What are the investment strengths of KORU Medical Systems Inc (KRMD)?

Superior gross margin (62.3% vs 53.1% median) with 2.6x asset turnover efficiency creates operating leverage potential as revenue scales past breakeven Low debt/equity 0.22x with 8.5M cash and 11.6M working capital provides runway without dilution risk near-term

What are the investment risks for KORU Medical Systems Inc (KRMD)?

Negative FCF (-179K TTM) and operating losses (-4.0M) at 39M revenue scale suggests structural profitability challenges, not just growth investment P/S 7.2x (3.7x industry median) and P/B 17.8x prices in growth that unprofitable operations haven't demonstrated

KORU Medical Systems Inc

KRMD

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KORU Medical Systems Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-22

Snapshot

Gross margin 62.3% TTM exceeds industry median 53.1% but operating losses (-4.0M) persist with R&D at 11.1% of revenue[Gross Margin TTM]
P/S ratio 7.2x vs industry median 1.9x - trading at 3.7x sector valuation despite negative earnings[P/S Ratio]
Asset turnover 1.43x TTM is 2.6x industry median (0.55x) - capital-efficient revenue generation[Asset Turnover TTM]

Watch Triggers

Operating Margin TTM: Improves to >-5% or deteriorates to <-15% — Current -10.3% margin trajectory determines if scale drives leverage or losses compound
Cash and Equivalents: Falls below 5M without profitability improvement — 8.5M cash at ~4M annual burn = 2yr runway; dilution risk accelerates below threshold
Total Revenue TTM: Growth rate >15% YoY — Revenue acceleration needed to absorb 28.4M OpEx base and reach breakeven

Bull Case

Superior gross margin (62.3% vs 53.1% median) with 2.6x asset turnover efficiency creates operating leverage potential as revenue scales past breakeven

Gross Margin TTMAsset Turnover TTM

Low debt/equity 0.22x with 8.5M cash and 11.6M working capital provides runway without dilution risk near-term

Debt to EquityCash and EquivalentsWorking Capital

Bear Case

Negative FCF (-179K TTM) and operating losses (-4.0M) at 39M revenue scale suggests structural profitability challenges, not just growth investment

Free Cash Flow TTMOperating Income TTM

P/S 7.2x (3.7x industry median) and P/B 17.8x prices in growth that unprofitable operations haven't demonstrated

P/S RatioP/B Ratio

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

35%

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Forward Thesis

Path to profitability hinges on operating leverage as revenue scales against fixed R&D/SG&A base

1-3ylow

62.3% gross margin provides cushion for OpEx absorption
R&D spend (4.4M) is 11% of revenue - high for 39M company
Asset turnover 2.6x peers suggests efficient capital deployment

Operating loss -4.0M TTM on 39.1M revenueCash position 8.5M covers ~2 years at current burnWorking capital 11.6M provides operational buffer

Valuation Context

Caveats

Public Strategies Rankings

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KRMD Fundamentals

Manufacturing → Miscellaneous Manufacturing

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$227.49M		—
Enterprise Value	$222.7M		—
P/E Ratio	0.00		—
Total Revenue - TTM	$39.07M	+22.1%	—
Earnings Per Share (diluted) - TTM	$-0.08		—
Operating Margin - TTM	-10.3%	+11.8%	—
Net Margin - TTM	-9.50%	+27.9%	—
Free Cash Flow - TTM	$-178,633		—
Return on Common Equity - TTM	-0.22	+31.3%	—
Beta 5Y (Monthly)	unknown		—

KRMD Dividend History

No dividends

KRMD Stock Splits

No stock splits

KRMD SEC Filings

Filing Date	Report Date	Report Type	Filing Link
11/12/25	09/30/25	10-Q	0001161697-25-000372
08/06/25	06/30/25	10-Q	0001161697-25-000217
05/07/25	03/31/25	10-Q	0001161697-25-000169
03/12/25	12/31/24	Unknown	0001161697-25-000103
11/13/24	09/30/24	10-Q	0001161697-24-000441
08/07/24	06/30/24	10-Q	0001161697-24-000334
05/01/24	03/31/24	10-Q	0001161697-24-000226
03/13/24	12/31/23	10-K	0001161697-24-000139
11/08/23	09/30/23	10-Q	0001161697-23-000568
08/09/23	06/30/23	10-Q	0001161697-23-000443
05/04/23	03/31/23	10-Q	0001161697-23-000281
03/08/23	12/31/22	10-K	0001161697-23-000158
11/09/22	09/30/22	10-Q	0001161697-22-000538
08/03/22	06/30/22	10-Q	0001161697-22-000377
05/04/22	03/31/22	10-Q	0001161697-22-000216
03/02/22	12/31/21	10-K	0001161697-22-000133
11/10/21	09/30/21	10-Q	0001161697-21-000525
08/11/21	06/30/21	10-Q	0001161697-21-000374
05/12/21	03/31/21	10-Q	0001161697-21-000247
03/23/21	12/31/20	10-K	0001161697-21-000169
11/12/20	09/30/20	10-Q	0001161697-20-000481
08/05/20	06/30/20	10-Q	0001161697-20-000352
05/06/20	03/31/20	10-Q	0001161697-20-000192
03/04/20	12/31/19	10-K	0001161697-20-000108
11/06/19	09/30/19	10-Q	0001161697-19-000477
08/07/19	06/30/19	10-Q	0001161697-19-000323
05/07/19	03/31/19	10-Q	0001161697-19-000182
03/05/19	12/31/18	10-K	0001161697-19-000090
11/09/18	09/30/18	10-Q	0001161697-18-000534
08/06/18	06/30/18	10-Q	0001161697-18-000405
05/07/18	03/31/18	10-Q	0001161697-18-000257
11/03/17	09/30/17	10-Q	0001161697-17-000469
08/04/17	06/30/17	10-Q	0001161697-17-000357
05/05/17	02/28/17	10-K	0001161697-17-000228
01/05/17	11/30/16	10-Q	0001161697-17-000004
10/07/16	08/31/16	10-Q	0001161697-16-001109
06/30/16	05/31/16	10-Q	0001161697-16-000947
05/13/16	02/29/16	10-K	0001161697-16-000829
01/08/16	11/30/15	10-Q	0001161697-16-000610
10/02/15	08/31/15	10-Q	0001161697-15-000420
07/10/15	05/31/15	10-Q	0001161697-15-000285
05/08/15	02/28/15	10-K	0001161697-15-000213
01/14/15	11/30/14	10-Q	0001161697-15-000015
10/15/14	08/31/14	10-Q	0001161697-14-000512
07/15/14	05/31/14	10-Q	0001161697-14-000329
05/29/14	02/28/14	10-K	0001161697-14-000223
01/14/14	11/30/13	10-Q	0001161697-14-000018
10/15/13	08/31/13	10-Q	0001161697-13-000752
07/15/13	05/31/13	10-Q	0001161697-13-000485
05/29/13	02/28/13	10-K	0001161697-13-000351
01/14/13	11/30/12	10-Q	0001161697-13-000045
10/15/12	08/31/12	10-Q	0001161697-12-000774
07/16/12	05/31/12	10-Q	0001161697-12-000552
05/29/12	02/29/12	10-K	0001161697-12-000406
01/17/12	11/30/11	10-Q	0001161697-12-000018
10/17/11	08/31/11	10-Q	0001161697-11-000925
07/15/11	05/31/11	10-Q	0001161697-11-000656
05/27/11	02/28/11	10-K	0001161697-11-000501
01/14/11	11/30/10	10-Q	0001161697-11-000024
10/15/10	08/31/10	10-Q	0001161697-10-000954
07/15/10	05/31/10	10-Q	0001161697-10-000637
06/01/10	02/28/10	10-K	0001161697-10-000496
01/14/10	11/30/09	10-Q	0001161697-10-000041
10/15/09	08/30/09	10-Q	0001161697-09-001005
07/15/09	05/30/09	10-Q	0001161697-09-000648
05/29/09	02/28/09	10-K	0001161697-09-000530
01/13/09	11/30/08	10-Q	0001161697-09-000058
10/15/08	08/30/08	Unknown	--
05/31/08	05/30/08	Unknown	--
02/29/08	02/29/08	NT 10-K	0001161697-08-000621
11/30/07	11/30/07	NT 10-Q	0001161697-08-000022
08/31/07	08/30/07	Unknown	--
05/31/07	05/30/07	Unknown	--
02/28/07	02/28/07	NT 10-K	0001161697-07-000639
11/30/06	11/30/06	NT 10-Q	0001161697-07-000046
08/31/06	08/30/06	Unknown	--
05/31/06	05/30/06	Unknown	--
02/28/06	02/28/06	NT 10-K	0001161697-06-000542
11/30/05	11/30/05	NT 10-Q	0001161697-06-000052
08/31/05	08/30/05	Unknown	--
05/31/05	05/30/05	Unknown	--
02/28/05	02/28/05	NT 10-K	0001161697-05-000568
11/30/04	11/30/04	10QSB	0001161697-05-000034
08/31/04	08/30/04	Unknown	--
05/31/04	05/30/04	Unknown	--
02/29/04	02/29/04	10KSB	0001161697-04-000486
11/30/03	11/30/03	NT 10-Q	0001161697-04-000042
08/31/03	08/30/03	Unknown	--
05/31/03	05/30/03	Unknown	--
02/28/03	02/28/03	NT 10-K	0001161697-03-000250
11/30/02	11/30/02	NT 10-Q	0001161697-03-000010
08/31/02	08/30/02	Unknown	--
05/31/02	05/30/02	Unknown	--
02/28/02	02/28/02	NT 10-K	0001161697-02-000153
11/30/01	11/30/01	10QSB	0001161697-02-000011
08/31/01	08/30/01	Unknown	--
05/31/01	05/30/01	Unknown	--
02/28/01	02/28/01	10KSB	0001128778-01-500022
11/30/00	11/30/00	NT 10-Q	0000950136-01-000040
08/31/00	08/30/00	Unknown	--
05/31/00	05/30/00	Unknown	--