Filing Flows › CorMedix (CRMD) › Q2 2025
CorMedix (CRMD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
CorMedix (CRMD) reported revenue of $39.7M for the second quarter 2025 (Q2 2025), up 49-fold from a year earlier and +2% from the quarter before. Operating margin was 49.2%, net earnings $19.8M (49.9% of revenue).
CorMedix, Q2 2025: revenue $39.7M (49× year over year), operating margin 49.2%, net earnings $19.8M, operating cash flow $30.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $39.7M | +2% | 49× |
| Gross profit | $37.9M | +1% | 128× |
| Operating profit | $19.5M | -3% | — |
| Net earnings | $19.8M | -4% | — |
| Operating cash flow | $30.0M | +52% | — |
| Free cash flow | $30.0M | +52% | — |
What changed
Revenue was $39.7M in Q2 2025, up 4829% year over year and up 2% from the previous quarter.
Gross margin was 95.3%, up 58.6 points from a year earlier. Operating profit was $19.5M, a 49.2% margin (up 1947.3 points year over year). Operating expenses grew 18% against revenue growth of 4829%. The fastest-growing cost line was Research & development (+275%). Net earnings were $19.8M. The effective tax rate was 2.6%.
Operating cash flow was $30.0M, 151% of net earnings. Non-cash charges added back $163K of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $7.3M. Capital expenditures of $24K left free cash flow of $30.0M.
Questions
What was CorMedix's revenue in the second quarter 2025?
CorMedix (CRMD) reported revenue of $39.7M for the second quarter 2025 (Q2 2025), up 49-fold from a year earlier and +2% from the quarter before.
Was CorMedix profitable in the second quarter 2025?
Operating profit was $19.5M (49.2% of revenue) and net earnings $19.8M.
Source: CorMedix 10-Q on SEC EDGAR.