The following is a summary of the Rockwell Medical, Inc. (RMTI) Q1 2024 Earnings Call Transcript:
Financial Performance:
Rockwell Medical reported Q1 2024 net sales of $22.7 million, a record for quarterly concentrate product revenue, representing a 15% increase over Q1 2023 results.
Gross profit for Q1 2024 was $3.1 million, an 18% increase over the same period in 2023.
The company revised its guidance for 2024, now expecting net sales for 2024 between $90 million and $94 million, and a gross profit between $13 million and $15 million.
Business Progress:
After the Evoqua's hemodialysis concentrates business acquisition, Rockwell Medical adjusted its product pricing and saw an increase in customer interest from various health systems and dialysis centers both nationally and internationally.
They have also secured several expanded agreements both domestically and internationally and expect to achieve a gross margin of 20% by 2025 and beyond 25% by 2026.
More details: Rockwell Medical IR
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