CRMD on Nasdaq

CorMedix Inc.

American pharmaceutical preparations company based in Berkeley Heights. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

Compare with Evolus, Inc., Ironwood Pharmaceuticals or RIGEL PHARMACEUTICALS INC, or pick any stock.

  • TickerCRMD on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersBerkeley Heights, United States2
  • Incorporated inDE3
  • Business address389 Interpace Pkwy, Suite 450, Parsippany, Nj 070543
  • Filer categoryNon-accelerated filer3
  • Legal formCorporation2
  • LEI5299006YIA3L0MBW83582
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 41973952

See how the biggest companies compare on our leaderboards

Analysis included within this Annual Report, for additional details on the arrangement with Mundipharma.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

88.5%Gross margin5
48.2%Operating margin5
52.3%Net margin5
617.0%Revenue growth, 20255
40.2%Return on equity5
$172.8MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Defen Cath brought in 83% of the revenue CorMedix Inc. broke down this way in fiscal 2025.

  1. Defen Cath$258.8M583%up 495% from 2024
  2. Melinta Portfolio$45.5M515%
  3. Contract Revenue$7.4M52%
Products and services by year
Products and services20242025
Defen Cath$43.5M$258.8M
Melinta Portfolio$45.5M
Contract Revenue$7.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue7¢$22.1M
  • Research and development6¢$19.3M
  • Other costs30¢$94.2M
  • Income tax4¢$13.0M
  • Profit52¢$163.1M

Out of $311.7M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$2.3M
  • Kept or used elsewhere99¢$172.8M

Out of $175.0M of cash from operations.5

Financial statements

Revenue67895$311.7M in 2025+109941% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $283.3K$283.3K20192020: $239.2K$239.2K2020−16%2021: $190.9K$190.9K2021−20%2022: $65.4K$65.4K2022−66%2024: $43.5M$43.5M2024+66363%2025: $311.7M$311.7M2025+617%
Gross profit67895$275.7M in 2025
-$100.0M0$100.0M$200.0M$300.0M2019: -$90.0K-$90.0K20192020: $34.4K$34.4K20202021: $42.0K$42.0K2021+22%2022: $61.7K$61.7K2022+47%2024: $40.3M$40.3M2024+65214%2025: $275.7M$275.7M2025+585%
Operating income6789105$150.1M in 2025
-$50.0M0$50.0M$100.0M$150.0M$200.0M2019: -$21.0M-$21.0M20192020: -$27.2M-$27.2M2020+30%2021: -$29.4M-$29.4M2021+8%2022: -$30.6M-$30.6M2022+4%2023: -$49.0M-$49.0M2023+60%2024: -$22.4M-$22.4M2024−54%2025: $150.1M$150.1M2025
Net income6789105$163.1M in 2025
-$100.0M0$100.0M$200.0M2019: -$16.4M-$16.4M20192020: -$22.0M-$22.0M2020+34%2021: -$28.2M-$28.2M2021+28%2022: -$29.7M-$29.7M2022+5%2023: -$46.3M-$46.3M2023+56%2024: -$17.9M-$17.9M2024−61%2025: $163.1M$163.1M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Total Revenues$311.7M$43.5M
Cost of sales (exclusive of amortization of intangibles)$22.1M$3.0M
Amortization of intangibles$13.9M$156.0K
Gross profit$275.7M$40.3M
Research and development$19.3M$3.9M
Selling and marketing$38.1M$28.7M
General and administrative$68.2M$30.0M
Total operating expenses$125.6M$62.6M
Income (Loss) From Operations$150.1M-$22.4M
Interest income$3.8M$2.6M
Foreign exchange transaction loss-$52.0K-$31.0K
Unrealized gain on marketable security$5.4M
Other income$519.0K
Change in contingent consideration-$6.5M
Interest expense-$2.8M-$36.0K
Total other income (expense)-$125.0K$3.0M
Net Income (Loss) Before Income Taxes$150.0M-$19.3M
Income Tax (benefit)-$13.0M-$1.4M
Net Income (Loss)$163.1M-$17.9M
Unrealized (loss) from investments-$2.0K-$5.0K
Foreign currency translation gain (loss)-$86.0K$2.0K
Total other comprehensive (loss)-$88.0K-$3.0K
Comprehensive Income (Loss)$163.0M-$17.9M
Net Income (Loss) Per Common Share Basic (in Dollars per share)$2.25-$0.30
Net Income (Loss) Per Common Share Diluted (in Dollars per share)$2.04-$0.30
Weighted Average Common Shares Outstanding Basic (in Shares)72.0K shares58.9K shares
Weighted Average Common Shares Outstanding Diluted (in Shares)80.3K shares58.9K shares

Compare CorMedix Inc. with another company

Leadership

Who has led CorMedix Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John C. Houghton2010
  2. Randy Milby2013–2016
  3. Khoso Baluch2016–2021
  4. Matthew T. David2021–2022
  5. Joseph Todisco2022–now

President

  1. John C. Houghton2010

Chief financial officer

  1. Brian Lenz2010–2011
  2. Richard Cohen2013
  3. Steven W. Lefkowitz2013–2014
  4. Harry O'Grady2014
  5. Robert W. Cook2017–2019
  6. Matthew T. David2020–2025
  7. Susan Blum2025–now

Chief operating officer

  1. Randy Milby2012
  2. Elizabeth Masson2025–now
201520202025
Board members and other officers (35)

Timeline

  1. May 12, 2022New chief executive Joseph Todisco becomes CEO13
  2. Nov 10, 2021New chief executive Matthew T. David becomes CEO14
  3. Oct 5, 2016New chief executive Khoso Baluch becomes CEO15
  4. Mar 22, 2013New chief executive Randy Milby becomes CEO16
  5. Mar 26, 2010New chief executive John C. Houghton becomes CEO17

Filings

276 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 132 insider forms, 15 large holders, 49 other. The latest 20:

  1. Sep 18, 20264 EDGAR
  2. Sep 1, 20264 EDGAR
  3. Sep 1, 20264 EDGAR
  4. Sep 1, 20264 EDGAR
  5. Aug 13, 202610-Q EDGAR
  6. Aug 13, 20268-K EDGAR
  7. Aug 7, 20268-K EDGAR
  8. Jul 2, 20268-K EDGAR
  9. Jul 1, 20268-K EDGAR
  10. Jun 25, 2026S-8 POS EDGAR
  11. Jun 24, 20268-K EDGAR
  12. Jun 12, 2026SCHEDULE 13G/A EDGAR
  13. Jun 12, 2026SCHEDULE 13G/A EDGAR
  14. Jun 8, 20268-K CURRENT REPORT EDGAR
  15. May 15, 2026SCHEDULE 13G/A EDGAR
  16. May 14, 202610-Q EDGAR
  17. May 14, 20268-K EDGAR
  18. Apr 29, 2026ARS EDGAR
  19. Apr 29, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
  20. Apr 29, 2026DEF 14A PROXY STATEMENT EDGAR

The 276 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

34 open-market trades by officers, directors and large owners since October 2021: 20 buys and 14 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 21, 2026Dillione JanetDirectorSale10,000$6.88$68.8KForm 4
Dec 30, 2025DUNTON ALAN WDirectorSale20,000$13.00$260.0KForm 4
Dec 18, 2025Todisco JosephChief Executive OfficerSale30,000$12.00$360.0KForm 4
Dec 9, 2025Dillione JanetDirectorSale34,000$12.00$408.0KForm 4
Dec 9, 2025Lefkowitz Steven WDirectorSale40,000$11.88$475.2KForm 4
Dec 2, 2025Dillione JanetDirectorSale46,657$10.00$466.6KForm 4
Nov 24, 2025Dillione JanetDirectorSale26,343$9.93$261.6KForm 4
Nov 14, 2025Dillione JanetDirectorSale30,000$11.42$342.6KForm 4
Oct 23, 2025Kaplan MyronDirectorBuy25,000$11.02$275.5KForm 4
Sep 12, 2025DUNTON ALAN WDirectorSale10,000$13.13$131.3KForm 4
Sep 12, 2025Todisco JosephChief Executive OfficerSale50,000$13.00$650.0KForm 4
Sep 11, 2025Hurlburt ElizabethChief Operating OfficerSale41,121$13.08$537.9KForm 4
Sep 9, 2025Zelnick Kaufman BethChief Legal OfficerSale50,000$13.41$670.3KForm 4
Sep 9, 2025Hurlburt ElizabethChief Operating OfficerSale12,876$13.51$174.0KForm 4
Nov 14, 2024Hurlburt ElizabethChief Operating OfficerSale140,027$11.18$1.6MForm 4
Oct 31, 2024Mistry ErinEVP, Chief Commercial OfficerBuy1,500$9.99$15.0KForm 4
Mar 13, 2024Todisco JosephChief Executive OfficerBuy13,561$3.74$50.7KForm 4
Dec 15, 2023DUNTON ALAN WDirectorBuy3,000$3.30$9.9KForm 4
Dec 14, 2023DUNTON ALAN WDirectorBuy3,000$3.45$10.3KForm 4
Nov 17, 2023Mistry ErinEVP, Chief Commercial OfficerBuy1,000$4.00$4.0KForm 4

All 34 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,324,111$49.6M0.0%+356,536
Deep Track Capital, LP6,274,076$49.3M0.7%No change
Vanguard Capital Management LLC3,135,075$24.6M0.0%+5,419
State Street Corp2,316,845$18.2M0.0%+125,002
Royce & Associates LP2,176,362$17.1M0.1%+288,830
Geode Capital Management, LLC1,947,014$15.3M0.0%+130,107
UBS Group AG1,877,940$14.7M0.0%+339,695
Oberweis Asset Management Inc/1,323,915$10.4M0.2%+112,800
Alyeska Investment Group, L.P.850,000$6.7M0.0%No change
Marshall Wace, Llp779,535$6.1M0.0%+276,570
Northern Trust Corp756,430$5.9M0.0%+118,747
Vanguard Portfolio Management LLC708,604$5.6M0.0%−33,967
Trexquant Investment LP623,797$4.9M0.0%+63,160
Charles Schwab Investment Management Inc618,172$4.9M0.0%+15,206
Armistice Capital, LLC500,000$3.9M0.1%New
Vanguard Fiduciary Trust Co484,322$3.8M0.0%−21,357
Goldman Sachs Group Inc466,393$3.7M0.0%−44,936
Raymond James Financial Inc446,142$3.5M0.0%+117,918
Hennion & Walsh Asset Management, Inc.438,629$3.4M0.1%+263,618
Bridgeway Capital Management, LLC434,132$3.4M0.1%New
Palisades Investment Partners, LLC426,543$3.3M1.0%−183,605
Morgan Stanley423,341$3.3M0.0%−12,298
Kennedy Capital Management LLC419,284$3.3M0.1%−254,018
Private Advisor Group, LLC415,406$3.3M0.0%−89,262
Bank of New York Mellon Corp395,907$3.1M0.0%+29,394

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61