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Mar 31, 2024
Rockwell Medical Q1 2024 Earnings Report
Reported record net sales and gross profit, and raised 2024 guidance.
Key Takeaways
Rockwell Medical reported record net sales of $22.7 million for Q1 2024, a 15% increase year-over-year. Gross profit also reached a record $3.1 million, up 18% from the same period last year. The company has raised its full-year 2024 guidance for net sales, gross profit, and adjusted EBITDA.
Net sales increased by 15% year-over-year, reaching $22.7 million.
Gross profit increased by 18% year-over-year, reaching $3.1 million.
The company has revised its guidance for 2024 upward.
Rockwell Medical was certified as a Great Place to Work® for the second year in a row.
Rockwell Medical
Rockwell Medical
Forward Guidance
Rockwell Medical updated its guidance for the full year 2024, projecting net sales between $90.0M and $94.0M, gross profit between $13.0M and $15.0M, and adjusted EBITDA between $0.5M and $1.0M.
Positive Outlook
- Net Sales: $90.0M to $94.0M (13% to 18% increase over 2023)
- Gross Profit: $13.0M to $15.0M (49% to 72% increase over 2023)
- Gross Margin: 4 to 6 percentage point increase over 2023
- Adjusted EBITDA: $0.5M to $1.0M (113% to 126% increase over 2023)
- Net sales to grow in the mid-to-high single digits in 2025 and beyond.