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KRMD · KORU Medical Systems, Inc.

KORU Medical Systems, Inc. develops, manufactures, and commercializes subcutaneous infusion solutions primarily for the subcutaneous drug delivery market in the United States and internationally. The company offers the FREEDOM infusion systems to deliver therapies to patients with chronic illnesses, such as primary immunodeficiency diseases (PIDD), chronic inflammatory demyelinating polyneuropathy (CIDP), secondary immunodeficiency disorder (SIDD), and paroxysmal nocturnal hemoglobinuria (PNH). Its products include the FREEDOM60 Syringe Driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing. The company was formerly known as Repro Med Systems, Inc. and changed its name to KORU Medical Systems, Inc. in March 2022. KORU Medical Systems, Inc. was incorporated in 1980 and is headquartered in Mahwah, New Jersey.

Cap structure and valuation

Cap structure
SP$4.20
SO45.9M
Options3.6M
Warrants
FD SO49.5M
MC$207.9M
Cash$8.8M
Total debt$0.2M
EV$199.3M
TTM Multiples
EV / Revenue4.6x
EV / EBITDA
MC / Net Income
EV / FCF1111.3x
MC / FCF1159.3x
Ownership & coverage
Institutional57.1%
Insiders8.0%
# Institutions121
Analysts5
Consensus
Avg target$6.80
Short % float1.8%
Days to cover4.19

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-06. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.

This filer tags no warrant count, so FD SO counts it as zero and understates dilution — treat FD SO, MC and EV as a floor. (XBRL reports nothing both for a filer that has none and for one that simply doesn't tag them.)

Financial statements

LTM12/31/2512/31/2412/31/2312/31/22
Total Revenue 43.2641.1333.6528.5227.90
Revenue YoY % 5.2%22.2%18.0%2.2%
Cost of Revenue 16.4715.5212.3111.8112.53
Gross Profit 26.7925.6021.3316.7115.37
Gross Profit YoY % 4.6%20.0%27.7%8.7%
Gross Margin % 61.9%62.3%63.4%58.6%55.1%
SG&A 24.0023.3821.6320.3720.61
R&D 4.594.395.265.744.96
Operating Expense 29.3828.5827.7826.9826.15
Operating Income (2.59)(2.97)(6.45)(10.27)(10.78)
Operating Income YoY % 12.8%53.9%37.2%4.7%
Operating Margin % (6.0%)(7.2%)(19.2%)(36.0%)(38.6%)
EBITDA (1.80)(2.16)(5.56)(9.40)(10.19)
EBITDA Margin % (4.2%)(5.3%)(16.5%)(33.0%)(36.5%)
Pretax Income (2.26)(2.62)(6.06)(9.77)(10.68)
Tax Provision 0.020.003.97(2.01)
Net Income (2.28)(2.64)(6.07)(13.74)(8.66)
Net Margin % (5.3%)(6.4%)(18.0%)(48.2%)(31.0%)
Diluted EPS -$0.11-$0.06-$0.13-$0.30-$0.19
Basic EPS -$0.05-$0.06-$0.13-$0.30-$0.19
Diluted Avg Shares 46.446.245.845.645.0
Basic Avg Shares 46.446.245.845.645.0

Insider activity (last 2 years)

Date Filed Reporter Relationship Trans. Date Code Shares Price Total Value
2026-05-20 Schiller Eric Officer (Chief Technology Officer) 2026-05-18 P 5,000 $3.91 $19,562
2026-05-20 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-05-15 P 1,191 $3.92 $4,669
2026-05-20 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-05-15 P 1,191 $1,191.00 $1,418,481
2026-05-19 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-05-14 M 13,977 $0
2026-05-19 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-05-14 F (7,326) $3.94 -$28,864
2026-05-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-05-14 M 5,327 $0
2026-05-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-05-14 F (1,470) $3.94 -$5,792
2026-05-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-05-14 P 5,000 $3.88 $19,400
2026-05-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-05-14 M 8,193 $0
2026-05-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-05-14 F (2,900) $3.94 -$11,426
2026-05-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-05-14 P 5,041 $3.86 $19,458
2026-05-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-05-14 P 459 $3.90 $1,790
2026-04-06 Manko Joseph M. Jr. Director, 10% Owner 2026-03-31 A 3,472 $0
2026-04-01 Matin Shahriar Director 2026-04-01 A 3,472 $4.32 $14,999
2026-04-01 French Donna Director 2026-04-01 A 3,472 $4.32 $14,999
2026-04-01 WHOLIHAN EDWARD Director 2026-04-01 A 3,472 $4.32 $14,999
2026-04-01 CASCELLA ROBERT Director 2026-04-01 A 3,472 $4.32 $14,999
2026-04-01 FLETCHER R JOHN Director, Other (Chairman of the Board) 2026-04-01 A 5,208 $4.32 $22,499
2026-04-01 Manko Joseph M. Jr. Director, 10% Owner 2026-03-31 A 3,472 $0
2026-03-18 KALBERMATTEN ADAM R Officer (President-Chief Commercial Off) 2026-03-17 A 45,098 $0
2026-03-18 KALBERMATTEN ADAM R Officer (President-Chief Commercial Off) 2026-03-17 A 45,098 $0
2026-03-18 KALBERMATTEN ADAM R Officer (President-Chief Commercial Off) 2026-03-17 A 67,779 $0
2026-03-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-03-17 A 31,226 $0
2026-03-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-03-17 A 31,226 $0
2026-03-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-03-17 A 46,929 $0
2026-03-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-03-17 A 38,918 $0
2026-03-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-03-17 A 38,918 $0
2026-03-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-03-17 A 58,490 $0
2026-03-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-03-16 M 5,064 $0
2026-03-18 Pazdan Christopher Officer (Chief Operating Officer) 2026-03-16 F (1,628) $4.28 -$6,968
2026-03-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-03-16 M 5,404 $0
2026-03-18 Adams Thomas Edward Officer (Chief Financial Officer) 2026-03-16 F (2,123) $4.28 -$9,086
2026-03-18 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-03-16 M 15,968 $0
2026-03-18 Tharby Linda M Director, Officer (Chief Executive Officer) 2026-03-16 F (5,756) $4.28 -$24,636
2026-02-13 Manko Joseph M. Jr. Director, 10% Owner 2026-02-13 J (770,418) $-0
2026-02-13 Manko Joseph M. Jr. Director, 10% Owner 2026-02-13 J 750,000 $0
2026-02-13 Manko Joseph M. Jr. Director, 10% Owner 2026-02-13 J (750,000) $-0
2026-02-13 Manko Joseph M. Jr. Director, 10% Owner 2026-02-13 J 282,347 $0
2026-01-15 Schiller Eric Officer (Chief Technology Officer) 2026-01-02 A 76,426 $0
2026-01-15 Schiller Eric Officer (Chief Technology Officer) 2026-01-02 A 232,297 $0
2026-01-06 Adams Thomas Edward Officer (Chief Financial Officer) 2026-01-02 A 75,000 $0
2026-01-05 Manko Joseph M. Jr. Director, 10% Owner 2025-12-31 A 2,581 $0
2026-01-05 Manko Joseph M. Jr. Director, 10% Owner 2025-12-31 G (17,000) $-0
2026-01-02 Matin Shahriar Director 2026-01-02 A 2,581 $5.81 $14,996
2026-01-02 CASCELLA ROBERT Director 2026-01-02 A 2,581 $5.81 $14,996
2026-01-02 French Donna Director 2026-01-02 A 2,581 $5.81 $14,996
2026-01-02 WHOLIHAN EDWARD Director 2026-01-02 A 2,581 $5.81 $14,996
2026-01-02 FLETCHER R JOHN Director, Other (Chairman of the Board) 2026-01-02 A 3,872 $5.81 $22,496
2025-11-26 Manko Joseph M. Jr. Director, 10% Owner 2025-11-26 J (41,000) $-0
2025-10-20 Tharby Linda M Director, Officer (President and CEO) 2025-10-16 A 29,463 $4.08 $120,209
2025-10-02 WHOLIHAN EDWARD Director 2025-10-02 A 3,916 $3.83 $14,998
2025-10-02 Matin Shahriar Director 2025-10-02 A 3,916 $3.83 $14,998
2025-10-02 French Donna Director 2025-10-02 A 3,916 $3.83 $14,998
2025-10-02 FLETCHER R JOHN Director, Other (Chairman of the Board) 2025-10-02 A 5,874 $3.83 $22,497
2025-10-02 CASCELLA ROBERT Director 2025-10-02 A 3,916 $3.83 $14,998
2025-10-02 Manko Joseph M. Jr. Director, 10% Owner 2025-09-30 A 3,916 $0
2025-08-11 KALBERMATTEN ADAM R Officer (Chief Commercial Officer) 2025-08-01 A 600,000 $0
2025-08-11 KALBERMATTEN ADAM R Officer (Chief Commercial Officer) 2025-07-28 A 300,000 $0
2025-08-11 Tharby Linda M Director, Officer (President and CEO) 2025-05-12 A 55,911 $0
2025-08-11 Tharby Linda M Director, Officer (President and CEO) 2025-05-12 A 111,729 $0
2025-08-11 Tharby Linda M Director, Officer (President and CEO) 2025-05-12 A 94,772 $0
2025-08-11 Pazdan Christopher Officer (Chief Operating Officer) 2025-05-12 A 21,308 $0
2025-08-11 Pazdan Christopher Officer (Chief Operating Officer) 2025-05-12 A 21,308 $0
2025-08-11 Pazdan Christopher Officer (Chief Operating Officer) 2025-05-12 A 36,077 $0
2025-08-11 Adams Thomas Edward Officer (Chief Financial Officer) 2025-05-12 A 32,773 $0
2025-08-11 Adams Thomas Edward Officer (Chief Financial Officer) 2025-05-12 A 32,773 $0
2025-08-11 Adams Thomas Edward Officer (Chief Financial Officer) 2025-05-12 A 55,583 $0
2025-07-02 CASCELLA ROBERT Director 2025-07-02 A 4,189 $3.58 $14,997
2025-07-02 WHOLIHAN EDWARD Director 2025-07-02 A 4,189 $3.58 $14,997
2025-07-02 Matin Shahriar Director 2025-07-02 A 4,189 $3.58 $14,997
2025-07-02 French Donna Director 2025-07-02 A 4,189 $33.58 $140,667
2025-07-02 FLETCHER R JOHN Director, Other (Chairman of the Board) 2025-07-02 A 6,284 $3.58 $22,497
2025-07-02 Manko Joseph M. Jr. Director, 10% Owner 2025-06-30 A 4,189 $0
2025-05-22 Manko Joseph M. Jr. Director, 10% Owner 2025-05-20 J (14,317) $-0
2025-04-23 Tharby Linda M Director, Officer (Chief Executive Officer) 2025-04-21 F (23,587) $2.20 -$51,891
2025-04-02 WHOLIHAN EDWARD Director 2025-04-02 A 5,870 $2.56 $15,027
2025-04-02 Matin Shahriar Director 2025-04-02 A 5,870 $2.56 $15,027
2025-04-02 French Donna Director 2025-04-02 A 5,870 $2.56 $15,027
2025-04-02 FLETCHER R JOHN Director, Other (Chairman of the Board) 2025-04-02 A 8,806 $2.56 $22,543
2025-04-02 CASCELLA ROBERT Director 2025-04-02 A 5,870 $2.56 $15,027
2025-04-02 Manko Joseph M. Jr. Director, 10% Owner 2025-03-31 A 5,870 $0
2025-03-21 Tharby Linda M Director, Officer (Chief Executive Officer) 2025-03-19 F (29,813) $2.83 -$84,371
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-19 M 36,331 $0
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-19 F (12,849) $2.83 -$36,363
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-19 M (36,331) $-0
2025-03-21 Tharby Linda M Director, Officer (Chief Executive Officer) 2025-03-17 M 15,968 $0
2025-03-21 Tharby Linda M Director, Officer (Chief Executive Officer) 2025-03-17 F (8,848) $2.89 -$25,547
2025-03-21 Tharby Linda M Director, Officer (Chief Executive Officer) 2025-03-17 M (15,968) $-0
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-17 M 5,063 $0
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-17 F (1,641) $2.89 -$4,738
2025-03-21 Pazdan Christopher Officer (Chief Operating Officer) 2025-03-17 M (5,063) $-0
2025-03-21 Miller Kenneth E Officer (Chief Commercial Officer) 2025-03-17 M 5,893 $0
2025-03-21 Miller Kenneth E Officer (Chief Commercial Officer) 2025-03-17 F (2,168) $2.89 -$6,259
2025-03-21 Miller Kenneth E Officer (Chief Commercial Officer) 2025-03-17 M (5,893) $-0
2025-03-21 Adams Thomas Edward Officer (Chief Financial Officer) 2025-03-17 M 5,404 $0
2025-03-21 Adams Thomas Edward Officer (Chief Financial Officer) 2025-03-17 F (1,988) $2.89 -$5,739
2025-03-21 Adams Thomas Edward Officer (Chief Financial Officer) 2025-03-17 M (5,404) $-0
2025-02-07 Manko Joseph M. Jr. Director, 10% Owner 2025-02-06 J (16,187) $-0
2025-01-21 Manko Joseph M. Jr. Director, 10% Owner 2025-01-21 J (1,000,000) $-0
2025-01-21 Manko Joseph M. Jr. Director, 10% Owner 2025-01-21 J 1,000,000 $0
2025-01-21 Manko Joseph M. Jr. Director, 10% Owner 2025-01-21 J (1,000,000) $-0
2025-01-21 Manko Joseph M. Jr. Director, 10% Owner 2025-01-21 J 351,948 $0
2025-01-03 Matin Shahriar Director 2025-01-03 A 3,937 $3.81 $15,000
2025-01-03 WHOLIHAN EDWARD Director 2025-01-03 A 3,937 $3.81 $15,000
2025-01-03 CASCELLA ROBERT Director 2025-01-03 A 3,937 $3.81 $15,000
2025-01-03 French Donna Director 2025-01-03 A 3,937 $3.81 $15,000
2025-01-03 FLETCHER R JOHN Director, Other (Chairman of the Board) 2025-01-03 A 5,905 $3.81 $22,498
2025-01-03 Manko Joseph M. Jr. Director, 10% Owner 2024-12-31 A 3,937 $0
2025-01-03 CASCELLA ROBERT Director 2024-10-01 A 5,454 $2.75 $14,998
2025-01-03 CASCELLA ROBERT Director 2024-07-11 A 5,545 $2.71 $15,027
2024-10-01 WHOLIHAN EDWARD Director 2024-10-01 A 5,454 $2.75 $14,998
2024-10-01 Matin Shahriar Director 2024-10-01 A 5,454 $2.75 $14,998
2024-10-01 French Donna Director 2024-10-01 A 5,454 $2.75 $14,998
2024-10-01 FLETCHER R JOHN Director, Other (Chairman of the Board) 2024-10-01 A 8,181 $2.75 $22,498
2024-10-01 CASCELLA ROBERT Director 2024-10-01 A 5,454 $2.75 $14,998
2024-10-01 Manko Joseph M. Jr. Director, 10% Owner 2024-09-30 A 5,454 $0
2024-09-30 Tharby Linda M Director, Officer (Chief Executive Officer) 2024-08-15 A 63,872 $0
2024-09-30 Tharby Linda M Director, Officer (Chief Executive Officer) 2024-08-15 A 127,660 $0
2024-09-30 Tharby Linda M Director, Officer (Chief Executive Officer) 2024-08-15 A 140,950 $0
2024-09-30 Pazdan Christopher Officer (Chief Operating Officer) 2024-08-15 A 20,255 $0
2024-09-30 Pazdan Christopher Officer (Chief Operating Officer) 2024-08-15 A 20,255 $0
2024-09-30 Pazdan Christopher Officer (Chief Operating Officer) 2024-08-15 A 44,721 $0
2024-09-30 Miller Kenneth E Officer (Chief Commercial Officer) 2024-08-15 A 23,574 $0
2024-09-30 Miller Kenneth E Officer (Chief Commercial Officer) 2024-08-15 A 23,574 $0
2024-09-30 Miller Kenneth E Officer (Chief Commercial Officer) 2024-08-15 A 52,008 $0
2024-09-30 Adams Thomas Edward Officer (Chief Financial Officer) 2024-08-15 A 21,617 $0
2024-09-30 Adams Thomas Edward Officer (Chief Financial Officer) 2024-08-15 A 21,617 $0
2024-09-30 Adams Thomas Edward Officer (Chief Financial Officer) 2024-08-15 A 47,722 $0
2024-07-26 Manko Joseph M. Jr. Director, 10% Owner 2024-07-24 J (721,781) $-0
2024-07-12 Manko Joseph M. Jr. Director, 10% Owner 2024-07-11 A 5,545 $0
2024-07-12 WHOLIHAN EDWARD Director 2024-07-11 A 5,545 $2.71 $15,027
2024-07-12 Matin Shahriar Director 2024-07-11 A 5,545 $2.71 $15,027
2024-07-12 French Donna Director 2024-07-11 A 5,545 $2.71 $15,027
2024-07-12 FLETCHER R JOHN Director, Other (Chairman of the Board) 2024-07-11 A 8,371 $2.71 $22,685
2024-07-12 CASCELLA ROBERT Director 2024-07-11 A 5,545 $2.71 $15,027