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Retractable Technologies, Inc. reported weaker core operating results for the three and six months ended June 30, 2026. Second-quarter net sales were $7.2 million, down from $10.4 million a year earlier, with an unchanged operating loss of $5.1 million. For the first half of 2026, net sales were $14.4 million versus $18.7 million in 2025 and the operating loss widened to $11.3 million from $9.8 million, driven by lower EasyPoint® needle volumes and higher operating expenses, including donation expense.
Despite operating losses, second-quarter net income was $2.8 million, and the six-month net loss was $(1.4) million, both including a $6.4 million realized gain on the sale of equity securities. Domestic production rose to 42.4% of units manufactured in the first half of 2026 compared to 38% in 2025, and tariff expenses declined to $46 thousand in Q2 as mitigation and increased domestic production took effect. A previously disclosed April 2026 reduction in force is expected to generate future cost savings.
Retractable Technologies, Inc. reported weaker core operating results but a headline profit for the quarter ended June 30, 2026. Quarterly sales were $7.2 million, down from $10.4 million a year earlier, as EasyPoint® needle volumes declined and customer ordering patterns shifted. Gross profit was minimal and the company recorded a loss from operations of $5.1 million, similar to the prior-year quarter and a $11.3 million operating loss for the first half.
Despite this, net income turned positive, driven by non-operating items. A $6.4 million realized gain on investment sales and $1.5 million in TIA income produced Q2 net income of $2.8 million, or $0.09 per diluted share, versus a small loss last year. Cash from operations was an outflow of $3.1 million in the first half, but liquidity is supported by $2.6 million in cash and $37.2 million in debt securities, representing 26.3% of total assets.
Tariffs remain a major headwind: as of August 1, 2026, most syringe and needle imports from China face a combined 112.5% tariff, pressuring margins and sourcing. Management is expanding domestic manufacturing, including adapting equipment for 0.5 mL syringes and has reduced headcount by about 16% to cut annual payroll by roughly $2.2 million. Disclosure controls and procedures were assessed as not effective due to previously reported material weaknesses, though remediation efforts are underway.
Retractable Technologies, Inc. announced that its Board of Directors has declared cash dividends on its Series II Class B and Series III Class B Convertible Preferred Stock. The declared dividends are $39,050.00 for Series II Class B and $18,561.25 for Series III Class B.
These dividends have accrued at a rate of $1.00 per share per annum for the period from April 1, 2026 through June 30, 2026. They will be paid on July 20, 2026 to shareholders of record as of the close of business on July 10, 2026.
Retractable Technologies, Inc. reported weaker results for the quarter ended March 31, 2026. Total net sales were $7.2 million, down from $8.3 million a year earlier, and the company posted an operating loss of $6.2 million versus $4.7 million last year, driven by lower average selling prices and higher donation-related expenses.
Domestic revenues fell 20.0% and now represent a smaller share of total sales, while international revenues rose 42.4%, helped by EasyPoint® needle demand, lifting total unit volume 3.6%. Operating expenses increased 14%, with about $900 thousand tied to non-recurring consulting and charitable product donations.
Net loss for the quarter was $4.2 million. Tariff costs dropped to about $11.6 thousand as 39% of products were produced domestically. In April 2026, the company reduced its workforce by approximately 16%, expecting about $2.2 million in annual wage and benefit savings, offset by roughly $122 thousand in one-time separation payments.
Retractable Technologies, Inc. reported a wider operating loss and negative gross margin for the quarter ended March 31, 2026 as tariffs, higher costs, and donations pressured results. Net sales were $7.2 million, down from $8.3 million a year earlier, with syringes representing 80.8% of revenue.
The company posted a gross loss of $0.8 million and a loss from operations of $6.2 million, compared with a $4.7 million operating loss in 2025. Net loss improved to $4.2 million from $10.5 million, aided by $1.5 million of Technology Investment Agreement income and a $0.2 million unrealized investment gain versus a $7.2 million loss last year.
Cash used in operations was $1.4 million, while $1.7 million was generated from investing activities, largely from net investment sales. The company held $32.9 million of debt and equity securities, or 23.9% of total assets, and $2.8 million of cash. Management expects tariffs of about 110% on many China-sourced syringes and needles to remain a material headwind and implemented a 16% workforce reduction in April 2026, targeting $2.2 million of annual payroll savings.
Retractable Technologies, Inc. reported the results of its Annual Meeting of Shareholders, held as a virtual meeting on May 8, 2026. Shareholders elected three Class 2 directors nominated by the board. Thomas J. Shaw received 20,777,201 votes for and 283,312 withheld, Walter O. Bigby, Jr. received 20,443,325 for and 617,188 withheld, and John W. Fort III received 20,707,800 for and 352,713 withheld, with no abstentions or broker non-votes reported for these items.
Retractable Technologies, Inc. has reduced its workforce by approximately 16%. The company expects this move to save an estimated $2.2 million in annual wages and employment benefits, equal to about 13% of total estimated workforce costs, partly offset by one-time separation payments of roughly $122,000.
About 58% of the targeted payroll reduction is in manufacturing or manufacturing support roles, with the rest in sales and sales support. The company links this restructuring to its ongoing shift toward strengthening domestic production and improving manufacturing efficiency to reduce reliance on Chinese contract manufacturers and mitigate the financial impact of tariffs on imports from China.
Retractable Technologies, Inc. reported 2025 results showing revenue growth but continued operating losses, and announced dividends on its Series II and III Class B preferred stock. Revenues rose 15.8% to about $38.3 million from $33.0 million, driven by higher VanishPoint® and EasyPoint® needle sales, especially internationally where revenue increased 64.0%.
Total operating expenses were $21.2 million, resulting in a 2025 loss from operations of $21.2 million, similar to the prior year. Cash decreased by $1.6 million to $2.6 million at year-end, while the company held $34.4 million in debt and equity securities. Management notes that 62.6% of products came from China and that a 120% tariff rate on many imported syringe and needle products, along with about $1.8 million of tariff expense in 2025, is expected to continue having a material impact.
The board declared dividends of $39,050.00 on Series II Class B and $18,561.25 on Series III Class B Convertible Preferred Stock for the period January 1 through March 31, 2026, at $1.00 per share per year. These dividends will be paid on April 20, 2026 to holders of record on April 10, 2026.
Retractable Technologies, Inc. reported 2025 net sales of $38.3M, up 15.8% from 2024, but still posted a net loss of $12.6M or $0.43 per share. Gross margin barely broke even as heavy tariff costs and manufacturing expenses offset higher volumes.
About 62.6% of products were sourced from China in 2025, and tariffs on Chinese syringes and needles reached a combined rate of roughly 120% by early 2026, materially pressuring results. Tariff expense was about $1.8M in 2025, driving the company to accelerate a shift toward domestic production and adapt equipment for 0.5 mL syringes.
International revenue rose 64.0% with unit volume up 164.7%, helped by EasyPoint needles, though discounted pricing reduced margins. The company also holds $34.4M in marketable securities, or 24.1% of total assets, creating earnings volatility from investment gains and losses. Stockholders’ equity was $74.4M at year-end versus a market capitalization of $23.1M, and management highlighted concern that the share price does not reflect underlying value.
Retractable Technologies, Inc. is asking shareholders to vote at its virtual 2026 annual meeting on May 8, 2026, primarily on the election of three Class 2 directors: Thomas J. Shaw, Walter O. Bigby, Jr., and John W. Fort III, each to serve until the 2028 meeting.
The meeting will be held online at 10:00 a.m. Central time, with voting available by internet, phone, mail, or during the webcast for holders of common stock as of March 9, 2026, when 29,937,159 shares were outstanding. The board recommends voting “For All” director nominees.
Governance details show a six-member classified board with a majority of independent directors and combined Chairman/CEO roles held by founder Thomas J. Shaw. As of March 9, 2026, Mr. Shaw beneficially owned 16,662,822 common shares, or 55.7% of the class, giving him effective control. He also receives a 5% royalty on licensed product sales, totaling $3,154,263 in 2025.
Executive pay is heavily salary-based. In 2025, CEO compensation totaled $1,222,045, General Counsel $410,500, and CFO $309,992. The disclosed pay ratio shows median employee compensation of $37,458 versus CEO pay, a ratio of 1:32.34. Baker Tilly US, LLP has been selected again as independent auditor, with 2025 audit fees of $503,475.