Rockwell Medical Q4 2022 Earnings Report
Key Takeaways
Rockwell Medical reported a 26.0% increase in revenue for the fourth quarter of 2022, reaching $19.3 million, and a net loss of $2.4 million, or $0.20 per share. The company's cash used in operating activities decreased significantly to $594,000. They exceeded annual revenue guidance generating $72.8 million in 2022.
Revenue increased by 26.0% to $19.3 million compared to the same period in 2021.
Net loss improved to $2.4 million, or $0.20 per share, compared to a net loss of $8.9 million, or $1.05 per share, in the same period of 2021.
Cash used in operating activities decreased to $594,000 from $9.0 million in the same period of 2021.
Debt reduced to $10.0 million at December 31, 2022, from $21.6 million at December 31, 2021.
Rockwell Medical
Rockwell Medical
Forward Guidance
Rockwell projects its 2023 net sales to be between $78.0 Million and $82.0 Million, and gross profit to be between $7.0 Million and $9.0 Million.
Positive Outlook
- Continue to focus on growing our hemodialysis concentrates business
- Enhancing the economics within our current customer agreements
- Adding new long-term supply agreements with new customers
- Continuing to reduce expenses
- Lowering our debt
- Driving our business to profitability