CorMedix Inc. (CRMD)

From the record

CorMedix Inc.'s filings since 2017 show 6 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2021-01-21); an auditor change (8-K item 4.01, 3 times, the latest 2026-07-01) (its current reports).

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CorMedix Inc.'s 10 filed years say what it did: revenue went from $210 thousand in fiscal 2015 to $312 million in fiscal 2025, up 107.5% a year; it rose in 5 of 9 years; the deepest fall was 85% from fiscal 2018 to fiscal 2022; net income was positive in 1 of 10 of those years (its annual reports).

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Over the 3 fiscal years to 2025-12-31, CorMedix Inc.'s diluted share count grew about 25.9% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 8 sales (5 under scheduled 10b5-1 plans) and 1 purchase of their own stock on the open market in the year to 2026-09-30, buying about $276 thousand (their Form 4 filings).

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Return on equity: in the fiscal year ended 2025-12-31, CorMedix Inc. earned about 40 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 33 cents per dollar of everything the company owns. Leverage: it owed about 51 cents per dollar of assets, and net share issuance: its share count grew 36.4% over the year (the filed statements).

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CorMedix Inc.'s standing among 315 graded names in its industry family: revenue of $312 million in fiscal 2025 ranks in the top 23% by size; a net margin of 52.3% ranks in the top 5%; revenue growth of 535.6% a year over the last 3 filed years ranks in the top 3% (its annual reports).

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CorMedix Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Todisco, Joseph (Chief Executive Officer, as filed), filing under that title since 2022-05-12, 4.5 years (bottom 44% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 6 years (top 41%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (top 37%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

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CorMedix Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $145 million against no long-term debt tagged leaves 17.5% of its assets as net cash, bottom 36% of its family; cash from operations less capital spending is 55.4% of revenue (top 2%); a gross margin of 88.5% (top 18%); research spending of 6.2% of revenue (bottom 7%) (its annual report).

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CorMedix Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 535.6% a year over the last three filed years against 107.5% over all 10, speeding up (top 1% of its family); the newest year grew 618% (top 6%); research spending grew 21.9% a year (top 21%); capital spending grew 117.6% a year (top 8%) (its annual reports). CorMedix Inc. reported 3 product lines in fiscal 2025: DefenCath at $259 million (83%), Melinta Portfolio at $46 million (15%), Contract Revenue at $7 million (2%); 1 of 1 grew against the year before (its annual report).

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CorMedix Inc.'s newest year against its own record: revenue of $312 million in fiscal 2025 came in 17.5% above the $265 million its prior three years' pace pointed to (top 29% of its family); net income of $163 million against a prior three-year average of $25 million (top 2%); a net margin of 52.3% against losses larger than its revenue before (top 4%) (its annual reports).