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Side-by-side financial comparison of CorMedix Inc. (CRMD) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
CorMedix Inc. is the larger business by last-quarter revenue ($128.6M vs $101.1M, roughly 1.3× FORRESTER RESEARCH, INC.). CorMedix Inc. produced more free cash flow last quarter ($92.7M vs $-4.3M).
CorMedix Inc. is a commercial-stage biopharmaceutical company focused on developing and commercializing novel therapeutic products for the prevention and treatment of infectious, inflammatory and cardiorenal diseases. Its lead candidate targets catheter-related bloodstream infections, serving critical care and chronic dialysis patient populations primarily across North America and European markets.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
CRMD vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $128.6M | $101.1M |
| Net Profit | — | $-33.9M |
| Gross Margin | 83.4% | 56.7% |
| Operating Margin | 46.0% | -36.6% |
| Net Margin | — | -33.5% |
| Revenue YoY | — | -6.5% |
| Net Profit YoY | — | -7941.4% |
| EPS (diluted) | $0.20 | $-1.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $128.6M | $101.1M | ||
| Q3 25 | $104.3M | $94.3M | ||
| Q2 25 | $39.7M | $111.7M | ||
| Q1 25 | $39.1M | $89.9M | ||
| Q4 24 | — | $108.0M | ||
| Q3 24 | — | $102.5M | ||
| Q2 24 | — | $121.8M | ||
| Q1 24 | — | $100.1M |
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $108.6M | $-2.1M | ||
| Q2 25 | $19.8M | $3.9M | ||
| Q1 25 | $20.6M | $-87.3M | ||
| Q4 24 | — | $432.0K | ||
| Q3 24 | — | $-5.8M | ||
| Q2 24 | — | $6.3M | ||
| Q1 24 | — | $-6.7M |
| Q4 25 | 83.4% | 56.7% | ||
| Q3 25 | 89.3% | 60.0% | ||
| Q2 25 | 95.3% | 55.5% | ||
| Q1 25 | 95.9% | 55.9% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 60.5% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 54.9% |
| Q4 25 | 46.0% | -36.6% | ||
| Q3 25 | 49.2% | 4.7% | ||
| Q2 25 | 49.2% | 6.2% | ||
| Q1 25 | 51.5% | -97.5% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | -9.3% |
| Q4 25 | — | -33.5% | ||
| Q3 25 | 104.1% | -2.3% | ||
| Q2 25 | 49.9% | 3.5% | ||
| Q1 25 | 52.8% | -97.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | -5.7% | ||
| Q2 24 | — | 5.2% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | $0.20 | $-1.75 | ||
| Q3 25 | $1.26 | $-0.11 | ||
| Q2 25 | $0.28 | $0.20 | ||
| Q1 25 | $0.30 | $-4.62 | ||
| Q4 24 | — | $0.02 | ||
| Q3 24 | — | $-0.30 | ||
| Q2 24 | — | $0.33 | ||
| Q1 24 | — | $-0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.5M | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.3M | $126.5M |
| Total Assets | $826.1M | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $63.3M | ||
| Q3 25 | $55.7M | $65.1M | ||
| Q2 25 | $190.7M | $67.8M | ||
| Q1 25 | $77.5M | $75.6M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | — | $62.8M | ||
| Q2 24 | — | $58.9M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | $405.3M | $126.5M | ||
| Q3 25 | $374.1M | $157.7M | ||
| Q2 25 | $220.6M | $159.5M | ||
| Q1 25 | $114.9M | $147.4M | ||
| Q4 24 | — | $229.5M | ||
| Q3 24 | — | $234.3M | ||
| Q2 24 | — | $237.1M | ||
| Q1 24 | — | $230.9M |
| Q4 25 | $826.1M | $404.0M | ||
| Q3 25 | $750.9M | $414.2M | ||
| Q2 25 | $252.6M | $436.0M | ||
| Q1 25 | $149.6M | $439.8M | ||
| Q4 24 | — | $503.9M | ||
| Q3 24 | — | $505.3M | ||
| Q2 24 | — | $524.2M | ||
| Q1 24 | — | $555.7M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $94.5M | $-3.2M |
| Free Cash FlowOCF − Capex | $92.7M | $-4.3M |
| FCF MarginFCF / Revenue | 72.1% | -4.2% |
| Capex IntensityCapex / Revenue | 1.3% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $172.8M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.5M | $-3.2M | ||
| Q3 25 | $30.9M | $1.2M | ||
| Q2 25 | $30.0M | $-3.6M | ||
| Q1 25 | $19.7M | $26.7M | ||
| Q4 24 | — | $-1.8M | ||
| Q3 24 | — | $264.0K | ||
| Q2 24 | — | $-2.9M | ||
| Q1 24 | — | $611.0K |
| Q4 25 | $92.7M | $-4.3M | ||
| Q3 25 | $30.4M | $524.0K | ||
| Q2 25 | $30.0M | $-4.2M | ||
| Q1 25 | $19.7M | $26.1M | ||
| Q4 24 | — | $-2.5M | ||
| Q3 24 | — | $-223.0K | ||
| Q2 24 | — | $-3.7M | ||
| Q1 24 | — | $-815.0K |
| Q4 25 | 72.1% | -4.2% | ||
| Q3 25 | 29.1% | 0.6% | ||
| Q2 25 | 75.4% | -3.8% | ||
| Q1 25 | 50.5% | 29.0% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | — | -0.2% | ||
| Q2 24 | — | -3.1% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | 1.3% | 1.1% | ||
| Q3 25 | 0.5% | 0.7% | ||
| Q2 25 | 0.1% | 0.5% | ||
| Q1 25 | 0.0% | 0.7% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 1.51× | -0.93× | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRMD
| Acquisition Of Melinta | $52.9M | 41% |
| Melinta Portfolio | $45.5M | 35% |
| Other | $18.6M | 14% |
| Contract Revenue | $7.4M | 6% |
| BARDA Agreement | $4.2M | 3% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
