Retractable Technologies(RVP) - 2024 Q1 - Quarterly Report

Sales Performance - In the first three months of 2024, syringes comprised 84.0% of total sales, with EasyPoint® products accounting for 9.2% and other products at 6.8%[89]. - Domestic sales represented 87.4% of revenues for Q1 2024, a significant increase from 49.3% in Q1 2023, with domestic revenues rising by 22.5%[104]. - International revenues decreased approximately 82.8% due to fewer international vaccination-related sales, leading to an overall unit sales decrease of 48.2%[104]. Financial Performance - The loss from operations was nearly $3.0 million for Q1 2024, compared to a loss of $2.7 million in the same period last year[106]. - Cash flow used by operations was $2.0 million for Q1 2024, influenced by a $1.5 million recognition of other income from the Technology Investment Agreement (TIA)[110]. - As of March 31, 2024, the company held $36.6 million in debt and equity securities, representing 20.8% of total assets[96]. - The unrealized gain on debt and equity securities was $1.7 million due to increased market values[106]. - Royalty expense decreased by 15.6% due to a decrease in gross sales, while operating expenses decreased by 12.9% from the prior year[105]. - The provision for income taxes was $86 thousand for Q1 2024, down from $231 thousand in Q1 2023[107]. - The company estimates total potential future credits to be issued as a result of prior purchases not yet claimed at $1.6 million as of March 31, 2024[119].