Rockwell Medical Announces First Quarter 2026 Results and Additional 2026 Guidance with Focus on Profitability
Key Terms
hemodialysis medical
gross margin financial
adjusted ebitda financial
adjusted eps financial
non-gaap financial measures financial
gaap financial
-
Reports
$17.3 million $2.9 million 17% gross margin in the first quarter 2026. -
Announces operational changes that are expected to generate more than
$3 million - 2026 guidance reflects the Company's emphasis on growth, improved gross margin, and generating positive cash flow.
Rockwell Medical's Profitability Trend (2021-2026)
"Our financial and operational performance in the first quarter 2026 builds on the positive trajectory we have established across our key financial metrics, which we expect to continue throughout the remainder of the year," said Mark Strobeck, Ph.D., Rockwell Medical’s President and CEO. "By streamlining our operations, we are on track to generate meaningful cost savings that we believe will support sustained profitability. Our 2026 guidance is centered around strengthening revenue, expanding gross margin, and generating positive Adjusted EBITDA and cash flow."
FIRST QUARTER 2026 FINANCIAL HIGHLIGHTS
-
Net sales for the three months ended March 31, 2026 were
$17.3 million 8% decrease over net sales of$18.9 million -
Gross profit for the three months ended March 31, 2026 was
$2.9 million -
Gross margin for the three months ended March 31, 2026 was
17% , representing a slight improvement over gross margin of16% for the same period in 2025. -
Net loss for the three months ended March 31, 2026 was
$1.6 million $1.5 million -
Adjusted EBITDA for the three months ended March 31, 2026 was
( , an improvement over Adjusted EBITDA of$0.3) million ( for the same period in 2025.$0.4) million -
Cash and cash equivalents and investments available-for-sale at March 31, 2026 was
$23.9 million $25.0 million $1.1 million $500,000
|
Three Months Ended
|
||||||
(In Millions, Except Per Share Amounts) |
2026 |
|
2025(a) |
||||
Net Sales |
$ |
17.3 |
|
|
$ |
18.9 |
|
|
|
|
|
||||
Gross Profit |
|
2.9 |
|
|
|
3.0 |
|
|
|
|
|
||||
Operating Income (Loss) |
|
(1.5 |
) |
|
|
(1.4 |
) |
|
|
|
|
||||
Net Income (Loss) |
|
(1.6 |
) |
|
|
(1.5 |
) |
|
|
|
|
||||
Adjusted EBITDA(c) |
|
(0.3 |
) |
|
|
(0.4 |
) |
|
|
|
|
||||
Basic and Diluted Net Loss per Share(b) |
$ |
(0.04 |
) |
|
$ |
(0.04 |
) |
Adjusted EPS(c) |
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
(a) |
Three months ended March 31, 2025 includes |
(b) |
See Note 3 for more details related to Basic and Diluted Weighted Average Shares Outstanding on Form 10-Q filed May 7, 2026. |
(c) |
See reconciliation to GAAP financial measures in the tables below. |
2026 GUIDANCE
In 2026, Rockwell Medical continues to focus on growing revenue, improving operational efficiencies, and achieving sustained profitability. The Company is implementing pricing adjustments to better align product value with market dynamics, which are expected to generate more than
Rockwell Medical updates its 2026 annual guidance as follows:
|
2026 Annual Guidance |
Net Sales |
|
Gross Margin |
|
Adjusted EBITDA |
|
Operating Cash Flow |
Positive |
WEBCAST DETAILS
Date: Thursday, May 7, 2026
Time: 8:00am ET
Webcast and Replay: www.RockwellMed.com/Results
Speakers:
- Mark Strobeck, Ph.D. — President and Chief Executive Officer
- Jesse Neri — SVP, Chief Financial Officer
Format: Discussion of first quarter 2026 financial and operational results followed by Q&A.
NON-GAAP FINANCIAL MEASURES
To supplement Rockwell Medical’s unaudited condensed consolidated statements of operations and unaudited condensed consolidated balance sheets, which are prepared in conformity with generally accepted accounting principles in
Adjusted EBITDA and Adjusted EPS are key measures used by Rockwell Medical to understand and evaluate operating performance and trends, to prepare and approve its annual budget and to develop short- and long-term operating plans. The Company provides Adjusted EBITDA because it believes the metric is helpful in highlighting trends in its operating results because it excludes items that are not indicative of Rockwell Medical’s core operating performance. In particular, the Company believes that the exclusion of the items eliminated in calculating Adjusted EBITDA provides useful measures for period-to-period comparisons of Rockwell Medical’s business. This is also true for Adjusted EPS, which is derived from Adjusted EBITDA.
Adjusted EBITDA and Adjusted EPS should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. Other companies, including companies in the same industry, may calculate similarly titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Adjusted EBITDA and Adjusted EPS as tools for comparison. There are a number of limitations related to the use of these non-GAAP financial measures rather than the most directly comparable financial measure calculated in accordance with GAAP. When evaluating the Company’s performance, you should consider Adjusted EBITDA and Adjusted EPS alongside other financial performance measures, including net loss, EPS and other GAAP results.
ABOUT ROCKWELL MEDICAL
Rockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Rockwell Medical's mission is to provide dialysis clinics and the patients they serve with the highest quality products supported by the best customer service in the industry. Rockwell is focused on innovative, long-term growth strategies that enhance its products, its processes, and its people, enabling the Company to deliver exceptional value to the healthcare system and provide a positive impact on the lives of hemodialysis patients. Hemodialysis is the most common form of end-stage kidney disease treatment and is typically performed in freestanding outpatient dialysis centers, hospital-based outpatient centers, skilled nursing facilities, or a patient’s home. Rockwell Medical's products are vital to vulnerable patients with end-stage kidney disease, and the Company is relentless in providing unmatched reliability and customer service. Certified as a Great Place to Work® four years in a row (2023-2026) and named Fortune Best Workplaces in Manufacturing & Production™ in 2024 and 2025, Rockwell Medical is Driven to Deliver Life-Sustaining Dialysis Solutions™. For more information, visit www.rockwellmed.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as, "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "can," "would," "develop," "plan," "potential," "predict," "forecast," "project," "intend," "look forward to," "remain confident," “remain steadfast,” “guidance,” “working to,” “goal” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. Such statements include without limitation statements relating to: our financial guidance, including projections regarding net sales, gross margin, Adjusted EBITDA and operating cash flow; and our expectations regarding the outcome of further streamlining and enhancing operational efficiencies and distribution footprint initiatives; the results of anticipated pricing adjustments; and net sales anticipated from onboarding new customers. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell Medical's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include but are not limited to those risks more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2025, as such description may be amended or updated in any subsequent reports filed with the SEC. Rockwell Medical expressly disclaims any obligation to update our forward-looking statements, except as may be required by law.
Financial Tables Follow
| ROCKWELL MEDICAL, INC. AND SUBSIDIARIES | |||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
| (Dollars In Thousands) | |||||
March 31, |
|
March 31, |
|||
2026 |
|
2025 |
|||
| Cash, Cash Equivalents & Investments available-for-sale | $ |
23,890 |
$ |
17,331 |
|
| Total Assets | $ |
57,423 |
$ |
53,961 |
|
| Total Liabilities | $ |
21,566 |
$ |
22,439 |
|
| Total Stockholders’ Equity | $ |
35,857 |
$ |
31,522 |
|
| Common Stock Outstanding |
|
39,470,299 |
|
34,257,903 |
|
| Common stock and common stock equivalents* |
|
49,850,163 |
|
41,902,125 |
|
| *Common stock and common stock equivalents: | |||||
| Common stock |
|
39,470,299 |
|
34,257,903 |
|
| Options to purchase common stock |
|
3,200,049 |
|
1,884,476 |
|
| Restricted stock awards |
|
- |
|
891 |
|
| Restricted stock units |
|
1,073,330 |
|
383,326 |
|
| Preferred stock converted |
|
1,405,001 |
|
1,391,045 |
|
| Restricted stock units - Market Condition |
|
717,000 |
|
- |
|
| Common stock warrants |
|
3,984,484 |
|
3,984,484 |
|
| Total common stock and common stock equivalents |
|
49,850,163 |
|
41,902,125 |
|
| ROCKWELL MEDICAL, INC. AND SUBSIDIARIES | ||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS | ||||||||
| (In Thousands, Except Shares and Per Share Amounts) | ||||||||
Three Months Ended March 31, 2026 |
|
Three Months Ended March 31, 2025 |
||||||
| Net Sales | $ |
17,336 |
|
$ |
18,914 |
|
||
| Cost of Sales |
|
14,439 |
|
|
15,872 |
|
||
| Gross Profit |
|
2,897 |
|
|
3,042 |
|
||
| Selling and Marketing |
|
567 |
|
|
711 |
|
||
| General and Administrative |
|
3,810 |
|
|
3,691 |
|
||
| Operating Income (Loss) |
|
(1,480 |
) |
|
(1,360 |
) |
||
| Other (Expense) Income | ||||||||
| Realized Gain on Investments |
|
120 |
|
|
56 |
|
||
| Interest Expense |
|
(282 |
) |
|
(277 |
) |
||
| Interest Income |
|
37 |
|
|
66 |
|
||
| Total Other Expense |
|
(125 |
) |
|
(155 |
) |
||
| Net Income (Loss) | $ |
(1,605 |
) |
$ |
(1,515 |
) |
||
| Basic and Diluted Net Loss per Share | $ |
(0.04 |
) |
$ |
(0.04 |
) |
||
| Basic and Diluted Weighted Average Shares Outstanding |
|
39,418,302 |
|
|
34,107,640 |
|
||
| Reconciliation to GAAP Financial Measures | ||||||||
| (In Thousands, Except Shares and Per Share Amounts) | ||||||||
Three Months Ended |
||||||||
March 31 |
||||||||
2026 |
|
2025 |
||||||
| Net Income (Loss) | $ |
(1,605 |
) |
$ |
(1,515 |
) |
||
| Income taxes |
|
- |
|
|
- |
|
||
| Other Expense, net |
|
125 |
|
|
155 |
|
||
| Depreciation and amortization |
|
508 |
|
|
537 |
|
||
| EBITDA |
|
(972 |
) |
|
(823 |
) |
||
| Severance costs |
|
21 |
|
|
48 |
|
||
| Stock-based compensation |
|
480 |
|
|
445 |
|
||
| Facility transition |
|
178 |
|
|
39 |
|
||
| Deferred license revenue |
|
- |
|
|
(325 |
) |
||
| Triferic inventory write-off |
|
- |
|
|
178 |
|
||
| Adjusted EBITDA | $ |
(294 |
) |
$ |
(439 |
) |
||
| Adjusted EPS | $ |
(0.01 |
) |
$ |
(0.01 |
) |
||
| Basic Weighted Average Shares Outstanding |
|
39,418,302 |
|
|
34,107,640 |
|
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260507118333/en/
Heather R. Hunter
(248) 432-1362
IR@RockwellMed.com
Source: Rockwell Medical