CorMedix Reports Tripled Profits but Maintains Revenue Guidance
On August 13, CorMedix (NASDAQ:CRMD) reported second-quarter revenue of $101.9 million and net income of $26 million, with adjusted EBITDA nearly tripling to $58.7 million compared to the prior year. The strong performance was driven by DefenCath's continued adoption in dialysis centers and contributions from its acquired Melinta portfolio. Despite these results, CorMedix did not raise full-year revenue guidance, which remained at a range of $325–$345 million. Management instead lifted adjusted EBITDA expectations to between $125–$140 million while narrowing cash operating expense forecasts. The company also signed a new multi-year supply agreement with one of the top five U.S. dialysis providers, expanding its commercial reach. Operating expenses increased significantly due in part to Melinta integration and expanded R&D efforts for DefenCath's TPN indication program and REZZAYO’s sNDA submission expected later this year.
Tickers: $CRMD
Topics: ebitda guidance pipeline_updates revenue_growth