- \n
- Achieves profitability on an adjusted EBITDA basis for the full-year 2024, the first time in the Company’s history.<\/i><\/li>\n
- Reports record gross profit for the third year in a row, generating $17.5 million in 2024, a 101% increase over 2023.<\/i><\/li>\n
- Reports record net sales for the third year in a row, generating $101.5 million in 2024, a 21% increase over 2023. Net sales for the fourth quarter of 2024 were $24.7 million, a 12% increase over the same period in 2023.<\/i><\/li>\n<\/ul>\n
WIXOM, Mich.–(BUSINESS WIRE<\/a>)–
\nRockwell Medical, Inc. (the “Company”) (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products to dialysis providers worldwide, today announced financial and operational results for the three months and twelve months ended December 31, 2024.\n<\/p>\n\n“In 2024, we were successful in accomplishing our objectives to achieve profitability for the full-year on an adjusted EBITDA basis, generate over $100 million in net sales, and increase our gross margin,” said Mark <\/a>Strobeck, Ph.D.<\/a>, Rockwell Medical\u2019s President and CEO. “While we expect 2025 to be a year of transition as we navigate changes within our customer base, we remain focused on sustained profitability for the full-year 2025 on an adjusted EBITDA basis. We plan to continue to identify additional business development opportunities to support our strategic objectives, diversify our product portfolio, and further optimize our business through manufacturing improvements.”\n<\/p>\n
FOURTH QUARTER AND FULL-YEAR 2024 FINANCIAL HIGHLIGHTS<\/b><\/p>\n
Net Sales<\/span><\/p>\n
- \n
- \nNet sales for the three months ended December 31, 2024 were $24.7 million, representing a 12% increase over net sales of $22.1 million for the same period in 2023. Net sales for both periods consisted solely of concentrates product sales.\n<\/li>\n
- \nNet sales for the twelve months ended December 31, 2024 were $101.5 million, representing a 21% increase over $83.6 million for the same period in 2023. Net product sales for the twelve months ended December 31, 2024 were $101.4 million, representing a 27% increase over net product sales of $79.8 million for the same period in 2023. The increase was primarily due to customers added through the Evoqua asset acquisition, a special large order of premium-priced product from our largest customer, as well as additional sales and price increases to existing customers. Net sales of non-product revenue were not material in 2024 compared to $3.8 million in 2023, which was the result of deferred license revenue recognition related to the terminations of the Wanbang agreement and Baxter distribution agreement.\n<\/li>\n<\/ul>\n
Gross Profit<\/span><\/p>\n
- \n
- \nGross profit for the three months ended December 31, 2024 was $3.6 million, representing a 27% increase over $2.9 million for the same period in 2023.\n<\/li>\n
- \nGross profit for the twelve months ended December 31, 2024 was $17.5 million, representing a 101% increase over $8.7 million for the same period in 2023.\n<\/li>\n<\/ul>\n
Gross Margin<\/span><\/p>\n
- \n
- \nGross margin for the three months ended December 31, 2024 was 15%, representing an increase from 13% for the same period in 2023.\n<\/li>\n
- \nGross margin for the twelve months ended December 31, 2024 was 17%, representing an improvement over 10% gross margin for the same period in 2023.\n<\/li>\n<\/ul>\n
Net Loss<\/span><\/p>\n
- \n
- \nNet loss for the three months ended December 31, 2024 was $0.8 million, representing a 50% improvement over a net loss of $1.5 million for the same period in 2023.\n<\/li>\n
- \nNet loss for the twelve months ended December 31, 2024 was $0.5 million, representing a 94% improvement over net loss of $8.4 million for the same period in 2023.\n<\/li>\n<\/ul>\n
Adjusted EBITDA<\/span><\/p>\n
- \n
- \nAdjusted EBITDA for the three months ended December 31, 2024 was $1.4 million, representing a 156% improvement over $0.5 million for the same period in 2023.\n<\/li>\n
- \nAdjusted EBITDA for the twelve months ended December 31, 2024 was $5.2 million, representing a 232% improvement over ($3.9) million for the same period in 2023.\n<\/li>\n<\/ul>\n
Cash and Cash Equivalents<\/span><\/p>\n
- \n
- \nCash and cash equivalents and investments available-for-sale at December 31, 2024 increased to $21.6 million compared to cash and cash equivalents and investments available-for-sale of $18.3 million at September 30, 2024.\n<\/li>\n<\/ul>\n
- Reports record gross profit for the third year in a row, generating $17.5 million in 2024, a 101% increase over 2023.<\/i><\/li>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250320494026\/en\/2415204\/3\/Rockwell_Medical_-_logo_-_BusinessWire.jpg\"){kind=logo}
<\/td>\n<\/tr>\n