Rockwell Medical posts record Q3 revenue of $18.7M; cuts debt to $10M; targets 2024 profitability

ROCKWELL MEDICAL, INC.

Q3 revenue $18.7M (+16.9% YoY), highest quarterly revenue; FY2022 guidance $65-70M.
Cash used in ops $1.1M (down 81% QoQ); cash balance $27.6M, adjusted $22.6M after debt prepayment.
Reduced long-term debt from $15M to $10M via $5M prepayment; 10-month interest-only period starts Dec 2022.
Reacquired distribution rights from Baxter, adding 700+ hemodialysis customers; targets $100M annual revenue.
Discontinued US NDAs for TRIFERIC (saves $2-3M/yr); paused FPC Home Infusion; workforce reductions.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ROCKWELL MEDICAL, INC. reported third quarter ended September 30, 2022 results: revenue $18.7 million.

Period: third quarter ended September 30, 2022
Revenue: $18.7 million
Result: reported results

Exact text from the filing

Revenue for the three months ended September 30, 2022 was $18.7 million

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Source: SEC EDGAR

accession 0001628280-22-029592

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