CorMedix beats Q2 revenue estimates on DefenCath growth, raises FY adjusted EBITDA guidance
CRMD•Outlook and growth drivers
CorMedix maintained its full-year 2026 consolidated revenue guidance of $325 mln to $345 mln, while raising full-year 2026 adjusted EBITDA guidance to $125 mln to $140 mln. It also narrowed 2026 cash OpEx guidance to $145 mln to $155 mln.
Growth in DefenCath sales, especially from large outpatient dialysis customers and the onboarding of a large dialysis organization, drove revenue. Revenue also benefited from a full-quarter contribution of the acquired Melinta portfolio. CorMedix said a new multi-year supply agreement with a large dialysis operator expanded its contract footprint to all top 5 U.S. dialysis providers.
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the pharmaceuticals peer group is "buy". Wall Street's median 12-month price target for CorMedix Inc. is $15.00, about 111.3% above its August 12 closing price of $7.10. The stock recently traded at 27 times the next 12-month earnings versus a P/E of 14 three months ago.
Quarterly results beat estimates
CorMedix said second-quarter revenue rose and beat analyst expectations, driven by growth in DefenCath sales. The company also beat analyst expectations on EPS and net income.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $101.93 mln | $95.62 mln (5 Analysts) |
| Q2 EPS | Beat | $0.29 | $0.24 (5 Analysts) |
| Q2 Net Income | Beat | $25.99 mln | $23.72 mln (4 Analysts) |
