KORU Medical Systems (KRMD) Tops Q1 EPS by 1c, Revenues Beat

May 12, 2021 4:30 PM EDT

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KORU Medical Systems (NASDAQ: KRMD) reported Q1 EPS of $0.00, $0.01 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $5.4 million versus the consensus estimate of $5.1 million.

First Quarter 2021 Summary:

  • Announced Linda Tharby, med-tech veteran, as President and CEO, effective April 12, 2021
  • Recorded solid net revenue of $5.4 million; robust sequential quarterly growth
  • Gross margin of 59.5%
  • Recorded a net loss of $1.3 million, including leadership change expenses totaling $1.3 million

"I am very excited and grateful for the opportunity to lead KORU Medical in its mission to improve the quality of life of home infusion patients around the globe," said Linda Tharby, KORU Medical's new CEO. "KORU Medical has built a leading market position in a growing home infusion space with its Freedom Integrated Infusion System. I look forward to working with our team in accelerating our growth potential, delivering innovation to our customers, and creating value for shareholders."

"In the first quarter of 2021, we faced difficult year-over-year quarterly revenue comparisons, which included several one-time purchases and a current year COVID-19 impact on new patient starts. I am encouraged by our strong sequential quarterly growth and increasing new pump placements, indicating newly diagnosed SCIg patients returning to pre-COVID levels."

For earnings history and earnings-related data on KORU Medical Systems (KRMD) click here.

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