$KRMD
KORU Medical Systems, Inc. Stock $krmd

$krmd Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000116169724000139 Filed on March 13, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$8.198M	$7.186M	$28.52M
YoY Change	10.89%	-2.16%	2.23%
Cost Of Revenue	$3.095M	$2.855M	$11.81M
YoY Change	-4.65%	-12.6%	-5.73%
Gross Profit	$5.103M	$4.331M	$16.71M
YoY Change	23.06%	6.2%	8.71%
Gross Profit Margin	62.25%	60.27%	58.59%
Selling, General & Admin	$5.358M	$5.013M	$20.37M
YoY Change	-1.26%	5.31%	-1.17%
% of Gross Profit	104.98%	115.74%	121.89%
Research & Development	$1.476M	$1.288M	$5.742M
YoY Change	-5.7%	-21.59%	15.86%
% of Gross Profit	28.92%	29.73%	34.37%
Depreciation & Amortization	$231.4K	$228.3K	$870.4K
YoY Change	8.56%	21.68%	48.24%
% of Gross Profit	4.53%	5.27%	5.21%
Operating Expenses	$7.065M	$6.529M	$26.98M
YoY Change	-1.93%	-0.93%	3.17%
Operating Profit	-$1.961M	-$2.198M	-$10.27M
YoY Change	-35.84%	-12.5%	-4.74%
Interest Expense		$176.7K	$556.2K
YoY Change		76.6%	426.12%
% of Operating Profit
Other Income/Expense, Net	$25.41K		$496.4K
YoY Change	-62.93%		369.57%
Pretax Income	-$1.936M	-$2.021M	-$9.774M
YoY Change	-35.22%	-16.19%	-8.45%
Income Tax		$5.445M	$3.967M
% Of Pretax Income
Net Earnings	-$1.936M	-$7.466M	-$13.74M
YoY Change	-19.7%	277.7%	58.65%
Net Earnings / Revenue	-23.62%	-103.9%	-48.18%
Basic Earnings Per Share	-$0.04		-$0.30
Diluted Earnings Per Share	-$0.04	-$0.16	-$0.30
COMMON SHARES
Basic Shares Outstanding	45.71M shares	45.67M shares	45.60M shares
Diluted Shares Outstanding	45.71M shares		45.60M shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments		$11.48M	$11.48M
YoY Change		-34.04%	-34.04%
Cash & Equivalents	$10.82M	$11.48M	$11.48M
Short-Term Investments
Other Short-Term Assets		$1.218M	$1.218M
YoY Change		-16.4%	-16.4%
Inventory	$3.147M	$3.481M	$3.481M
Prepaid Expenses	$830.4K	$1.218M
Receivables	$4.393M	$4.045M	$4.045M
Other Receivables		$28.89K	$28.89K
Total Short-Term Assets	$19.48M	$20.26M	$20.26M
YoY Change	-22.75%	-32.03%	-32.03%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.756M	$3.838M	$7.352M
YoY Change	-3.85%	-1.27%	-4.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$98.97K	$98.97K	$98.97K
YoY Change	0.0%	-3.56%	-97.57%
Total Long-Term Assets	$8.021M	$8.205M	$8.205M
YoY Change	-38.48%	-34.52%	-34.52%
TOTAL ASSETS
Total Short-Term Assets	$19.48M	$20.26M	$20.26M
Total Long-Term Assets	$8.021M	$8.205M	$8.205M
Total Assets	$27.50M	$28.46M	$28.46M
YoY Change	-28.11%	-32.77%	-32.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.774M	$975.2K	$975.2K
YoY Change	18.03%	-59.23%	-59.23%
Accrued Expenses	$1.459M	$1.711M	$2.543M
YoY Change	-8.31%	-40.78%	-32.7%
Deferred Revenue
YoY Change
Short-Term Debt		$314.3K	$314.3K
YoY Change		-27.45%	-27.45%
Long-Term Debt Due		$109.5K	$109.5K
YoY Change		11.39%	11.39%
Total Short-Term Liabilities	$4.853M	$4.454M	$4.454M
YoY Change	7.27%	-35.99%	-35.99%
LONG-TERM LIABILITIES
Long-Term Debt		$316.6K	$316.6K
YoY Change		-19.7%	-19.7%
Other Long-Term Liabilities		$3.336M	$3.336M
YoY Change		-8.68%	-8.68%
Total Long-Term Liabilities		$3.653M	$3.653M
YoY Change		-9.75%	-9.75%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.853M	$4.454M	$4.454M
Total Long-Term Liabilities		$3.653M	$3.653M
Total Liabilities	$8.383M	$8.107M	$8.107M
YoY Change	-0.88%	-26.34%	-26.34%
SHAREHOLDERS EQUITY
Retained Earnings	-$25.25M	-$23.31M
YoY Change	110.72%	143.57%
Common Stock	$48.21M	$47.51M
YoY Change	5.67%	6.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$3.844M	$3.844M
YoY Change	0.0%	0.0%
Treasury Stock Shares
Shareholders Equity	$19.12M	$20.35M	$20.35M
YoY Change
Total Liabilities & Shareholders Equity	$27.50M	$28.46M	$28.46M
YoY Change	-28.11%	-32.77%	-32.77%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	-$1.936M	-$7.466M	-$13.74M
YoY Change	-19.7%	277.7%	58.65%
Depreciation, Depletion And Amortization	$231.4K	$228.3K	$870.4K
YoY Change	8.56%	21.68%	48.24%
Cash From Operating Activities	-$346.7K	$1.097M	-$4.893M
YoY Change	-92.56%	-17.93%	-9.47%
INVESTING ACTIVITIES
Capital Expenditures		$208.4K	$814.6K
YoY Change		-6.91%	-70.92%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$133.1K	-$208.4K	-$814.6K
YoY Change	-53.11%	-6.91%	-70.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change			-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$182.1K	-178.4K	-$218.9K
YoY Change	-23.79%	22.5%	-178.31%
NET CHANGE
Cash From Operating Activities	-$346.7K	1.097M	-$4.893M
Cash From Investing Activities	-$133.1K	-208.4K	-$814.6K
Cash From Financing Activities	-$182.1K	-178.4K	-$218.9K
Net Change In Cash	-$661.9K	710.1K	-$5.926M
YoY Change	-87.23%	-26.57%	-25.24%
FREE CASH FLOW
Cash From Operating Activities	-$346.7K	$1.097M	-$4.893M
Capital Expenditures		$208.4K	$814.6K
Free Cash Flow		$888.4K	-$5.707M
YoY Change		-20.15%	-30.45%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
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CY2023	dei	Document Type DocumentType	10-K
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	0-12305
CY2023	dei	Entity Registrant Name EntityRegistrantName	KORU MEDICAL SYSTEMS, INC
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	13-3044880
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	100 Corporate Drive
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Mahwah
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	07430
CY2023	dei	City Area Code CityAreaCode	845
CY2023	dei	Local Phone Number LocalPhoneNumber	469-2042
CY2023	dei	Security12b Title Security12bTitle	common stock, $0.01 par value
CY2023	dei	Trading Symbol TradingSymbol	KRMD
CY2023	dei	Security Exchange Name SecurityExchangeName	NASDAQ
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CY2023	dei	Auditor Firm AuditorFirmId	256
CY2023	dei	Auditor Name AuditorName	McGrail Merkel Quinn & Associates, P.C.
CY2023	dei	Auditor Location AuditorLocation	Scranton, Pennsylvania
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CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	36501055	usd
CY2022	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	513082	usd
CY2022	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	2083396	usd
CY2022	us-gaap	Adjustments To Additional Paid In Capital Stock Issued Issuance Costs AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	482949	usd
CY2022	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	406623	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-8661142	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	31325963	usd
CY2023	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	446349	usd
CY2023	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	1940720	usd
CY2023	us-gaap	Adjustments To Additional Paid In Capital Stock Issued Issuance Costs AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	381801	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-13741062	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	20353771	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-13741062	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-8661142	usd
CY2023	us-gaap	Share Based Compensation ShareBasedCompensation	2768870	usd
CY2022	us-gaap	Share Based Compensation ShareBasedCompensation	3079427	usd
CY2023	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	870390	usd
CY2022	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	587137	usd
CY2023	us-gaap	Gain Loss On Sale Of Other Assets GainLossOnSaleOfOtherAssets	-59807	usd
CY2023	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	-2035297	usd
CY2022	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	-2026226	usd
CY2023	us-gaap	Deferred Purchased Power Costs DeferredPurchasedPowerCosts	6002777	usd
CY2023	krmd	Rou Landlord Credit RouLandlordCredit	-21988	usd
CY2022	krmd	Rou Landlord Credit RouLandlordCredit	212546	usd
CY2023	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	486327	usd
CY2022	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-34002	usd
CY2023	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-2923566	usd
CY2022	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	298529	usd
CY2023	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-943507	usd
CY2022	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	254176	usd
CY2023	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-242599	usd
CY2022	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-28776	usd
CY2023	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-1416606	usd
CY2022	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1164266	usd
CY2023	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-79458	usd
CY2022	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	381796	usd
CY2023	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	255183	usd
CY2022	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	167337	usd
CY2023	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-1178514	usd
CY2022	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	180237	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-4892553	usd
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5404549	usd
CY2023	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	782949	usd
CY2022	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	2761056	usd
CY2023	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	31648	usd
CY2022	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	40512	usd
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-814597	usd
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2801568	usd
CY2022	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	406623	usd
CY2023	krmd	Borrowings From Indebtedness BorrowingsFromIndebtedness	565172	usd
CY2022	krmd	Borrowings From Indebtedness BorrowingsFromIndebtedness	783799	usd
CY2023	krmd	Payments On Indebtedness PaymentsOnIndebtedness	684123	usd
CY2022	krmd	Payments On Indebtedness PaymentsOnIndebtedness	859087	usd
CY2023	krmd	Finance Lease Rou Asset FinanceLeaseROUAsset	33461	usd
CY2023	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	66455	usd
CY2022	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	51850	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-218867	usd
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	279485	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-5926017	usd
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-7926632	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	17408257	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	25334889	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	11482240	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	17408257	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	50832	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	28490	usd
CY2023	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	3160	usd
CY2023	krmd	Issuance Of Common Stock Compensation IssuanceOfCommonStockCompensation	446349	usd
CY2022	krmd	Issuance Of Common Stock Compensation IssuanceOfCommonStockCompensation	513082	usd
CY2023	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_843_eus-gaap--NatureOfOperations_zRRRz9m674vk" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_86F_zrYF4NWrhPF6">NATURE OF OPERATIONS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">KORU MEDICAL SYSTEMS, INC. (the “Company,” “KORU Medical,” “KORU,” “we,” “us” or “our”) develops, manufactures and commercializes innovative and patient-centric large volume subcutaneous infusion solutions primarily for the subcutaneous drug delivery market as governed by the United States Food and Drug Administration (the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates as <span id="xdx_90A_eus-gaap--NumberOfReportableSegments_dxH_uN_c20230101__20231231_zZ9xrjClTPk7" title="Number of segments::XDX::1">one</span> segment.</p>
CY2023Q4	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	usd
CY2023	us-gaap	Interest Income Securities Us Treasury InterestIncomeSecuritiesUSTreasury	10200000	usd
CY2023	krmd	Amortization Of Intangible Assets1 AmortizationOfIntangibleAssets1	64469	usd
CY2022	krmd	Amortization Of Intangible Assets1 AmortizationOfIntangibleAssets1	62143	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	65869	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	65729	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	64674	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	64242	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	64242	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	429605	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	754361	usd
CY2023Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	6000000.0	usd
CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21	pure
CY2023	krmd	Depreciation And Amortization Property And Equipment DepreciationAndAmortizationPropertyAndEquipment	805921	usd
CY2022	krmd	Depreciation And Amortization Property And Equipment DepreciationAndAmortizationPropertyAndEquipment	524994	usd
CY2023	krmd	Anti Dilutive Stock Options AntiDilutiveStockOptions	12335	shares
CY2023	krmd	Anti Dilutive Restricted Stock AntiDilutiveRestrictedStock	904496	shares
CY2022	krmd	Anti Dilutive Restricted Stock AntiDilutiveRestrictedStock	950000	shares
CY2023	krmd	Stock Options StockOptions	12335	shares
CY2023	krmd	Restricted Stock Units RestrictedStockUnits	904496	shares
CY2022	krmd	Restricted Stock Units RestrictedStockUnits	950000	shares
CY2023	krmd	Anti Diluted Securities AntiDilutedSecurities	916831	shares
CY2022	krmd	Anti Diluted Securities AntiDilutedSecurities	950000	shares
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-13741062	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-8661142	usd
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.30
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.19
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.30
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.19
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_844_eus-gaap--UseOfEstimates_zNFNFYuQAZI8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_86F_zjJSsksRpBe5">USE OF ESTIMATES IN THE FINANCIAL STATEMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Important estimates include but are not limited to asset lives, valuation allowances, inventory valuation, and accruals.</p>
CY2023	krmd	Schedule Of Net Revenues By Geography ScheduleOfNetRevenuesByGeography	<p id="xdx_898_ecustom--ScheduleOfNetRevenuesByGeography_zgOk39Kpl3P9" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8B4_zzLqgxExCEz2">The following table summarizes net revenues by geography for the years ended December 31, 2023 and 2022:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 3.5in; border-collapse: collapse"> <tr style="background-color: white"> <td style="vertical-align: bottom; width: 39%"> </td> <td style="vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 21%"> </td> <td style="vertical-align: bottom; width: 7%"> </td> <td style="vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 21%"> </td> <td style="vertical-align: top; width: 3%"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="5" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><b>Years Ended December 31,</b></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><b>2023</b></td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><b>2022</b></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><b>Net Revenues</b></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: #E6E6E6"> <td style="vertical-align: bottom; padding-left: 9.45pt">Domestic</td> <td style="vertical-align: bottom"> </td> <td>$</td> <td id="xdx_985_eus-gaap--Revenues_c20230101__20231231__srt--StatementGeographicalAxis__country--US_zlJvfdkf0eva" style="text-align: right" title="Net Revenue">23,676,039</td> <td style="vertical-align: top"> </td> <td>$</td> <td id="xdx_989_eus-gaap--Revenues_c20220101__20221231__srt--StatementGeographicalAxis__country--US_zxd3On1nZsl7" style="text-align: right" title="Net Revenue">23,586,254</td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; padding-left: 9.45pt">International</td> <td style="vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_982_eus-gaap--Revenues_c20230101__20231231__srt--StatementGeographicalAxis__us-gaap--NonUsMember_z9WJMe07cdac" style="border-bottom: black 1pt solid; text-align: right" title="Net Revenues">4,841,627</td> <td style="vertical-align: top"> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_988_eus-gaap--Revenues_c20220101__20221231__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zWLgskHZsh1h" style="border-bottom: black 1pt solid; text-align: right" title="Net Revenues">4,309,783</td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: #E6E6E6"> <td style="vertical-align: bottom"><b>Total</b></td> <td style="vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td id="xdx_984_eus-gaap--Revenues_c20230101__20231231_zjh9E8vQnmA2" style="border-bottom: black 2.25pt double; text-align: right" title="Revenues">28,517,666</td> <td style="border-bottom: white 2.25pt double; vertical-align: top"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td id="xdx_984_eus-gaap--Revenues_c20220101__20221231_zuQ3cmZ8ak6a" style="border-bottom: black 2.25pt double; text-align: right" title="Revenues">27,896,037</td> <td style="vertical-align: top"> </td></tr> </table>
CY2023	us-gaap	Revenues Revenues	28517666	usd
CY2022	us-gaap	Revenues Revenues	27896037	usd
CY2023	krmd	Impairment Or Disposal Of Long Lived Assets Policy Text Bloc ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBloc	<p id="xdx_842_ecustom--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBloc_zNaHnezOrga1" style="font: 10pt Times New Roman, Times, Serif; margin: 0">IMPAIRMENT OF LONG-LIVED ASSETS</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. No impairment losses have been recorded through December 31, 2023.</p>
CY2023Q4	us-gaap	Inventory Work In Process And Raw Materials InventoryWorkInProcessAndRawMaterials	1869356	usd
CY2022Q4	us-gaap	Inventory Work In Process And Raw Materials InventoryWorkInProcessAndRawMaterials	3853034	usd
CY2023Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	1862525	usd
CY2022Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	2611951	usd
CY2023Q4	us-gaap	Inventory Gross InventoryGross	3731881	usd
CY2022Q4	us-gaap	Inventory Gross InventoryGross	6464985	usd
CY2023Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	250580	usd
CY2022Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	60118	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	3481301	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	6404867	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	6558930	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	6681378	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2721273	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2794403	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3837657	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3886975	usd
CY2023	us-gaap	Operating Lease Cost OperatingLeaseCost	448630	usd
CY2022	us-gaap	Operating Lease Cost OperatingLeaseCost	514294	usd
CY2023	us-gaap	Short Term Lease Cost ShortTermLeaseCost	130483	usd
CY2022	us-gaap	Short Term Lease Cost ShortTermLeaseCost	131490	usd
CY2023	us-gaap	Lease Cost LeaseCost	579113	usd
CY2022	us-gaap	Lease Cost LeaseCost	645784	usd
CY2023	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	110566	usd
CY2022	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	50895	usd
CY2023	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	25343	usd
CY2022	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	5393	usd
CY2023	krmd	Finance Lease Cost FinanceLeaseCost	135909	usd
CY2022	krmd	Finance Lease Cost FinanceLeaseCost	56288	usd
CY2023	us-gaap	Operating Lease Payments OperatingLeasePayments	464104	usd
CY2022	us-gaap	Operating Lease Payments OperatingLeasePayments	247504	usd
CY2023	us-gaap	Finance Lease Interest Payment On Liability FinanceLeaseInterestPaymentOnLiability	125259	usd
CY2022	us-gaap	Finance Lease Interest Payment On Liability FinanceLeaseInterestPaymentOnLiability	57243	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	3514055	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	3786545	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	368313	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	345834	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	3336300	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	3653257	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	3704613	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	3999091	usd
CY2023Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	577929	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	544468	usd
CY2023Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	161461	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	50895	usd
CY2023Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	416468	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	493573	usd
CY2023Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	109540	usd
CY2022Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	98335	usd
CY2023Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	316623	usd
CY2022Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	394283	usd
CY2023Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	426163	usd
CY2022Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	492618	usd
CY2023Q4	us-gaap	Lessee Operating Lease Discount Rate LesseeOperatingLeaseDiscountRate	0.0576	pure
CY2022Q4	us-gaap	Lessee Operating Lease Discount Rate LesseeOperatingLeaseDiscountRate	0.0400	pure
CY2023Q4	us-gaap	Lessee Finance Lease Discount Rate LesseeFinanceLeaseDiscountRate	0.0619	pure
CY2022Q4	us-gaap	Lessee Finance Lease Discount Rate LesseeFinanceLeaseDiscountRate	0.0425	pure
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	512055	usd
CY2023Q4	us-gaap	Finance Lease Liability Payments Due Next Twelve Months FinanceLeaseLiabilityPaymentsDueNextTwelveMonths	131437	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	512055	usd
CY2023Q4	us-gaap	Finance Lease Liability Payments Due Year Two FinanceLeaseLiabilityPaymentsDueYearTwo	131437	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	512055	usd
CY2023Q4	us-gaap	Finance Lease Liability Payments Due Year Three FinanceLeaseLiabilityPaymentsDueYearThree	131437	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	512055	usd
CY2023Q4	us-gaap	Finance Lease Liability Payments Due Year Four FinanceLeaseLiabilityPaymentsDueYearFour	74194	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	512055	usd
CY2023Q4	us-gaap	Finance Lease Liability Payments Due Year Five FinanceLeaseLiabilityPaymentsDueYearFive	6181	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	1832557	usd
CY2023Q4	krmd	Lessee Operating Lease Liability Payments Due Total LesseeOperatingLeaseLiabilityPaymentsDueTotal	4392832	usd
CY2023Q4	krmd	Lessee Financing Lease Lease Liability Payments Due Total LesseeFinancingLeaseLeaseLiabilityPaymentsDueTotal	474686	usd
CY2023Q4	krmd	Lessee Operating Lease Imputed Interest LesseeOperatingLeaseImputedInterest	688220	usd
CY2023Q4	krmd	Lessee Financing Lease Imputed Interest LesseeFinancingLeaseImputedInterest	48523	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	3704613	usd
CY2023Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	426163	usd
CY2022Q4	krmd	Nol Nol	2956685	usd
CY2023Q4	krmd	Allowance For Doubtful Other Receivables1 Current AllowanceForDoubtfulOtherReceivables1Current	2160180	usd
CY2022Q4	krmd	Allowance For Doubtful Other Receivables1 Current AllowanceForDoubtfulOtherReceivables1Current	935018	usd
CY2023	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	0	usd
CY2022	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	0	usd
CY2023	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	2035297	usd
CY2022	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	2014018	usd
CY2023	krmd	Writeoff Of Deferred Tax Asset WriteoffOfDeferredTaxAsset	-6002777	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3967480	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-2014018	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-9773582	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-10675160	usd
CY2023	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	2052452	usd
CY2022	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	2241784	usd
CY2023	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-17155	usd
CY2022	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-227766	usd
CY2023	krmd	Writeoff Of Deferred Tax Asset WriteoffOfDeferredTaxAsset	-6002777	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3967480	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-2014018	usd
CY2023Q4	us-gaap	Deferred Compensation Plan Assets DeferredCompensationPlanAssets	1047608	usd
CY2022Q4	us-gaap	Deferred Compensation Plan Assets DeferredCompensationPlanAssets	557931	usd
CY2023Q4	krmd	Depreciation Depletion And Amortization1 DepreciationDepletionAndAmortization1	-913671	usd
CY2022Q4	krmd	Depreciation Depletion And Amortization1 DepreciationDepletionAndAmortization1	-624184	usd
CY2023Q4	krmd	Rd Credit RdCredit	142030	usd
CY2022Q4	krmd	Rd Credit RdCredit	142030	usd
CY2023Q4	krmd	Nol Nol	3566630	usd
CY2023Q4	krmd	Allowance For Non Realization Of Deferred Tax Asset AllowanceForNonRealizationOfDeferredTaxAsset	-6002777	usd
CY2022Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	3967480	usd
CY2023Q4	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	2600000	usd
CY2022Q4	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	2200000	usd
CY2023	krmd	Description Of Matching Contribution DescriptionOfMatchingContribution	The Company makes safe harbor matching contributions in an amount equal to 100% of the employee’s contribution, not to exceed 3% of employee’s compensation plus 50% of employee’s pay contributed between 3% and 5% of employee’s compensation.
CY2023	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	227447	usd
CY2022	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	214931	usd
CY2023Q3	us-gaap	Debt Instrument Frequency Of Periodic Payment DebtInstrumentFrequencyOfPeriodicPayment	Monthly payments are due on the first of each month beginning August 1, 2023 through June 1, 2024.

Files In Submission

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0001161697-24-000139-index.html	Edgar Link	pending
0001161697-24-000139.txt	Edgar Link	pending
0001161697-24-000139-xbrl.zip	Edgar Link	pending
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ex_31-1.htm	Edgar Link	pending
ex_31-2.htm	Edgar Link	pending
ex_32-1.htm	Edgar Link	pending
ex_32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form_10-k.htm	Edgar Link	pending
krmd-20231231.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
mmq_logo-footer.jpg	Edgar Link	pending
mmq_logo-header.jpg	Edgar Link	pending
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R42.htm	Edgar Link	pending
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R46.htm	Edgar Link	pending
krmd-20231231_cal.xml	Edgar Link	unprocessable
krmd-20231231_def.xml	Edgar Link	unprocessable
krmd-20231231_lab.xml	Edgar Link	unprocessable
krmd-20231231_pre.xml	Edgar Link	unprocessable
form_10-k_htm.xml	Edgar Link	completed
R47.htm	Edgar Link	pending
R48.htm	Edgar Link	pending
R49.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable

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$KRMD
KORU Medical Systems, Inc. Stock $krmd

2024 Q1 Form 10-K Financial Statement

#000116169724000139 Filed on March 13, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KRMD KORU Medical Systems, Inc. Stock $krmd

2024 Q1 Form 10-K Financial Statement

#000116169724000139 Filed on March 13, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KRMD
KORU Medical Systems, Inc. Stock $krmd