Rockwell Medical(RMTI) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2025 were $15.9 million, a 44% decrease from $28.3 million in Q3 2024, primarily due to the largest customer transitioning to another supplier[7] - Gross profit for Q3 2025 was $2.3 million, representing a 64% decrease from $6.2 million in Q3 2024[7] - Net loss for Q3 2025 was $1.8 million, compared to net income of $1.7 million in Q3 2024[11] - Operating loss for the three months ended September 30, 2025, was $(1,584) million, compared to an operating income of $1,936 million in the same period of 2024[26] - Net loss for the three months ended September 30, 2025, was $(1,753) million, contrasting with a net income of $1,664 million in the same quarter of 2024[28] - Basic net income (loss) per share for the three months ended September 30, 2025, was $(0.05), compared to $0.05 in the same period of 2024[26] Adjusted Metrics - Adjusted EBITDA for Q3 2025 was $50,000, a significant decline from $2.8 million in Q3 2024, but an improvement from ($0.2) million in Q2 2025[11] - Adjusted EBITDA for the three months ended September 30, 2025, was $50 million, significantly lower than $2,798 million in the same period of 2024[28] - Adjusted gross profit for the three months ended September 30, 2025, was $2,832 million, while the adjusted gross margin was 18%, compared to 22% in the same period of 2024[29] Guidance and Future Outlook - The company confirmed its 2025 guidance for net sales to be between $65 million and $70 million, with a gross margin target of 16% to 18%[14] - The company signed new long-term purchasing agreements, including a three-year commitment with a dialysis center in Florida, potentially generating $1 million in annualized net sales[13] Cash and Assets - Cash position increased to $23.7 million at September 30, 2025, up from $18.4 million at June 30, 2025, driven by common stock issuance[10] - Total assets as of September 30, 2025, were $57.5 million, compared to $57.1 million in 2024[24] Expenses - Selling and marketing expenses for the three months ended September 30, 2025, were $531 million, down from $726 million in the same period of 2024[26] - General and administrative expenses for the three months ended September 30, 2025, were $3,325 million, slightly lower than $3,577 million in the same period of 2024[26] - Research and product development expenses were not reported for the three months ended September 30, 2025, compared to $18 million in the same period of 2024[26] Recognition - Rockwell Medical was recognized as a 2025 Fortune Best Workplace in Manufacturing and Production for the second consecutive year[13] Gross Margin - Gross margin for Q3 2025 was 14%, down from 22% in Q3 2024; excluding restructuring costs, it was 18%[11]