Rockwell Medical (RMTI) Investor presentation summary

Business overview and market position

• Develops, manufactures, and distributes hemodialysis products, serving over 12,000 facilities in the U.S. and distributing to 30+ countries worldwide.

• Leading supplier of liquid bicarbonate and one of the largest suppliers of acid and dry bicarbonate concentrates in the U.S.

• U.S. total addressable market for hemodialysis concentrates projected to grow from $450M in 2024 to $560M in 2028, with a 4-6% CAGR.

• Serves approximately 300 customers, including top five dialysis providers and major hospital systems.

Financial performance and highlights

• Net sales for FY 2025 were $69.3M, with Q4'25 net sales at $18.3M.

• Achieved profitability on an adjusted EBITDA basis for the second consecutive year; Q4'25 gross margin reached 21%, one of the strongest in company history.

• Cash flow positive in Q4'25, ending 2025 with $25.0M in cash and $8.8M in total debt.

• Gross margin improved from 6% in 2022 to 17% in 2025.

• Adjusted EBITDA for FY'25 was $0.3M, with net loss of $5.3M.

Strategic achievements and initiatives

• Grew concentrates business by adding new customers and expanding contracts with existing ones.

• Optimized operations through improved processes and expanded automated manufacturing.

• Completed business development initiatives supporting strategic objectives.