Cormedix Inc. income statement
In fiscal 2025, Cormedix Inc. reported revenue of $312m, up 617.0% on the year before, operating income of $150m (a 48.2% margin) and net income of $163m, or $2.04 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43 | 312 | 462 |
| Cost of revenue | 0 | −0 | −0 | −0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 22 | — |
| Gross profit | 0 | −0 | −0 | −0 | −0 | 0 | 0 | −0 | 0 | 0 | 0 | 40 | 276 | 383 |
| Research and development | 1 | 1 | 1 | 6 | 16 | 24 | 19 | 11 | 13 | 13 | 11 | 4 | 19 | 28 |
| Selling, general and administrative | — | — | — | — | — | — | 8 | 10 | 14 | 16 | 20 | — | — | — |
| Selling and marketing | — | — | — | — | — | — | — | — | — | — | — | 29 | 38 | 52 |
| General and administrative | 2 | 3 | 7 | 10 | 9 | 9 | — | — | — | — | — | 30 | 68 | 86 |
| Operating income | −3 | −5 | −9 | −17 | −25 | −33 | −27 | −21 | −27 | −29 | −31 | −22 | 150 | 217 |
| Interest expense | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 3 | — |
| Net interest income | — | — | — | — | — | — | — | — | — | — | — | 1 | — | — |
| Income before tax | −3 | −9 | −20 | −18 | −25 | −33 | −27 | −21 | −27 | −29 | −30 | −19 | 150 | 203 |
| Income tax | 0 | 0 | — | — | — | — | — | −5 | −5 | −1 | −1 | −1 | −13 | 16 |
| Net income | −3 | −9 | −20 | −18 | −25 | −33 | −27 | −16 | −22 | −28 | −30 | −18 | 163 | 187 |
| Diluted EPS | −$0.90 | −$2.07 | −$2.88 | −$1.74 | −$1.95 | −$1.80 | −$1.51 | −$1.80 | −$0.77 | −$0.75 | −$0.74 | −$0.30 | $2.04 | — |
| Diluted shares (average) | 4m | 5m | 7m | 10m | 13m | 18m | 18m | 24m | 29m | 38m | 40m | 59m | 80m | — |
| EBITDA | −3 | −5 | −9 | −17 | −25 | −33 | −27 | −21 | −27 | −29 | −31 | −22 | 151 | 238 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11 | 31 | 39 | 40 | 104 | 129 | 127 | 102 |
| Cost of revenue | 1 | 1 | 2 | 2 | 8 | 11 | 12 | — |
| Gross profit | 11 | 30 | 37 | 38 | 93 | 107 | 105 | 77 |
| Research and development | 1 | 2 | 3 | 2 | 5 | 9 | 7 | 7 |
| Selling and marketing | 7 | 8 | 4 | 6 | 11 | 16 | 13 | 12 |
| General and administrative | 7 | 7 | 10 | 10 | 25 | 24 | 22 | 15 |
| Operating income | −3 | 13 | 20 | 20 | 51 | 59 | 64 | 43 |
| Interest expense | 0 | 0 | 0 | 0 | 1 | 2 | — | — |
| Income before tax | −3 | 13 | 21 | 20 | 53 | 56 | 56 | 39 |
| Income tax | 0 | −0 | 0 | 1 | −56 | 42 | 17 | 13 |
| Net income | −3 | 13 | 21 | 20 | 109 | 14 | 39 | 26 |
| Diluted EPS | −$0.05 | $0.24 | $0.30 | $0.28 | $1.26 | $0.07 | $0.43 | $0.29 |
| EBITDA | −3 | 13 | 20 | 20 | 51 | 59 | 74 | 53 |
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