REPRO-MED Systems (KRMD)
NASDAQ:KRMD
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REPRO-MED Systems
(NASDAQ:KRMD)
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Rating:52Neutral
Price Target:
$4.00
▼(-7.62% Downside)
Action:Reiterated
Date:05/22/26
The score is held back primarily by ongoing losses and uneven cash-flow quality, plus weak technical momentum (below major moving averages with negative MACD). Offsetting these, the balance sheet is conservatively levered and the latest earnings call was encouraging with reiterated double-digit growth guidance and expectations for positive adjusted EBITDA and cash flow.
Positive Factors
Recurring revenue from consumables
A large installed base (~60k patients) and a business model that sells durable pumps plus single‑use consumables creates durable, repeatable revenue. This recurring demand supports predictable unit economics and higher lifetime customer value, aiding sustainable growth and margin recovery.
Negative Factors
Persistent negative profitability
Although losses are narrowing, sustained negative operating and net margins mean the company still relies on execution to reach durable profitability. Continued losses can erode equity, limit reinvestment capacity, and necessitate external financing if positive cash flow isn’t maintained.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue from consumables
A large installed base (~60k patients) and a business model that sells durable pumps plus single‑use consumables creates durable, repeatable revenue. This recurring demand supports predictable unit economics and higher lifetime customer value, aiding sustainable growth and margin recovery.
Read all positive factors
REPRO-MED Systems (KRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$188.33M
Dividend YieldN/A
Average Volume (3M)198.68K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth23.30%
EPS Growth57.37%
CountryUS
Employees80
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.05
Shares Outstanding45,933,000
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 Cap0.97
Enterprise Value/Revenue4.23
Enterprise Value/Gross Profit6.88
Enterprise Value/Ebitda-101.53
Forecast
1Y Price Target
$6.75Price Target Upside55.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.03
Revenue Forecast (FY)$48.52M
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:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive tone driven by strong top-line growth (22% YoY), substantial PST revenue acceleration (166% YoY), significant international expansion (35% YoY), near-breakeven adjusted EBITDA and minimal cash burn in Q1, alongside meaningful pipeline progress (two programs to Phase III, 510(k) submissions, EU MDR clearance). Key near-term risks include a 130-basis-point gross margin decline (partly tariff-related), an 11% increase in operating expenses, seasonal Q2 cash outflows, and lumpy international distributor-driven revenue timing. On balance, the operational and strategic momentum and reiterated guidance outweigh the noted headwinds.Positive Updates
Record Quarterly Revenue and Strong Top-Line Growth
Q1 2026 revenue of $11.8 million, up 22% year-over-year, described as a record start to the year and driven by recurring revenue from ~60,000 patients on the KORU platform.
Negative Updates
Gross Margin Pressure
Gross margin declined to 61.5% from 62.8% a year ago (130 basis points decrease YoY); primary drivers were higher production costs from amortization timing and tariff-related charges (estimated 87 bps tariff impact).
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Revenue and Strong Top-Line Growth
Q1 2026 revenue of $11.8 million, up 22% year-over-year, described as a record start to the year and driven by recurring revenue from ~60,000 patients on the KORU platform.
Read all positive updates
Company Guidance
KORU reiterated full‑year 2026 guidance of $47.5–$50.0 million in revenue (15–22% growth), gross margin of 61–63%, and positive adjusted EBITDA and positive cash flow; that outlook follows a strong Q1: $11.8 million revenue (22% YoY), ~60,000 patients on the platform, domestic core +12% YoY, international core +35% YoY, PST revenues +166% YoY, Q1 gross margin 61.5% (down 130 bps from 62.8% prior year; tariff impact ~87 bps, adjusted to 62.4%), net loss $0.8M (improved 33%), adjusted EBITDA approximately breakeven (‑$0.01M, 95% improvement), operating expenses +11%, and minimal cash burn of $0.1M to end the quarter with $8.8M cash (with access to an unused $10M debt facility); management expects Q2 to be the heaviest cash quarter due to annual bonus payouts, positive cash flow in H2, and reiterated long‑term targets of $100M revenue, sustained double‑digit growth, gross margins >65% and EBITDA margins ~20%+.REPRO-MED Systems Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.26M | 41.13M | 33.65M | 28.52M | 27.90M | 23.49M |
| Gross Profit | 26.59M | 25.60M | 21.33M | 16.71M | 15.37M | 13.77M |
| EBITDA | -1.80M | -2.16M | -5.67M | -9.40M | -10.19M | -6.57M |
| Net Income | -2.28M | -2.64M | -6.07M | -13.74M | -8.66M | -4.56M |
Balance Sheet | ||||||
| Total Assets | 28.59M | 28.20M | 27.22M | 28.46M | 42.33M | 41.29M |
| Cash, Cash Equivalents and Short-Term Investments | 8.77M | 8.87M | 9.58M | 11.48M | 17.41M | 25.33M |
| Total Debt | 3.37M | 3.50M | 3.99M | 4.45M | 4.93M | 604.14K |
| Total Liabilities | 11.67M | 11.15M | 10.40M | 8.11M | 11.01M | 4.79M |
| Stockholders Equity | 16.92M | 17.05M | 16.81M | 20.35M | 31.33M | 36.50M |
Cash Flow | ||||||
| Free Cash Flow | 179.29K | -470.11K | -1.62M | -5.71M | -8.21M | -4.69M |
| Operating Cash Flow | 714.53K | 462.40K | -319.72K | -4.89M | -5.40M | -4.32M |
| Investing Cash Flow | -592.84K | -949.79K | -1.33M | -814.60K | -2.80M | -366.17K |
| Financing Cash Flow | -89.76K | -221.35K | -248.53K | -218.87K | 279.49K | 2.71M |
REPRO-MED Systems Technical Analysis
Positive
4.33
Price Trends
4.17
Negative
4.66
Negative
4.58
Negative
Market Momentum
-0.05
Negative
50.67
Neutral
67.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRMD, the sentiment is Positive. The current price of 4.33 is above the 20-day moving average (MA) of 4.03, above the 50-day MA of 4.17, and below the 200-day MA of 4.58, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 50.67 is Neutral, neither overbought nor oversold. The STOCH value of 67.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KRMD.
REPRO-MED Systems Risk Analysis
REPRO-MED Systems disclosed 52 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $205.40M | 18.96 | 9.13% | 2.15% | -4.43% | -10.66% | |
60 Neutral | $194.96M | 45.86 | 14.00% | ― | 3.50% | 157.81% | |
52 Neutral | $188.33M | -62.04 | -13.61% | ― | 23.30% | 57.37% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $248.54M | -2.34 | -21.50% | ― | -30.08% | -143.79% |
* Healthcare Sector Average
KRMD
REPRO-MED Systems
4.10
1.19
40.89%
INFU
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4.25
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UTMD
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MBOT
Microbot Medical
1.71
-0.95
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STSS
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1.81
-2.02
-52.74%
REPRO-MED Systems Corporate Events
Executive/Board ChangesShareholder Meetings
REPRO-MED Shareholders Back Board, Governance and Incentive Plan
Positive
May 21, 2026
REPRO‑MED Systems, a medical device company focused on home infusion therapies, held its 2026 Annual Meeting of Shareholders on May 19, 2026, with 36,678,784 shares voted. Shareholders elected all seven director nominees, including R. John F...
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.