Business
Rockwell Medical Announces First Quarter 2025 Results
Reports net sales of $18.9 million for the first quarter of 2025, a 17% decrease from net sales of $22.7 million for the first quarter of 2024. Reports gross
About this update from Rockwell Medical, Inc.
[{"type":"text","content":"\n\nReports net sales of $18.9 million for the first quarter of 2025, a 17% decrease from net sales of $22.7 million for the first quarter of 2024.\n\n\nReports gross profit of $3.0 million for the first quarter of 2025, in line with the same period in 2024.\n\n\n WIXOM, Mich.--(BUSINESS WIRE)--\nRockwell Medical, Inc. (the \"Company\") (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products to dialysis providers worldwide, today announced financial and operational results for the three months ended March 31, 2025.\n\n\"During the first quarter, we continued to diversify our customer base with some of the leading regional, national and global hemodialysis providers and health systems. We remain a preferred provider as a result of our continued reliability, high-quality products, and customer-centric approach,\" said Mark Strobeck, Ph.D., Rockwell Medical’s President and CEO. \"Additionally, we continued to consolidate and further automate our manufacturing operations to reduce expenses and sustain our gross margin despite our largest customer moving away from Rockwell Medical. We look forward to sharing more updates in the months ahead.\"\n\nFIRST QUARTER 2025 FINANCIAL HIGHLIGHTS\n\n\nNet sales for the three months ended March 31, 2025 were $18.9 million, which represents a 17% decrease over net sales of $22.7 million for the same period in 2024. The decrease in net sales was driven by the Company's largest customer transitioning to another supplier. Subject to further discussions, this customer agreed to a one-time, non-refundable payment of $0.9 million, which was recognized in the first quarter, to ensure continuity of supply for products purchased during the first quarter 2025.\n\n\nGross profit for the three months ended March 31, 2025 was $3.0 million, which was in line with gross profit for the same period in 2024.\n\n\nGross margin for the three months ended March 31, 2025 was 16%, representing an increase from 14% for the same period in 2024.\n\n\nNet loss for the three months ended March 31, 2025 was $1.5 million, representing a 12% improvement over a net loss of $1.7 million for the same period in 2024.\n\n\nAdjusted EBITDA for the three months ended March 31, 2025 was ($0.4) million. Seasonal items associated with payroll tax and other pu...