CorMedix Inc. (NASDAQ:CRMD) reported third-quarter earnings of $1.26 per share on Wednesday, beating the consensus of 63 cents.

Sales reached $104.27 million, a jump from $11.5 million a year ago, beating the consensus of $86.02 million.

Net revenue of $104.3 million and pro forma net revenue of $130.8 million were primarily driven by higher-than-expected utilization of DefenCath by its outpatient dialysis customers.

DefenCath sales contributed $88.8 million of net revenue in the quarter.

The company recognized net income of $108.6 million and adjusted EBITDA of $71.9 million, and reported cash, cash equivalents, and short-term investments of $55.7 million.

Guidance: CorMedix raised its full-year 2025 pro forma net revenue guidance to $390 to $410 million compared to the consensus of $283.69 million, and fourth quarter net revenue guidance to $115 to $135 million compared to the Wall Street estimate of $118.85 million.

Also Read: CorMedix Analyst Says Investors Could Be Further Rewarded

In addition, CorMedix is increasing its guidance for fully synergized pro forma adjusted EBITDA for 2025 to a range of $220 – $240 million.

The acquisition of Melinta Therapeutics closed in August. Ongoing integration efforts are proceeding more quickly than projected, and CorMedix estimates synergy capture of approximately $30 million, of the total estimated $35 – $45 million, on an annual run-rate basis before the end of 2025.

Price Action: CRMD stock is up 12.06% at $12.54 at the last check on Wednesday.

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