CorMedix Inc.
cormedix.comWhat Do They Do?
Sells DefenCath, a catheter-lock treatment, and infection-fighting and cardiovascular medicines to hospitals, dialysis clinics and other care providers.
10-K for FY2025, filed Mar 5, 2026CorMedix Inc. (collectively, with our wholly owned subsidiaries, referred to herein as “we,” “us,” “our” or the “Company”) is a…View ↗
On August 29, 2025, the Company acquired Melinta Therapeutics, LLC, a Delaware limited liability company (“Melinta”), which expanded the…View ↗
On November 15, 2023, we announced that the FDA approved the new drug application (“NDA”) for DefenCath, an antimicrobial catheter lock…View ↗
How Do They Make Money?
Hospitals, outpatient service providers and wholesale distributors buy the company’s products; product sales are tied to delivery when customers receive the goods.
10-K for FY2025, filed Mar 5, 2026The Company recognizes revenue when it believes that it is probable that it will collect the consideration to which it is entitled in…View ↗
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10-K for FY2025, filed Mar 5, 2026
FY2025 revenue by product or service ↗
$311.7M
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10-K for FY2025, filed Mar 5, 2026
$311.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product Sales, Net
Sold outright
10-K for FY2025, filed Mar 5, 2026 |
98% |
Product Sales, Net, FY2025
$304.3M Sources
|
Sold outright |
|
Contract revenue
|
2.4% |
Contract revenue, FY2025
$7.4M Sources
|
Who Are Their Customers?
CorMedix sells DefenCath directly to hospitals and outpatient dialysis center operators; its U.S. customers also include outpatient service providers and wholesale distributors.
10-K for FY2025, filed Mar 5, 2026
Do Revenues Turn Into Profits?
Yes. It kept 52 cents of every revenue dollar as net income in FY2025 and turned 55 cents into free cash flow.
10-K for FY2025, filed Mar 5, 2026
$150.1MView ↗
10-K for FY2025, filed Mar 5, 2026
$163.1MView ↗
10-K for FY2025, filed Mar 5, 2026
$172.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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Aug 13, 2026
Raised adjusted EBITDA guidance and maintained full-year revenue guidance
2026 revenue guidance stayed at $325 to $345 million; adjusted EBITDA guidance rose to $125 to $140 million.
Sources
8-K, filed Aug 13, 2026
CorMedix announces $101.9 million of total revenue and grant income ("consolidated revenue") for the second quarter of 2026, reflecting…View ↗
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Jul 1, 2026
Changed its independent auditor
It dismissed CBIZ CPAs and appointed Ernst & Young LLP for the fiscal year ending December 31, 2026.
Sources
8-K, filed Jul 1, 2026
On June 25, 2026, the Audit Committee approved the appointment of EY as the Company’s new independent registered public accounting firm for…View ↗
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Mar 6, 2026
Reaffirmed DefenCath sales guidance
The company reaffirmed a 2027 sales range of $100 million to $140 million after an earnings-call remark cited $100 million to $125 million.
Sources
8-K, filed Mar 6, 2026
On March 6, 2026, CorMedix, Inc. (the “Company” or “CorMedix”) released an updated investor presentation, which is furnished as Exhibit…View ↗
Growing. Revenue grew 1632.5x in 4 years, from $190.9K in FY2021 to $311.7M in FY2025, about 536% a year.
DefenCath moves into commercial use
DefenCath moved from a product candidate being developed for possible U.S. sales to an approved treatment launched for hemodialysis patients in hospitals and outpatient clinics.
10-K for FY2022, filed Mar 30, 2023 10-K for FY2025, filed Mar 5, 2026Our primary focus is on the development of our lead product candidate, DefenCath™, for potential commercialization in the United States, or…View ↗
Broader commercial portfolio
The portfolio expanded from DefenCath and Neutrolin to include hospital- and clinic-focused infection medicines and a cardiovascular product through the Melinta acquisition.
10-K for FY2022, filed Mar 30, 2023 10-K for FY2025, filed Mar 5, 2026Our primary focus is on the development of our lead product candidate, DefenCath™, for potential commercialization in the United States, or…View ↗
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