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Sep 30, 2023
Rockwell Medical Q3 2023 Earnings Report
Announced third quarter 2023 results and reported becoming the leading supplier of liquid bicarbonate hemodialysis concentrates in the United States.
Key Takeaways
Rockwell Medical announced its Q3 2023 results, highlighting its success in becoming the leading supplier of liquid bicarbonate hemodialysis concentrates in the US and its expectation to be profitable on an adjusted EBITDA basis in Q4 2023. The company also expects net sales for 2023 to be between $82.0 million and $86.0 million, representing a 17% to 18% year-over-year increase, and gross profit to be between $8.0 million and $10.0 million, representing a 95% to 144% year-over-year increase.
Rockwell Medical became the leading supplier of liquid bicarbonate hemodialysis concentrates in the United States.
The company now services approximately one-third of all purchasing facilities, including outpatient dialysis clinics and hospitals.
Rockwell Medical continues to evaluate potential business development opportunities.
Company expects to be profitable on an adjusted EBITDA basis in the fourth quarter of 2023.
Forward Guidance
The Company expects net sales for 2023 to be between $82.0 million and $86.0 million, which represents an increase of 17% to 18% year-over-year. The Company expects gross profit for 2023 to be between $8.0 million and $10.0 million, which represents an increase of 95% to 144% year-over-year. Rockwell Medical now expects to be profitable on an adjusted EBITDA basis in the fourth quarter of 2023.
Positive Outlook
- Net sales for 2023 expected to be between $82.0 million and $86.0 million.
- Net sales represent an increase of 17% to 18% year-over-year.
- Gross profit for 2023 expected to be between $8.0 million and $10.0 million.
- Gross profit represents an increase of 95% to 144% year-over-year.
- Rockwell Medical now expects to be profitable on an adjusted EBITDA basis in the fourth quarter of 2023.
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