RVP · Retractable Technologies, Inc.

Retractable Technologies' Q1 2026 results showed revenue decline to $7.2 million from $8.3 million year-over-year, primarily from a 20% drop in domestic sales despite only 11.5% lower unit volume, attributed to product mix shifts and higher distributor transaction costs. International revenues rose 42.4%, fueled by increased EasyPoint needle sales, though these carry lower average selling prices, contributing to overall softer pricing. Total unit sales edged up 3.6%, but negative gross margin pressured operating loss to $6.2 million from $4.7 million. Cost of manufactured product fell 3.1% due to sharply reduced freight and tariff expenses, limited to $11.6 thousand thanks to strategic sourcing and 39% domestic production. Operating expenses rose 14% or $655 thousand, largely from $900 thousand in non-recurring consulting and charitable donations. Net loss narrowed to $4.2 million, aided by a $192 thousand unrealized gain on securities versus a $7.2 million loss last year. Post-quarter, a 16% workforce cut aims to save $2.2 million annually in wages and benefits, net of $122 thousand separation payments. Management highlights ongoing tariff mitigation but notes potential future cost impacts and international order timing uncertainty. Full details are in the Form 10-Q filed May 15, 2026.