Rockwell Medical (RMTI) investor relations material

Executive summary

• Q2 2025 net sales declined 38% year-over-year to $16.1 million, mainly due to the transition of the largest customer, partially offset by new and renewed long-term contracts and price increases.

• Gross profit for Q2 2025 was $2.5 million, a 45% decrease year-over-year, with gross margin stable at 16%.

• Net loss for Q2 2025 was $1.5 million, or $(0.05) per share, compared to net income of $0.3 million in Q2 2024.

• Achieved $1.8 million in cash flow from operations in Q2 2025, increasing cash to $18.4 million at quarter end.

• Over 80% of customers are under long-term contracts, supporting future revenue stability.

Financial highlights

• Q2 2025 net sales were $16.1 million, down 38% year-over-year; six-month net sales ended June 30, 2025 were $35.0 million, a 28% decrease year-over-year.

• Gross profit for Q2 2025 was $2.5 million; for the six months, $5.5 million, both down year-over-year.

• Q2 2025 net loss was $1.5 million; six-month net loss was $3.0 million.

• Adjusted EBITDA for Q2 2025 was negative $0.2 million, improving from Q1 but down from positive $1.4 million last year.

• Cash, cash equivalents, and investments at quarter-end were $18.4 million, up from $17.3 million in Q1.

Outlook and guidance

• 2025 net sales guidance reiterated at $65–70 million, gross margin 16–18%, and adjusted EBITDA between ($0.5) million and $0.5 million.

• Management believes current liquidity is sufficient for at least the next twelve months.

• Ongoing negotiations with the largest customer and other providers could impact late 2025 and future results.

• The company may raise additional capital via its $21.1 million ATM facility or other financings if needed.

• Expansion in the Western US seen as a $100 million opportunity, with updates expected later in the year.