Revenue: As of FY2026 Q2, the actual value is USD 101.93 M, beating the estimate of USD 96.05 M.

EPS: As of FY2026 Q2, the actual value is USD 0.29, beating the estimate of USD 0.238.

EBIT: As of FY2026 Q2, the actual value is USD 38.8 M.

Second Quarter 2026 Financial Highlights

Consolidated Revenue

CorMedix Inc. reported total consolidated revenue and grant income of $101.9 million for the second quarter of 2026, an increase from $39.7 million in the comparable period of 2025. This included $66.1 million in sales from DefenCath® and $35.8 million from the acquired Melinta portfolio.

Net Income

Net income for the second quarter of 2026 was $26.0 million, compared to $19.8 million in the second quarter of 2025.

Adjusted EBITDA

Adjusted EBITDA reached $58.7 million in the second quarter of 2026, a significant increase from $22.4 million in the second quarter of 2025.

Gross Profit

Gross profit for the second quarter of 2026 was $77,126 thousand, up from $37,874 thousand in the second quarter of 2025.

Operating Expenses

Total operating expenses for the second quarter of 2026 were $34.2 million, an increase of approximately 87% from $18.3 million in the second quarter of 2025. Research and Development (R&D) expenses were $6.7 million in Q2 2026, compared to $2.4 million in Q2 2025. Selling and marketing expense increased approximately 95% to $12.4 million in Q2 2026 from $6.4 million in Q2 2025. General and administrative (G&A) expenses increased approximately 59% to $15.1 million in Q2 2026 from $9.5 million in Q2 2025.

Income From Operations

Income from operations was $42,910 thousand for the second quarter of 2026, compared to $19,544 thousand in the second quarter of 2025.

Cash and Cash Equivalents

Cash and cash equivalents, excluding restricted cash, totaled $256.7 million at June 30, 2026.

Six Months Ended June 30, 2026 Financial Highlights

Consolidated Revenue

Total consolidated revenue and grant income for the six months ended June 30, 2026, was $229,358 thousand, compared to $78,818 thousand for the same period in 2025.

Net Income

Net income for the six months ended June 30, 2026, was $64,589 thousand, up from $40,472 thousand for the same period in 2025.

Adjusted EBITDA

Adjusted EBITDA for the six months ended June 30, 2026, was $128,720 thousand, compared to $46,025 thousand for the same period in 2025.

Cash Flow Activities

Net cash provided by operating activities was $128,619 thousand for the six months ended June 30, 2026. Net cash provided by investing activities was $2,404 thousand, and net cash used in financing activities was -$19,168 thousand for the same period.

Operational Metrics

DefenCath® sales contributed $66.1 million of net revenue in the second quarter, driven by continued utilization by large outpatient dialysis customers. The acquired Melinta portfolio added $35.8 million in revenue. CorMedix Inc. signed a new multi-year commercial supply agreement for DefenCath® with a Large Dialysis Operator (LDO), expanding its commercial contract footprint to include all of the top 5 providers of dialysis services in the U.S. market.

Outlook / Guidance

CorMedix Inc. maintains its full-year 2026 consolidated revenue guidance of $325 million to $345 million. The company raises its full-year adjusted EBITDA guidance to a range of $125 million to $140 million and narrows its Cash OpEx guidance to $145 million to $155 million. CorMedix Inc. anticipates FDA submission of the sNDA for an expanded indication of REZZAYO for the prophylaxis of invasive fungal disease in the third quarter of this year, with agency action on the application expected in H1 2027.