Biopharmaceutical company CorMedix Inc. (NASDAQ: CRMD) reported a sharp increase in revenues for the fourth quarter of fiscal 2025, primarily driven by continued utilization of its DefenCath by outpatient dialysis customers.
The New Jersey-headquartered company, which is focused on developing therapeutic products for life-threatening diseases, posted total revenues of $128.6 million for the final three months of FY25, versus $31.2 million in the year-ago quarter. Sales of DefenCath, the company’s FDA-approved antimicrobial catheter lock solution, contributed $91.2 million of revenue.
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, the company approved a buyback program to repurchase up to $75 million of its outstanding common stock.
Joe Todisco, CorMedix’s CEO, said, “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.”