Slides
Page 1
KORU Medical Systems Q2 2026 Earnings Call August 5 , 2026 KORU MEDICAL SYSTEMS TM 1
Page 2
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All statements that are not historical fact are forward-looking statements. Forward-looking statements discuss the Company’s current expectations and projections relating to its plans, objectives, future performance, business, outlook and financial projections. Forward-looking statements can be identified by words such as “vision”, “expected”, “estimated”, “plan”, “drivers”, “path”, "milestones", “opportunities” and “outlook”, and include without limitation timing of international expansion, existence and timing of pharma trials, financial guidance for 2026, long-term financial goals, and timing of 510(k) and global submissions. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those associated with inflation, tariffs, war and other geopolitical conflicts, customer ordering patterns, availability and costs of raw materials and labor and our ability to recover such costs, future operating results, growth of new patient starts and the Ig market, our compliance with Food and Drug Administration and foreign authority regulations and the outcome of regulatory audits, introduction and adoption of competitive products, acceptance of and demand for new and existing products, ability to penetrate new markets, success in enforcing and obtaining patents, reimbursement related risks, government regulation of the home health care industry, success of our research and development effort, expanding the market of FREEDOMTM System, demand in the SCIg market, availability of sufficient capital if or when needed, dependence on key personnel, and the impact of recent accounting pronouncements, as well as those risks and uncertainties included under the captions “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, which is on file with the SEC and available on our website at www.korumedical.com/investors . All information provided in this release and in the attachments is as of August 5, 2026, unless otherwise indicated. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law. Revenues: All references to revenue(s) in this presentation refer to net revenues. 2 Forward Looking Statements
Page 3
3 Capitalizing on the ongoing shift from IV hospital settings to subcutaneous therapy in the home and in infusion clinics KORU Freedom Infusion System is, today, primarily used by ~60,000 chronic, recurring subcutaneous immunoglobulin (SCIg) drug therapy patients Expanding our market beyond SCIg via 8 current pipeline drugs to bring new therapies onto our label Simple, trusted mechanical system with foundational capability to lead drug delivery market in shift towards connected health solutions Easy to Use, Differentiated Infusion Devices Q2 2026 Results Global Leader in Large-Volume Subcutaneous Drug Delivery
Page 4
4 Q2 2026 Results Second Quarter Performance Highlights Revenue: $12M Gross Margin: 65.1% Net Income: $0.3M 18% growth over prior year period Raising FY guidance from 61-63% to 62-64% 222% improvement over prior year period
Page 5
55 Protect and Grow our Core Domestic Business 1 Expand Internationally2 Enable More Drugs, Reach More Patients 3 KORU’s Strategic Growth Pillars Q2 2026 Results Strategic Vision Intact: Progress Across Growth Pillars 1. Third Party Data on File • 59% y/y growth • Vial to PFS conversion; key EU markets coming online in 2026 • Navigating specific regional launch dynamics extends timeline for full roll-out from 2H26 into 2027 • Confident in market opportunity with runway for further penetration • 12% y/y growth • SCIg recurring revenue base paired with continuous market share gains • Outpacing underlying market growth 1 • RYSTIGGO® validating value proposition in delivering non-Ig therapies • 8 non-Ig drugs in pipeline • Pipeline collaborations serve as growth engine for non-Ig strategy • Long-term partnership with Biogen/Apellis; near-term trial timing may shift with acquisition integration Technology Asset Investment to enhance and differentiate KORU Platform
Page 6
66 Q2 2026 Results Strategic Updates 1. Third Party Data on File Note: A detailed pipeline overview is available in the appendix and on KORU Medical’s Corporate Presentation Connected Monitoring Technology Acquisition Real-time data insights for pharma and specialty pharmacy partners Secondary Immunodeficiency (SID) Opportunity to access large patient base; large pharmas progressing trials with potential endpoints over next 12-18 months U.S. Oncology Strategy Withdrawing Phesgo® 510(k) submission to prioritize alternative biologics with higher volumes; Continuing to pursue Phesgo ® internationally Deferoxamine 510(k) Freedom360 Next Gen Pump Completed final stages of development process; 510(k) submission on track for 2H26 510(k) submitted at end of Q1 and navigating standard FDA review process; Estimated 200,000 annual infusions 1
Page 7
Q2 2025 Q2 2026 Net Revenues; In Millions $10.2 $12.0 Domestic Core International Core PST 18% Domestic Core • Increased 12% y/y • Outpaced SCIg market growth • Driven by new patient starts and market share gains • Growth across all product lines International Core • Increased 59% y/y • Growth in established markets • PFS strategy in Europe Pharma Services and Clinical Trials • Decreased 35% y/y • Lower orders for clinical trial use due to customer order timing $7.1 $8.0 $2.2 $3.5 $0.6 $0.9 7 Q2 2026 Results Q2 Y/Y Revenue by Business: $12M+, 18% Growth
Page 8
Gross MarginConsistent Performance >60% Q2 2026 Results Gross Margin Guidance Raised On Continued Strength • 160 basis point increase y/y • Lower manufacturing costs resulting from production through-put efficiencies • Higher average selling prices driven by price increase and customer mix • Extended supply agreement with CMO securing favorable pricing and volume efficiencies 8 2025A 2026E 2026E 2Q25 2Q26 62.3% 61 - 63% 62 - 64% 63.5% 65.1% 1 2 1 Refers to guidance range as of May 6, 2026 2 Refers to updated guidance range as of August 5, 2026
Page 9
Cash Balance as of June 30, 2026: $8.3M • 2Q26 cash usage of $0.5M • Positive cash flow from operations as net losses continue to decline • Investing activities included purchase of technology assets and capital spend for building and equipment • Non-cash primarily stock compensation, depreciation, and an asset disposal in the quarter Key Drivers 9 Ending Q1 2026 Cash Net Loss Working Capital Investing / Financing Activities Non-cash related Ending 2Q26 Cash ($0.6M) $2.0M $8.8M $8.3M * Refer to appendix slide 3 ($1.1M) ($0.8M) Q2 2026 Results Cash Usage of ($0.5M): Positive CF from Operations
Page 10
Q2 2026 Results 1H 2026 Financial Highlights: Continued Demonstration of Operating Leverage and Disciplined Financial Profile 10 1H 2026 1H 2025 Y/Y Δ Revenue $23.8M $19.8M +20% Growth Gross Margin 63.3% 63.1% +20bps OpEx $15.3M $14.1M +9% Increase Net Loss ($0.6M) ($1.4M) 60% Improvement Adj. EBITDA* $0.9M $0.02M >1,000% Improvement Cash Usage ($0.6M) ($1.5M) 62% Improvement * Refer to appendix slide 3
Page 11
Revenue Growth Gross Margin Profile Profitability Metrics $47.5-$48.5M, 15-18% growth Positive Adj. EBITDA & Year End Cash Balance > $7.5M 62-64% vs. prior range of 61-63% Key Drivers/Milestones • Acquisition and related operating expenses for technology asset in Q2 and 2H respectively • Q3 expected to be heaviest cash usage quarter • Anticipated positive cash flow in Q4 • Ending Cash usage < $1.4M Key Drivers/Milestones • Continued U.S. and international share gains in SCIg • NRE revenue from ongoing and new collaborations • 510(k) submission pending clearance • Timing on international PFS conversion markets Key Drivers/Milestones • Pricing and manufacturing efficiencies implemented to improve gross margin profile with new supplier contract • Revenue mix variability in new markets and channels • Start up of new production line for next gen pumps (Freedom360 ) 11 2026 Outlook Adjusting 2026 Guidance
Page 12
12 2026 Outlook Strategically Positioned for Accelerated Growth +20% EBITDA margin Long Term Financial Goals3 Accelerated double-digit revenue CAGR >65% gross margins $100M revenue Recent Accomplishments1 2Q26 Adj. EBITDA of $0.9M; 900% y/y improvement 18% 2Q26 revenue growth over prior year period 2Q26 cash usage of ($0.5M); 17% y/y improvement 2Q26 gross profit of $7.8M; gross margin 65.1% 1. As of 2Q26 Earnings Press Release published on August 5th, 2026. 2. RYSTIGGO® cleared by FDA for use on Freedom Infusion System in 1Q26 3. Per most recent strategic plan Strong Fundamentals, Significant Opportunity1 Recurring revenue from ~60,000 patients on platform Large and growing market for SC drug delivery; ~95 >10mL drugs in development Leading share in U.S. SCIg, gaining momentum internationally ~8 non-Ig pipeline drugs with RYSTIGGO®2 and deferoxamine as near-term commercial opportunities New strategic catalysts in SID and connected health technology
Page 13
13 Q2 2026 Results Consistent Execution and Key Strategic Progress 1 2 4 5 6 Q2 revenue of $12M represents growth of 18% over the prior year period Withdrew 510(k) application for use of the FreedomEDGE® with Phesgo® in favor of alternative oncology biologics with higher infusion volumes Entered into an updated supplier agreement supporting long-term operational strategy and gross margin expansion Q2 gross margin of 65.1%; full year 2026 gross margin guidance raised to 62-64% Net income improvement of 222% over the prior year period Acquired a connected monitoring digital asset to potentially strengthen patient support infrastructure and generate real-time data insights for pharma partners 3 7 Narrowed full year 2026 revenue guidance to $47.5 - $48.5 million to account for PFS conversion market dynamics in Europe
Page 14
14 Appendix
Page 15
Expand Internationally • Freedom60 EU MDR clearance with PFS compatibility • Launch of Freedom Infusion System with PFS in targeted markets • Exploring expansion of oncology strategy in international markets Protect and Grow our Core Domestic Business • New non-Ig drugs on label • UCB RYSTIGGO® 510(k) clearance in Jan 2026 • 510(k) submission Freedom360 (2026) • 510(k) and global submissions Phase 2 flow controller (2H 2026 - 1H 2027) • Outpace SCIg market growth of 8-10% Enable More Drugs, Reach More Patients • Add 4 new pipeline collaborations for FY26: 2 of 4 complete • Deferoxamine 510(k) submitted in Q1 2026 Adjusting 2026 Financial Guidance • 15-18% revenue growth • Positive Adjusted EBITDA, Cash of >$7.5M • Gross margin 62-64% 2026 Outlook Execution Milestones on Path to Accelerated Revenue Growth 15
Page 16
16 Enabling New Drugs Pipeline Opportunities in SCIg and New Drug Therapies SCIg Non-SCIg 6 Ig Collaborations for expanded indications and devices fuel share gains Commercial Phase III Phases I & II 1. Clearance dates are based on most recent estimation and are subject to change, 2. KRMD pursuing drug label independently 3. Annual infusion figures are estimates based on total patient population and dosing schedule. Not adjusted for clinical risk, 4. Empaveli® is the U.S. brand name, outside of the U.S. the therapy is marketed as Aspaveli® 5. Reflects continued international pursuit of Phesgo® opportunity; 510(k) application for U.S. use has been withdrawn. 6. Subject to changes based on pending Biogen/Apellis integration strategy ex U.S. U.S. Drugs on KORU’s Freedom Infusion System’s LabelActive Opportunities for New Drugs and Indications1 5.4M3 Annual Infusions 2 Non-Ig Drugs broadening platform4 <0.25M3 Annual Infusions 8 in Pipeline 9 on Label Estimated KRMD Launch 1-3 Yrs 1 Estimated KRMD Launch 0-1 Yr 1 Estimated KRMD Launch 3-5 Yrs 1 Drug Asset Annual Global Infusions Estimate3 Deferoxamine2 200k Phesgo5 600k Empaveli® FSGS + DGF6 25K + 25K Endocrinology Drug 500k Nephrology Drug 600k Respiratory Drug 1M ForCast Orthopedics 140k Multi-Indication Drug 2.4M Represents ~5.5M total annual infusions worldwide
Page 17
Non-GAAP Financial Measures This presentation includes the non-GAAP financial measures “adjusted EPS”, "adjusted diluted EPS“, and “adjusted EBITDA” that are not in accordance with, nor an alternate to, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material effect on KORU Medical's reported results and, therefore, should not be relied upon as the sole financial measures to evaluate the Company's financial results. Non-GAAP financial measures are meant to supplement, and to be viewed in conjunction with, GAAP financial results. 17* Non-cash items Three Months Ended Six Months Ended Reconciliation of GAAP Net Income/(Loss) to Non-GAAP Adjusted EBITDA: June 30, June 30, 2026 2025 2026 2025 GAAP Net Income /(Loss) $ 252,449 $ (206,867) $ (554,628) $ (1,373,104) Depreciation and Amortization* 210,031 209,487 407,562 426,844 Interest (Income), Net (59,870) (78,951) (140,866) (152,130) Stock-based Compensation Expense* 457,773 415,744 1,139,284 1,113,344 Adjusted EBITDA $ 860,383 $ 339,414 $ 851,351 $ 14,953 Weighted Average Number Of Common Shares Outstanding Basic 46,083,893 46,193,709 46,223,623 46,088,353 Diluted 49,509,437 46,193,709 46,223,623 46,088,353 Three Months Ended Six Months Ended Reconciliation of Reported Diluted EPS to Non-GAAP Adjusted Diluted EPS: June 30, June 30, 2026 2025 2026 2025 Reported Diluted Earnings Per Share $ 0.01 $ (0.00) $ (0.01) $ (0.03) Depreciation and Amortization* 0.00 0.00 0.01 0.01 Interest (Income), Net (0.00) (0.00) (0.00) (0.00) Stock-based Compensation Expense* 0.01 0.01 0.02 0.02 Adjusted Diluted Earnings Per Share $ 0.02 $ 0.01 $ 0.02 $ 0.00