Revenue growth is driven by the Melinta acquisition and DefenCath expansion, but Q2 revenue ($101.9M) declined sequentially from Q1 ($127.4M) due to a non-recurring $9M sales allowance adjustment in Q1. The raised EBITDA guidance and new LDO contract are positive, but the sequential revenue drop and pending TDAPA expiration warrant monitoring. Watch for REZZAYO sNDA submission in Q3 and the LDO pilot start.
Price Chart
Executive Summary
CorMedix reported Q2 2026 consolidated revenue of $101.9M and net income of $26.0M ($0.33 basic EPS), compared to $39.7M revenue and $19.8M net income in Q2 2025. The company maintained full-year revenue guidance of $325-$345M and raised adjusted EBITDA guidance to $125-$140M. DefenCath sales of $66.1M and Melinta portfolio contributions of $35.8M drove results, while the company signed a new supply agreement with a large dialysis operator covering all top 5 U.S. providers.
Key Financial Metrics
Key Facts
- Q2 2026 consolidated revenue of $101.9M vs $39.7M in Q2 2025
- Net income of $26.0M ($0.33 basic EPS) vs $19.8M ($0.29 basic EPS) in Q2 2025
- Adjusted EBITDA of $58.7M vs $22.4M in Q2 2025
- Full-year 2026 revenue guidance maintained at $325-$345M
- Full-year adjusted EBITDA guidance raised to $125-$140M from $115-$135M
- DefenCath sales of $66.1M; Melinta portfolio contributed $35.8M
- New multi-year commercial supply agreement with a Large Dialysis Operator covering all top 5 U.S. providers
- Cash and short-term investments of $256.7M at June 30, 2026
- FDA submission of REZZAYO sNDA for prophylaxis expected in Q3 2026
Financial Impact
Revenue grew 156% YoY to $101.9M; net income increased 31% to $26.0M; adjusted EBITDA rose 162% to $58.7M
Risk Factors
- Sequential revenue decline from $127.4M in Q1 to $101.9M in Q2
- Pending TDAPA reimbursement expiration for DefenCath
- Ongoing securities litigation with $4.2M insurance reimbursement partially offsetting G&A
- Dependence on Melinta acquisition integration and pipeline execution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001410098-26-000054 |
| Document: crmd-20260813.htm | 0001410098-26-000054 |
| Document: 0001410098-26-000054-index-headers.html | 0001410098-26-000054 |
| Document: 0001410098-26-000054-index.html | 0001410098-26-000054 |
| Document: 0001410098-26-000054.txt | 0001410098-26-000054 |
| 8-K Data (Synthetic) | 0001410098-26-000054 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | 8-K | $8.14 $7.83 | ▼ −3.87% | ▼ −2.12% | $7.19 (−11.67%) |
Aug 13, 2026 7w ago | Press Release | $8.14 $7.83 | ▼ −3.87% | ▼ −2.12% | $7.19 (−11.67%) |
Jul 1, 2026 13w ago | 8-K | $8.47 $7.19 | ▼ −15.11% | ▼ −12.93% | $7.19 (−15.11%) |
Jun 12, 2026 16w ago | Institutional Cluster | $8.74 $8.40 | ▼ −3.89% | ▼ −5.67% | $7.19 (−17.73%) |
Jun 8, 2026 16w ago | 8-K | $8.54 $8.79 | ▲ +2.93% | ▲ +1.30% | $7.19 (−15.81%) |
Jun 8, 2026 16w ago | Press Release | $8.54 $8.79 | ▲ +2.93% | ▲ +1.30% | $7.19 (−15.81%) |
May 14, 2026 20w ago | 8-K | $7.93 $8.74 | ▲ +10.21% | ▲ +11.07% | $7.19 (−9.33%) |
May 14, 2026 20w ago | Press Release | $7.93 $8.74 | ▲ +10.21% | ▲ +11.07% | $7.19 (−9.33%) |
Apr 27, 2026 22w ago | 8-K | $7.82 $8.27 | ▲ +5.75% | ▲ +0.80% | $7.19 (−8.06%) |
Apr 27, 2026 22w ago | Press Release | $7.82 $8.27 | ▲ +5.75% | ▲ +0.80% | $7.19 (−8.06%) |
US Market Status
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