KORU Medical Systems, Inc.
KRMD · Surgical & Medical Instruments & Apparatus · 45.9M shares · +2%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$3M (gross $3K, SBC $3M)
Reference price $3.96 · est. market cap ~$182M — last insider purchase, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50KORU Medical is a small, growing subcutaneous-infusion device maker that remains unprofitable despite a narrowing loss.
Strengths
- Revenue grew 22% (71st pct), with international core up 80%, and the net loss narrowed 56%
- Adequate liquidity (current ratio 2.4) and a leading niche in the SCIg infusion market
Risks
- Still loss-making: net margin -6.4%, operating margin -7.2%, ROE -15.5%, ROA -9.3%
- Heavy single-supplier, distributor-concentration, and binary biopharma-partner dependence; only $8.9M cash
Notable findings
- Net lossNet loss (net margin -6.4%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Insider buyingInsider buying — 8 open-market buy(s) by 5 insider(s) (cluster of 5 insiders, ~$2M, last 6mo) Form 4 ↗
- FDA approvalFDA clearance/approval — FreedomEdge Infusion System; High-Flo SubQ Needle Set; Precision Flow Rate Tubin (2026-01-28)
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
62.3%
Operating margin
-7.2%
Net margin
-6.4%
Return on equity
-15.5%
Return on assets
-9.4%
Revenue growth (QoQ)
8.0%
Current ratio
2.4×
EBITDA
-$2M
Tangible book value
$16M
Cash & investments
$9M
Stock comp / revenue
6.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | KALBERMATTEN ADAM R | Buy | 5.0K | $3.96 |
| 2026-06-11 | KALBERMATTEN ADAM R | Buy | 7.5K | $3.93 |
| 2026-05-18 | Schiller Eric | Buy | 5.0K | $3.91 |
| 2026-05-15 | Tharby Linda M | Buy | 1.2K | $3.92 |
| 2026-05-15 | Tharby Linda M | Buy | 1.2K | $1,191.00 |
| 2026-05-14 | Tharby Linda M | Option exercise | 14K | — |
| 2026-05-14 | Tharby Linda M | Tax withheld | 7.3K | $3.94 |
| 2026-05-14 | Pazdan Christopher | Option exercise | 5.3K | — |
| 2026-05-14 | Pazdan Christopher | Tax withheld | 1.5K | $3.94 |
| 2026-05-14 | Pazdan Christopher | Buy | 5.0K | $3.88 |
| 2026-05-14 | Adams Thomas Edward | Option exercise | 8.2K | — |
| 2026-05-14 | Adams Thomas Edward | Tax withheld | 2.9K | $3.94 |
| 2026-05-14 | Adams Thomas Edward | Buy | 5.0K | $3.86 |
| 2026-05-14 | Adams Thomas Edward | Buy | 459 | $3.90 |
| 2026-04-01 | FLETCHER R JOHN | Grant | 5.2K | $4.32 |
| 2026-04-01 | WHOLIHAN EDWARD | Grant | 3.5K | $4.32 |
| 2026-04-01 | Matin Shahriar | Grant | 3.5K | $4.32 |
| 2026-04-01 | French Donna | Grant | 3.5K | $4.32 |
| 2026-04-01 | CASCELLA ROBERT | Grant | 3.5K | $4.32 |
| 2026-03-31 | Manko Joseph M. Jr. | Grant | 3.5K | — |
| 2026-03-31 | Manko Joseph M. Jr. | Grant | 3.5K | — |
| 2026-03-16 | Pazdan Christopher | Option exercise | 5.1K | — |
| 2026-03-16 | Pazdan Christopher | Tax withheld | 1.6K | $4.28 |
| 2026-03-16 | Adams Thomas Edward | Option exercise | 5.4K | — |
| 2026-03-16 | Adams Thomas Edward | Tax withheld | 2.1K | $4.28 |
| 2026-03-16 | Tharby Linda M | Option exercise | 16K | — |
| 2026-03-16 | Tharby Linda M | Tax withheld | 5.8K | $4.28 |
| 2026-02-13 | Manko Joseph M. Jr. | Other | 770K | — |
| 2026-02-13 | Manko Joseph M. Jr. | Other | 750K | — |
| 2026-02-13 | Manko Joseph M. Jr. | Other | 750K | — |
| 2026-02-13 | Manko Joseph M. Jr. | Other | 282K | — |
| 2026-01-02 | Schiller Eric | Grant | 76K | — |
| 2026-01-02 | Matin Shahriar | Grant | 2.6K | $5.81 |
| 2026-01-02 | French Donna | Grant | 2.6K | $5.81 |
| 2026-01-02 | FLETCHER R JOHN | Grant | 3.9K | $5.81 |
| 2026-01-02 | CASCELLA ROBERT | Grant | 2.6K | $5.81 |
| 2026-01-02 | WHOLIHAN EDWARD | Grant | 2.6K | $5.81 |
| 2025-12-31 | Manko Joseph M. Jr. | Grant | 2.6K | — |
| 2025-12-31 | Manko Joseph M. Jr. | Gift | 17K | — |
| 2025-11-26 | Manko Joseph M. Jr. | Other | 41K | — |
| 2025-10-16 | Tharby Linda M | Grant | 29K | $4.08 |
| 2025-10-02 | Matin Shahriar | Grant | 3.9K | $3.83 |
| 2025-10-02 | WHOLIHAN EDWARD | Grant | 3.9K | $3.83 |
| 2025-10-02 | French Donna | Grant | 3.9K | $3.83 |
| 2025-10-02 | FLETCHER R JOHN | Grant | 5.9K | $3.83 |
| 2025-10-02 | CASCELLA ROBERT | Grant | 3.9K | $3.83 |
| 2025-09-30 | Manko Joseph M. Jr. | Grant | 3.9K | — |
| 2025-07-28 | KALBERMATTEN ADAM R | Grant | 300K | — |
| 2025-07-02 | CASCELLA ROBERT | Grant | 4.2K | $3.58 |
| 2025-07-02 | French Donna | Grant | 4.2K | $33.58 |
| 2025-07-02 | FLETCHER R JOHN | Grant | 6.3K | $3.58 |
| 2025-07-02 | Matin Shahriar | Grant | 4.2K | $3.58 |
| 2025-07-02 | WHOLIHAN EDWARD | Grant | 4.2K | $3.58 |
| 2025-06-30 | Manko Joseph M. Jr. | Grant | 4.2K | — |
| 2025-05-20 | Manko Joseph M. Jr. | Other | 14K | — |
| 2025-04-21 | Tharby Linda M | Tax withheld | 24K | $2.20 |
| 2025-04-02 | WHOLIHAN EDWARD | Grant | 5.9K | $2.56 |
| 2025-04-02 | Matin Shahriar | Grant | 5.9K | $2.56 |
| 2025-04-02 | French Donna | Grant | 5.9K | $2.56 |
| 2025-04-02 | FLETCHER R JOHN | Grant | 8.8K | $2.56 |
| 2025-04-02 | CASCELLA ROBERT | Grant | 5.9K | $2.56 |
| 2025-03-31 | Manko Joseph M. Jr. | Grant | 5.9K | — |
| 2025-03-19 | Pazdan Christopher | Tax withheld | 13K | $2.83 |
| 2025-03-19 | Pazdan Christopher | Option exercise | 36K | — |
| 2025-03-19 | Tharby Linda M | Tax withheld | 30K | $2.83 |
| 2025-03-17 | Pazdan Christopher | Option exercise | 5.1K | — |
| 2025-03-17 | Tharby Linda M | Option exercise | 16K | — |
| 2025-03-17 | Tharby Linda M | Tax withheld | 8.8K | $2.89 |
| 2025-03-17 | Pazdan Christopher | Tax withheld | 1.6K | $2.89 |
| 2025-03-17 | Miller Kenneth E | Option exercise | 5.9K | — |
| 2025-03-17 | Miller Kenneth E | Tax withheld | 2.2K | $2.89 |
| 2025-03-17 | Adams Thomas Edward | Option exercise | 5.4K | — |
| 2025-03-17 | Adams Thomas Edward | Tax withheld | 2.0K | $2.89 |
| 2025-02-06 | Manko Joseph M. Jr. | Other | 16K | — |
| 2025-01-21 | Manko Joseph M. Jr. | Other | 1.0M | — |
| 2025-01-21 | Manko Joseph M. Jr. | Other | 1.0M | — |
| 2025-01-21 | Manko Joseph M. Jr. | Other | 1.0M | — |
| 2025-01-21 | Manko Joseph M. Jr. | Other | 352K | — |
| 2025-01-03 | WHOLIHAN EDWARD | Grant | 3.9K | $3.81 |
| 2025-01-03 | Matin Shahriar | Grant | 3.9K | $3.81 |
| 2025-01-03 | French Donna | Grant | 3.9K | $3.81 |
| 2025-01-03 | FLETCHER R JOHN | Grant | 5.9K | $3.81 |
| 2025-01-03 | CASCELLA ROBERT | Grant | 3.9K | $3.81 |
| 2024-12-31 | Manko Joseph M. Jr. | Grant | 3.9K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07189013 ↗ | Assessing Patient Preference for Infusion Systems Primary Immunodeficiencies (PID), Secondary Immunodeficiencies (SID) | NA | Not Yet Recruiting | 2026-03-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-04-03 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-03-16 | Exec/director changeExhibits | filing ↗ |
| 2026-03-12 | ResultsExhibits | filing ↗ |
| 2026-02-11 | 5.03Exhibits | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2025-11-25 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-19 | 0001161697-26-000128 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001161697-26-000107 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001161697-26-000108 ↗ |
| 8-K | 2026-04-03 | 2026-03-30 | 0001161697-26-000086 ↗ |
| 8-K | 2026-03-16 | 2026-03-12 | 0001161697-26-000055 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001161697-26-000051 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001161697-26-000052 ↗ |
| 8-K | 2026-02-11 | 2026-02-05 | 0001161697-26-000038 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001161697-26-000027 ↗ |
| 8-K | 2025-11-25 | 2025-11-19 | 0001161697-25-000426 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0001161697-25-000372 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001161697-25-000371 ↗ |