Rockwell Medical Technologies (RMTI)
NASDAQ:RMTI
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Rockwell Med
(NASDAQ:RMTI)
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Rating:54Neutral
Price Target:
$0.96
▲(2.23% Upside)
Action:ReiteratedDate:03/27/26
The score is driven primarily by mixed financial performance (strong balance sheet but ongoing losses and unstable cash flow). The earnings call adds moderate support due to guidance for positive EBITDA/cash flow and improving margins, but technical weakness and limited valuation support (negative P/E, no dividend) keep the overall score in the mid-range.
Positive Factors
Conservative balance sheet / low leverage
Rockwell's very low leverage and stronger equity base provide durable financial flexibility, reducing refinancing and liquidity risk while supporting continued restructuring and product investment. A conservative balance sheet gives management runway to execute multi-year recovery plans without immediate capital pressure.
Negative Factors
Material year-over-year revenue decline
A 32% revenue drop in one year materially reduces scale and weakens fixed-cost absorption, making margin recovery more challenging. Sustained top-line contraction undermines investment capacity and increases execution risk for the company's multi-year revenue and profitability targets if lost volumes are not recovered or replaced.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Rockwell's very low leverage and stronger equity base provide durable financial flexibility, reducing refinancing and liquidity risk while supporting continued restructuring and product investment. A conservative balance sheet gives management runway to execute multi-year recovery plans without immediate capital pressure.
Read all positive factors
Rockwell Med (RMTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$37.12M
Dividend YieldN/A
Average Volume (3M)257.19K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth-23.60%
EPS Growth-179.33%
CountryUS
Employees244
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.01
Shares Outstanding39,405,300
10 Day Avg. Volume276,211
30 Day Avg. Volume257,189
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)<0.01
Price to Sales (P/S)0.00043
P/FCF Ratio-45.50
Enterprise Value/Market Cap-672.06
Enterprise Value/Revenue-0.36
Enterprise Value/Gross Profit-2.13
Enterprise Value/Ebitda62.10
Forecast
1Y Price Target
$3.25Price Target Upside245.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$75.15M
Rockwell Med Business Overview & Revenue Model
Company Description
Rockwell Medical, Inc., together with its subsidiaries, operates as a biopharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis in th...
How the Company Makes Money
Rockwell Medical makes money primarily by selling dialysis-related products to dialysis clinics and providers. The core revenue stream is the sale of dialysate concentrates (acid and bicarbonate concentrates) and other ancillary dialysis products,...
Rockwell Med Earnings Call Summary
Earnings Call Date:Mar 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Neutral
Balanced/Neutral. The call highlighted meaningful operational improvements — margin expansion, positive adjusted EBITDA, improved Q4 cash flow, customer diversification, new product introduction and long-term targets — that indicate the company is stabilizing and executing on a restructuring plan. However, these positives are tempered by a sizable year-over-year revenue decline (32%), a widened full-year GAAP net loss, reduced adjusted EBITDA compared to 2024, and ongoing dependence on outcomes of negotiations with large customers. Given the mix of strong operational progress but significant top-line challenges and remaining execution/visibility risk, the tone is cautiously constructive but not decisively positive.Positive Updates
Adjusted EBITDA Profitability and Improvement
Company reported positive adjusted EBITDA for Q4 2025 of $1,000,000 (a $900,000 improvement vs Q3 2025) and positive adjusted EBITDA for the full year 2025 of $300,000. Management projects adjusted EBITDA of $1,000,000 to $2,000,000 for 2026.
Negative Updates
Significant Revenue Decline Year-over-Year
Full-year 2025 net sales were $69,300,000, a 32% decrease versus $101,500,000 in 2024. Q4 2025 net sales were $18,300,000, a 26% decline versus Q4 2024. Management attributes the decrease primarily to an expected reduction in purchase volumes from a major customer.
Read all updates
Q4-2025 Updates
Positive
Negative
Adjusted EBITDA Profitability and Improvement
Company reported positive adjusted EBITDA for Q4 2025 of $1,000,000 (a $900,000 improvement vs Q3 2025) and positive adjusted EBITDA for the full year 2025 of $300,000. Management projects adjusted EBITDA of $1,000,000 to $2,000,000 for 2026.
Read all positive updates
Company Guidance
Management guided 2026 adjusted EBITDA of $1.0–$2.0 million and said operating cash flow will be positive, noting ~ $1.0 million of expected net sales from bicarbonate cartridges in 2026 and that pending large-customer negotiations could prompt near-term updates to net sales and gross margin guidance; they reiterated the business is projected to be profitable and generate cash in 2026 (potentially the third consecutive profitable year). Longer-term, management believes by 2029 the company can achieve annual net sales above $100.0 million, gross margins approaching the ~30% range, and annual profitability of $5.0–$10.0 million. These targets are supported by recent results such as Q4 2025 adjusted EBITDA of $1.0 million, Q4 gross margin of 21% (full-year gross margin 17%), full-year 2025 net sales of $69.3 million, year-end cash of $25.0 million, and Q4 operating cash flow of $2.3 million.Rockwell Med Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 69.26B | 101.49M | 83.61M | 72.81M | 61.93M |
| Gross Profit | 11.70B | 17.48M | 8.70M | 4.08M | -2.42M |
| EBITDA | -4.69B | 2.95M | -4.69M | -16.17M | -27.80M |
| Net Income | -5.31B | -480.00K | -8.44M | -18.68M | -32.67M |
Balance Sheet | |||||
| Total Assets | 57.14B | 59.21M | 52.17M | 46.63M | 48.57M |
| Cash, Cash Equivalents and Short-Term Investments | 25.00B | 21.60M | 10.94M | 21.49M | 22.44M |
| Total Debt | 10.58M | 13.54M | 13.44M | 16.36M | 28.89M |
| Total Liabilities | 20.16M | 26.62M | 30.88M | 32.53M | 46.04M |
| Stockholders Equity | 36.98B | 32.59M | 21.29M | 14.11M | 2.54M |
Cash Flow | |||||
| Free Cash Flow | -659.00K | 3.19M | -9.70M | -17.21M | -34.06M |
| Operating Cash Flow | -659.00K | 4.20M | -9.41M | -16.93M | -33.53M |
| Investing Cash Flow | -8.54M | -4.87M | -3.04M | -2.40M | 311.00K |
| Financing Cash Flow | 4.25M | 7.35M | 11.34M | 16.15M | -2.18M |
Rockwell Med Technical Analysis
Negative
0.94
Price Trends
1.01
Negative
0.97
Negative
1.07
Negative
Market Momentum
0.01
Negative
44.99
Neutral
61.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RMTI, the sentiment is Negative. The current price of 0.94 is below the 20-day moving average (MA) of 0.95, below the 50-day MA of 1.01, and below the 200-day MA of 1.07, indicating a bearish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 44.99 is Neutral, neither overbought nor oversold. The STOCH value of 61.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RMTI.
Rockwell Med Risk Analysis
Rockwell Med disclosed 35 risk factors in its most recent earnings report. Rockwell Med reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rockwell Med Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $37.12M | >-0.01 | -16.77% | ― | -23.60% | -179.33% | |
52 Neutral | $48.46M | -10.54 | -10.54% | ― | 12.21% | 69.91% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $125.87M | -1.97 | -29.39% | ― | 9.21% | 58.12% | |
50 Neutral | $37.41M | -3.67 | -19.05% | ― | -65.77% | 38.61% | |
40 Underperform | $182.27M | -0.36 | -2323.94% | ― | ― | 52.39% |
* Healthcare Sector Average
RMTI
Rockwell Med
0.94
-0.26
-21.50%
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Rockwell Med Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Rockwell Med Updates Corporate Presentation for Investors
Neutral
Mar 26, 2026
On March 26, 2026, Rockwell Medical, Inc. released an updated corporate presentation to investors, making the materials publicly available through a regulatory filing. The update reflects the company’s ongoing effort to communicate its busin...
Business Operations and Strategy
Rockwell Medical Extends DaVita Supply Agreement with Price Increase
Positive
Jan 5, 2026
On December 31, 2025, Rockwell Medical, Inc. and DaVita, Inc. entered into a second amendment to their existing products purchase agreement, extending its term by one year to December 31, 2026, effective as of December 23, 2025. The amendment also...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.