Net Income was $14.02 million in the fourth quarter, slightly higher than $13.5 million reported in Q4 2024. However, on a per-share basis, earnings declined to $0.16 in the fourth quarter from $0.20 in the prior-year period.
Adjusted EBITDA, which excludes non-cash items such as depreciation, amortization, stock-based compensation, and interest, totaled $77.2 million in Q4, compared to $15.3 million in the year-ago quarter.
Management reaffirmed its previously issued 2026 guidance and continues to expect full-year net revenue to be between $300 million and $320 million. The guidance for FY26 adjusted EBITDA has been reiterated in the $100-125 million range. Last month, it approved a program to repurchase up to $75 million of the company’s outstanding common stock.
Joe Todisco, CorMedix’s CEO, said, “I am proud of the Company’s progress over the past year as we have accelerated the expansion of patient access for DefenCath, completed our acquisition and integration of Melinta, and saw progress in our two ongoing Phase 3 clinical programs for Rezzayo prophylaxis and DefenCath in TPN. With the announcement of our share repurchase program and multiple near-term milestones on the horizon, most notably the Rezzayo ReSPECT phase III data, CorMedix is focused on driving business growth and shareholder value over the year ahead.”