CorMedix (NASDAQ:CRMD) Issues Earnings Results, Misses Estimates By $0.70 EPS

Key Points

• Earnings miss but strong revenue: CorMedix reported Q4 EPS of $0.16 versus a $0.86 consensus (miss by $0.70) while posting revenue of $128.6M—beating estimates and up ~312% year‑over‑year with a 75.8% net margin.
• Acquisition and guidance affirmed: The company closed the Melinta acquisition, hit targeted $35M synergies, saw DefenCath peak sales near $260M, and reaffirmed 2026/2027 DefenCath and full‑year 2026 revenue ($300–320M) and Adjusted EBITDA ($100–125M) guidance.
• Near‑term reimbursement risk but solid financials and pipeline catalysts: A TDAPA reimbursement change on July 1, 2026 is expected to cause price erosion in H2 2026, yet CorMedix holds $148.5M in cash, authorized a $75M buyback, and expects Phase 3 REZZAYO top‑line data in Q2 2026 (estimated ~$2.5B opportunity).

CorMedix (NASDAQ:CRMD - Get Free Report) posted its earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.70), FiscalAI reports. The business had revenue of $128.62 million for the quarter, compared to analyst estimates of $127.02 million. CorMedix had a net margin of 75.83% and a return on equity of 51.77%. The company's revenue for the quarter was up 312.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share.

Here are the key takeaways from CorMedix's conference call:

• Acquisition and synergies: CorMedix closed the Melinta acquisition in Q3 2025 and says it achieved its targeted $35 million of synergies in Q4 while DefenCath reached peak sales of just under $260 million.
• Guidance affirmed: The company reaffirmed 2026 DefenCath guidance of $150–170M, 2027 DefenCath guidance of $100–125M, and full-year 2026 revenue and Adjusted EBITDA guidance of $300–320M and $100–125M, respectively.
• TDAPA transition risk: On July 1, 2026 TDAPA reimbursement shifts to a bundled add-on which management expects will cause price erosion in Q3–Q4 2026; negotiations with customers are ongoing and 2027 reimbursement may improve but near-term revenue concentration is expected to be front‑loaded into H1 2026.
• Pipeline catalyst — REZZAYO: Top-line data from the phase 3 ReSPECT study for REZZAYO prophylaxis are expected in Q2 2026, and management estimates the REZZAYO opportunity at roughly $2.5 billion across indications.
• Strong financial position: Q4 net revenue was $128.6M (DefenCath $91.2M, Melinta $37.4M), full-year pro forma revenue was $401.3M, cash and short-term investments totaled $148.5M, and the company has an active share repurchase program.

CorMedix Price Performance

Shares of CRMD stock traded down $0.74 on Thursday, reaching $6.38. 1,698,932 shares of the company were exchanged, compared to its average volume of 2,796,746. CorMedix has a 1 year low of $5.60 and a 1 year high of $17.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.73 and a current ratio of 1.94. The business has a 50-day moving average price of $8.29 and a 200 day moving average price of $10.43. The company has a market cap of $502.68 million, a price-to-earnings ratio of 3.10 and a beta of 1.31.

Analyst Ratings Changes

A number of brokerages have recently commented on CRMD. Truist Financial set a $16.00 target price on CorMedix in a research note on Thursday, January 8th. D. Boral Capital reissued a "buy" rating and issued a $14.00 price target on shares of CorMedix in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CorMedix in a research note on Wednesday, January 21st. Royal Bank Of Canada set a $13.00 target price on shares of CorMedix and gave the company an "outperform" rating in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of CorMedix from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.86.

Insider Buying and Selling

In other news, Director Alan W. Dunton sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the transaction, the director owned 40,250 shares in the company, valued at $523,250. This trade represents a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph Todisco sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $12.00, for a total value of $360,000.00. Following the sale, the chief executive officer owned 509,496 shares of the company's stock, valued at $6,113,952. The trade was a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 90,000 shares of company stock worth $1,095,200. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On CorMedix

A number of hedge funds have recently modified their holdings of the business. Comerica Bank boosted its position in CorMedix by 454.6% during the third quarter. Comerica Bank now owns 2,690 shares of the company's stock worth $31,000 after acquiring an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of CorMedix during the 2nd quarter worth approximately $42,000. Kestra Advisory Services LLC purchased a new stake in shares of CorMedix in the fourth quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd lifted its position in CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company's stock worth $51,000 after buying an additional 3,813 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in CorMedix during the third quarter worth $55,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix announced that its Board of Directors has initiated a stock buyback plan on Monday, February 2nd that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

About CorMedix

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company's lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.

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