| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 127.43 | 226.1% |
| Total Income | 127.43 | 226.1% |
| Expenditure | 63.77 | 236.3% |
| PBT | 55.65 | 169.6% |
| Net Profit | 38.60 | 87.0% |
| OPM | 49.96% | 1.54pp |
| NPM | 30.29% | 22.53pp |
| EPS | 0.48 | 50.0% |
CorMedix Reports Q1 2026 Net Revenue of $127.4 million
14 May 2026 · 14 May, 5:06 pm
Summary
CorMedix Therapeutics reported a strong first quarter in 2026, with net revenue of $127.4 million and net income of $38.6 million. DefenCath sales were a significant contributor, along with revenue from the acquired Melinta portfolio. The company has updated its full-year 2026 guidance, increasing net revenue expectations to $325 to $345 million and adjusted EBITDA to $115 to $135 million. Positive Phase III results for REZZAYO® were announced, with plans for FDA submission in the second half of the year.
Key Highlights
- 1
CorMedix reported net revenue of $127.4 million for Q1 2026, driven by strong execution and positive demand trends.
- 2
Net income for Q1 2026 was $38.6 million, with adjusted EBITDA reaching $70.0 million.
- 3
DefenCath sales contributed $97.5 million to net revenue in Q1 2026, benefiting from higher utilization and a $9.0 million favorable change in sales allowance estimate.
- 4
The acquired Melinta portfolio contributed $29.9 million in Q1 2026, reflecting typical purchasing patterns.
- 5
Full-year 2026 net revenue guidance is increased to a range of $325 to $345 million.
- 6
Full-year 2026 adjusted EBITDA guidance is raised to a range of $115 to $135 million.
- 7
Positive Phase III topline results were announced for REZZAYO® in prophylaxis of invasive fungal diseases, with FDA submission expected in the second half of 2026.
Management Comments
Joseph Todisco
CorMedix has entered 2026 with strong momentum across all areas of our business. DefenCath continues to exceed expectations despite pending TDAPA expiration and demonstrates strong underlying utilization demand. In addition, we are advancing a pipeline of late-stage opportunities, including REZZAYO for prophylaxis, which we expect will meaningfully expand our long-term revenue opportunity. Lastly, we have delivered significant profitability and cash generation, allowing us to reinvest in growth, as well as shareholder value creation through stock repurchases, while preserving financial flexibility for new business development initiatives.
Informational and educational content only. Not investment advice.