Cormedix Q2 revenue, EBITDA rise; guidance lifted
Cormedix reported second-quarter revenue of $101.9 million and adjusted EBITDA of $58.7 million, signed a multi-year DefenCath supply deal with another large dialysis organization, and raised full-year adjusted EBITDA guidance.
On Thursday, Cormedix (NASDAQ: CRMD ) discussed second-quarter financial results during its earnings call.
The full transcript is provided below.
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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Cormedix reported second quarter revenue of $101.9 million, with an adjusted EBITDA of $58.7 million, reflecting strong demand for DefenCath and contributions from the acquired Melinta portfolio.
The company signed a multi-year commercial supply agreement for DefenCath with another large dialysis organization, covering all top five U.S. dialysis providers, and anticipates expansion in 2027.
Cormedix reaffirmed its 2026 revenue guidance of $325 million to $345 million and increased its adjusted EBITDA guidance to $125 million to $140 million.
Positive Phase 3 RESPECT data for Rezzayo, a potential prophylaxis treatment for invasive fungal disease, positions it for a possible 2027 FDA decision, with commercial preparations underway.
Operating expenses increased year-over-year due to the acquisition of the Melinta portfolio and higher personnel costs, while cash and cash equivalents stood at $256.7 million at the end of the quarter.
Real-world evidence and ongoing studies continue to support the clinical and economic benefits of DefenCath, with upcoming data presentations planned at major medical conferences.
Full Transcript OPERATOR (Operator) Good morning and welcome to the Cormedix second quarter 2026 earnings and corporate update conference call.
Today's conference call is being recorded.
There will be a question and answer session at the end of today's presentation and instructions on how to ask a question will be given at that time.
At this time I would like to turn the conference call over to Dan Ferry from LifeSci Advisors.
Please go ahead.
Dan Ferry, LifeSci Advisors Good morning and welcome to the Cormedix second quarter 2026 earnings and corporate update conference call.
Leading the call today is Joe Tedisco, Chairman and Chief Executive Officer of Cormedix.
He is joined by Liz Hurlbert, EVP and Chief Operating and Commercial Officer, and Susan Blum, EVP and Chief Financial Officer.
In addition, Beth Zelnik Coffin, EVP and Chief Legal and Compliance Officer and Corporate Secretary, and Dr.
Matt David, EVP and Chief Business Officer, are on the line and will be available during the Q and A session.
Before we begin, I would like to remind everyone that during the call management may make what are known as forward-looking statements within the meaning set forth in the Private Securities Litigation Reform Act of 1995.
These are statements other than statements of historical fact regarding management's expectations, beliefs, goals and plans about the company's prospects and future financial position.
Actual results may differ materially from the estimates and projections on which these statements are based due to a variety of important factors including the risks and uncertainties described in greater detail in Cormedix's filings with the SEC, which are available free of charge at the SEC's website or upon request from Cormedix.
Cormedix may not actually achieve the goals or plans described in these forward-looking statements, and investors should not place undue reliance on these statements.
Cormedix does not intend to update these forward-looking statements except as required by law.
During this call, the company will discuss certain non-GAAP measures of its performance.
GAAP to non-GAAP financial reconciliations and supplemental financial information are provided in Cormedix's earnings release and the current report on Form 8-K filed with the SEC.
This information is also available on the Investor Relations section of Cormedix's website.
At this time, it is now my pleasure to turn the call over to Joe Tedisco, Chairman and Chief Executive Officer of Cormedix.
Joe, please go ahead.
Joe Tedisco, Chairman and Chief Executive Officer Thank you, Dan.
Good morning everyone and thank you for joining us on this call.
In the second quarter, we continued to execute on our core strategic initiatives, solidifying DefenCath's market position as we navigate the evolving post-TDAPA landscape, meaningfully advancing our high value pipeline highlighted by the positive Phase 3 RESPECT data for Rezzayo and now working collaboratively with Mundipharma towards their submission of the sNDA for Rezzayo in the prophylaxis of invasive fungal disease, and lastly deploying our capital in a disciplined manner to drive long term value for shareholders while building an increasingly diversified and resilient business.
We announced this morning second quarter consolidated revenue of $101.9 million, adjusted EBITDA of $58.7 million.
Susan will provide more granular details of second quarter financial results today.
We also announced that we've signed a multi-year commercial supply agreement for DefenCath with an additional large dialysis organization, or LDO.
With this agreement, Cormedix now has commercial supply agreements in place with all five of the top dialysis providers in the U.S.