2024 Q1 Form 10-Q Financial Statement

#000121390024041031 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1
Revenue
YoY Change
Cost Of Revenue $818.5K
YoY Change
Gross Profit -$818.5K
YoY Change
Gross Profit Margin
Selling, General & Admin $15.05M $7.610M
YoY Change 97.75% 60.17%
% of Gross Profit
Research & Development $837.4K $3.408M
YoY Change -75.42% 48.96%
% of Gross Profit
Depreciation & Amortization $21.83K $16.86K
YoY Change 29.43% -16.73%
% of Gross Profit
Operating Expenses $15.89M $11.02M
YoY Change 44.19% 56.53%
Operating Profit -$16.70M -$11.02M
YoY Change 51.62% 56.66%
Interest Expense $9.835K $8.776K
YoY Change 12.07% -579.56%
% of Operating Profit
Other Income/Expense, Net $843.3K $450.0K
YoY Change 87.43% -24647.35%
Pretax Income -$15.86M -$10.57M
YoY Change 50.1% 50.23%
Income Tax -$1.395M
% Of Pretax Income
Net Earnings -$14.47M -$10.57M
YoY Change 36.9% 50.23%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25 -$0.24
Diluted Earnings Per Share -$0.25 -$0.24
COMMON SHARES
Basic Shares Outstanding 54.98M shares 44.50M shares
Diluted Shares Outstanding 57.50M shares 44.09M shares

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.55M $55.60M
YoY Change 5.31% -9.87%
Cash & Equivalents $35.18M $25.27M
Short-Term Investments $23.37M $30.33M
Other Short-Term Assets $2.538M $1.181M
YoY Change 114.96% 45.71%
Inventory $2.320M
Prepaid Expenses $295.8K $2.910K
Receivables
Other Receivables
Total Short-Term Assets $63.41M $56.78M
YoY Change 11.67% -9.15%
LONG-TERM ASSETS
Property, Plant & Equipment $1.906M $1.608M
YoY Change 18.54% -30.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $103.8K $102.4K
YoY Change 1.46% 0.04%
Total Long-Term Assets $4.614M $2.452M
YoY Change 88.15% 0.9%
TOTAL ASSETS
Total Short-Term Assets $63.41M $56.78M
Total Long-Term Assets $4.614M $2.452M
Total Assets $68.02M $59.23M
YoY Change 14.84% -8.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.826M $1.447M
YoY Change 95.38% -16.86%
Accrued Expenses $6.553M $3.089M
YoY Change 112.13% 20.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.534M $4.675M
YoY Change 103.97% 8.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $476.6K $631.4K
YoY Change -24.52% -18.0%
Total Long-Term Liabilities $476.6K $631.4K
YoY Change -24.52% -18.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.534M $4.675M
Total Long-Term Liabilities $476.6K $631.4K
Total Liabilities $10.01M $5.306M
YoY Change 88.68% 4.77%
SHAREHOLDERS EQUITY
Retained Earnings -$336.2M -$285.9M
YoY Change 17.57%
Common Stock $54.96K $44.50K
YoY Change 23.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.01M $53.93M
YoY Change
Total Liabilities & Shareholders Equity $68.02M $59.23M
YoY Change 14.84% -8.78%

Cashflow Statement

Concept 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$14.47M -$10.57M
YoY Change 36.9% 50.23%
Depreciation, Depletion And Amortization $21.83K $16.86K
YoY Change 29.43% -16.73%
Cash From Operating Activities -$17.31M -$10.39M
YoY Change 66.54% 54.11%
INVESTING ACTIVITIES
Capital Expenditures $61.31K $14.77K
YoY Change 315.18% -441.81%
Acquisitions
YoY Change
Other Investing Activities $9.006M -$14.67M
YoY Change -161.38% 250.73%
Cash From Investing Activities $8.945M -$14.69M
YoY Change -160.9% 250.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$97.12K $7.200M
YoY Change -101.35% 139.68%
NET CHANGE
Cash From Operating Activities -$17.31M -$10.39M
Cash From Investing Activities $8.945M -$14.69M
Cash From Financing Activities -$97.12K $7.200M
Net Change In Cash -$8.463M -$17.88M
YoY Change -52.66% 125.51%
FREE CASH FLOW
Cash From Operating Activities -$17.31M -$10.39M
Capital Expenditures $61.31K $14.77K
Free Cash Flow -$17.37M -$10.41M
YoY Change 66.9% 54.43%

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2096 usd
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CY2023Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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44090998 shares
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CY2024Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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256 usd
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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2096 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2024Q1 us-gaap Comprehensive Income Net Of Tax
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CY2024Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Depreciation
Depreciation
21826 usd
CY2023Q1 us-gaap Depreciation
Depreciation
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CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
214051 usd
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1226454 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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16700000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Short Term Investments
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10750000 usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Share Based Compensation
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CY2024Q1 us-gaap Depreciation
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CY2023Q1 us-gaap Depreciation
Depreciation
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CY2024Q1 us-gaap Increase Decrease In Inventories
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CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
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CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments For Proceeds From Investments
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CY2024Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
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CY2023Q1 us-gaap Proceeds From Sale Of Short Term Investments
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CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2284 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43823192 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43374745 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35359907 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25496744 usd
CY2024Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2024Q1 us-gaap Liabilities Assumed1
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2000000 usd
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10903 usd
CY2023Q4 us-gaap Inventory Raw Materials
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1525420 usd
CY2024Q1 us-gaap Inventory Work In Process
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471415 usd
CY2023Q4 us-gaap Inventory Work In Process
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CY2024Q1 us-gaap Inventory Finished Goods
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CY2024Q1 us-gaap Inventory Net
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CY2023Q4 us-gaap Inventory Net
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43374745 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35359907 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25496744 usd
CY2024Q1 us-gaap Interest Paid Net
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9835 usd
CY2024Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
10903 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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CY2023 us-gaap Investment Income Operating Tax Expense Benefit
InvestmentIncomeOperatingTaxExpenseBenefit
1529000 usd
CY2024Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
104400000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35180529 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25268225 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
179378 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
228519 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35359907 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25496744 usd
CY2023 us-gaap Investment Income Operating Tax Expense Benefit
InvestmentIncomeOperatingTaxExpenseBenefit
1529000 usd
CY2024Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
104400000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain reclassifications were made to the prior year’s amounts to conform to the 2024 presentation.</p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35180529 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25268225 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
228519 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35359907 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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25496744 usd
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51716135 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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2137 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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315 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51714313 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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64920279 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1425 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
10506 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64929360 usd
CY2024Q1 crmd Inventories Expensed As Research And Development
InventoriesExpensedAsResearchAndDevelopment
6388000 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1424409 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
51716135 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2137 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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315 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51714313 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64920279 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1425 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64929360 usd
CY2024Q1 crmd Inventories Expensed As Research And Development
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6388000 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1424409 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1525420 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
471415 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
580925 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
424572 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
2320396 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2106345 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13811527 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11782480 shares
CY2024Q1 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q1 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
349421 usd
CY2023Q4 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
1835101 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13811527 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11782480 shares
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1340502 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2024Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2636726 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2718770 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1340502 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2024Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2636726 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2718770 usd
CY2024Q1 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q1 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
349421 usd
CY2023Q4 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
1835101 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
226662 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146324 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6553311 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6970217 usd
CY2024Q1 crmd Amount Of Initial Licensing Fee
AmountOfInitialLicensingFee
325000 usd
CY2024Q1 crmd Shares Of Equity Of Common Stock
SharesOfEquityOfCommonStock
7996 shares
CY2024Q1 crmd Number Of Shares Released In Escrow
NumberOfSharesReleasedInEscrow
7277 shares
CY2024Q1 crmd Maximum Aggregate Amount Of Cash Payments Due Upon Achievement Of Milestones
MaximumAggregateAmountOfCashPaymentsDueUponAchievementOfMilestones
3000000 usd
CY2024Q1 crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
CY2023 crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
CY2024Q1 crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q1 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2000000 usd
CY2024Q1 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2023Q2 crmd Purchase Of Additional Shares
PurchaseOfAdditionalShares
1500093 shares
CY2024Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
362000 usd
CY2023Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
86000 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q1 crmd Shares Of Equity Of Common Stock
SharesOfEquityOfCommonStock
7996 shares
CY2024Q1 crmd Number Of Shares Released In Escrow
NumberOfSharesReleasedInEscrow
7277 shares
CY2024Q1 crmd Maximum Aggregate Amount Of Cash Payments Due Upon Achievement Of Milestones
MaximumAggregateAmountOfCashPaymentsDueUponAchievementOfMilestones
3000000 usd
CY2024Q1 crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
CY2023 crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
CY2024Q1 crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q1 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2000000 usd
CY2024Q1 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
104000000 usd
CY2023Q2 crmd Purchase Of Additional Shares
PurchaseOfAdditionalShares
1500093 shares
CY2024Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
362000 usd
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
155000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
477000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
668000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
151000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
517000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
605000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
640000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
51000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
50000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
154000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
208000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
211000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
169000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
742000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
110000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
632000 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 crmd License Intangible Asset Non Current
LicenseIntangibleAssetNonCurrent
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q1 us-gaap Revenues
Revenues
usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57503154 shares
CY2024Q1 crmd Cancellation Of Shares Held In Escrow
CancellationOfSharesHeldInEscrow
usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
usd
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2020Q3 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
17000 usd
CY2024Q1 crmd Rental Agreement Expense
RentalAgreementExpense
400 eur
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
632000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
155000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
477000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
668000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
151000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
517000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
605000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
640000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
51000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
50000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
154000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
208000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
169000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
742000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
110000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
632000 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 crmd License Intangible Asset Non Current
LicenseIntangibleAssetNonCurrent
usd
CY2024Q1 us-gaap Revenues
Revenues
usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57503154 shares
CY2024Q1 crmd Cancellation Of Shares Held In Escrow
CancellationOfSharesHeldInEscrow
usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
usd
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
usd
CY2023Q4 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
usd
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001410098
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
usd
CY2023Q4 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
usd
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001410098

Files In Submission

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0001213900-24-041031-index-headers.html Edgar Link pending
0001213900-24-041031-index.html Edgar Link pending
0001213900-24-041031.txt Edgar Link pending
0001213900-24-041031-xbrl.zip Edgar Link pending
crmd-20240331.xsd Edgar Link pending
ea0205096-10q_cormedix.htm Edgar Link pending
ea020509601ex31-1_cormedix.htm Edgar Link pending
ea020509601ex31-2_cormedix.htm Edgar Link pending
ea020509601ex32-1_cormedix.htm Edgar Link pending
ea020509601ex32-2_cormedix.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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R26.htm Edgar Link pending
crmd-20240331_cal.xml Edgar Link unprocessable
crmd-20240331_def.xml Edgar Link unprocessable
crmd-20240331_lab.xml Edgar Link unprocessable
crmd-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ea0205096-10q_cormedix_htm.xml Edgar Link completed
R27.htm Edgar Link pending
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R3.htm Edgar Link pending
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