The strong revenue growth and profitability, driven by the Melinta acquisition and DefenCath sales, combined with the $75M buyback and reiterated guidance, suggest confidence in future performance. Traders should monitor upcoming Phase 3 data for Rezzayo in Q2 2026 as a key catalyst.
Price Chart
Executive Summary
CorMedix reported strong Q4 2025 financial results with $128.6 million in revenue, driven by DefenCath and the recent Melinta acquisition, and achieved full-year revenue of $311.7 million ($401.3 million pro forma). The company posted net income of $163.0 million and reiterated 2026 guidance of $300-$320 million in revenue and $100-$125 million in adjusted EBITDA, while announcing a $75 million share repurchase program.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $128.6 million, up from $31.2 million in Q4 2024
- Full-year 2025 revenue was $311.7 million, with pro forma revenue of $401.3 million
- Q4 2025 net income was $14.0 million; full-year net income was $163.0 million
- Adjusted EBITDA for Q4 2025 was $77.2 million, up from $15.3 million in Q4 2024
- Company reiterated 2026 guidance: $300-$320 million revenue and $100-$125 million adjusted EBITDA
- Board approved $75 million share repurchase program
- Cash and short-term investments totaled $148.5 million at year-end
Financial Impact
Q4 revenue grew 312% YoY to $128.6M; full-year revenue was $311.7M with pro forma of $401.3M; net income turned from $17.9M loss in 2024 to $163.0M profit in 2025
Segment Breakdown
| Segment | Revenue |
|---|---|
| DefenCath | $91.2M |
| Melinta portfolio | $37.4M |
Risk Factors
- Revenue growth is heavily influenced by the Melinta acquisition, making YoY comparisons difficult
- Future performance depends on successful integration of Melinta and clinical trial outcomes
- The $42.4M tax expense in Q4 was due to utilization of deferred tax assets, which may not recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-023881 |
| Document: ea027968001-8k_cormedix.htm | 0001213900-26-023881 |
| Document: 0001213900-26-023881-index-headers.html | 0001213900-26-023881 |
| Document: 0001213900-26-023881-index.html | 0001213900-26-023881 |
| Document: 0001213900-26-023881.txt | 0001213900-26-023881 |
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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