revenues increased 22% to $41.1 million, with gross profit up 20% to $25.6 million and gross margin at 62.3%. The company’s net loss narrowed to $2.6 million from $6.1 million, while adjusted EBITDA turned positive at $0.6 million versus a loss in 2024. Cash and cash equivalents were $8.9 million at year-end.
Management highlighted regulatory and pipeline milestones, including 510(k) clearance for use with UCB’s RYSTIGGO and EU MDR certification for the Freedom60 system with prefilled syringe compatibility, along with new pharma collaborations. For 2026, KORU Medical guided to net revenues of $47.5–$50.0 million (15–22% growth), gross margin of 61–63%, and positive adjusted EBITDA and cash flow.
First Light Asset Management, LLC and Mathew P. Arens reported their beneficial ownership of KORU Medical Systems, Inc. common stock on an amended Schedule 13G. First Light Asset Management is deemed to beneficially own 3,721,508 shares, representing 8.03% of the outstanding common stock.
Mathew P. Arens, as managing member and majority owner of the Manager, is deemed to beneficially own 3,831,475 shares, or 8.27% of the class, including 88,167 shares he holds directly and 21,800 shares in a joint account. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of KORU Medical Systems.
Topline Capital Partners and affiliates have disclosed an 8.5% beneficial stake in KORU Medical Systems, Inc. As of February 13, 2026, the fund beneficially owns 3,941,014 shares of KORU’s common stock.
The shares are held by Topline Capital Partners, with Topline Capital Management, LLC and Collin McBirney potentially deemed beneficial owners due to their control roles. They expressly state the position is held in the ordinary course of business and not for the purpose of changing or influencing control of KORU Medical.
KORU Medical Systems, Inc. received an amended Schedule 13D from Horton Capital entities and Joseph M. Manko, Jr. updating their investment position. As of the close of business on February 13, 2026, Horton Capital Partners Fund, LP directly owns 5,062,498 shares of common stock, representing 10.93% of KORU Medical’s outstanding shares based on 46,322,655 shares reported as of November 12, 2025. Including shares held directly by Mr. Manko, his aggregate beneficial ownership is reported as 5,845,045 shares, or 12.62% of the company.
The amendment details multiple in-kind distributions of KORU Medical shares by Horton Capital funds to their limited partners and members, as well as periodic “Director Shares” issued to Horton Capital Partners Fund in consideration for Mr. Manko’s board service. The reporting persons state that the shares are held for investment purposes but may be increased or reduced over time and that they may engage with KORU Medical’s management, board, and other stockholders on issues such as capitalization, ownership structure, board composition, or operations.