RMTI · Rockwell Medical, Inc.

Rockwell Medical's first quarter 2026 results reflect a mixed performance. Net sales declined 8% year-over-year to $17.3 million, driven by reduced purchase volume from one customer, partially offset by pricing adjustments and new customer onboarding. Gross profit remained nearly flat at $2.9 million, while gross margin improved slightly to 17% from 16% in the prior year, indicating better cost management. Operating loss widened to $1.5 million from $1.4 million, and net loss increased to $1.6 million from $1.5 million, primarily due to higher general and administrative expenses. Adjusted EBITDA improved to a loss of $0.3 million from a loss of $0.4 million, reflecting cost-saving initiatives. Management highlighted operational changes expected to generate over $3 million in annualized gross profit savings, including pricing adjustments and distribution footprint optimization. The company updated its 2026 annual guidance, projecting net sales of $70 million to $75 million, gross margin of 18% to 22%, and positive Adjusted EBITDA of $1 million to $2 million, signaling a focus on profitability and cash flow generation. Cash and investments stood at $23.9 million as of March 31, 2026, down from $25.0 million at year-end 2025, due to seasonal items and a $500,000 payment related to the 2023 Evoqua acquisition. The final Evoqua payment was made in April 2026. Overall, the results and guidance indicate a company in transition, aiming to achieve sustained profitability through operational efficiencies and revenue growth.