CorMedix Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $311.7M | $43.5M | — | $65,408 | $190,936 |
| Cost of revenue | $22.1M | $3.0M | — | $3,734 | $148,938 |
| Gross profit | $275.7M | $40.3M | — | $61,674 | $41,998 |
| Selling, general & administrative | — | — | $35.8M | $20.0M | $16.3M |
| Research and development | $19.3M | $3.9M | $13.2M | $10.7M | $13.1M |
| Operating expenses | $125.6M | $62.6M | $49.0M | $30.7M | $29.5M |
| Operating income | $150.1M | -$22.4M | -$49.0M | -$30.6M | -$29.4M |
| Interest expense | $2.8M | $36,000 | $34,296 | $26,515 | $15,943 |
| Pretax income | $150.0M | -$19.3M | -$46.3M | -$30.3M | -$29.5M |
| Income tax expense | -$13.0M | -$1.4M | $1.5M | -$585,617 | -$1.3M |
| Net income | $163.1M | -$17.9M | -$46.3M | -$29.7M | -$28.2M |
| Balance Sheet | |||||
| Cash and equivalents | $144.8M | $40.7M | $43.6M | $43.1M | $53.3M |
| Current assets | $367.1M | $114.6M | $79.5M | $59.6M | $66.5M |
| Total assets | $826.1M | $118.8M | $82.1M | $62.0M | $68.9M |
| Current liabilities | $174.3M | $33.8M | $11.4M | $6.3M | $5.3M |
| Total liabilities | $420.8M | $34.2M | $11.9M | $7.0M | $6.1M |
| Stockholders' equity | $405.3M | $84.7M | $70.1M | $55.1M | $62.8M |
| Cash Flow Statement | |||||
| Cash from operations | $175.0M | -$50.6M | -$38.4M | -$24.4M | -$21.2M |
| Depreciation and amortization | $677,000 | $154,000 | $70,755 | $84,618 | $61,890 |
| Stock-based compensation | $13.8M | $6.1M | $5.5M | $4.1M | $5.0M |
| Capital expenditure | $2.3M | $116,000 | $327,300 | $219,360 | $1.4M |
| Free cash flow | $172.8M | -$50.7M | -$38.7M | -$24.6M | -$22.6M |
Shares outstanding 78.5M · Free float 84.8%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.