KRMD on Nasdaq

KORU Medical Systems, Inc.

American surgical and medical instruments and apparatus company. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerKRMD on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersMahwah, New Jersey1
  • Incorporated inDE2
  • Business address100 Corporate Drive, Mahwah, Nj 074302
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Increasing diagnoses of Primary Immunodeficiency Diseases (PIDD) , which frequently require immunoglobulin (Ig) treatment.3 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

62.3%Gross margin4
-7.2%Operating margin4
-6.4%Net margin4
22.2%Revenue growth, 20254
-15.5%Return on equity4

What sells

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

Regions

United States brought in 74% of the revenue KORU Medical Systems, Inc. broke down this way in fiscal 2025.

  1. United States$30.2M474%up 10% from 2024
  2. Outside the United States$10.9M426%up 77% from 2024
Regions by year
Regions20242025
United States$27.5M$30.2M
Outside the United States$6.1M$10.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue36¢$15.5M
  • Research and development10¢$4.4M
  • Selling, general and admin54¢$23.4M
  • Income tax0¢$21.9K

Out of $41.1M in revenue.4 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$462.4K

Out of $462.4K of cash from operations.4

Financial statements

Revenue567894$41.1M in 2025+78% since 2019
0$20.0M$40.0M$60.0M2019: $23.2M$23.2M20192020: $24.2M$24.2M2020+4%2021: $23.5M$23.5M2021−3%2022: $27.9M$27.9M2022+19%2023: $28.5M$28.5M2023+2%2024: $33.6M$33.6M2024+18%2025: $41.1M$41.1M2025+22%
Gross profit567894$25.6M in 2025+72% since 2019
0$10.0M$20.0M$30.0M2019: $14.9M$14.9M20192020: $14.9M$14.9M2020+1%2021: $13.8M$13.8M2021−8%2022: $15.4M$15.4M2022+12%2023: $16.7M$16.7M2023+9%2024: $21.3M$21.3M2024+28%2025: $25.6M$25.6M2025+20%
Operating income567894-$3.0M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2019: $585.7K$585.7K20192020: -$1.3M-$1.3M20202021: -$7.0M-$7.0M2021+460%2022: -$10.8M-$10.8M2022+53%2023: -$10.3M-$10.3M2023−5%2024: -$6.4M-$6.4M2024−37%2025: -$3.0M-$3.0M2025−54%
Net income567894-$2.6M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2019: $564.3K$564.3K20192020: -$1.2M-$1.2M20202021: -$4.6M-$4.6M2021+276%2022: -$8.7M-$8.7M2022+90%2023: -$13.7M-$13.7M2023+59%2024: -$6.1M-$6.1M2024−56%2025: -$2.6M-$2.6M2025−57%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
NET REVENUES$41.1M$33.6M
Cost of goods sold$15.5M$12.3M
Gross Profit$25.6M$21.3M
Selling, general and administrative$23.4M$21.6M
Research and development$4.4M$5.3M
Depreciation and amortization$810.5K$888.5K
Total Operating Expenses$28.6M$27.8M
Net Operating Loss-$3.0M-$6.4M
Income/(loss) on foreign currency exchange$53.1K-$46.0K
Other income/(expense)$9.9K-$16.2K
Interest income, net$293.4K$444.6K
TOTAL OTHER INCOME$356.4K$382.5K
LOSS BEFORE TAXES-$2.6M-$6.1M
Income tax expense-$21.9K-$2.9K
NET LOSS-$2.6M-$6.1M
Basic-$0.06-$0.13
Diluted-$0.06-$0.13
Basic46.2M shares45.8M shares
Diluted46.2M shares45.8M shares

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Leadership

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

Chief executive

  1. Andrew I. Sealfon2013–2016
  2. Daniel S. Goldberger2018–2019
  3. Donald B. Pettigrew2020
  4. Linda M. Tharby2021–2026
  5. Adam R. Kalbermatten2026–now

Chair

  1. Andrew I. Sealfon2011
  2. Daniel S. Goldberger2018–2019

President

  1. Andrew I. Sealfon2013
  2. Linda M. Tharby2021–2026
  3. Adam R. Kalbermatten2026–now

Chief financial officer

  1. Michael Richard Boscher2012–2014
  2. Karen Fisher2015–2020

Chief operating officer

  1. Manuel A. Marques2018–2021
  2. Christopher Pazdan2024–now
2010201520202025
Board members and other officers (24)

Former names

  • REPRO MED SYSTEMS INCJul 12, 1996 to Jun 3, 20222

Timeline

  1. Jul 2, 2026New chief executive Adam R. Kalbermatten becomes CEO12
  2. Apr 14, 2021New chief executive Linda M. Tharby becomes CEO13
  3. Dec 9, 2020New chief executive Donald B. Pettigrew becomes CEO14
  4. Oct 2, 2018New chief executive Daniel S. Goldberger becomes CEO15
  5. Apr 18, 2013New chief executive Andrew I. Sealfon becomes CEO16

Filings

332 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 215 insider forms, 20 large holders, 30 other. The latest 20:

  1. Oct 1, 20264 FORM 4 FOR 09-30-2026 EDGAR
  2. Oct 1, 20264 FORM 4 FOR 10-01-2026 EDGAR
  3. Oct 1, 20264 FORM 4 FOR 10-01-2026 EDGAR
  4. Oct 1, 20264 FORM 4 FOR 10-01-2026 EDGAR
  5. Oct 1, 20264 FORM 4 FOR 10-01-2026 EDGAR
  6. Oct 1, 20264 FORM 4 FOR 10-01-2026 EDGAR
  7. Sep 9, 20264 FORM 4 FOR 09-08-2026 EDGAR
  8. Aug 14, 20268-K FORM 8-K CURRENT REPORT FOR 08-13-2026 EDGAR
  9. Aug 6, 20264 FORM 4 FOR 07-28-2026 EDGAR
  10. Aug 5, 202610-Q FORM 10-Q QUARTERLY REPORT FOR 06-30-2026 EDGAR
  11. Aug 5, 20268-K FORM 8-K CURRENT REPORT FOR 08-05-2026 EDGAR
  12. Aug 3, 2026144 EDGAR
  13. Jul 29, 2026SCHEDULE 13G EDGAR
  14. Jul 13, 20264/A FORM 4/A AMENDMENT NO. 1 FOR 07-01-2026 EDGAR
  15. Jul 2, 20264 FORM 4 FOR 07-01-2026 EDGAR
  16. Jul 1, 20264 FORM 4 FOR 07-01-2026 EDGAR
  17. Jul 1, 20264 FORM 4 FOR 07-01-2026 EDGAR
  18. Jul 1, 20264 FORM 4 FOR 07-01-2026 EDGAR
  19. Jul 1, 20264 FORM 4 FOR 07-01-2026 EDGAR
  20. Jul 1, 20264 FORM 4 FOR 07-01-2026 EDGAR

The 332 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

17 open-market trades by officers, directors and large owners since October 2021: 16 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 8, 2026KALBERMATTEN ADAM RChief Commercial OfficerBuy32,000$3.16$101.1KForm 4
Jun 11, 2026KALBERMATTEN ADAM RChief Commercial OfficerBuy12,500$3.94$49.3KForm 4
May 18, 2026Schiller EricChief Technology OfficerBuy5,000$3.91$19.6KForm 4
May 15, 2026Tharby Linda MChief Executive OfficerBuy1,191$3.92$4.7KForm 4
May 15, 2026Tharby Linda MChief Executive OfficerBuy1,191$1,191.00$1.4MForm 4
May 14, 2026Pazdan ChristopherChief Operating OfficerBuy5,000$3.88$19.4KForm 4
May 14, 2026Adams Thomas EdwardChief Financial OfficerBuy5,500$3.86$21.2KForm 4
Dec 13, 2023Manko Joseph M. Jr.DirectorBuy145,833$2.40$350.0KForm 4
Dec 13, 2023Manko Joseph M. Jr.DirectorSale145,833$2.40$350.0KForm 4
Aug 21, 2023Horton Capital Partners, LLC10% ownerBuy10,000$2.65$26.5KForm 4
Aug 18, 2023Tharby Linda MChief Executive OfficerBuy5,272$2.53$13.3KForm 4
Aug 18, 2023Horton Capital Partners, LLC10% ownerBuy10,000$2.54$25.4KForm 4
Aug 16, 2023CASCELLA ROBERTDirectorBuy19,000$2.61$49.6KForm 4
May 13, 2022Tharby Linda MChief Executive OfficerBuy9,897$2.20$21.8KForm 4
May 13, 2022Manko Joseph M. Jr.DirectorBuy20,000$2.15$43.0KForm 4
May 12, 2022Tharby Linda MChief Executive OfficerBuy300$2.00$600Form 4
May 12, 2022Manko Joseph M. Jr.DirectorBuy20,000$2.01$40.2KForm 4

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 85. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
First Light Asset Management, LLC3,387,902$14.2M0.9%−380,478
Topline Capital Management, LLC3,373,842$14.2M3.7%−141,069
BlackRock, Inc.2,628,352$11.0M0.0%+256,526
Vanguard Capital Management LLC1,818,121$7.6M0.0%+131,897
Geode Capital Management, LLC1,128,096$4.7M0.0%+76,888
Simcoe Capital LLC827,393$3.5M2.1%+16,146
Meros Investment Management, LP759,664$3.2M1.0%−787
Lionhunter Capital Management, LLC693,139$2.9M1.3%New
State Street Corp646,572$2.7M0.0%−2,657
Archon Capital Management LLC642,923$2.7M1.1%No change
Northern Trust Corp347,173$1.5M0.0%+24,921
Vanguard Fiduciary Trust Co326,097$1.4M0.0%+19,644
Morgan Stanley322,959$1.4M0.0%−46,067
Vanguard Portfolio Management LLC309,833$1.3M0.0%+54,378
White Pine Capital LLC284,103$1.2M0.3%−119,389
Russell Investments Group, Ltd.269,586$1.1M0.0%−153,833
Qube Research & Technologies Ltd199,939$839.7K0.0%+20,925
Albion Financial Group /ut186,374$782.8K0.0%−30,000
Renaissance Technologies LLC164,900$692.6K0.0%+119,000
Connor, Clark & Lunn Investment Management Ltd.152,944$642.4K0.0%+12,201
Charles Schwab Investment Management Inc126,710$532.2K0.0%+18,829
Squarepoint Ops LLC124,755$524.0K0.0%+111,733
HighMark Wealth Management LLC120,935$507.9K0.2%No change
Goldman Sachs Group Inc100,475$422.0K0.0%−125,281
PNC Financial Services Group, Inc.97,000$407.4K0.0%−5

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

Sources

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