Rockwell Medical Stock Earnings Reports

Rockwell Medical reported Q1 2026 results with net sales of $17.3M (down 8% YoY but above company expectations) and gross profit of $2.9M (flat YoY) as gross margin improved to 17% from 15% a year ago. The company reiterated that it has become the primary U.S. supplier of liquid bicarbonate, serves ~300 customers (over 1,400 facilities) including the five largest U.S. dialysis providers, and sells into 30+ international markets where distributor-led sales yield higher margins. Management is implementing operational changes — notably activating two automated liquid lines this quarter (expected to boost output ~50% and materially lower manufacturing cost per bottle) and price adjustments — that they estimate will generate an incremental ~$3M of gross profit (about half realizable in 2026). Updated 2026 guidance: net sales $70–75M, gross margin 18–22%, adjusted EBITDA $1–2M, positive operating cash flow, and a goal of positive net income in H2 2026. Q1 adjusted EBITDA was -$0.3M (improved from -$0.4M Y/Y) and cash/investments were $23.9M at 3/31/26 (down ~$1.1M vs. YE, including a $0.5M Evoqua payment). Management emphasized customer diversification, improving pricing and mix, continued DaVita business, and a multi-year plan targeting >$100M revenue and 25–30%+ gross margins by 2029 with annual profitability between $5M–$10M.