Core Insights - Retractable Technologies, Inc. reported total net sales of $10.1 million for Q3 2025, a slight decrease from $10.3 million in Q3 2024, while operating losses improved from $5.1 million to $3.7 million [1][10] - For the first nine months of 2025, net sales reached $28.8 million, up from $24.0 million in the same period of 2024, with operating losses decreasing from $13.9 million to $13.5 million [1][15] Financial Performance - The company experienced a net income of $371 thousand for Q3 2025, influenced by unrealized gains of $2.4 million on third-party debt and equity investments [3] - The net loss for the first nine months of 2025 was $10.2 million, which included unrealized losses of $3.2 million in third-party debt and equity investments [3][15] - Domestic sales accounted for 91.1% of total revenues in Q3 2025, with a decrease in domestic revenues by 4.6% and a 20.4% drop in domestic unit sales [5] Tariff Impact - Tariffs on needles and syringes imported from China were at 130% as of September 30, 2025, significantly impacting financial results, with the company spending $2.3 million on tariffs in the first nine months of 2025 [2][14] - The company has shifted production to its U.S. facility, with 38.3% of products manufactured domestically in the first nine months of 2025, compared to 10% in the same period of 2024 [2] Sales and Product Mix - International revenues increased by 25% in Q3 2025 compared to the same period in 2024, although the average international selling price per unit declined due to a shift in product mix [6][13] - Overall unit sales decreased by 12.4% in Q3 2025, while the cost of manufactured products decreased by 20.1%, reflecting a favorable shift in product mix towards higher-margin products [7][10] Operating Expenses - Operating expenses increased by 4.3% primarily due to product donations and higher bad debt expenses [9] - The loss from operations improved to $3.7 million in Q3 2025 from $5.1 million in Q3 2024, driven by higher gross margins and lower tariff costs [10]