REPRO-MED Systems (KRMD) AI Stock Analysis

• Market Cap: $198.47M
• Dividend Yield: N/A
• Average Volume (3M): 198.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.16
• Revenue Growth: 22.12%
• EPS Growth: 69.19%
• Country: US
• Employees: 80
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): -0.01
• Shares Outstanding: 46,370,434
• 10 Day Avg. Volume: 166,933
• 30 Day Avg. Volume: 198,682
• PEG Ratio: 1.81
• Price to Book (P/B): 15.74
• Price to Sales (P/S): 6.52
• P/FCF Ratio: -570.81
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 4.70
• Enterprise Value/Gross Profit: 7.55
• Enterprise Value/Ebitda: -89.43
• 1Y Price Target: $6.75
• Price Target Upside: 57.71% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): -0.02
• Revenue Forecast (FY): $48.48M

• Rating: 47 Neutral
• Price Target: $4.00 ▼(-6.54% Downside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held back primarily by still-negative profitability and free cash flow (despite improving revenue growth and strong gross margins) and weak technicals (below major moving averages with negative MACD). The latest earnings call is a positive offset due to raised revenue guidance and strong international/core growth, while valuation support is limited given the negative P/E and no dividend.

Positive Factors

High Gross Margins

Sustained ~62–63% gross margins indicate durable product economics driven by device sales plus recurring consumables. Strong gross margins provide structural operating leverage as revenue scales, helping absorb SG&A and R&D while the firm pursues profitability and international rollouts.

Reaccelerating Revenue & Intl Growth

Robust core SCIG growth and a 230% jump in international revenue reflect tangible diversification and market penetration. These durable drivers—recurring patient base, European conversions to prefilled syringes, and raised guidance—improve revenue visibility and scale potential for consumable attach rates.

Conservative Capital Structure

Low leverage (debt/equity ≈0.21) provides financial flexibility while the company works toward profitability. A conservative balance sheet lowers refinancing risk, supports continued investment in product development and international expansion, and gives runway to absorb near-term operating losses.

Negative Factors

Ongoing Losses & Negative FCF

Despite improving revenue and positive operating cash flow, continued negative EBITDA and free cash flow mean the business is not yet self-sustaining. This structural weakness can necessitate external financing, dilute returns, and constrain investment cadence until sustained positive FCF is achieved.

Distributor Concentration Risk

Reliance on distributor channels creates durable revenue volatility: a single distributor's inventory adjustment caused meaningful domestic decline. Persistent customer concentration can amplify revenue swings, weaken pricing leverage, and slow adoption in key domestic markets over multiple quarters.

Pipeline Delays & Margin Pressure

Manufacturing cost and mix-driven margin compression (‑320 bps) plus delayed collaboration launches to 2027 are structural headwinds. Delays postpone revenue and profit contributions from new indications, extending the timeline to breakeven and reducing near-term free cash flow improvement prospects.

REPRO-MED Systems Business Overview & Revenue Model

Company Description

KORU Medical Systems, Inc. designs, manufactures, and markets portable medical devices primarily for the ambulatory infusion market in the United States and internationally. It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing. The company also provides education and training materials to clinicians, patients, and patient advocates. It sells its products through direct sales and medical device distributors, as well as online. KORU Medical Systems, Inc. was incorporated in 1980 and is headquartered in Chester, New York.

How the Company Makes Money

REPRO-MED Systems makes money primarily by selling ambulatory infusion pumps and recurring-use consumables and accessories that are used with those pumps. Revenue is generally generated through (1) upfront sales of durable pump devices to providers and distributors and (2) repeat sales of single-use or routinely replaced items (e.g., administration sets/consumables and related accessories) that are required for ongoing therapy and thus can create recurring demand as utilization grows. The company also earns revenue through distribution channels and commercial relationships with medical supply distributors and provider networks that purchase and supply infusion products to end users; specific partnership terms and revenue contribution details are null.

REPRO-MED Systems Financial Statement Overview

Summary

Improving fundamentals but not yet consistently profitable: revenue growth re-accelerated and gross margins remain strong (~62–63%), losses narrowed materially, and operating cash flow turned positive in 2025. However, EBITDA/net income are still negative and free cash flow remains negative, keeping the financial profile below average despite balance-sheet flexibility.

Income Statement

Revenue growth has re-accelerated in the latest year (2025 up ~5% vs. ~0% in 2024), and gross margins are strong and consistent (~62–63% in 2024–2025), suggesting a solid underlying product economics. However, profitability remains the key issue: the company is still loss-making with negative EBITDA and net income in 2025, even if the net loss margin improved materially (about -6% in 2025 vs. -18% in 2024 and far worse in 2022–2023). Overall, the trajectory is improving, but earnings are not yet sustainably positive.

Balance Sheet

Leverage appears manageable with low debt relative to equity (debt-to-equity ~0.21 in 2025), providing financial flexibility compared with more highly levered peers. That said, ongoing losses are pressuring returns, with return on equity still meaningfully negative in 2025, indicating the balance sheet strength is being diluted by lack of profitability. In short: decent capital structure and solvency profile, but it ultimately depends on continued improvement in operating results.

Cash Flow

Cash generation is improving: operating cash flow turned positive in 2025 after being negative in 2024 and sharply negative in 2022–2023, which is a meaningful step in the right direction. Still, free cash flow remained negative in 2025, implying the business has not yet reached self-funding status. Additionally, cash flow conversion is not yet robust given the company is still reporting net losses and only modest operating cash inflow.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	41.13M	33.65M	28.52M	27.90M	23.49M
Gross Profit	25.60M	21.33M	16.71M	15.37M	13.77M
EBITDA	-2.16M	-5.67M	-9.40M	-10.19M	-6.57M
Net Income	-2.64M	-6.07M	-13.74M	-8.66M	-4.56M
Balance Sheet
Total Assets	28.20M	27.22M	28.46M	42.33M	41.29M
Cash, Cash Equivalents and Short-Term Investments	8.87M	9.58M	11.48M	17.41M	25.33M
Total Debt	3.50M	3.99M	4.45M	4.93M	604.14K
Total Liabilities	11.15M	10.40M	8.11M	11.01M	4.79M
Stockholders Equity	17.05M	16.81M	20.35M	31.33M	36.50M
Cash Flow
Free Cash Flow	-470.11K	-1.62M	-5.71M	-8.21M	-4.69M
Operating Cash Flow	462.40K	-319.72K	-4.89M	-5.40M	-4.32M
Investing Cash Flow	-949.79K	-1.33M	-814.60K	-2.80M	-366.17K
Financing Cash Flow	-221.35K	-248.53K	-218.87K	279.49K	2.71M

REPRO-MED Systems Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 4.28 is below the 20-day moving average (MA) of 4.68, below the 50-day MA of 5.13, and below the 200-day MA of 4.37, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 31.78 is Neutral, neither overbought nor oversold. The STOCH value of 10.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KRMD.

REPRO-MED Systems Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFU	76 Outperform	$188.20M	27.96	11.91%	―	6.23%	283.88%
UTMD	71 Outperform	$202.73M	16.41	9.56%	2.15%	-12.35%	-17.20%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OSUR	51 Neutral	$205.30M	-2.59	-18.58%	―	-43.95%	-620.21%
KRMD	47 Neutral	$198.47M	-101.73	-21.71%	―	22.12%	69.19%