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Sep 30, 2022
Rockwell Medical Q3 2022 Earnings Report
Announced third quarter 2022 financial and operational results and provided business strategy update.
Key Takeaways
Rockwell Medical reported revenue of $18.7 million for the third quarter of 2022, the highest quarterly revenue to date, and reduced cash used in operating activities by 81% compared to the previous quarter. The company is restructuring its business to focus on revenue-generating businesses and expects to achieve profitability in 2024.
Revenue for Q3 2022 was $18.7 million, the highest quarterly revenue to date.
Cash used in operating activities decreased by 81% to $1.1 million for Q3 2022.
Long-term debt was reduced from $15 million to $10 million.
The company expects to achieve profitability in 2024.
Rockwell Medical
Rockwell Medical
Forward Guidance
Rockwell Medical projects total annual revenue for 2022 to be between $65 million and $70 million, representing up to a 13% increase over 2021.