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/company/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 BlackRock,, Deep Track Capital,, VANGUARD CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/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 2026-08-13, the biggest revenue drivers are: DefenCath ($66.1M); Melinta Portfolio ($28.2M); Contract revenue ($5.0M, +100% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/CRMD.

What are CRMD's largest expenses?

CorMedix Inc.'s latest 10-Q reports these as the largest expense items: General and administrative ($15.1M, +59% YoY); Cost of sales (excl. amortization) ($14.5M, +701% YoY); Selling and marketing ($12.4M, +95% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 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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SEC EDGAR: CIK 1410098 CRMD stock profile & AI dashboard →

13F Pro Quality Score

78.6/100

Rank #53 of 2,961 stocksTOP 5%

View Healthcare peers →

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

Revenue Growth

97.9/100

Profitability

92.7/100

Balance Sheet

98.6/100

Earnings Quality

70.5/100

Free Cash Flow

96.1/100

Institutional Flow

61.8/100

Revenue Scale

35.9/100

Dilution Risk

26.4/100

Email me the moment this company reports earnings

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Why CRMD Scores 79/100

exact factor attribution · 2026-09-11

CRMD's composite is driven by revenue growth and free cash flow, held back by scale and shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+9.6 pts

98th pct

Free cash flow

+6.9 pts

96th pct

Profitability

+6.4 pts

93th pct

Capital efficiency

+4.9 pts

99th pct

Earnings quality

+2.0 pts

71th pct

Earnings growth

+1.5 pts

79th pct

Institutional flow

+0.6 pts

62th pct

Shareholder dilution

-1.2 pts

26th pct

Scale

-2.1 pts

36th pct

Latest change (2026-08-16): 70 → 71 · ↑ earnings_quality 35→61; despite ↓ Revenue scale 29→16

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

CRMD Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for CorMedix Inc. (CRMD), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores CRMD at 78.6/100 on a 32-signal composite quality model, placing it at rank #53 of 2,961 stocks — the top 5% of the AI-ranked universe. CRMD scores in the top quartile across balance sheet strength (98.6), revenue growth (97.9), free cash flow (96.1). Areas of concern include revenue scale (35.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 26.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), CorMedix Inc. reports quarterly revenue of $101.9M, net income of $26.0M, an operating margin of 42.1%. Top institutional holders of CRMD by reported 13-F value include BlackRock, Deep Track Capital, 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 79 since 2025, currently 78.6 — an improving long-term trajectory across 52 quarterly and live scoring snapshots.

✦

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

✓ 25/25 datapoints verified

AI-extracted from CorMedix Inc.'s 10-Q filed 2026-08-13 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Revenue rose 157% to $101.9M on the Melinta acquisition and DefenCath demand, but management expects lower DefenCath net sales in H2 2026 after post-TDAPA reimbursement declined.

Biggest Revenue Drivers

DefenCath$66.1M

Sustained DefenCath demand, including onboarding of the large dialysis customer mid-last year

Melinta Portfolio$28.2M

Melinta acquired August 2025; no comparable prior-year amount, and Q2 reflects lower wholesaler channel inventory levels

Biggest Revenue Drivers

Total revenue: $101.9M+157% YoY

DefenCath$66.1M

Sustained DefenCath demand, including onboarding of the large dialysis customer mid-last year

Melinta Portfolio$28.2M

Melinta acquired August 2025; no comparable prior-year amount, and Q2 reflects lower wholesaler channel inventory levels

Contract revenue$5.0M+100% YoY

Milestone, royalty and inventory revenue under Melinta's licensing agreements; none in prior year

Grant income$2.6M+100% YoY

BARDA reimbursement recognized as qualifying costs are incurred; none in prior year

Largest Expense Items

General and administrative$15.1M+59% YoY

Combined-company costs, facilities, personnel, PDUFA and branded drug fees, offset by $4.2M insurance loss recoveries

Cost of sales (excl. amortization)$14.5M+701% YoY

Higher product sales driven by higher DefenCath volume and the Melinta acquisition

Selling and marketing$12.4M+95% YoY

Higher personnel cost for the larger product portfolio and marketing programs from the Melinta acquisition

Amortization of intangibles$10.3M+19,708% YoY

Intangible assets acquired in the Melinta merger completed in the third quarter of 2025

Margins: Gross profit was $77.1M, up 104%, but cost of sales rose 701% and amortization added $10.3M. Management flags new API tariffs as potentially adverse to gross margins.

Watch Items from the Filing

DefenCath's TDAPA reimbursement became a post-TDAPA Add-On July 1, 2026; reimbursement declined significantly and the company expects lower net sales in H2 2026.
Four customers were 27%, 25%, 20% and 10% of Q2 revenue; Customer C is 47% of gross accounts receivable at June 30, 2026.
Disclosure controls were not effective at June 30, 2026; the material weakness over review of significant non-routine transactions remains unremediated.
An impairment indicator was identified for the oritavancin group (KIMYRSA, ORBACTIV); no impairment was recorded, but a material future charge is reasonably possible.
A customer agreed to defer volume-rebate payments; CorMedix will issue an approximately $59M letter of credit in Q3 2026, backed by equal restricted cash.

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

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

Revenue

Q2 2026

$101.9M

Net Income

Q2 2026

$26.0M

Free Cash Flow

Q2 2026

$85.7M

Operating Margin

Q2 2026

42.1%

ROIC

Q2 2026

37.3%

Period

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

Free Cash Flow

+440.6% YoY

$172.8MFY 2025

FY22 $-24.6MFY23 $-38.7MFY24 $-50.7MFY25 $172.8M

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
Free Cash Flow	$172.8M +440.6%	$-50.7M -31.0%	$-38.7M -57.6%	$-24.6M -8.8%	$-22.6M -2.3%	$-22.1M

AI Insight: CRMD Financial Trends

Revenue collapsed 20% Q1-to-Q2 2026 after explosive 2025 growth, but operating cash flow and margins remain robust.

• Revenue surged from $11M (Q3 2024) to $129M (Q4 2025), then fell to $102M (Q2 2026)—sharp deceleration after 10x growth.

• Operating margin averaged 50% over last 4 quarters; operating cash flow reached $94M (Q4 2025) and $86M (Q2 2026).

• Equity rose from $59M (Q3 2024) to $461M (Q2 2026), driven by net income accumulation and capital infusions.

⚠ Q2 2026 revenue of $102M is 21% below Q1 2026 peak—investigate whether decline reflects seasonality, market headwinds, or execution issues.

⚠ Net income volatility: $109M (Q3 2025) fell to $14M (Q4 2025), recovered to $39M (Q1 2026), then $26M (Q2 2026)—sustainability unclear.

AI Insight: CRMD Ratio Trends

Operating margin stabilized around 46–50% since Q4 2024, but profitability metrics collapsed in Q2 2026 as net margin halved to 25.5% and ROE fell to 22.6%.

• Operating margin consistently 46–51% from Q4 2024 through Q1 2026, then dropped to 42.1% in Q2 2026.

• Net profit margin deteriorated sharply: 104.1% in Q3 2025, peaked 52.8% in Q1 2025, now 25.5% in Q2 2026.

• ROE collapsed from 71.9% (Q1 2025) to 22.6% (Q2 2026); ROA fell from 55.2% to 11.5% over same period.

⚠ NPM volatility suggests one-off items or inconsistent execution; Q3 2025 spike (104%) followed by Q4 2025 crash (10.9%).

⚠ ROIC held 54.9–70.1% through Q1 2025, then stabilized 35–58% with recent Q2 2026 dip to 37.2%.

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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

BlackRock, Inc.
$49.6M6,324,111 sh
Deep Track Capital, LP
$49.3M6,274,076 sh
VANGUARD CAPITAL MANAGEMENT LLC
$24.6M3,135,075 sh
STATE STREET CORP
$18.2M2,316,845 sh
ROYCE & ASSOCIATES LP
$17.1M2,176,362 sh
GEODE CAPITAL MANAGEMENT, LLC
$15.3M1,947,014 sh
UBS Group AG
$14.7M1,877,940 sh
OBERWEIS ASSET MANAGEMENT INC/
$10.4M1,323,915 sh
Alyeska Investment Group, L.P.
$6.7M850,000 sh
MARSHALL WACE, LLP
$6.1M779,535 sh

Fund	Value	Shares
BlackRock, Inc.	$49.6M	6,324,111
Deep Track Capital, LP	$49.3M	6,274,076
VANGUARD CAPITAL MANAGEMENT LLC	$24.6M	3,135,075
STATE STREET CORP	$18.2M	2,316,845
ROYCE & ASSOCIATES LP	$17.1M	2,176,362
GEODE CAPITAL MANAGEMENT, LLC	$15.3M	1,947,014
UBS Group AG	$14.7M	1,877,940
OBERWEIS ASSET MANAGEMENT INC/	$10.4M	1,323,915
Alyeska Investment Group, L.P.	$6.7M	850,000
MARSHALL WACE, LLP	$6.1M	779,535

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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. CRMD is classified as a small company.

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.