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REPRO-MED Systems (KRMD)
NASDAQ:KRMD
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REPRO-MED Systems
(NASDAQ:KRMD)
51Neutral
Positive Factors
International Growth
International business should grow faster through market share-taking and continued progress.
Revenue Performance
Q4 revenue of $8.8M outperformed consensus prior to the prelim by $0.7M.
Negative Factors
Competitive Pressures
There is wariness of the potential for competitive pressures to expand going forward.
Valuation Concerns
Valuation is sitting near multi-year highs even off these potentially higher revenue numbers, and this loftier valuation is making us slightly more uneasy about other items.
REPRO-MED Systems (KRMD) vs. S&P 500 (SPY)
Market Cap
$105.58M
Dividend YieldN/A
Average Volume (3M)186.30K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth17.98%
EPS Growth56.04%
CountryUS
Employees80
SectorHealthcare
Sector Strength74
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.13
Shares Outstanding46,102,840
10 Day Avg. Volume202,090
30 Day Avg. Volume186,301
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.84
Price to Cash Flow (P/CF)34.40
P/FCF Ratio33.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.17Price Target Upside126.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
REPRO-MED Systems Business Overview & Revenue Model
Company DescriptionREPRO-MED Systems, Inc. (KRMD), also known as KORU Medical Systems, is a medical technology company specializing in the development and manufacturing of innovative infusion solutions. The company is primarily focused on producing portable and user-friendly infusion systems, which are used for the delivery of subcutaneous medications in the home and alternate care settings. KORU Medical Systems is known for its FREEDOM System, which includes the FREEDOM60 and FREEDOMEdge pumps, as well as a range of related accessories designed to enhance patient comfort and convenience.
How the Company Makes MoneyREPRO-MED Systems generates revenue through the sale of its proprietary infusion systems, including the FREEDOM60 and FREEDOMEdge pumps, along with associated accessories such as tubing and needle sets. The company's revenue model is based on direct sales to healthcare providers, distributors, and patients for home infusion therapies. Key revenue streams include repeat sales of consumable products that are essential for the operation of the infusion systems. Additionally, significant partnerships with healthcare providers and distributors contribute to its earnings by expanding its market reach and facilitating product adoption within the home healthcare sector. The company's focus on user-friendly and cost-effective solutions supports its growth and profitability in the competitive medical device industry.
REPRO-MED Systems Financial Statement Overview
Summary
REPRO-MED Systems shows strong revenue growth but struggles with profitability. The balance sheet indicates low leverage but poor return on equity. Cash flow management is improving, but negative operating cash flow highlights ongoing financial strain.Income Statement
REPRO-MED Systems has shown revenue growth from 2023 to 2024, with a Revenue Growth Rate of 18%. However, the Net Profit Margin remains negative due to consistent losses, with a Net Income of -$6.07 million in 2024. Gross Profit Margin is improving but still offset by negative EBIT and EBITDA margins, indicating operational challenges.45
Neutral
Balance Sheet
The balance sheet shows a moderate Debt-to-Equity Ratio as Total Debt is relatively low compared to Stockholders' Equity. With a Debt-to-Equity Ratio of 0.22, the company maintains a stable equity base. However, Return on Equity is negative due to ongoing losses, indicating inefficiency in using shareholders' investments to generate profits.60
Neutral
Cash Flow
Cash flow analysis shows improvement in Free Cash Flow from -$5.71 million in 2023 to -$1.62 million in 2024, reflecting efforts to manage expenditures. Nonetheless, Operating Cash Flow remains negative, highlighting continued cash flow challenges. The company shows a Free Cash Flow to Net Income Ratio of 0.27, signifying some ability to convert earnings into cash flow.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 33.65M | 28.52M | 27.90M | 23.49M | 24.18M | Gross Profit |
| 21.33M | 16.71M | 15.37M | 13.77M | 14.94M | EBIT |
| -5.56M | -10.27M | -10.78M | -7.03M | -1.25M | EBITDA |
| -5.56M | -9.40M | -10.19M | -6.57M | 1.61M | Net Income Common Stockholders |
| -6.07M | -13.74M | -8.66M | -4.56M | -1.21M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 9.58M | 11.48M | 17.41M | 25.33M | 27.32M | Total Assets |
| 27.22M | 28.46M | 42.33M | 41.29M | 39.92M | Total Debt |
| 3.72M | 4.45M | 4.93M | 604.14K | 239.49K | Net Debt |
| -5.86M | -7.04M | -12.48M | -24.73M | -27.08M | Total Liabilities |
| 10.40M | 8.11M | 11.01M | 4.79M | 3.76M | Stockholders Equity |
| 16.81M | 20.35M | 31.33M | 36.50M | 36.16M |
| Cash Flow | Free Cash Flow | |||
| -1.62M | -5.71M | -8.21M | -4.69M | -1.80M | Operating Cash Flow |
| -319.72K | -4.89M | -5.40M | -4.32M | -743.32K | Investing Cash Flow |
| -1.33M | -814.60K | -2.80M | -366.17K | -1.04M | Financing Cash Flow |
| -248.53K | -218.87K | 279.49K | 2.71M | 23.22M |
REPRO-MED Systems Technical Analysis
Negative
2.28
Price Trends
3.37
Negative
3.64
Negative
3.09
Negative
Market Momentum
-0.29
Negative
27.54
Positive
12.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRMD, the sentiment is Negative. The current price of 2.28 is below the 20-day moving average (MA) of 2.59, below the 50-day MA of 3.37, and below the 200-day MA of 3.09, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 27.54 is Positive, neither overbought nor oversold. The STOCH value of 12.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KRMD.
REPRO-MED Systems Risk Analysis
REPRO-MED Systems disclosed 47 risk factors in its most recent earnings report. REPRO-MED Systems reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
REPRO-MED Systems Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $18.59B | 45.73 | 43.03% | ― | 22.07% | 101.95% | |
61 Neutral | $26.21B | 47.24 | 27.63% | ― | 11.34% | 4.24% | |
56 Neutral | $1.17B | ― | -33.30% | ― | 25.74% | 57.18% | |
53 Neutral | $3.72B | ― | -5.76% | ― | 5.28% | -292.14% | |
51 Neutral | $105.58M | ― | -32.64% | ― | 17.98% | 56.04% | |
48 Neutral | $6.36B | 1.28 | -45.04% | 2.64% | 19.24% | 1.69% | |
45 Neutral | $1.95B | ― | -50.74% | ― | -7.03% | -20233.78% |
* Healthcare Sector Average
Performance Comparison
KRMD
REPRO-MED Systems
2.30
0.22
10.58%
DXCM
Dexcom
66.14
-70.00
-51.42%
ICUI
ICU Medical
142.65
44.45
45.26%
PODD
Insulet
253.99
78.77
44.95%
QDEL
QuidelOrtho
26.91
-15.26
-36.19%
TNDM
Tandem Diabetes Care
17.06
-16.44
-49.07%
REPRO-MED Systems Earnings Call Summary
Earnings Call Date: Mar 12, 2025 | % Change Since: -30.49% | Next Earnings Date: Apr 30, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth, international expansion success, and progress in novel therapies, contributing to a positive outlook. However, there are challenges in the novel therapies segment's revenue variability and external pressures like tariffs and supply chain issues, which need monitoring.Highlights
Record Revenue Growth
Fourth quarter revenues grew 23%, and full-year revenues totaled $33.6 million, representing 18% growth with double-digit increases across all business segments.
International Expansion Success
International revenues grew 32% for the full year and 14% in the quarter. New geographic entries in the Middle East, North Africa, and Eastern Europe contributed to this growth.
Novel Therapies Progress
Four new collaborations were added to the pipeline in 2024, with two more announced in the first two months of 2025. The total collaboration count is now 15.
Increased Gross Margins
Full-year gross margins improved by 480 basis points to 63.4%, driven by manufacturing efficiencies and favorable customer sales.
Positive Cash Flow
The year ended with a cash balance of $9.6 million, surpassing expectations, and achieved positive cash flows in the fourth quarter.
2025 Guidance
Net revenues are expected between $38 million and $39 million, with a growth rate of 13% to 16% and a full-year gross margin between 61% and 63%.
Lowlights
Novel Therapies Revenue Variability
The novel therapies segment experienced revenue lumpiness with expectations of $2 million to $3 million in revenue for 2025, highlighting the non-recurring nature of the business.
Tariff and Supply Chain Pressures
Tariff-related pressures and supply chain inflation were noted as potential impacts on the gross margin, expected to be about a half-point impact for the year.
FDA Voluntary Drug Withdrawal
The FDA announced a voluntary withdrawal of certain lots of immunoglobulin, although only one SCIg-related drug was affected and expected to be short-term.
Company Guidance
During the call, KORU Medical Systems provided guidance for 2025, projecting net revenues between $38 million and $39 million, which represents growth of 13% to 16%. The company expects its full-year gross margin to be between 61% and 63%, maintaining stability despite potential one-time costs associated with manufacturing ramp-up for new consumables. KORU also anticipates being operational cash flow positive for the full year 2025. The Chief Financial Officer, Tom Adams, outlined that the growth assumptions include domestic revenue growth of 10% to 15% and international growth of over 20%, with $2 million to $3 million expected from pharma services and clinical trials. Additionally, the company plans to launch new products, including a next-generation SCIg pump and consumables, which they anticipate will drive further growth and support their strategic goal to become a global leader in large-volume subcutaneous drug delivery.REPRO-MED Systems Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
KORU Medical’s CCO Resigns, Interim Leader Appointed
Neutral
Apr 7, 2025
On April 3, 2025, Kenneth Miller resigned as Chief Commercial Officer of KORU Medical Systems to pursue a CEO role elsewhere. Rob Cannon, with extensive experience in healthcare sales, will temporarily lead the company’s commercial operations. Despite the leadership change, KORU Medical maintains its 2025 revenue guidance of $38.0-$39.0 million.
Spark’s Take on KRMD Stock
According to Spark, TipRanks’ AI Analyst, KRMD is a Neutral.
KRMD’s stock score reflects strong revenue growth and a positive outlook from the earnings call. However, significant profitability challenges, technical weakness, and a negative P/E ratio weigh down the overall score.
To see Spark’s full report on KRMD stock, click here.
Regulatory Filings and Compliance
REPRO-MED Systems Releases Investor Presentation Online
Neutral
Jan 13, 2025
REPRO-MED Systems has released an investor presentation accessible through its investor relations website. This presentation will be used in upcoming meetings with investors and analysts, offering summary information aligned with the company’s SEC filings and public announcements. The company does not commit to updating this information but may do so through various public disclosure methods.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.