REPRO-MED Systems (KRMD)
NASDAQ:KRMD
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REPRO-MED Systems
(NASDAQ:KRMD)
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Rating:49Neutral
Price Target:
$4.50
▲(2.97% Upside)
Action:ReiteratedDate:04/04/26
The score is driven primarily by improving fundamentals (strong gross margins and better cash-flow trajectory) but is held back by continued net losses and still-negative free cash flow. Technical signals are bearish with the stock below key moving averages and negative MACD, and valuation support is limited due to a negative P/E. Offsetting this, management’s 2026 guidance points to continued growth and a path to positive adjusted EBITDA/cash flow, and the credit facility amendment adds incremental financial flexibility.
Positive Factors
High gross margins
Sustained ~62% gross margins reflect durable product economics from pumps plus consumables. High margins support operating leverage as revenue scales, enabling reinvestment in R&D and commercial expansion while providing a buffer versus input cost swings over the next 2–6 months.
Negative Factors
Still loss-making & negative FCF
Despite operating improvements, persistent net losses and negative free cash flow limit the company’s ability to self-fund growth and increase reliance on credit or equity. Over 2–6 months, this constrains strategic flexibility and raises dilution or refinancing risk if trends reverse.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained ~62% gross margins reflect durable product economics from pumps plus consumables. High margins support operating leverage as revenue scales, enabling reinvestment in R&D and commercial expansion while providing a buffer versus input cost swings over the next 2–6 months.
Read all positive factors
REPRO-MED Systems (KRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$202.64M
Dividend YieldN/A
Average Volume (3M)198.68K
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth22.12%
EPS Growth69.19%
CountryUS
Employees80
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.01
Shares Outstanding46,370,434
10 Day Avg. Volume166,933
30 Day Avg. Volume198,682
Financial Highlights & Ratios
PEG Ratio1.81
Price to Book (P/B)15.74
Price to Sales (P/S)6.52
P/FCF Ratio-570.81
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue4.62
Enterprise Value/Gross Profit7.66
Enterprise Value/Ebitda-91.61
Forecast
1Y Price Target
$6.75Price Target Upside54.46% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.03
Revenue Forecast (FY)$48.48M
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 sys...
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 provider...
REPRO-MED Systems Earnings Call Summary
Earnings Call Date:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presented a strong operational and financial performance: double-digit revenue growth (Q4 +23%, FY +22%), significant international expansion (International Core +71% Q4, +80% FY), regulatory wins (EU MDR for FREEDOM60, 510(k) for RYSTIGGO), expanded pipeline and positive adjusted EBITDA and cash flow for the year. Headwinds include milestone-driven PST revenue variability (-30% Q4), modest gross margin pressure from materials and tariffs, a relatively small cash balance ($8.9M) and execution/timing risks around prefill rollouts, 510(k) approvals and geopolitical factors. Overall, the positives — consistent high revenue growth, international share gains, regulatory clearances, pipeline expansion and movement to profitability — outweigh the manageable risks and timing uncertainties.Positive Updates
Strong Revenue Growth
Q4 revenue of $10.9M (23% year-over-year) and full year revenue of $41.1M, up 22% versus 2024; Q4 marked the third consecutive quarter with >20% revenue growth.
Negative Updates
PST / Project Revenue Variability
PST (project/milestone-based) revenue decreased 30% year-over-year in Q4 and declined modestly for the full year, reflecting timing of contract milestones and resulting in volatile quarter-to-quarter recognition.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Q4 revenue of $10.9M (23% year-over-year) and full year revenue of $41.1M, up 22% versus 2024; Q4 marked the third consecutive quarter with >20% revenue growth.
Read all positive updates
Company Guidance
KORU guided 2026 revenue of $47.5–$50.0 million (growth of ~15%–22% vs. 2025’s $41.1M), full‑year gross margins of 61%–63%, and both positive adjusted EBITDA and positive cash flow for the year (with cash flow expected to turn positive in H2); the outlook assumes continued U.S. and international SCIg share gains, NRE revenue from at least four collaborations (two already signed), modest incremental revenue from recent/pending 510(k) filings, and a modest geopolitical risk adjustment. Management noted 2025 comparators to frame the guide — Q4 revenue $10.9M (+23% YoY), FY revenue $41.1M (+22%), three consecutive quarters >20% revenue growth, FY gross margin 62.3%, positive adjusted EBITDA of $0.6M (a 124% improvement), year‑end cash of $8.9M and full‑year cash usage of ~$0.7M — and expects revenue to ramp in the back half of 2026 as prefilled‑syringe conversions and 510(k) clearances come online while absorbing start‑up costs for a next‑generation pump; long‑term targets remain ~$100M revenue, >65% gross margin and an EBITDA margin ≥20%.REPRO-MED Systems Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
63
Positive
Cash Flow
45
Neutral
| 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
Neutral
4.37
Price Trends
4.64
Negative
5.10
Negative
4.49
Negative
Market Momentum
-0.11
Negative
47.51
Neutral
46.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRMD, the sentiment is Neutral. The current price of 4.37 is above the 20-day moving average (MA) of 4.30, below the 50-day MA of 4.64, and below the 200-day MA of 4.49, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 47.51 is Neutral, neither overbought nor oversold. The STOCH value of 46.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KRMD.
REPRO-MED Systems Risk Analysis
REPRO-MED Systems disclosed 51 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $194.47M | 27.96 | 11.91% | ― | 6.23% | 283.88% | |
56 Neutral | $206.58M | 16.41 | 9.56% | 2.15% | -12.35% | -17.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $202.64M | -137.80 | -21.71% | ― | 22.12% | 69.19% | |
49 Neutral | $211.53M | -2.25 | -18.58% | ― | -43.95% | -620.21% |
* Healthcare Sector Average
KRMD
REPRO-MED Systems
4.37
2.07
90.00%
INFU
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93.17%
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MBOT
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0.25
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STSS
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1.67
-5.83
-77.73%
REPRO-MED Systems Corporate Events
Business Operations and StrategyPrivate Placements and Financing
REPRO-MED Systems Amends Credit Facility to Enhance Flexibility
Positive
Apr 3, 2026
On March 30, 2026, KORU Medical Systems, Inc. amended its existing $10 million credit facility with HSBC Ventures USA Inc., consisting of a $5 million revolver and a $5 million term loan. The company has not drawn on these facilities and remains u...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.