Rockwell Medical acquires Evoqua concentrates, raises guidance, expects Q4 profitability

ROCKWELL MEDICAL, INC.

2023-Q2 EPS reported -$0.27 revenue$37,748,000

Q2 2023 net loss $3.3M ($0.18/sh) vs $5.0M loss ($0.43/sh) in Q2 2022; net sales $18.1M vs $18.7M prior year.
Acquired Evoqua concentrates business for $12.2M; Evoqua generated $18M annual revenue and $3.3M annual EBITDA.
Increased 2023 net sales guidance to $82-86M (from $78-82M) and gross profit guidance to $8-10M (from $7-9M).
Expects to achieve profitability from operations in Q4 2023 and going forward.
Pro forma cash $16.2M after $13.8M warrant exercise and acquisition funding.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

ROCKWELL MEDICAL, INC. updated its the three and six months ended June 30, 2023 guidance (raised).

Period: the three and six months ended June 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On August 14, 2023, Rockwell Medical, Inc. issued a press release and earnings presentation announcing its financial results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001628280-23-029166

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