Thu, May 15, 6:06 PM (34 days ago)
**Retractable Technologies, Inc. (RVP) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $8,295,173 (up from $7,599,363 in Q1 2024) - **Net Loss:** $10,500,716 (compared to a net income of $429,384 in Q1 2024) - **Gross Profit:** Negative $1,911 (down from $1,900,929 in Q1 2024) - **Operating Expenses:** $4,674,841 (down from $4,887,066 in Q1 2024) - **Cash Flow from Operations:** Negative $1,475,185 (improved from negative $2,022,407 in Q1 2024) **Key Metrics & Trends:** - **Domestic Sales:** 89.6% of total revenues (up from 87.4% in Q1 2024) - **International Sales:** Consistent, but with a decline in average selling price due to product mix - **Tariffs:** $1.5 million spent on tariffs in Q1 2025, impacting cost of manufactured products - **Workforce Reduction:** 7% reduction in April 2025 to save $1.6 million annually - **Domestic Manufacturing:** Increased to reduce tariff impact, but led to a $3.8 million increase in compensation and benefits **Uncertainties & Future Operations:** - **Tariffs:** Expected to continue impacting costs, with efforts to increase domestic production - **Liquidity:** Adequate for short-term needs, but expected to decline in the next 1-3 years - **Capital Resources:** $1 million spent on equipment conversion, with more expected in Q2 2025 - **Internal Controls:** Material weaknesses identified, with remediation efforts underway **Impact on Future Operations:** - Increased domestic production and workforce to mitigate tariff impacts - Expected decline in liquidity, with plans to use cash reserves and investments - Ongoing efforts to remediate internal control weaknesses - Continued focus on managing costs and improving operational efficiencies