What is the 13F Pro Quality Score for CRMD?

13F Pro ranks CorMedix Inc. (CRMD) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CRMD's current score at https://13fpro.ai/research/CRMD (free sign-up required for the full ranking).

Which hedge funds own the most CRMD stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of CRMD include Deep Track Capital,, BlackRock,, VANGUARD CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/CRMD as soon as new 13F filings post.

Where does 13F Pro source CRMD data?

All CorMedix Inc. fundamentals and ownership data come directly from SEC EDGAR. CorMedix Inc. files with the SEC under CIK 1410098. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CRMD in?

CorMedix Inc. (CRMD) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives CRMD's revenue?

Per CorMedix Inc.'s latest 10-Q filed with the SEC on 2026-05-14, the biggest revenue drivers are: DefenCath product sales ($97.5M, +149% YoY); Melinta Portfolio product sales ($24.4M, N/A (first quarter post-acquisition)); Contract revenue ($5.5M, N/A (first quarter with Melinta)). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/CRMD.

What are CRMD's largest expenses?

CorMedix Inc.'s latest 10-Q reports these as the largest expense items: Cost of sales (exclusive of amortization) ($12.0M, +677% YoY); Selling and marketing ($12.5M, +180% YoY); General and administrative ($21.7M, +124% YoY). Sourced directly from SEC EDGAR filing text for Q1 FY2026 (quarter ended March 31, 2026).

How often is CRMD research updated on 13F Pro?

CRMD's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

CorMedix Inc.(CRMD)Stock Analysis

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13F Pro Quality Score

75.5/100

Rank #122 of 2,879 stocksTOP 5%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

99.1/100

Profitability

95.4/100

Balance Sheet

97.7/100

Earnings Quality

30.0/100

Free Cash Flow

89.7/100

Institutional Flow

21.8/100

Revenue Scale

30.1/100

Dilution Risk

27.5/100

CRMD Stock Analysis & AI Quality Score

AI stock analysis and institutional research for CorMedix Inc. (CRMD), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores CRMD at 75.5/100 on a 32-signal composite quality model, placing it at rank #122 of 2,879 stocks — the top 5% of the AI-ranked universe. CRMD scores in the top quartile across revenue growth (99.1), balance sheet strength (97.7), profitability (95.4). Areas of concern include institutional flow (21.8) and earnings quality (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 27.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), CorMedix Inc. reports quarterly revenue of $127.4M, net income of $38.6M, an operating margin of 50.0%. Top institutional holders of CRMD by reported 13-F value include Deep Track Capital,, BlackRock,, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. CRMD trades on the Nasdaq exchange and files with the SEC under CIK 1410098. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CRMD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CorMedix Inc. directly from SEC EDGAR. CorMedix Inc.'s 13F Pro composite quality score has ranged between 26 and 88 since 2025, currently 75.5 — an improving long-term trajectory across 22 quarterly and live scoring snapshots.

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Fun facts about CorMedix Inc.

Quirks, history, and lore behind CRMD — the kind of stuff that makes a stock memorable.

1
The Basics
A small-cap biopharmaceutical company headquartered in New Jersey, focused on developing drugs to prevent serious infections in vulnerable patients.
2
The Numbers
With a market cap in the low hundreds of millions, this is a micro-to-small-cap name — revenues are modest but growing as its first commercial product finds its footing.
3
The History
Founded in the early 2000s, the company spent roughly two decades in clinical development before finally winning FDA approval for its flagship product in 2023 — a long road for a small team.
4
The Secret
Its core focus is catheter-related bloodstream infections — a niche but deadly problem for dialysis and other critically ill patients who rely on central venous catheters.
5
The Lore
Its approved product, taurolidine-based and sold under a distinct brand, is used as a catheter lock solution — essentially a chemical sentry guarding the line between patient and the outside world.
6
The Giveaway
The maker of DefenCath, the first FDA-approved catheter lock solution for hemodialysis patients, trades under a ticker that rhymes with the word for a disease it's fighting to prevent.

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What's Driving CRMD's Business? Latest 10-Q Breakdown

AI-extracted from CorMedix Inc.'s 10-Q filed 2026-05-14 — Q1 FY2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

CorMedix posted Q1 2026 revenue of $127.4M (+226% YoY) driven by DefenCath sales of $97.5M and $24.4M from Melinta Portfolio acquired in August 2025; net income of $38.6M.

Biggest Revenue Drivers

Total revenue: $127.4M+226% YoY

DefenCath product sales$97.5M+149% YoY

Sustained DefenCath demand including onboarding of large dialysis customer mid-prior year; includes $9.0M favorable change in estimate for Medicaid rebates and returns.

Melinta Portfolio product sales$24.4MN/A (first quarter post-acquisition)

Reflects typical first quarter purchasing patterns for infectious disease products REZZAYO, MINOCIN, VABOMERE, KIMYRSA, ORBACTIV, BAXDELA, and TOPROL-XL; lower wholesaler inventory levels at Q1 end.

Contract revenue$5.5MN/A (first quarter with Melinta)

$2.4M from BARDA agreement for pediatric and biodefense studies; $3.1M from Melinta licensing milestone, royalty, and inventory revenue.

Largest Expense Items

Cost of sales (exclusive of amortization)$12.0M+677% YoY

Higher product sales volume from DefenCath and Melinta Portfolio, plus manufacturing, distribution, packaging and overhead allocation.

Selling and marketing$12.5M+180% YoY

Increased personnel costs and marketing programs from larger product portfolio following Melinta acquisition.

General and administrative$21.7M+124% YoY

Combined company costs including facilities, personnel, IT infrastructure, PDUFA fees, branded prescription drug fees, and increased litigation-related costs.

Watch Items from the Filing

Three customers represent 24%, 23%, and 30% of Q1 2026 revenue; concentration slightly lower than prior year but remains elevated risk.
DefenCath TDAPA reimbursement transitions to post-TDAPA Add-On Adjustment on July 1, 2026; company expects significant decline in net pricing in H2 2026, partially offset by recovery in 2027.
Executive order on April 2, 2026 imposing tariffs on APIs, excipients, and packaging; company assessing impact and pursuing onshoring initiatives to mitigate over 2-3 years.
Material weakness in internal control over financial reporting remained unremedialed as of March 31, 2026; relates to review of significant non-routine transactions during acquisition and debt issuance period.
Contingent consideration liability of $105.6M recognized for Melinta acquisition; includes REZZAYO milestone ($20-25M for second indication approval) and royalties on REZZAYO and MINOCIN net sales.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$127.4M

Net Income

Q1 2026

$38.6M

Free Cash Flow

Q1 2026

$41.7M

Operating Margin

Q1 2026

50.0%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+617.0% YoY

$311.7MFY 2025

FY22 $65.4KFY23 —FY24 $43.5MFY25 $311.7M

Net Income

+1009.4% YoY

$163.1MFY 2025

FY22 $-29.7MFY23 $-46.3MFY24 $-17.9MFY25 $163.1M

Operating Income

+771.6% YoY

$150.1MFY 2025

FY22 $-30.6MFY23 $-49.0MFY24 $-22.4MFY25 $150.1M

EPS (Diluted)

+780.0% YoY

$2.04FY 2025

FY22 $-0.74FY23 $-0.91FY24 $-0.30FY25 $2.04

Total Assets

+595.1% YoY

$826.1MFY 2025

FY22 $62.0MFY23 $82.1MFY24 $118.8MFY25 $826.1M

Op. Cash Flow

+445.8% YoY

$175.0MFY 2025

FY22 $-24.4MFY23 $-38.4MFY24 $-50.6MFY25 $175.0M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$311.7M +617.0%	$43.5M	—	$65.4K -65.7%	$190.9K -20.2%	$239.2K
Net Income	$163.1M +1009.4%	$-17.9M +61.3%	$-46.3M -56.0%	$-29.7M -5.3%	$-28.2M -28.1%	$-22.0M
Operating Income	$150.1M +771.6%	$-22.4M +54.3%	$-49.0M -59.9%	$-30.6M -4.0%	$-29.4M -8.1%	$-27.2M
EPS (Diluted)	$2.04 +780.0%	$-0.30 +67.0%	$-0.91 -23.0%	$-0.74 +1.3%	$-0.75	—
Total Assets	$826.1M +595.1%	$118.8M +44.8%	$82.1M +32.3%	$62.0M -10.0%	$68.9M +39.8%	$49.3M
Operating Cash Flow	$175.0M +445.8%	$-50.6M -31.8%	$-38.4M -57.7%	$-24.4M -15.1%	$-21.2M +3.7%	$-22.0M

AI Insight: CRMD Financial Trends

CorMedix swung to sustained profitability with Q1 2026 revenue of $127M and operating income of $64M, though net income decelerated from Q4 2025's $109M peak.

• Revenue grew from $11M in Q3 2024 to $127M in Q1 2026, a 1,055% increase over six quarters.

• Operating cash flow turned positive at $20M in Q1 2025 and reached $94M in Q4 2025, sustaining at $42M in Q1 2026.

• Equity expanded from $46M in Q2 2024 to $437M in Q1 2026, driven by retained earnings and reinvestment.

⚠ Net income fell 64% from $109M in Q3 2025 to $39M in Q1 2026 despite stable operating income—investigate one-time items.

⚠ Operating margin compressed from 49% in Q3 2025 to 50% in Q4 2025, then to 50% in Q1 2026—verify sustainability.

AI Insight: CRMD Ratio Trends

Dramatic turnaround from Q3 2024 losses to sustained profitability, but Q1 2026 shows volatile earnings with declining net margin and ROA.

• Operating margin stabilized 46–51% from Q4 2024 onwards, demonstrating operational leverage; TTM OpMargin 48.4%.

• ROIC recovered sharply from -22.4% (Q3 2024) to 58–70% range (Q1 2025–Q1 2026), signaling improved capital efficiency.

• Net profit margin collapsed to 10.9% (Q4 2025) then 30.3% (Q1 2026) vs. 52.8% peak (Q1 2025); TTM NPM 45.2% masks quarterly volatility.

⚠ ROA fell 36.4pp from Q1 2025 peak (55.2%) to Q1 2026 (18.9%); largest decline in trailing period.

⚠ Q3 2025 NPM spike to 104.1% followed by collapse suggests one-time gain or accounting anomaly—sustainability unclear.

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Available Research

13F Pro tracks comprehensive data for CorMedix Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CRMD

Deep Track Capital, LP
$42.6M6,274,076 sh
BlackRock, Inc.
$40.5M5,967,575 sh
VANGUARD CAPITAL MANAGEMENT LLC
$21.3M3,129,656 sh
STATE STREET CORP
$14.9M2,191,843 sh
ROYCE & ASSOCIATES LP
$12.8M1,887,532 sh
GEODE CAPITAL MANAGEMENT, LLC
$12.3M1,816,907 sh
UBS Group AG
$10.4M1,538,245 sh
OBERWEIS ASSET MANAGEMENT INC/
$8.2M1,211,115 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$6.3M922,200 sh
Alyeska Investment Group, L.P.
$5.8M850,000 sh

Fund	Value	Shares
Deep Track Capital, LP	$42.6M	6,274,076
BlackRock, Inc.	$40.5M	5,967,575
VANGUARD CAPITAL MANAGEMENT LLC	$21.3M	3,129,656
STATE STREET CORP	$14.9M	2,191,843
ROYCE & ASSOCIATES LP	$12.8M	1,887,532
GEODE CAPITAL MANAGEMENT, LLC	$12.3M	1,816,907
UBS Group AG	$10.4M	1,538,245
OBERWEIS ASSET MANAGEMENT INC/	$8.2M	1,211,115
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$6.3M	922,200
Alyeska Investment Group, L.P.	$5.8M	850,000

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Is CRMD a good stock to buy?

13F Pro's AI-powered analysis of CorMedix Inc. (CRMD) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CRMD are available on the CRMD stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CRMD?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CRMD. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of CorMedix Inc.'s investment landscape.