Koru Medical sees FY23 revenue $32.5M-$33.5M, consensus $30.91M

KORU Medical expects: Full year 2023 net revenue between $32.5 and $33.5 million, representing growth in the range of 17%-20%: To sign 6 new Novel Therapies collaborations and Two 510(k) filings submitted in second half. Gross margins between 58% and 60% on a full year, with first half margins expected between 55% to 57% and a planned exit between 60% and 62%: Chester, NY site closure Q1; completion of manufacturing outsourcing transition Q2. Cash balance at year-end 2023 greater than $10.0 million: Operating expenses of approximately $30.0 million, inclusive of stock compensation expense, Working capital improvements in inventory of approximately $2.0 million, and Breakeven in second half of 2024 based on current strategic outlook