CorMedix Inc. (CRMD) Income Statement
CRMD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCRMD revenue and net income
Where CRMD's revenue goes
2025Each bar shows an amount and its share of revenue. CRMD kept 52.3% of revenue as net income.
CRMD profit margins
CRMD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +617.0% | +1,582.8% | +319.7% | +107.6% |
| Gross profit | +584.6% | +1,547.4% | +503.7% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CRMD quarterly EPS vs estimates
CorMedix beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.05).
CRMD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $311.7M | $43.5M | $0 | $65,408 | $190,936 | $239,231 | $283,266 | $429,797 | $329,327 | $224,105 |
| Cost of revenue | $36.0M | $3.2M | $205,562 | $3,734 | $148,938 | $204,846 | $373,234 | $396,786 | $114,964 | $366,673 |
| Gross profit | $275.7M | $40.3M | −$205,562 | $61,674 | $41,998 | $34,385 | −$89,968 | $33,011 | $214,363 | −$142,568 |
| Research & development | $19.3M | $3.9M | $13.2M | $10.7M | $13.1M | $13.4M | $11.1M | $18.8M | $24.5M | $15.7M |
| Sales, general & admin | $106.3M | $58.7M | $35.8M | $20.0M | $16.3M | $13.9M | $9.9M | $8.1M | $8.7M | $8.9M |
| Total operating expenses | $125.6M | $62.6M | $48.8M | $30.7M | $29.5M | $27.3M | $20.9M | $26.9M | $33.1M | $24.6M |
| Operating income | $150.1M | −$22.4M | −$49.0M | −$30.6M | −$29.4M | −$27.2M | −$21.0M | −$26.9M | −$32.9M | −$24.8M |
| Interest income | $3.8M | $2.6M | $2.7M | $326,016 | $14,403 | $116,065 | $322,668 | $36,618 | $110,714 | $126,774 |
| Interest expense | $2.8M | $36,405 | $34,296 | $26,515 | $15,943 | $33,226 | $787,488 | $1,873 | $5,619 | $1,311 |
| Income before taxes | $150.0M | −$19.3M | −$46.3M | −$30.3M | −$29.5M | −$27.2M | −$11.4M | −$26.8M | −$33.0M | −$24.6M |
| Income taxes | −$13.0M | −$1.4M | −$2 | −$585,617 | −$1.3M | −$5.2M | $5.1M | $36,439 | −$31,267 | $1,311 |
| Net income | $163.1M | −$17.9M | −$46.3M | −$29.7M | −$28.2M | −$22.0M | −$16.4M | −$26.8M | −$33.0M | −$24.6M |
| EBITDA | $167.3M | −$19.0M | −$46.2M | −$30.2M | −$29.4M | −$27.0M | −$20.9M | −$26.8M | −$33.0M | −$24.6M |
| EPS (diluted) | $2.15 | −$0.33 | −$0.92 | −$0.74 | −$0.74 | −$0.76 | −$0.89 | −$1.65 | −$3.05 | −$3.20 |
| Gross margin | 88.5% | 92.7% | — | 94.3% | 22.0% | 14.4% | −31.8% | 7.7% | 65.1% | −63.6% |
| Operating margin | 48.2% | −51.4% | — | −46,819.9% | −15,417.5% | −11,378.4% | −7,416.3% | −6,250.4% | −9,997.4% | −11,048.8% |
| Net margin | 52.3% | −41.2% | — | −45,409.9% | −14,774.7% | −9,207.7% | −5,801.3% | −6,242.4% | −10,023.4% | −10,996.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101.9M | $127.4M | $128.6M | $104.3M | $39.7M | $39.1M | $31.2M | $11.5M | $806,119 | $0 | $304,110 | $0 |
| Cost of revenue | $24.8M | $22.3M | $21.3M | $11.2M | $1.9M | $1.6M | $1.2M | $686,598 | $509,839 | $818,539 | $53,507 | $51,862 |
| Gross profit | $77.1M | $105.1M | $107.3M | $93.1M | $37.9M | $37.5M | $30.0M | $10.8M | $296,280 | −$818,539 | −$53,507 | −$51,862 |
| Research & development | $6.7M | $7.2M | $8.6M | $5.1M | $2.4M | $3.2M | $1.7M | $727,119 | $650,988 | $837,445 | $2.3M | $2.7M |
| Sales, general & admin | $27.5M | $34.3M | $39.6M | $36.6M | $15.9M | $14.2M | $15.4M | $13.3M | $14.9M | $15.0M | $13.4M | $7.8M |
| Total operating expenses | $34.2M | $41.5M | $48.2M | $41.7M | $18.3M | $17.4M | $17.1M | $14.1M | $15.6M | $15.9M | $15.6M | $10.4M |
| Operating income | $42.9M | $63.7M | $59.1M | $51.3M | $19.5M | $20.1M | $12.9M | −$3.3M | −$15.3M | −$16.7M | −$15.7M | −$10.5M |
| Interest income | — | — | $889,981 | $1.6M | $828,949 | $566,797 | $510,385 | $553,856 | $657,366 | $857,186 | $920,043 | $765,241 |
| Interest expense | — | — | $1.8M | $948,242 | $6,671 | $10,007 | $10,007 | $10,007 | $6,556 | $9,835 | $6,556 | $13,113 |
| Income before taxes | $38.7M | $55.6M | $56.4M | $52.6M | $20.3M | $20.6M | $13.5M | −$2.8M | −$14.2M | −$15.9M | −$14.8M | −$9.7M |
| Income taxes | $12.7M | $17.0M | $42.4M | −$56.0M | $521,507 | — | — | −$114,714 | $2 | −$1.4M | $3 | $13,113 |
| Net income | $26.0M | $38.6M | $14.0M | $108.6M | $19.8M | $20.6M | $13.5M | −$2.8M | −$14.2M | −$14.5M | −$14.8M | −$9.7M |
| EBITDA | $57.6M | $66.2M | $68.7M | $57.3M | $20.5M | $20.8M | $13.6M | −$2.7M | −$14.1M | −$15.8M | −$14.7M | −$9.7M |
| EPS (diluted) | $0.29 | $0.35 | $0.16 | $1.41 | $0.28 | $0.30 | $0.22 | −$0.05 | −$0.25 | −$0.25 | −$0.26 | −$0.17 |
| Gross margin | 75.7% | 82.5% | 83.4% | 89.3% | 95.3% | 95.9% | 96.2% | 94.0% | 36.8% | — | −17.6% | — |
| Operating margin | 42.1% | 50.0% | 46.0% | 49.2% | 49.2% | 51.5% | 41.4% | −28.7% | −1,898.1% | — | −5,152.3% | — |
| Net margin | 25.5% | 30.3% | 10.9% | 104.1% | 49.9% | 52.8% | 43.1% | −24.2% | −1,755.5% | — | −4,851.5% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CRMD's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CRMD financial results
In fiscal year 2025 (ended December 31, 2025), CorMedix reported revenue of $311.7 million, up 617.0% from the year before. It had net income of $163.1 million, a net profit margin of 52.3%. Diluted earnings per share came to $2.15. Over five years revenue grew at an average rate of 319.7% a year.
See the CRMD stock overview for the latest quote and news, or the CRMD chart for price history and technical indicators.
CRMD income statement FAQ
What is CorMedix's annual revenue?
CorMedix reported total revenue of $311.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 617.0% from $43.5 million the previous year.
Is CorMedix profitable?
Yes. CorMedix reported net income of $163.1 million in fiscal 2025, a net profit margin of 52.3%; its operating margin was 48.2%.
What is CorMedix's gross margin?
CorMedix's gross margin was 88.5% in fiscal 2025: for every $100 of revenue, CorMedix kept $88 after the direct cost of its products and services.
How much does CorMedix spend on research and development?
CorMedix spent $19.3 million on research and development in fiscal 2025, 6.2% of revenue.
How fast is CorMedix growing?
Revenue grew 319.7% a year on average over the last five fiscal years, from $0.2 million to $311.7 million.
What are CorMedix's earnings per share?
CorMedix earned $2.15 per diluted share in fiscal 2025, compared with $-0.33 a year earlier.
When will CorMedix report its next earnings?
CorMedix is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does CorMedix's fiscal year end?
CorMedix's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.