Short answer
CorMedix Inc. (CRMD) filed its Q3 2025 10-Q quarterly report on Nov 12, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $104M (up 810.2% year over year) with net income of $109M.
Q3 2025 key financials · XBRL
- Revenue
- $104M
- +810.2% YoY · +162.4% QoQ
- Net income
- $109M
- +4009.6% YoY · +447.5% QoQ
- Operating margin
- 49.2%
- Gross margin
- 89.3%
- EPS (diluted)
- $1.39
- +3575.0% YoY · +396.4% QoQ
Source: XBRL data from the CorMedix Inc. (CRMD) Q3 2025 10-Q on SEC EDGAR. USD.
CorMedix Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Total revenue $104.3M, up 810% YoY from $11.5M
- DefenCath revenue $88.8M vs $11.5M; Melinta Portfolio $12.8M post-acquisition
- Gross margin 89.3% vs 94.0% YoY; operating margin 49.2% vs negative 28.7%
- Net income $108.6M vs net loss $2.8M, including $56.0M tax benefit
- Melinta acquisition closed August 29, 2025; $260.0M cash consideration and $40.0M stock consideration
Risk Factors
- New risk triggered by Melinta merger: integration may delay synergies, with expanded operations increasing management complexity and costs
- New trade risk triggered by July 28, 2025 EU agreement: potential 15% pharmaceutical tariff could raise production costs
- Regulatory risk: contract-manufacturer cGMP failures could trigger recalls, production suspension, or FDA enforcement
- Financial risk: BARDA funding includes $39.0 million committed and up to $105.7 million additional funding subject to appropriations
- Legal risk: adverse Minocin patent litigation outcome could permit generic entry, causing market-share and price erosion
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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