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Mar 31, 2023
Rockwell Medical Q1 2023 Earnings Report
Rockwell Medical achieved fourth consecutive quarter of revenue growth and improved gross profit.
Key Takeaways
Rockwell Medical reported a 22.4% increase in revenue, reaching $19.7 million, and a significant improvement in gross profit, which increased by 425% compared to the same period last year. The company also reduced its operating expenses, leading to a reduced operating loss and net loss. They reiterate 2023 revenue guidance of $78.0 million to $82.0 million and gross profit between $7.0 million and $9.0 million.
Revenue reached a new high of $19.7 million, a 22.4% increase year-over-year.
Gross profit increased by 425% to $2.6 million compared to the same period in 2022.
Operating loss improved to $1.4 million compared to $6.6 million for the same period in 2022.
Net loss improved to $1.75 million, or $0.10 per share, compared to a net loss of $7.2 million, or $0.84 per share for the same period in 2022.
Forward Guidance
Rockwell Medical reiterates its 2023 guidance of revenue between $78.0 million and $82.0 million and gross profit between $7.0 million and $9.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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