KORU 医疗系统公司 2025 年季度报告

(Mark One) [X]QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period EndedMarch 31, 2025 or [_]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number:0-12305 KORU MEDICAL SYSTEMS, INC.(Exact name of registrant as specified in its charter) (845)469-2042(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon stock, $0.01 par valueKRMDThe Nasdaq Stock Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Accelerated filer [_]Smaller reporting company[X]Emerging growth company[_] Large accelerated filer [_]Non-accelerated filer[X] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [_] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).[_] Yes[X]No PART I. FINANCIAL INFORMATION Statements of Cash Flows (Unaudited) for the three months ended March 31, 2025 and 20245 PART I — FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited) CURRENT ASSETSCash and cash equivalents$8,735,834$9,580,947Accounts receivable less allowance for credit losses of $0 as of March 31, 2025 andDecember 31, 20245,949,4115,720,750Inventory3,278,6462,803,669 KORU MEDICAL SYSTEMS, INC.NOTES TO THE UNAUDITED FINANCIAL STATEMENTS NOTE 1 —NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS KORU MEDICAL SYSTEMS, INC. (the “Company,” “KORU Medical,” “KORU,” “we,” “us” or “our”) develops, manufactures andcommercializes innovative and patient-centric large volume subcutaneous infusion solutions primarily for the subcutaneous drugdelivery market as governed by the United States Food and Drug Administration (the “FDA”) quality and regulatory system and BASIS OF PRESENTATION The accompanying financial statements should be read in conjunction with the Company’s annual report on Form 10-K for the yearended December 31, 2024 (“Annual Report”).In accordance with the rules and regulations of the U.S. Securities and ExchangeCommission (“SEC”), the Company has omitted footnote disclosures that would substantially duplicate the disclosures contained inthe audited financial statements of the Company. The accompanying interim financial statements are unaudited and reflect all CASH AND CASH EQUIVALENTS For purposes of the statements of cash flows, the Company considers all short-term investments with an original maturity of threemonths or less to be cash equivalents.As of March 31, 2025 the Company held cash and cash-equivalents of $8.7million, the PATENTS Costs incurred in obtaining patents have been capitalized and are being amortized over the legal life of the patents. STOCK-BASED COMPENSATION The Company maintains an omnibus equity incentive plan under which it grants options and other equity incentive awards to certainexecutives, key employees and consultants, as well as shares of common stock to non-employee directors. The fair value of each stock option grant is estimated on the date of the grant using the Black-Scholes option-pricing model.Alloptions are charged against income at their fair value.The entire compensation expense of the award is recognized over the vesting Shares of stock granted for director fees are recorded at the fair value of the shares at the grant date. Restricted stock awards are equity classified and measured at the fair market value of the underlying stock at the grant date. The fairvalue of restricted stock awards vesting at certain market capitalization thresholds were estimated on the date of grant using theBrownian Motion Monte Carlo lattice model. The fair value of restricted stock awards with time-based vesting were estimated on thedate of grant at the current stock price. The fair value of restricted stock awards vesting at certain annual sales growth thresholds were Performance share units (“PSUs”) are equity