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Koru Medical Systems, Inc. (KRMD) stock

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NASDAQ: KRMD Nasdaq Health Care Equipment Next results ~November 10, 2026

C+ Fundamentals grade

Koru Medical Systems, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.0

Revenue-to-maturity cash-flow model

Base case. Range ~$2.5–$3.7 across our lower- and higher-growth cases (17.4%–27.4% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Koru Medical Systems, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders5 buying, 0 selling9 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds42 adding, 42 cuttingOf 18 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Koru Medical Systems files

Where Koru Medical Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $45m, up 22.4% on a year earlier, slower than the 23.3% growth a quarter earlier. Free-cash-flow margin rose to 1.6% from -6.0% a year earlier. Operating margin widened to -3.7% from -13.2%. The diluted share count is up 2.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $3.09 a share, against a share price of $3.24.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Koru Medical Systems, Inc.'s trailing-twelve-month revenue grew 22.4% year on year, with a free-cash-flow margin of 1.6%.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 500% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 22.4% over the last 12 months, against a median of 9.1% for health care equipment companies we cover.
  • Margins widening. Operating margin is up 9.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -3.7%: costs exceed revenue.
  • Share dilution. Diluted shares rose 2.5% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 49% and a beta of 0.7 against the S&P 500.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 56.2% over 90 days.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.02 against an average estimate of -$0.01: beat by 500.0%
Revenue
$12m, up 18.2% on a year earlier
Share reaction
-16.0% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
net revenues $47.5m to $48.5m (full year 2026); gross margin 62% to 64% (full year 2026)
Next report
November 10, 2026; average EPS estimate -$0.02

Koru Medical Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.0%
  • 1 week-2.2%
  • 1 month+3.0%
  • This year-47.5%
  • 1 year-23.0%
  • 5 years-5.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$45.1M
Operating margin
-3.7%
Net margin
-4.0%
EPS (TTM, diluted)
$-0.04

Growth

Revenue growth
+22.4%
Change in growth rate
−0.9 pts
Share count change
+2.5%

Cash

Free cash flow (TTM)
$703,933
FCF margin
1.6%
Stock pay % of revenue
6.1%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Governance
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Koru Medical Systems, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Koru Medical Systems, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.04 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$3.0 ~$2.5–$3.7 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$1.0 ~$1.1–$4.8 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.6 ~$1.0–$3.0 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Koru Medical Systems, Inc. with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$0.57$0.42$1.65$6.53$6.02$3.00$3.57$2.46$3.85$5.81$3.05
Market value$22m$16m$64m$255m$252m$133m$161m$112m$176m$268m$144m
+ Net debt (− = net cash)$0$0−$4m−$6m−$27m−$25m−$17m−$11m−$9m−$9m−$8m
Enterprise value$22m$16m$60m$249m$225m$108m$144m$101m$167m$259m$135m
Multiples
Price / sales 1.8x1.3x3.7x11.0x10.4x5.7x5.8x3.9x5.2x6.5x3.2x
Price / earnings 27.7x—70.5xn/m———————
Price / free cash flow 12.1x—54.3xn/m——————185.0x
EV / EBITDA 14.9x—41.0xn/m———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

46 /100

Moderate moat

How hard Koru Medical Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Cash operating profit has been a median 4.3% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 61.8%, moving by 2.6 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -8.4%; its worst year was -40.2%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -4.8% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 7.1% over five years; stock-based pay has been a median 6.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $11m and EPS of −$0.02 (range −$0.02 to −$0.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.01 −150% $48m +17%
Next $0.04 +800% $56m +17%

Next year's EPS estimate has moved −56.2% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −125.0% on 90 days ago. In the last 30 days, 0 analysts raised Koru Medical Systems, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Koru Medical Systems, Inc., last 90 days
−$0.05 $0.00 $0.05 $0.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.02 Current fiscal year, 60 days ago: $0.02 Current fiscal year, 30 days ago: $0.02 Current fiscal year, 7 days ago: $0.02 Current fiscal year, Now: −$0.01 −$0.01 Next fiscal year, 90 days ago: $0.08 Next fiscal year, 60 days ago: $0.08 Next fiscal year, 30 days ago: $0.08 Next fiscal year, 7 days ago: $0.08 Next fiscal year, Now: $0.04 $0.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.02$0.08
60 days ago $0.02$0.08
30 days ago $0.02$0.08
7 days ago $0.02$0.08
Now −$0.01$0.04

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.01 $0.02 +500.0%
Mar 2026 −$0.01 $0.00 +100.0%
Dec 2025 −$0.01 $0.01 +180.0%
Sept 2025 −$0.02 $0.00 +100.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • net revenues full year 2026 $47.5m to $48.5m Narrowed
    “Narrowing full year 2026 net revenues to be between $47.5 - $48.5 million, representing growth of 15% - 18%” source
  • gross margin full year 2026 62% to 64% Raised
    “Raising full year 2026 gross margin to be between 62 - 64%” source
  • year end cash balance full year 2026 —
    “Updating year end cash balance to be greater than $7.5 million to account for the technology acquisition” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 2026314

Counts of recommendations published by analysts covering Koru Medical Systems, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.4%
of tradable shares
Days to cover
3.1
at average volume
Short interest, 1 month
−10%
to October 15, 2026
Held by institutions
56%
of shares
Held by insiders
8.2%
of shares
Employees
73
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −23.0%

$3.96 on October 31, 2025 to $3.05

ThenNowEffect
Revenue (last 12 months) $37m $45m +22.4%
P/S multiple 4.9x 3.2x −35.5%
Share count 46m 47m −2.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +36.8%

$2.23 on November 3, 2023 to $3.05

ThenNowEffect
Revenue (last 12 months) $29m $45m +53.3%
P/S multiple 3.4x 3.2x −7.3%
Share count 45m 47m −3.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KRMD−50%+19%−31%+57%+51%−48%
Industry peers (median)−7%−37%−8%−20%−16%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KRMD33%50%58%58%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KRMD−59%−43%−55%−29%−58%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 84% from April 27, 2020 to June 13, 2022. Getting back needed a 537% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.93 – $6.52
From 52-week high
−53.2%
vs 50-day average
−2.6%
vs 200-day average
−23.9%
Volatility (1 year)
49%
Beta vs S&P 500
0.66

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±10.6%
After a week
7 up, 5 down
typical move ±11.0%
After a month
6 up, 6 down
typical move ±20.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −16.0% −0.4% −22.2% −24.1%
May 6, 2026 +8.8% +1.1% −5.6% −3.7%
March 12, 2026 −5.1% −2.1% −4.7% −3.8%
January 12, 2026 +2.3% 0.0% −1.2% −19.3%
November 12, 2025 +16.6% −1.6% +16.6% +55.0%
August 6, 2025 +18.0% +0.7% +31.1% +23.8%
May 7, 2025 +20.1% +1.1% +9.9% +12.4%
March 12, 2025 −13.2% −0.8% −6.1% −26.7%
January 13, 2025 +2.8% +0.3% +4.5% +17.4%
November 13, 2024 +3.7% −0.6% +22.9% +44.8%
August 7, 2024 +10.7% +1.6% +3.1% +9.8%
May 1, 2024 +9.7% +0.6% +3.7% −1.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Koru Medical Systems, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Koru Medical Systems, Inc.
$25M $30M $35M $40M $45M $50M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $28.7M Revenue (TTM), FY23 Q4: $28.5M Revenue (TTM), FY24 Q1: $29.3M Revenue (TTM), FY24 Q2: $30.8M Revenue (TTM), FY24 Q3: $32M Revenue (TTM), FY24 Q4: $33.6M Revenue (TTM), FY25 Q1: $35.1M Revenue (TTM), FY25 Q2: $36.8M Revenue (TTM), FY25 Q3: $39.1M Revenue (TTM), FY25 Q4: $41.1M Revenue (TTM), FY26 Q1: $43.3M Revenue (TTM), FY26 Q2: $45.1M $45.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $28.7M
FY23 Q4 $28.5M
FY24 Q1 $29.3M
FY24 Q2 $30.8M
FY24 Q3 $32M
FY24 Q4 $33.6M
FY25 Q1 $35.1M
FY25 Q2 $36.8M
FY25 Q3 $39.1M
FY25 Q4 $41.1M
FY26 Q1 $43.3M
FY26 Q2 $45.1M
Revenue growth, TTM YoY Koru Medical Systems, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 6.0% Revenue growth, TTM YoY, FY23 Q4: 2.2% Revenue growth, TTM YoY, FY24 Q1: 1.0% Revenue growth, TTM YoY, FY24 Q2: 4.7% Revenue growth, TTM YoY, FY24 Q3: 11.6% Revenue growth, TTM YoY, FY24 Q4: 18.0% Revenue growth, TTM YoY, FY25 Q1: 19.6% Revenue growth, TTM YoY, FY25 Q2: 19.6% Revenue growth, TTM YoY, FY25 Q3: 22.1% Revenue growth, TTM YoY, FY25 Q4: 22.2% Revenue growth, TTM YoY, FY26 Q1: 23.3% Revenue growth, TTM YoY, FY26 Q2: 22.4% 22.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 6.0%
FY23 Q4 2.2%
FY24 Q1 1.0%
FY24 Q2 4.7%
FY24 Q3 11.6%
FY24 Q4 18.0%
FY25 Q1 19.6%
FY25 Q2 19.6%
FY25 Q3 22.1%
FY25 Q4 22.2%
FY26 Q1 23.3%
FY26 Q2 22.4%
Operating margin (TTM) Koru Medical Systems, Inc.
-40% -30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -36.9% Operating margin (TTM), FY23 Q4: -36.0% Operating margin (TTM), FY24 Q1: -31.3% Operating margin (TTM), FY24 Q2: -23.2% Operating margin (TTM), FY24 Q3: -22.0% Operating margin (TTM), FY24 Q4: -19.2% Operating margin (TTM), FY25 Q1: -16.3% Operating margin (TTM), FY25 Q2: -13.2% Operating margin (TTM), FY25 Q3: -10.3% Operating margin (TTM), FY25 Q4: -7.2% Operating margin (TTM), FY26 Q1: -6.0% Operating margin (TTM), FY26 Q2: -3.7% -3.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -36.9%
FY23 Q4 -36.0%
FY24 Q1 -31.3%
FY24 Q2 -23.2%
FY24 Q3 -22.0%
FY24 Q4 -19.2%
FY25 Q1 -16.3%
FY25 Q2 -13.2%
FY25 Q3 -10.3%
FY25 Q4 -7.2%
FY26 Q1 -6.0%
FY26 Q2 -3.7%
FCF margin (TTM) Koru Medical Systems, Inc.
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -19.1% FCF margin (TTM), FY23 Q4: -20.0% FCF margin (TTM), FY24 Q1: -4.2% FCF margin (TTM), FY24 Q2: -3.6% FCF margin (TTM), FY24 Q3: -5.5% FCF margin (TTM), FY24 Q4: -4.9% FCF margin (TTM), FY25 Q1: -5.3% FCF margin (TTM), FY25 Q2: -6.0% FCF margin (TTM), FY25 Q3: -0.5% FCF margin (TTM), FY25 Q4: -1.2% FCF margin (TTM), FY26 Q1: 0.3% FCF margin (TTM), FY26 Q2: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -19.1%
FY23 Q4 -20.0%
FY24 Q1 -4.2%
FY24 Q2 -3.6%
FY24 Q3 -5.5%
FY24 Q4 -4.9%
FY25 Q1 -5.3%
FY25 Q2 -6.0%
FY25 Q3 -0.5%
FY25 Q4 -1.2%
FY26 Q1 0.3%
FY26 Q2 1.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-KT, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Feb 2011 2012 Feb 2012 2013 Feb 2013 2014 Feb 2014 2015 Feb 2015 2016 Feb 2016 2017 Feb 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 5 6 8 9 11 12 12 17 23 24 23 28 29 34 41 45
Gross profit — — — 5 7 8 8 11 15 15 14 15 17 21 26 28
EBITDA 1 1 1 1 1 1 −0 1 1 −1 −7 −10 −9 −6 −2 −1
Operating income 1 1 1 1 1 1 −1 1 1 −1 −7 −11 −10 −6 −3 −2
Net income 1 1 1 1 1 1 −1 1 1 −1 −5 −9 −14 −6 −3 −2
Diluted EPS $0.02 $0.02 $0.02 $0.02 $0.02 $0.02 −$0.01 $0.02 $0.01 −$0.03 −$0.10 −$0.19 −$0.30 −$0.13 −$0.06 −$0.04
Growth (year on year)
Revenue — +29.9% +21.5% +12.0% +29.3% +8.9% +0.4% +41.2% +33.5% +4.4% −2.8% +18.8% +2.2% +18.0% +22.2% +22.4%
EBITDA — +10.5% −10.0% −1.0% +15.4% +1.5% −130.0% — −37.2% −190.3% — — — — — —
Operating income — +7.9% −17.6% −5.2% +13.9% +3.0% −162.3% — −49.7% −314.2% — — — — — —
Net income — +15.9% −11.0% −3.1% +7.1% +3.9% −168.3% — −38.0% −314.8% — — — — — —
Diluted EPS — 0.0% 0.0% 0.0% 0.0% 0.0% −150.0% — −50.0% −400.0% — — — — — —
Margins
Gross margin — — — 61.0% 59.5% 62.1% 61.6% 62.3% 64.1% 61.8% 58.6% 55.1% 58.6% 63.4% 62.3% 62.4%
EBITDA margin 25.6% 21.8% 16.1% 14.3% 12.7% 11.9% −3.5% 8.5% 4.0% −3.5% −28.0% −36.5% −33.0% −16.5% −5.3% −1.9%
Operating margin 24.3% 20.2% 13.7% 11.6% 10.2% 9.6% −6.0% 6.7% 2.5% −5.2% −29.9% −38.6% −36.0% −19.2% −7.2% −3.7%
Net margin 14.3% 12.8% 9.3% 8.1% 6.7% 6.4% −4.4% 5.2% 2.4% −5.0% −19.4% −31.0% −48.2% −18.0% −6.4% −4.0%
Free-cash-flow margin 16.8% 5.1% 2.8% 8.8% 2.1% 14.6% −4.3% 6.8% 0.5% −6.9% −19.9% −29.3% −19.9% −4.8% −1.1% 1.7%
Cash flow
Cash from operations 1 1 1 1 1 2 −0 1 0 −1 −4 −5 −5 −0 0 1
Capital spending 0 0 1 0 1 0 0 0 0 1 0 3 1 1 1 1
Free cash flow 1 0 0 1 0 2 −1 1 0 −2 −5 −8 −6 −2 −0 1
Stock-based pay 0 — 0 0 0 0 0 0 1 2 3 3 3 3 3 3
Free cash flow after stock pay 1 — 0 1 0 2 −1 1 −1 −3 −7 −11 −8 −4 −3 −2
Balance sheet
Cash — — — — — — — 4 6 27 25 17 11 10 9 8
Total debt 0 0 0 — 0 0 — 0 0 0 1 0 0 0 0 0
Net debt (negative = net cash) — — — — — — — −4 −6 −27 −25 −17 −11 −9 −9 −8
Diluted shares 37m 35m 36m 37m 38m 38m 38m 39m 39m 42m 44m 45m 46m 46m 46m 47m
Returned to shareholders
Buybacks — — — — 0 — — — 0 — — — — — — —
Total returned — — — — 0 — — — 0 — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $28m
Short-term assets $20mLonger-term assets $8m
What it owes, and who funded it · $28m
Short-term liabilities $7mLonger-term liabilities $3mShareholders' equity $18m
  • Short-term assets cover short-term liabilities $20m of assets due within a year against $7m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $20m short-term assets against $3m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Koru Medical Systems, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.5%
year over year
R&D spending
9.9%
of revenue
Sales & admin spending
54.4%
of revenue
Days sales outstanding
50 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated KRMD TLSI CLPT SNWV MYO SENS Median
Revenue, last 12 months $45m $45m $45m $44m $43m $49m $99m
Revenue growth, last 12 months 22.4% 25.2% 32.5% 12.7% 6.1% 90.6% 9.2%
Revenue growth, 3-year average 15.3% 45.1% 26.8% 34.4% 35.4% 38.0% 13.5%
Revenue growth, latest quarter 18.2% 1.7% 36.3% −3.1% 21.3% 117.8% 10.2%
Gross margin 62.4% 85.8% 61.4% 76.3% 68.4% 54.9% 61.2%
Operating margin −3.7% −67.7% −70.6% 3.4% −27.1% −223.2% −8.5%
Operating margin, 3-year average −13.3% −122.3% −66.2% 7.0% −31.6% −261.7% −17.9%
Net margin −4.0% −62.6% −79.4% 34.7% −33.5% −225.3% −12.0%
Cash from operations / revenue 3.1% −50.6% −103.6% 11.9% −16.4% −197.6% −1.9%
Free-cash-flow margin 1.6% −51.6% −105.9% 9.6% −19.2% −199.5% −3.9%
Free-cash-flow margin, 3-year average −2.7% −119.5% −58.5% −0.8% −31.0% −230.3% −7.0%
Stock pay / revenue 6.1% 23.6% 18.4% 13.4% 6.4% 23.2% 6.1%
Change in share count 2.5% 73.8% 6.7% 78.4% 5.9% −2.8% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 22.4% 9.1% 37 of 129
Change in growth rate Growth -0.9pp -0.6pp 71 of 129
Gross margin Profitability 62.4% 61.9% 60 of 123
Operating margin Profitability -3.7% -8.3% 54 of 132
Net margin Profitability -4.0% -12.0% 51 of 133
Free-cash-flow margin Cash generation 1.6% -3.4% 48 of 128
Stock pay as % of revenue Cash generation 6.1% 6.1% 62 of 123
Change in share count Balance sheet 2.5% 3.3% 50 of 115
Days sales outstanding Balance sheet 50 days 57 days 44 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $30.2M 73.5% ▲ 9.9%
Outside the US $10.9M 26.5% ▲ 77.4%

From Koru Medical Systems, Inc.'s 10-K filed March 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$86.4M
Institutions reporting
85
Shares held vs prior quarter
▼ 2.2%
Positions opened / closed
11 / 17

Top buyers and sellers, Q2 2026: 42 institutions bought and 42 sold ; the biggest buyer was HRT Financial LP (+353K shares) and the biggest seller Empire Financial Management Company, LLC (−703K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
First Light Asset Management, LLC $14.2M 3.4M 16.5% ▼ 10.1%
Topline Capital Management, LLC $14.2M 3.4M 16.4% ▼ 4.0%
Blackrock, Inc. $11M 2.6M 12.8% ▲ 10.8%
Vanguard Capital Management LLC $7.6M 1.8M 8.8% ▲ 7.8%
Geode Capital Management, LLC $4.7M 1.1M 5.5% ▲ 7.3%
Simcoe Capital LLC $3.5M 827K 4.0% ▲ 2.0%
Meros Investment Management, LP $3.2M 760K 3.7% ▼ 0.1%
Lionhunter Capital Management, LLC $2.9M 693K 3.4% —
State Street Corp $2.7M 647K 3.1% ▼ 0.4%
Archon Capital Management LLC $2.7M 643K 3.1% 0.0%
HRT Financial LP $1.5M 353K 1.7% New
Northern Trust Corp $1.5M 347K 1.7% ▲ 7.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Koru Medical Systems, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.6M 9 trades by 5 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $1.6M net buying
Insider Date Trade Shares Price Value
Kalbermatten Adam R Chief Commercial Officer September 8, 2026 Buy 32,000 $3.16 $101,120
Kalbermatten Adam R President-Chief Commercial Off June 11, 2026 Buy 5,000 $3.96 $19,800
Kalbermatten Adam R President-Chief Commercial Off June 11, 2026 Buy 7,500 $3.93 $29,475
Schiller Eric Chief Technology Officer May 18, 2026 Buy 5,000 $3.91 $19,550
Tharby Linda M Chief Executive Officer May 15, 2026 Buy 1,191 $1191.00 $1.4M
Tharby Linda M Chief Executive Officer May 15, 2026 Buy 1,191 $3.92 $4,669
Adams Thomas Edward Chief Financial Officer May 14, 2026 Buy 5,041 $3.86 $19,458
Adams Thomas Edward Chief Financial Officer May 14, 2026 Buy 459 $3.90 $1,790
Pazdan Christopher Chief Operating Officer May 14, 2026 Buy 5,000 $3.88 $19,400

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 5, 2026
  • May 6, 2026
  • March 12, 2026
  • January 12, 2026
  • November 12, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Koru Medical Systems, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Koru Medical Systems, Inc. in brief

What does Koru Medical Systems, Inc. do?
Koru Medical Systems, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Koru Medical Systems, Inc.'s stock ticker?
Koru Medical Systems, Inc. trades under the ticker KRMD on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Koru Medical Systems, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Koru Medical Systems, Inc. reported revenue of $45.1M, 22.4% higher than a year earlier, according to its SEC filings.
What is Koru Medical Systems, Inc.'s free cash flow?
Koru Medical Systems, Inc.'s free-cash-flow margin is 1.6% of revenue over the trailing twelve months, ranking 48 of the 128 health care equipment companies we cover.
Who are Koru Medical Systems, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are First Light Asset Management, LLC, Topline Capital Management, LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Koru Medical Systems, Inc.'s market cap?
On November 2, 2026, Koru Medical Systems, Inc.'s market capitalisation was about $144M and net debt of -$8.3M. Market figures come from third-party market data and may be delayed.
Who are Koru Medical Systems, Inc.'s competitors?
In our Health Care Equipment peer group, the companies closest to Koru Medical Systems, Inc. are Trisalus Life Sciences, Inc., Clearpoint Neuro, Inc., Sanuwave Health, Inc., Myomo, Inc. and Senseonics Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Koru Medical Systems, Inc.'s.
Are insiders buying or selling Koru Medical Systems, Inc. stock?
Over the last 12 months, Koru Medical Systems, Inc.'s directors and officers reported 9 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Koru Medical Systems, Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Koru Medical Systems, Inc. announces its own schedule.