CorMedix Financial Surge
CorMedix Delivers Strong Q2 Revenue and Income, Uplifts Full-Year Earnings Outlook
Key Points
Q2 2026 basic and diluted earnings per share were $0.33 and $0.29, respectively.
Total revenue and grant income for the quarter were $101.931 million, up from $39.736 million a year earlier, with net income of $25.988 million versus $19.828 million in Q2 2025.
The quarter included a non-recurring favorable change in estimate related to sales allowances of $9.0 million.
Operating expenses climbed 139% year over year to $41.5 million, reflecting higher operating costs.
Institutional investor activity included notable moves such as UBS Group AG adding 902,210 CRMD shares (+141.8%) in Q1 2026 and Marshall Wace, LLP reducing holdings by 1,463,297 shares (-74.4%).
CorMedix posted a standout second quarter, reporting revenue of $101.9 million and net income of $26.0 million for the period ending June 30, 2026, according to Quiver Quant. That marks a roughly 156% jump in revenue from $39.7 million in Q2 2025 — driven by $66.1 million in sales of its catheter-locking solution DefenCath and $35.8 million from its Melinta drug portfolio.
The company also beat Wall Street's earnings expectations, delivering a +11.54% earnings surprise against the Zacks consensus estimate of $0.26 per share, according to Yahoo Finance. Basic earnings per share came in at $0.33, with diluted EPS at $0.29.
DefenCath and Melinta Drive Record Revenue Growth
DefenCath, CorMedix's flagship product used to prevent bloodstream infections in kidney dialysis patients, contributed $66.1 million to Q2 revenue. The Melinta portfolio added another $35.8 million. Together, they pushed total revenue well past year-ago levels, according to Quiver Quant.
One item worth noting: the quarter included a $9.0 million non-recurring benefit tied to a change in estimate for sales allowances. Strip that out and the underlying performance is still strong, but investors should factor it in when comparing results across quarters.
Adjusted EBITDA Guidance Raised, Full-Year Sales Affirmed
CorMedix raised its full-year adjusted EBITDA guidance to a range of $125 million to $140 million. Q2 adjusted EBITDA alone hit $58.7 million, as TradingView reported. The company also kept its full-year sales guidance intact at $325 million to $345 million, according to Benzinga.
Operating expenses climbed 139% year over year to $41.5 million, reflecting the costs of scaling up. Still, the company ended Q1 2026 with about $178 million in cash and short-term investments — enough runway to fund its growth plans and pipeline.
REZZAYO Expansion Filing Expected in Second Half of 2026
CorMedix is moving forward with a supplemental new drug application — a regulatory filing asking the FDA to approve a new use — for REZZAYO, its antifungal treatment. The company expects to submit that filing in the second half of 2026. The move signals its push to grow beyond DefenCath.
Big Investors Shift Stakes in CRMD After Strong Run
Institutional investors made notable moves in CorMedix stock during Q1 2026. UBS Group AG added 902,210 shares — a 141.8% increase in its position. Meanwhile, Marshall Wace, LLP cut its stake by 1,463,297 shares, a reduction of 74.4%, according to Yahoo Finance.
The split in institutional behavior reflects differing views on the stock after a sharp run-up. CorMedix shares trade on the Nasdaq under the ticker CRMD. The company plans to hold a conference call to give investors further details on results and the business outlook.
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