KORU Medical Systems (KRMD)
Market Price (6/22/2026): $3.89 | Market Cap: $180.4 MilSector: Health Care | Industry: Health Care Equipment
KORU Medical Systems (KRMD)
Market Price (6/22/2026): $3.89Market Cap: $180.4 MilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Home Infusion Therapy, and Home-Based Chronic Disease Management. | Weak multi-year price returns3Y Excs Rtn is -75% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.0% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 253x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.5% Key risksKRMD key risks include [1] its ongoing profitability challenges characterized by negative earnings and margin pressure. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Home Infusion Therapy, and Home-Based Chronic Disease Management. |
| Weak multi-year price returns3Y Excs Rtn is -75% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.0% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 253x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.5% |
| Key risksKRMD key risks include [1] its ongoing profitability challenges characterized by negative earnings and margin pressure. |
Qualitative Assessment
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Updated on 6/1/2026
KORU Medical Systems (KRMD) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Persistent Net Losses and Margin Compression: KORU Medical Systems continued to report a net loss of $0.8 million in Q1 2026, despite narrowing it by 31% year-over-year. This ongoing lack of profitability likely contributed to negative investor sentiment. Additionally, the gross margin declined to 61.5% in Q1 2026 from 62.8% in the prior year, attributed primarily to higher production costs and tariff-related charges, which can concern investors regarding sustained profitability.
2. CEO Leadership Transition: The transition of CEO Linda Tharby from her executive role to an advisory capacity, effective March 15, 2026, with Adam Kalbermatten appointed as President, may have introduced a degree of investor uncertainty regarding the continuity of leadership and strategic execution. This change, announced on March 12, 2026, occurred within the specified period of stock decline.
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KORU Medical Systems (KRMD) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Persistent Net Losses and Margin Compression: KORU Medical Systems continued to report a net loss of $0.8 million in Q1 2026, despite narrowing it by 31% year-over-year. This ongoing lack of profitability likely contributed to negative investor sentiment. Additionally, the gross margin declined to 61.5% in Q1 2026 from 62.8% in the prior year, attributed primarily to higher production costs and tariff-related charges, which can concern investors regarding sustained profitability.
2. CEO Leadership Transition: The transition of CEO Linda Tharby from her executive role to an advisory capacity, effective March 15, 2026, with Adam Kalbermatten appointed as President, may have introduced a degree of investor uncertainty regarding the continuity of leadership and strategic execution. This change, announced on March 12, 2026, occurred within the specified period of stock decline.
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Updated on 6/1/2026
KORU Medical Systems (KRMD) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Persistent Net Losses and Margin Compression: KORU Medical Systems continued to report a net loss of $0.8 million in Q1 2026, despite narrowing it by 31% year-over-year. This ongoing lack of profitability likely contributed to negative investor sentiment. Additionally, the gross margin declined to 61.5% in Q1 2026 from 62.8% in the prior year, attributed primarily to higher production costs and tariff-related charges, which can concern investors regarding sustained profitability.
2. CEO Leadership Transition: The transition of CEO Linda Tharby from her executive role to an advisory capacity, effective March 15, 2026, with Adam Kalbermatten appointed as President, may have introduced a degree of investor uncertainty regarding the continuity of leadership and strategic execution. This change, announced on March 12, 2026, occurred within the specified period of stock decline.
3. Muted Investor Response to Positive Q1 Results: Despite KORU Medical Systems exceeding Q1 2026 revenue expectations with 22% year-over-year growth to $11.8 million and reaffirming its full-year guidance for revenue growth and positive adjusted EBITDA, the stock's reaction was minimal. The share price rose only 0.6% to 0.74% after the May 6, 2026, earnings announcement, indicating that these positive operational results were insufficient to significantly restore investor confidence or reverse the prevailing downward trend of approximately 15% since February 28, 2026.
Show less
KORU Medical Systems (KRMD) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Persistent Net Losses and Margin Compression: KORU Medical Systems continued to report a net loss of $0.8 million in Q1 2026, despite narrowing it by 31% year-over-year. This ongoing lack of profitability likely contributed to negative investor sentiment. Additionally, the gross margin declined to 61.5% in Q1 2026 from 62.8% in the prior year, attributed primarily to higher production costs and tariff-related charges, which can concern investors regarding sustained profitability.
2. CEO Leadership Transition: The transition of CEO Linda Tharby from her executive role to an advisory capacity, effective March 15, 2026, with Adam Kalbermatten appointed as President, may have introduced a degree of investor uncertainty regarding the continuity of leadership and strategic execution. This change, announced on March 12, 2026, occurred within the specified period of stock decline.
3. Muted Investor Response to Positive Q1 Results: Despite KORU Medical Systems exceeding Q1 2026 revenue expectations with 22% year-over-year growth to $11.8 million and reaffirming its full-year guidance for revenue growth and positive adjusted EBITDA, the stock's reaction was minimal. The share price rose only 0.6% to 0.74% after the May 6, 2026, earnings announcement, indicating that these positive operational results were insufficient to significantly restore investor confidence or reverse the prevailing downward trend of approximately 15% since February 28, 2026.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -18.2% change in KRMD stock from 2/28/2026 to 6/21/2026 was primarily driven by a -26.0% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.77 | 3.90 | -18.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 39 | 43 | 10.7% |
| P/S Multiple | 5.6 | 4.2 | -26.0% |
| Shares Outstanding (Mil) | 46 | 46 | -0.3% |
| Cumulative Contribution | -18.2% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| KRMD | -18.2% | |
| Market (SPY) | 9.2% | 29.4% |
| Sector (XLV) | -6.4% | 34.7% |
Fundamental Drivers
The -34.1% change in KRMD stock from 11/30/2025 to 6/21/2026 was primarily driven by a -40.3% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.92 | 3.90 | -34.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 39 | 43 | 10.7% |
| P/S Multiple | 7.0 | 4.2 | -40.3% |
| Shares Outstanding (Mil) | 46 | 46 | -0.3% |
| Cumulative Contribution | -34.1% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| KRMD | -34.1% | |
| Market (SPY) | 9.9% | 31.6% |
| Sector (XLV) | -4.4% | 23.5% |
Fundamental Drivers
The 44.4% change in KRMD stock from 5/31/2025 to 6/21/2026 was primarily driven by a 23.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.70 | 3.90 | 44.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 35 | 43 | 23.3% |
| P/S Multiple | 3.5 | 4.2 | 18.1% |
| Shares Outstanding (Mil) | 46 | 46 | -0.8% |
| Cumulative Contribution | 44.4% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| KRMD | 44.4% | |
| Market (SPY) | 28.1% | 20.0% |
| Sector (XLV) | 14.6% | 20.4% |
Fundamental Drivers
The 6.4% change in KRMD stock from 5/31/2023 to 6/21/2026 was primarily driven by a 48.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.67 | 3.90 | 6.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 29 | 43 | 48.9% |
| P/S Multiple | 5.7 | 4.2 | -27.2% |
| Shares Outstanding (Mil) | 45 | 46 | -1.9% |
| Cumulative Contribution | 6.4% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| KRMD | 6.4% | |
| Market (SPY) | 85.7% | 29.8% |
| Sector (XLV) | 22.9% | 25.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KRMD Return | -50% | 19% | -31% | 57% | 51% | -33% | -36% |
| Peers Return | 3% | -21% | -13% | 6% | -8% | -12% | -40% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| KRMD Win Rate | 33% | 50% | 58% | 58% | 50% | 17% | |
| Peers Win Rate | 47% | 42% | 42% | 47% | 38% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| KRMD Max Drawdown | -59% | -43% | -55% | -29% | -58% | -35% | |
| Peers Max Drawdown | -22% | -41% | -43% | -26% | -38% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: INFU, ICUI, BAX, BDX, PODD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | KRMD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.5% | -18.8% |
| % Gain to Breakeven | 94.2% | 23.1% |
| Time to Breakeven | 125 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.8% | -7.8% |
| % Gain to Breakeven | 17.4% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.5% | -9.5% |
| % Gain to Breakeven | 34.2% | 10.5% |
| Time to Breakeven | 228 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.8% | -6.7% |
| % Gain to Breakeven | 24.7% | 7.1% |
| Time to Breakeven | 504 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.3% | -24.5% |
| % Gain to Breakeven | 62.1% | 32.4% |
| Time to Breakeven | 175 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.5% | -33.7% |
| % Gain to Breakeven | 34.3% | 50.9% |
| Time to Breakeven | 7 days | 140 days |
In The Past
KORU Medical Systems's stock fell -48.5% during the 2025 US Tariff Shock. Such a loss loss requires a 94.2% gain to breakeven.
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| Event | KRMD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.5% | -18.8% |
| % Gain to Breakeven | 94.2% | 23.1% |
| Time to Breakeven | 125 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.5% | -9.5% |
| % Gain to Breakeven | 34.2% | 10.5% |
| Time to Breakeven | 228 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.3% | -24.5% |
| % Gain to Breakeven | 62.1% | 32.4% |
| Time to Breakeven | 175 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.5% | -33.7% |
| % Gain to Breakeven | 34.3% | 50.9% |
| Time to Breakeven | 7 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -30.3% | -17.9% |
| % Gain to Breakeven | 43.5% | 21.8% |
| Time to Breakeven | 15 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -42.7% | -15.4% |
| % Gain to Breakeven | 74.4% | 18.2% |
| Time to Breakeven | 22 days | 125 days |
In The Past
KORU Medical Systems's stock fell -48.5% during the 2025 US Tariff Shock. Such a loss loss requires a 94.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About KORU Medical Systems (KRMD)
KORU Medical Systems (KRMD) is a medical device company that specializes in designing, manufacturing, and marketing portable solutions primarily for the ambulatory infusion market. The company focuses on providing devices that enable patients to receive infusion therapies outside of traditional clinical settings, serving both domestic and international markets.
The core of KORU's product portfolio is the FREEDOM infusion systems, a suite of mechanical infusion products. Key components include the FREEDOM60 and FreedomEdge syringe drivers, which are central to delivering various therapies. These systems are supported by essential accessories such as HIgH-Flo subcutaneous safety needle sets and precision flow rate tubing. Additionally, KORU offers educational and training materials to ensure proper use and understanding of its products.
KORU Medical Systems' primary customers include clinicians, patients, and patient advocates who require convenient and effective at-home or portable infusion solutions. The company utilizes a multi-channel approach for distribution, selling its products through direct sales teams, medical device distributors, and an online platform.
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Insulet for a broader range of home infusions.
Dexcom for delivering infusions.
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- FREEDOM60 syringe driver: A mechanical device used for ambulatory infusion.
- FreedomEdge syringe driver: A mechanical device used for ambulatory infusion.
- HIgH-Flo subcutaneous safety needle sets: Specialized needle sets designed for safe subcutaneous fluid delivery.
- Precision flow rate tubing: Tubing designed to ensure accurate and controlled flow rates during infusion.
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Linda Tharby, Chief Executive Officer and President
Ms. Tharby has served as KORU Medical Systems' Chief Executive Officer and President since April 2021. She is slated to retire on June 30, 2026. Before joining KORU Medical Systems, Ms. Tharby spent 24 years with Becton Dickinson ("BD"), where she was a member of the Executive Leadership team that transformed the company from an $8 billion to an $18 billion global medical technology company. During her tenure at BD, she held numerous global business leadership roles, including Chief Customer Experience Officer, Chief Human Resources Officer, Executive Vice President and President of Life Sciences, Group President of Pre-Analytical Systems and Biosciences, Worldwide President of Diabetes Care, and Vice President/General Manager of Pharmaceutical Systems.
Adam Kalbermatten, Chief Commercial Officer (Incoming President and Chief Executive Officer, effective July 1, 2026)
Mr. Kalbermatten joined KORU Medical Systems as Chief Commercial Officer in July 2025. He will succeed Linda Tharby as President and Chief Executive Officer, effective July 1, 2026. Prior to KORU, he served as Vice President and General Manager of the Advanced Drug Delivery Systems business at Becton Dickinson ("BD"). Mr. Kalbermatten previously held the position of Chief Executive Officer of ZebraSci, a drug-device combination product development firm, where he successfully led a turnaround and growth strategy that resulted in the company's acquisition by BD.
Tom Adams, Chief Financial Officer
Mr. Adams joined KORU Medical Systems with medical device industry experience, having spent 10 years at Integra Life Sciences. His most recent role at Integra Life Sciences was Senior Director of Finance (FP&A). His career highlights include establishing the Finance function for a newly created manufacturing division at Integra, which involved creating processes, setting up systems for reporting, management presentations, and hiring a strong team.
Chris Pazdan, Chief Operating Officer
Mr. Pazdan joined KORU Medical Systems from Hillrom, where he served as the Vice President of Quality Assurance, responsible for all quality functions for Hillrom's largest manufacturing division. Before that role, he was the Vice President of QA/RA, where he was responsible for enterprise-wide Design Assurance, Supplier Quality Assurance, Project Management Office, and Software.
Eric Schiller, Chief Technology Officer
Mr. Schiller joined KORU Medical Systems as Chief Technology Officer in December 2025, bringing over 25 years of experience in medical devices and drug-device combination products. Prior to KORU, he held senior leadership roles at Sanofi, most recently serving as Global Head of Device Development Portfolio, overseeing more than 80 pipeline assets. Earlier in his career, he held leadership positions at Bristol Myers Squibb, Celgene, Becton Dickinson, and Saint-Gobain, where he led global commercialization efforts and advanced innovative drug-delivery technologies.
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The key risks to KORU Medical Systems (KRMD) include regulatory challenges, significant dependence on a limited number of distributors and single-source suppliers, and ongoing profitability concerns that may necessitate additional funding.
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Regulatory Challenges: KORU Medical Systems faces the risk of failing to secure timely FDA approvals or comply with international regulations, such as the EU Medical Devices Regulation (EU MDR) by December 2028. Such failures could restrict the company's sales and growth in critical markets.
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Dependence on Distributors and Suppliers: A substantial portion of KORU Medical Systems' products are sold through a concentrated number of distributors, with a limited number of distributors accounting for approximately 77% of its 2025 net revenues and one U.S. distributor contributing 29%. Additionally, the company sources some components from single suppliers. Any disruption in these key relationships or within the supply chain could materially impact KORU Medical Systems' financial results.
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Profitability and Need for Additional Funding: While KORU Medical Systems saw a significant reduction in its net loss in 2025, the company continues to report a net loss and negative net margin and return on equity (ROE). Although near-term liquidity is adequate, future strategic initiatives, including product development and market expansion, may require raising additional capital, which could lead to dilution for existing shareholders.
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The clear emerging threat for KORU Medical Systems is the development and increasing adoption of advanced, integrated wearable drug delivery systems, often referred to as "patch pumps" or "on-body injectors." These systems offer greater patient convenience, discretion, and potentially easier use compared to traditional syringe drivers with separate tubing and needles, which comprise KORU's primary "FREEDOM infusion systems." As these wearable technologies expand their applicability to a broader range of therapies currently served by KORU's devices (such as subcutaneous immunoglobulin infusion), they could significantly displace demand for KORU's product line by offering a more modern and less obtrusive patient experience.
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KORU Medical Systems operates in several significant addressable markets for its large-volume subcutaneous infusion solutions, including home infusion therapy, ambulatory infusion, and the broader subcutaneous infusion device market.
The global home infusion therapy market was valued at USD 42.44 billion in 2025 and is projected to grow to USD 128.91 billion by 2034. North America is a dominant region within this market, holding a 41.20% share in 2025, and its market size was approximately USD 15.76 billion in 2023. The U.S. home infusion therapy market alone is estimated to be USD 18.19 billion by 2026.
For the global ambulatory infusion center market, the estimated value is USD 52.19 billion in 2025, with projections indicating a rise to USD 107.07 billion by 2032. Another estimate places the global market at USD 50.63 billion in 2025, expanding to roughly USD 126.27 billion by 2034. North America leads this market, accounting for an estimated 40.6% share in 2025.
More specifically, for subcutaneous infusion devices, the global market size is forecasted to reach USD 27.24 billion by 2035, growing from USD 16.99 billion in 2026. The global market for subcutaneous infusion pumps specifically was valued at USD 4.053 billion in 2025 and is anticipated to reach USD 5.942 billion by 2032.
KORU Medical Systems identifies its total addressable market opportunity at USD 2.7 billion globally. This figure combines the growing global immunoglobulin (Ig) market (exceeding USD 500 million) and new drug therapy areas that contribute an additional USD 2.2 billion. In Europe, the total addressable market for subcutaneous immunoglobulin (SCIg) is estimated to be over USD 50 million.
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KORU Medical Systems (KRMD) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Continued Market Share Gains in SCIG Business: KORU Medical Systems anticipates ongoing growth by outperforming the overall subcutaneous immunoglobulin (SCIG) market, both in the United States and internationally. This growth is expected to be fueled by new patient starts and increased market penetration. The company's global chronic SCIG patient base on the Freedom system increased approximately 20% in 2025.
- Expansion into New Therapeutic Areas: The company is focused on expanding its Freedom Infusion System platform beyond its core SCIG business into additional therapeutic indications. Key initiatives include the 510(k) clearance for use with UCB's RYSTIGGO and a planned entry into the oncology market in the second half of 2026 with Phesgo, following a filed 510(k) application.
- New Pharmaceutical Collaborations: KORU Medical Systems is actively pursuing and securing new pharmaceutical services and clinical trials (PST) collaborations. They have announced two new collaborations, including a Phase III nephrology molecule and a multi-indication drug in a Phase I trial, and expect non-recurring engineering (NRE) revenue from at least four new collaborations in 2026.
- Accelerated International Growth and Market Penetration: International expansion is a significant driver, with KORU Medical Systems reporting 71% growth in its international core business in Q4 2025. This growth is supported by increased penetration in established European markets, particularly driven by prefilled syringe conversions and the EU MDR certification for the Freedom60 system with prefilled syringe compatibility. The company plans to expand into one to two new international markets each quarter in 2026.
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Here is a summary of KORU Medical Systems' capital allocation decisions over the last 3-5 years:
Share Repurchases
- KORU Medical Systems authorized a stock repurchase program of up to $10 million in November 2020, valid through December 31, 2021. [cite: 2020 news, but relevant for period]
- As of December 31, 2024, and September 30, 2025, the company held 3,438,526 treasury shares at a cost of $3,882,494.
Share Issuance
- The number of common shares issued increased from 49,377,617 as of December 31, 2024, to 49,790,934 as of December 31, 2025.
- Additional paid-in capital increased by approximately $2.87 million in 2025, from $49,581,303 to $52,449,339, indicating capital raised through share issuance.
Inbound Investments
- The company engaged in Novel Therapies collaborations in 2023 and announced two new collaborations in the first quarter of 2024.
- In 2025, KORU Medical Systems announced two new pharmaceutical collaborations, expanding its development pipeline into new therapeutic areas, including a Phase III nephrology molecule and a multi-indication drug in a Phase I trial. These represent strategic partnerships for drug development utilizing KORU's systems.
Capital Expenditures
- In fiscal year 2024, capital expenditures for KORU Medical Systems were approximately $1.30 million.
- In 2025, capital was invested in next-generation consumables and pump production lines.
- The company stated its intent to continue investing in capital expenditures to support future new product launches.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| KORU Medical Systems Earnings Notes | 12/16/2025 | |
| Is KORU Medical Systems Stock Built to Withstand a Pullback? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 80.13 |
| Mkt Cap | 6.8 |
| Rev LTM | 2,529 |
| Op Inc LTM | 148 |
| FCF LTM | 231 |
| FCF 3Y Avg | 179 |
| CFO LTM | 393 |
| CFO 3Y Avg | 301 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.8% |
| Rev Chg 3Y Avg | 6.2% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Inc Chg LTM | 35.6% |
| Op Inc Chg 3Y Avg | 92.2% |
| Op Mgn LTM | 7.1% |
| Op Mgn 3Y Avg | 4.9% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 13.8% |
| CFO/Rev 3Y Avg | 11.9% |
| FCF/Rev LTM | 8.9% |
| FCF/Rev 3Y Avg | 5.5% |
Price Behavior
Price Behavior
| Market Price | $3.90 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -40.2% | |
| 50 Days | 200 Days | |
| DMA Price | $4.07 | $4.57 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -4.1% | -14.6% |
| 3M | 1YR | |
| Volatility | 45.0% | 52.7% |
| Downside Capture | 146.07 | 118.94 |
| Upside Capture | 51.82 | 102.76 |
| Correlation (SPY) | 24.5% | 19.8% |
KRMD Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.72 | 0.43 | 0.87 | 1.15 | 0.85 | 1.15 |
| Up Beta | 0.01 | -0.04 | 0.27 | 0.29 | 1.17 | 1.42 |
| Down Beta | 0.44 | -0.22 | 0.74 | 0.41 | 0.05 | 1.00 |
| Up Capture | -51% | 19% | 55% | 106% | 123% | 85% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 17 | 26 | 53 | 118 | 336 |
| Down Capture | -225% | 219% | 175% | 205% | 97% | 104% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 24 | 37 | 70 | 125 | 383 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRMD | |
|---|---|---|---|---|
| KRMD | 19.1% | 52.7% | 0.51 | - |
| Sector ETF (XLV) | 14.0% | 15.0% | 0.66 | 19.8% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 19.9% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 6.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -11.1% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 12.2% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 15.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRMD | |
|---|---|---|---|---|
| KRMD | -3.2% | 60.2% | 0.18 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 20.8% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 26.7% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 2.4% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 2.8% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 24.3% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 15.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRMD | |
|---|---|---|---|---|
| KRMD | 6.2% | 66.9% | 0.42 | - |
| Sector ETF (XLV) | 9.4% | 16.6% | 0.46 | 21.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 26.5% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 6.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 7.9% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 25.4% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 14.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 10.7% | -4.0% | -2.0% |
| 3/12/2026 | -0.7% | -0.2% | 0.7% |
| 1/12/2026 | 4.2% | -2.5% | -17.3% |
| 11/12/2025 | 15.1% | 15.1% | 53.7% |
| 8/6/2025 | 18.7% | 31.9% | 24.5% |
| 5/7/2025 | 21.0% | 10.7% | 13.2% |
| 3/12/2025 | -17.7% | -11.0% | -30.5% |
| 1/13/2025 | -0.3% | 3.3% | 17.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 13 |
| # Negative | 13 | 15 | 14 |
| Median Positive | 12.9% | 12.4% | 15.5% |
| Median Negative | -5.0% | -4.2% | -11.6% |
| Max Positive | 25.2% | 31.9% | 53.7% |
| Max Negative | -32.1% | -37.5% | -30.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 10.7% | -4.0% | -2.0% |
| 3/12/2026 | -0.7% | -0.2% | 0.7% |
| 1/12/2026 | 4.2% | -2.5% | -17.3% |
| 11/12/2025 | 15.1% | 15.1% | 53.7% |
| 8/6/2025 | 18.7% | 31.9% | 24.5% |
| 5/7/2025 | 21.0% | 10.7% | 13.2% |
| 3/12/2025 | -17.7% | -11.0% | -30.5% |
| 1/13/2025 | -0.3% | 3.3% | 17.4% |
| 11/13/2024 | -3.7% | 14.1% | 34.4% |
| 8/7/2024 | 16.4% | 8.5% | 15.5% |
| 5/1/2024 | 5.8% | 0.0% | -5.3% |
| 3/13/2024 | 3.3% | 8.5% | -1.9% |
| 11/8/2023 | -7.3% | -0.9% | 8.9% |
| 8/9/2023 | 4.2% | 8.9% | 8.9% |
| 5/4/2023 | -1.2% | -2.5% | -3.9% |
| 3/8/2023 | -10.5% | -4.0% | 0.8% |
| 11/9/2022 | 16.9% | 21.2% | 41.1% |
| 8/3/2022 | 2.7% | -6.8% | -6.1% |
| 5/4/2022 | -7.9% | -25.0% | -28.6% |
| 3/2/2022 | -5.0% | -5.4% | -9.8% |
| 11/10/2021 | 25.2% | 24.1% | 13.1% |
| 8/11/2021 | -3.1% | -4.2% | -18.1% |
| 5/12/2021 | 18.5% | 18.2% | 29.0% |
| 3/23/2021 | 0.5% | -6.9% | -13.3% |
| 1/26/2021 | -2.1% | -6.2% | -7.2% |
| 11/4/2020 | -32.1% | -37.5% | -14.2% |
| 8/5/2020 | -6.3% | -0.1% | -24.0% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 13 |
| # Negative | 13 | 15 | 14 |
| Median Positive | 12.9% | 12.4% | 15.5% |
| Median Negative | -5.0% | -4.2% | -11.6% |
| Max Positive | 25.2% | 31.9% | 53.7% |
| Max Negative | -32.1% | -37.5% | -30.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 03/02/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 03/23/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 03/04/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
| 06/30/2019 | 08/07/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 47.50 Mil | 48.75 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 48.75 Mil for 2026 | |
| 2026 Revenue Growth | 15.0% | 18.5% | 22.0% | 0 | 0 | Affirmed | Guidance: 18.5% for 2026 |
| 2026 Gross Margin | 61.0% | 62.0% | 63.0% | 0 | 0 | Affirmed | Guidance: 62.0% for 2026 |
Insider Activity
Updated 6/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kalbermatten, Adam R | President-Chief Commercial Off | Direct | Buy | 6152026 | 3.96 | 5,000 | 19,800 | 1,207,800 | Form |
| 2 | Kalbermatten, Adam R | President-Chief Commercial Off | Direct | Buy | 6152026 | 3.93 | 7,500 | 29,475 | 1,228,125 | Form |
| 3 | Schiller, Eric | Chief Technology Officer | Direct | Buy | 5202026 | 3.91 | 5,000 | 19,562 | 19,562 | Form |
| 4 | Tharby, Linda M | Chief Executive Officer | Direct | Buy | 5202026 | 1191.00 | 1,191 | 1,418,481 | 739,160,802 | Form |
| 5 | Pazdan, Christopher | Chief Operating Officer | Direct | Buy | 5182026 | 3.88 | 5,000 | 19,400 | 1,183,908 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kalbermatten, Adam R | President-Chief Commercial Off | Direct | Buy | 6152026 | 3.96 | 5,000 | 19,800 | 1,207,800 | Form |
| 2 | Kalbermatten, Adam R | President-Chief Commercial Off | Direct | Buy | 6152026 | 3.93 | 7,500 | 29,475 | 1,228,125 | Form |
| 3 | Schiller, Eric | Chief Technology Officer | Direct | Buy | 5202026 | 3.91 | 5,000 | 19,562 | 19,562 | Form |
| 4 | Tharby, Linda M | Chief Executive Officer | Direct | Buy | 5202026 | 1191.00 | 1,191 | 1,418,481 | 739,160,802 | Form |
| 5 | Pazdan, Christopher | Chief Operating Officer | Direct | Buy | 5182026 | 3.88 | 5,000 | 19,400 | 1,183,908 | Form |
| 6 | Adams, Thomas Edward | Chief Financial Officer | Direct | Buy | 5182026 | 3.86 | 5,500 | 21,248 | 1,190,476 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/21/2026