Rockwell Medical, Inc. (NASDAQ:RMTI) Q1 2024 Earnings Conference Call May 14, 2024 8:00 AM ET Company Participants Heather Hunter - Senior Vice President, Chief Corporate Affairs Officer Mark Strobeck - President & Chief Executive Officer Jesse Neri - Senior Vice President, Finance Conference Call Participants Ram Selvaraju - H.C. Wainwright Anthony Vendetti - Maxim Group Operator Good morning, and welcome to Rockwell Medical's First Quarter 2024 Results Conference Call and Webcast. Please note, this event ...

Rockwell Medical (RMTI) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this maker of products used in the treatment of kidney disease and anemia would post a loss of $0.08 per share when it actually produced earnings of $0.02, delivering a surprise o ...

Financial Performance - Net sales for the three months ended March 31, 2024, increased to $22.676 million, up 15.3% from $19.668 million in the same period of 2023[15] - Gross profit for the same period was $3.064 million, representing a gross margin of 13.5%, compared to $2.599 million and a margin of 13.2% in 2023[15] - The operating loss narrowed to $1.324 million for Q1 2024, compared to a loss of $1.427 million in Q1 2023, indicating improved operational efficiency[15] - Net loss for the three months ended March 31, 2024, was $1.731 million, slightly better than the net loss of $1.750 million in the prior year[15] - Basic and diluted net loss per share improved to $0.06 for Q1 2024, compared to $0.10 for Q1 2023[15] - For the three months ended March 31, 2024, Rockwell reported a net loss of $1.731 million, compared to a net loss of $1.750 million for the same period in 2023, representing a decrease of approximately 1.1%[28] - For the three months ended March 31, 2024, net revenue was $22.676 million, an increase from $19.668 million for the same period in 2023, representing a growth of approximately 10.2%[68] - Rockwell Medical's total stockholders' equity as of March 31, 2024, was $20.643 million, a decrease from $21.291 million at the beginning of the year[21] Assets and Liabilities - Total assets decreased to $50.723 million as of March 31, 2024, down from $52.173 million at the end of 2023[12] - Total liabilities decreased to $30.080 million as of March 31, 2024, compared to $30.882 million at December 31, 2023[12] - Cash and cash equivalents decreased to $6.642 million from $8.983 million at the end of 2023, reflecting cash usage in operations[11] - The company reported an increase in accounts receivable to $11.094 million, up from $10.901 million at the end of 2023, indicating higher sales volume[11] - Total current assets decreased to $26.7 million as of March 31, 2024, down from $28.8 million as of December 31, 2023[11] - Total inventory as of March 31, 2024, was $6.251 million, slightly up from $6.049 million as of December 31, 2023[79] - The company had total current concentrate inventory of $6.1 million as of March 31, 2024, with a reserve of $25,000[80] - As of March 31, 2024, accounts receivable net was $11.094 million, up from $10.901 million as of December 31, 2023[70] Cash Flow and Financing - Net cash used in operating activities for the three months ended March 31, 2024 was approximately $2.4 million, an improvement from $3.9 million in the same period of 2023[35] - Rockwell's net cash provided by financing activities was $178,000 for the three months ended March 31, 2024, compared to a net cash used of $631,000 in the same period of 2023[28] - The company may require additional capital to sustain operations and execute its strategic plan, with $10.4 million available under its at-the-market facility[36] - The company sold 358,210 shares under the ATM facility for net proceeds of $0.6 million during the three months ended March 31, 2024[96] - The Company entered into a Loan and Security Agreement with Innovatus for up to $35.0 million, with net drawdown proceeds of $21.2 million and closing costs of $1.3 million[118] Customer and Revenue Concentration - Rockwell's customer DaVita, Inc. accounted for approximately 44% of total net product sales for the three months ended March 31, 2024, highlighting significant customer concentration risk[61] - The company recognized $0.5 million in revenue expected to be recognized in future years related to remaining performance obligations as of March 31, 2024[73] - The company recognized revenue from drug products of $11,000 and concentrate products of $22.665 million for the three months ended March 31, 2024[68] - The company entered into an Amended Agreement with DaVita, which includes an increase in product pricing effective September 1, 2023, and a one-time payment of $0.4 million to be recorded as revenue in Q4 2023[66] Operational Efficiency and Cost Management - Research and product development expenses were significantly reduced to $18, down from $278 in Q1 2023, reflecting a strategic shift in spending[15] - The company has implemented cost containment activities while continuing to review operational plans and acquire new customers[36] - The company is currently in compliance with all covenants under its Loan Agreement with Innovatus as of March 31, 2024[37] - The company has utilized various financing methods in the past, but current market conditions may limit future funding availability[39] Stock and Equity - Rockwell's weighted average number of shares outstanding increased to 29,327,204 for the three months ended March 31, 2024, compared to 18,359,940 for the same period in 2023[45] - As of March 31, 2024, there were 29,556,474 shares of common stock issued and outstanding, an increase from 29,130,607 shares as of December 31, 2023[91] - The Series X Preferred Stock has accreted a total of $0.2 million as of March 31, 2024[87] - The company issued a warrant to purchase 191,096 shares of common stock with an exercise price of $1.83 per share on January 2, 2024[99] Future Outlook and Strategic Considerations - The company is assessing the impact of recent accounting pronouncements, including ASU 2023-07 and ASU 2023-09, on its financial reporting[49][50] - Rockwell Medical's operational plans are affected by global macroeconomic uncertainties, including trade tariffs and geopolitical tensions[38]

Rockwell Medical Announces First Quarter 2024 Results, Raises 2024 Guidance Wixom, Michigan, May 14, 2024 – Rockwell 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, 2024. "We continue to see increasing interest in, and market demand for, our hemodialysis portfolio of product ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-23661 ROCKWELL MEDICAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Rockwell Medical, Inc. (NASDAQ:RMTI) Q4 2023 Earnings Conference Call March 21, 2024 8:00 AM ET Company Participants Heather Hunter - Senior Vice President, Chief Corporate Affairs Officer Mark Strobeck - President & Chief Executive Officer Jesse Neri - Senior Vice President, Finance Conference Call Participants Ram Selvaraju - H.C. Wainwright Anthony Vendetti - Maxim Group Operator Good morning, and welcome to Rockwell Medical's Fourth Quarter and Full Year 2023 Results Conference Call and Webcast. Please ...

O ROCKWELL MEDICAL Investor Presentation March 21, 2024 Certain statements in this presentation may constitute "forward-looking statements" within the meaning of federal securities laws, including, but not limited to, Rockwell's "continue," "can," "could," "would," "develop," "plan," "potential," "predict," "forecast," "project," "plan," "intend," "positioned to," "guidance" or the negatives of these terms, and presentation. These forward-looking statements are based upon current estimates and assumptions a ...

Rockwell Medical, Inc. (NASDAQ:RMTI) Q3 2023 Earnings Conference Call November 14, 2023 8:00 AM ET Company Participants Heather Hunter - SVP & Chief Corporate Affairs Officer Mark Strobeck - President & CEO Jesse Neri - SVP, Finance Conference Call Participants Anthony Vendetti - Maxim Group LLC Dipesh Patel - H.C. Wainwright Operator Good morning, and welcome to Rockwell Medical's Third Quarter 2023 Results Conference Call and Webcast. Please note this event is being recorded. At this time, I would like to ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ROCKWELL MEDICAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Form 10-Q __________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT O ...

Rockwell Medical, Inc. (NASDAQ:RMTI) Q2 2023 Earnings Conference Call August 14, 2023 8:00 AM ET Company Participants Heather Hunter - Senior Vice President and Chief Corporate Affairs Officer Mark Strobeck - President and Chief Executive Officer Paul McGarry - Senior Vice President, Finance and Chief Accounting Officer Conference Call Participants Dipesh Patel - H.C. Wainwright Operator Good morning and welcome to Rockwell Medical's Second Quarter 2023 Results Conference Call and Webcast. Please note this ...