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Side-by-side financial comparison of CorMedix Inc. (CRMD) and PROGRESS SOFTWARE CORP (PRGS). Click either name above to swap in a different company.
PROGRESS SOFTWARE CORP is the larger business by last-quarter revenue ($252.7M vs $128.6M, roughly 2.0× CorMedix Inc.). CorMedix Inc. produced more free cash flow last quarter ($92.7M vs $59.9M).
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.
Progress Software Corporation develops and sells enterprise software products including application development platforms, data connectivity tools, and digital experience solutions. It serves global enterprise clients across finance, healthcare, manufacturing, retail and other sectors, helping organizations build scalable, high-performance business applications and streamline operational workflows.
CRMD vs PRGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $128.6M | $252.7M |
| Net Profit | — | $25.7M |
| Gross Margin | 83.4% | 81.6% |
| Operating Margin | 46.0% | 15.2% |
| Net Margin | — | 10.2% |
| Revenue YoY | — | 17.5% |
| Net Profit YoY | — | 2144.6% |
| EPS (diluted) | $0.20 | $0.59 |
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 | $252.7M | ||
| Q3 25 | $104.3M | $249.8M | ||
| Q2 25 | $39.7M | $237.4M | ||
| Q1 25 | $39.1M | $238.0M | ||
| Q4 24 | — | $215.0M | ||
| Q3 24 | — | $178.7M | ||
| Q2 24 | — | $175.1M | ||
| Q1 24 | — | $184.7M |
| Q4 25 | — | $25.7M | ||
| Q3 25 | $108.6M | $19.4M | ||
| Q2 25 | $19.8M | $17.0M | ||
| Q1 25 | $20.6M | $10.9M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $28.5M | ||
| Q2 24 | — | $16.2M | ||
| Q1 24 | — | $22.6M |
| Q4 25 | 83.4% | 81.6% | ||
| Q3 25 | 89.3% | 81.0% | ||
| Q2 25 | 95.3% | 80.1% | ||
| Q1 25 | 95.9% | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | — | 81.7% | ||
| Q1 24 | — | 82.2% |
| Q4 25 | 46.0% | 15.2% | ||
| Q3 25 | 49.2% | 17.6% | ||
| Q2 25 | 49.2% | 16.3% | ||
| Q1 25 | 51.5% | 13.6% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 19.0% |
| Q4 25 | — | 10.2% | ||
| Q3 25 | 104.1% | 7.8% | ||
| Q2 25 | 49.9% | 7.2% | ||
| Q1 25 | 52.8% | 4.6% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | $0.20 | $0.59 | ||
| Q3 25 | $1.26 | $0.44 | ||
| Q2 25 | $0.28 | $0.39 | ||
| Q1 25 | $0.30 | $0.24 | ||
| Q4 24 | — | $0.01 | ||
| Q3 24 | — | $0.65 | ||
| Q2 24 | — | $0.37 | ||
| Q1 24 | — | $0.51 |
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 | $94.8M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $405.3M | $478.3M |
| Total Assets | $826.1M | $2.5B |
| Debt / EquityLower = less leverage | — | 2.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $94.8M | ||
| Q3 25 | $55.7M | $99.0M | ||
| Q2 25 | $190.7M | $102.0M | ||
| Q1 25 | $77.5M | $124.2M | ||
| Q4 24 | — | $118.1M | ||
| Q3 24 | — | $232.7M | ||
| Q2 24 | — | $190.4M | ||
| Q1 24 | — | $133.2M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $405.3M | $478.3M | ||
| Q3 25 | $374.1M | $477.7M | ||
| Q2 25 | $220.6M | $452.7M | ||
| Q1 25 | $114.9M | $431.8M | ||
| Q4 24 | — | $438.8M | ||
| Q3 24 | — | $425.6M | ||
| Q2 24 | — | $401.7M | ||
| Q1 24 | — | $461.7M |
| Q4 25 | $826.1M | $2.5B | ||
| Q3 25 | $750.9M | $2.4B | ||
| Q2 25 | $252.6M | $2.4B | ||
| Q1 25 | $149.6M | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | 2.93× | ||
| Q3 25 | — | 2.97× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.50× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $62.8M |
| Free Cash FlowOCF − Capex | $92.7M | $59.9M |
| FCF MarginFCF / Revenue | 72.1% | 23.7% |
| Capex IntensityCapex / Revenue | 1.3% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $172.8M | $229.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.5M | $62.8M | ||
| Q3 25 | $30.9M | $73.4M | ||
| Q2 25 | $30.0M | $30.0M | ||
| Q1 25 | $19.7M | $68.9M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | — | $57.7M | ||
| Q2 24 | — | $63.7M | ||
| Q1 24 | — | $70.5M |
| Q4 25 | $92.7M | $59.9M | ||
| Q3 25 | $30.4M | $72.4M | ||
| Q2 25 | $30.0M | $29.5M | ||
| Q1 25 | $19.7M | $67.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $56.6M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $70.2M |
| Q4 25 | 72.1% | 23.7% | ||
| Q3 25 | 29.1% | 29.0% | ||
| Q2 25 | 75.4% | 12.4% | ||
| Q1 25 | 50.5% | 28.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 38.0% |
| Q4 25 | 1.3% | 1.1% | ||
| Q3 25 | 0.5% | 0.4% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.0% | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | 2.44× | ||
| Q3 25 | 0.28× | 3.78× | ||
| Q2 25 | 1.51× | 1.76× | ||
| Q1 25 | 0.96× | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | — | 3.93× | ||
| Q1 24 | — | 3.11× |
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% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
