CorMedix (CRMD) Cash Flow: Operating & Free Cash Flow

CorMedix Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for CorMedix Inc. (CRMD) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	163.06	-17.93	-46.34	-29.70	-28.21	-22.03	-16.43	-26.83	-33.01
Depreciation & Amortization	14.55	0.31	0.07	0.21	0.06	0.13	0.07	0.07	0.04
Deferred Income Tax	-25.80	0.00	0.00	0.00	-6.94	0.00	-0.58	-3.13	-4.57
Stock Based Compensation	13.83	6.13	5.49	4.07	5.04	2.50	2.44	1.11	1.66
Change in Working Capital	7.33	-39.41	2.23	1.07	1.84	-2.65	-1.93	1.94	2.88
Change in Accounts Receivable	-90.92	-51.79	0.00	0.04	-0.04	0.00	0.01	0.05	-0.05
Change in Inventory	-3.48	-5.49	-2.11	0.00	0.15	0.15	0.06	0.17	-0.10
Change in Accounts Payable	3.33	-2.56	2.08	-0.01	1.08	0.10	-1.56	0.78	0.16
Change in Other Working Capital	7.28	0.15	2.26	0.07	0.65	-2.89	-0.44	0.94	2.87
Other Operating Activities	7.28	0.15	0.13	0.12	7.06	0.08	1.38	3.13	4.42
Net Cash from Operating Activities	175.05	-50.62	-38.41	-24.36	-21.16	-21.97	-15.05	-23.70	-28.59
Investing Activities
Capital Expenditures	-2.26	-0.12	-0.33	-0.22	-1.43	-0.11	-0.04	-0.05	-0.15
Acquisitions	-308.51	0.00	0.00	3.71	9.13	0.00	11.98	0.00	0.00
Purchases of Investments	-52.95	-26.77	-77.08	-31.14	-15.29	7.54	-14.11	0.00	-13.07
Sales/Maturities of Investments	55.29	48.12	60.35	27.65	7.58	16.09	2.12	1.60	23.58
Other Investing Activities	0.00	0.00	0.00	-3.71	-9.13	0.00	-11.98	1.60	10.51
Net Cash from Investing Activities	-308.43	21.23	-17.06	-3.71	-9.13	7.43	-12.02	1.56	10.36
Financing Activities
Debt Repayment	150.00	0.00	0.00	0.00	0.00	0.00	0.00	7.50	0.00
Common Stock Issued	90.16	18.88	56.12	17.90	41.46	40.10	15.23	21.97	18.64
Common Stock Repurchased	-1.99	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	-8.09	-0.29	-0.20	0.13	0.30	0.41	10.57	-0.07	1.88
Net Cash from Financing Activities	238.45	26.32	55.92	17.90	41.76	40.10	25.80	29.40	20.52
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	-0.01	-0.01	0.01	0.00	-0.01	0.02
Net Change in Cash	105.07	-3.07	0.45	-10.18	11.45	25.57	-1.27	7.24	2.32
Cash at Beginning of Period	40.76	43.82	43.37	53.55	42.10	16.53	17.80	10.38	8.06
Cash at End of Period	145.83	40.76	43.82	43.37	53.55	42.10	16.53	17.62	10.38
Free Cash Flow	172.79	-50.73	-38.74	-24.58	-22.58	-22.08	-15.09	-23.75	-28.74
Supplemental Disclosures
Interest Paid	-	0.04	0.03	0.03	0.02	0.03	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About CorMedix Cash Flow

What is CorMedix's free cash flow?

CorMedix generated free cash flow of $172.79M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $175.05M minus $2.26M of capital expenditures. Free cash flow equaled 55.4% of revenue.

How much does CorMedix spend on capital expenditures?

CorMedix spent $2.26M on capital expenditures in fiscal 2025, compared with $116.00K a year earlier. That equals 1.3% of operating cash flow.

Does CorMedix pay dividends or buy back shares?

Yes. In fiscal 2025 CorMedix returned $1.99M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition