Koru Medical Systems, Inc. · NASDAQ:KRMD
Koru Medical Systems — Q3 2025 Earnings Presentation
17 slides from Koru Medical Systems's earnings presentation, Nov 12, 2025
Slide 1: KORU Medical Systems Q3 2025 Earnings Call
KORU Medical Systems Q3 2025 Earnings Call November 12, 2025 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All statements that are not historical fact are forward-looking statements. Forward-looking statements dis
Slide 3: Key Strategic Progress and Continued Acceleration of Revenue Growth
Q3 2025 Results Key Strategic Progress and Continued Acceleration of Revenue Growth Record Q3 revenues of $10.4 million, 27% growth over the prior year period with strength in Core SCIg business 1 driven by international expansion and new patient starts Announced two new Pharma Services and Clinical
Slide 4: US SCIg Market Remains Strong with 9%+ Forecasted Growth through 2029
Growth Opportunities US SCIg Market Remains Strong with 9%+ Forecasted Growth through 2029 1 Total US Ig Market, Historical and Forecasted 1,000,000 100,000 Drivers of Future SCIg Growth 9% 83.3K Increasing US SCIg penetration 800,000 SCIg CAGR 76.2K 80,000 5 yr Market driven by new PID patients and
Slide 5: International Expansion Fueling Growth with Opportunity for Further Market Share Gains
Growth Opportunities International Expansion Fueling Growth with Opportunity for Further Market Share Gains Growing KORU Market Share with Significant Opportunity for Accelerated Room for Additional Penetration International Growth Large and underpenetrated Global SCIg Market KORU has grown market s
Slide 6: Core Ig Business Continues to be Fueled with New Opportunities with Pharma Customers
Pipeline and Outlook Core Ig Business Continues to be Fueled with New Opportunities with Pharma Customers 7 Collaborations/Opportunities w/ 4 Ig Manufacturers 2 Commercial Opportunities by 2026 $450M Total Ig TAM2 New Ig Indications and Devices with 7 Pharma Collaborations Drive Share Gains and Geog
Slide 7: 4 New Drug Additions planned on KORU Freedom Infusion System by 2026
Pipeline and Outlook 4 New Drug Additions planned on KORU Freedom Infusion System by 2026 9 Collaborations/ 11 Opportunities 4 Commercial Opportunities by 2026 $1.8B Total TAM2 KRMD Pursuing Drug Internationally Expand Label Independently Expected KRMD Est. Global Total Asset Drug Trial Phase Next S
Slide 8: Strategic Oncology Infusion Market Entry Initiative Progressing to Plan
Pipeline and Outlook Strategic Oncology Infusion Market Entry Initiative Progressing to Plan Currently 7 Subcutaneous Oncology Drugs Successful US Pilot Study Validated Value ~$138M Available on the Market Using Syringe Manual Proposition for KORU Push Freedom System in Infusion Clinics 20301 TAM ✓
Slide 9: Q3 Revenue Growth - 2nd Consecutive Record $10M+, 27% Growth
Q3 Financials Q3 Revenue Growth - 2nd Consecutive Record $10M+, 27% Growth Net Revenues; Domestic Core In Millions • Decreased 5% y/y • Inventory reduction from distributor 27% $10.4 $10.4 • Impacted by a US distributor’s purchase of KORU product from one of our international distributors $0.6 • Par
Slide 10: Gross Margin Momentum Forecasted to Improve in Q4
Q3 Financials Gross Margin Momentum Forecasted to Improve in Q4 Consistent Performance >60% Gross Margin Third Quarter: 60.2% Gross Margin • 320 basis points decline y/y 63.4% 62.8% 63.5% • Higher manufacturing costs and 61-63% lower manufacturing yields 60.2% 60.2% • Geographical customer mix • Tar
Slide 11: Q3 Cash Generation Driven by Results of Operations
Q3 Financials Q3 Cash Generation Driven by Results of Operations $8.5M Cash Balance as of September 30, 2025 Key Drivers +$0.4M Q3 cash generation of $0.4M 3Q Cash Generation • Lower net losses driven by higher $0.9M $8.5M revenues and disciplined OpEx spending $8.1M $0.3M +$0.0M • Balanced working
Slide 12: YTD 2025 Financial Highlights – Driving toward profitability
Q3 Financials YTD 2025 Financial Highlights – Driving toward profitability YTD 2025 YTD 2024 Y/Y Δ 22% Revenue $30.2M $24.8 Growth 150bps Gross Margin 62.1% 63.6% Decrease 3% OpEx $21.2M $20.6M Increase 51% Net Loss ($2.2M) ($4.5M) Improvement 109% Adj. EBITDA* $0.12M ($1.7M) Improvement 50% Adj. EP
Slide 13: Raising 2025 Revenue Guidance
Outlook Raising 2025 Revenue Guidance Revenue Gross Margin Cash Flow Growth Profile Generation Increased to Reiterated between Reiterated positive $40.5-$41.0M, 61-63% cash flow from 20-22% growth operations for the full year 2025 Key Drivers/Milestones Key Drivers/Milestones Key Drivers/Milestones
Slide 14: Execution Milestones on Path to Accelerated Revenue Growth
Outlook Execution Milestones on Path to Accelerated Revenue Growth 2025 Financial Targets and Guidance • Revenue $40.5-$41.0M; 20-22% growth • Positive cash flow from operations for FY2025, Positive in 3Q25 • Adj. EBITDA growth, higher gross profit, increased operating leverage Enable More Drugs, Re
Slide 15: Strategically Positioned for Accelerated Growth
Outlook Strategically Positioned for Accelerated Growth Macro tailwinds driving adoption of subcutaneous therapy; >95 large-volume (>10mL) SC 1 drugs in development by major Pharma companies in multiple indications Strong underlying SCIg market; gaining greater market share domestically and 2 expand
Slide 16: Appendix
Appendix 16
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes the non-GAAP financial measures “adjusted EPS”, "adjusted diluted EPS“, and “adjusted EBITDA” that are not in accordance with, nor an alternate to, generally accepted accounting principles and may be different from non-GAAP measures used by othe