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Rockwell Medical (RMTI) investor relations material
Rockwell Medical Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net sales were $15.9 million, flat sequentially but down 44% year-over-year due to the transition of the largest customer to another supplier, partially offset by new customer sales and price increases.
Over 80% of the customer base is now under multi-year contracts, including new agreements with university medical centers, kidney centers, and a three-year deal with a Southern Florida dialysis center.
Adjusted EBITDA for Q3 2025 was $50,000, turning positive from prior quarters.
Cash position increased to $23.7 million at September 30, 2025, up from $18.4 million in Q2, primarily due to stock issuance.
Organization restructuring and operational right-sizing continued to enhance efficiency and support long-term growth.
Financial highlights
Q3 2025 net sales: $15.9M, down 44% year-over-year; nine months: $50.9M, down 34% year-over-year.
Q3 2025 gross profit: $2.3M (14% margin, or 18% excluding restructuring costs), down from $6.2M (22% margin) in Q3 2024.
Q3 2025 net loss: $1.8M, or $(0.05) per share, versus net income of $1.7M, or $0.05 per share, in Q3 2024.
Adjusted EBITDA for the nine months ended September 30, 2025, was negative $600,000, compared to positive $3.7M in 2024.
Cash, cash equivalents, and investments were $23.7M at quarter-end.
Outlook and guidance
2025 annual net sales guidance reiterated at $65M–$70M, with gross margin guidance of 16%–18% and Adjusted EBITDA guidance of ($0.5M) to $0.5M.
Management believes current working capital is sufficient for at least the next twelve months.
Growth anticipated in higher-margin bicarbonate disposables and at-home hemodialysis products.
2026 guidance expected with Q4 earnings; business development and acquisitions ongoing.
Ongoing discussions with the former largest customer may impact future revenue, but no assurance of contract extension.
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