The strong beat and raised guidance, combined with positive Phase III ReSPECT data, create a powerful catalyst. Monitor the sNDA submission timeline for REZZAYO in H2 2026 and the ongoing TPN study enrollment acceleration for further upside. The stock repurchase program and strong cash position provide downside support.
Price Chart
Executive Summary
CorMedix reported Q1 2026 revenue of $127.4M (21% above $105M consensus) and GAAP EPS of $0.43 diluted (30% above $0.33 consensus), driven by strong DefenCath sales ($97.5M) and the acquired Melinta portfolio ($29.9M). The company raised full-year 2026 revenue guidance to $325-345M and adjusted EBITDA guidance to $115-135M, while also announcing positive Phase III ReSPECT trial results for REZZAYO prophylaxis, supporting a bullish outlook.
Key Financial Metrics
Key Facts
- Q1 2026 net revenue $127.4M vs consensus $105.0M (beat by 21.3%)
- GAAP diluted EPS $0.43 vs consensus $0.33 (beat by 30.3%)
- DefenCath sales $97.5M, including $9.0M favorable change in estimate
- Melinta portfolio contributed $29.9M in revenue
- Net income $38.6M vs $20.6M in Q1 2025
- Adjusted EBITDA $70.0M vs $23.6M in Q1 2025
- Raised FY 2026 revenue guidance to $325-345M (from prior $310-330M)
- Raised FY 2026 adjusted EBITDA guidance to $115-135M
- Positive Phase III ReSPECT trial for REZZAYO prophylaxis; sNDA submission expected H2 2026
- Cash and short-term investments $178.1M at quarter end
Financial Impact
Revenue beat consensus by $22.4M (21.3%); EPS beat by $0.10 (30.3%); guidance raised by $15M at midpoint
Risk Factors
- Pending TDAPA expiration could pressure DefenCath revenue in future quarters
- Non-recurring $9.0M favorable estimate adjustment inflated Q1 DefenCath sales
- Integration and operating expense growth from Melinta acquisition (opex up 139% YoY)
- Clinical trial execution risk for TPN study and REZZAYO sNDA approval
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294799 |
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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