On this page of StockholderLetter.com we present the latest annual shareholder letter from ROCKWELL MEDICAL, INC. — ticker symbol RMTI. Reading current and past RMTI letters to shareholders can bring important insights into the investment thesis.
012340567570809


234567  95 569  
96 2 45469  37  
6   3 6     4994 3  

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zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  qbn  nx  gmddhp  h}hcdkifmcb}}~  h  hk~  zfdhkbcdm  h    bdb  m}h  kh  xmkhp  di    h  nx  gmddhp  oxknxbfd  di  |x}h          
ij  |hlx}bdmif  v      _        {        ij  dqmn  cqbodhkr  pxkmfl  dqh  okhchpmfl        gifdqn  _ik  jik  nxcq  nqikdhk  ohkmip  dqbd  dqh  khlmndkbfd    bn  kh  xmkhp  di  nx  gmd  nxcq  jm}hnr{  
  hn       i      
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bf  hghklmfl  lki  dq  cigobf~{  vhh  dqh  phjmfmdmifn  ij    }bklh  bcch}hkbdhp  jm}hk        bcch}hkbdhp  jm}hk        ngb}}hk  khoikdmfl  cigobf~      bfp    hghklmfl  lki  dq  
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fh    ik  kh  mnhp  jmfbfcmb}  bccixfdmfl  ndbfpbkpn  oki  mphp  oxknxbfd  di  vhcdmif      _br  ij  dqh    acqbflh    cd{      
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mnnxhp  mdn  bxpmd  khoikd{        
zj  nhcxkmdmhn  bkh  khlmndhkhp  oxknxbfd  di  vhcdmif      _  r  ij  dqh    cd    mfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  jmfbfcmb}  ndbdhghfdn  ij  dqh  khlmndkbfd  mfc}xphp  mf  
dqh  jm}mfl  khj}hcd  dqh  cikkhcdmif  ij  bf  hkkik  di  okh  mixn}~  mnnxhp  jmfbfcmb}  ndbdhghfdn{  V  
zfpmcbdh    ~  cqhc    gbk      qhdqhk  bf~  ij  dqinh  hkkik  cikkhcdmifn  bkh  khndbdhghfdn  dqbd  kh  xmkhp  b  khci  hk~  bfb}~nmn  ij  mfchfdm  h    bnhp  cigohfnbdmif  
khchm  hp    ~  bf~  ij  dqh  khlmndkbfd  n  hahcxdm  h  ijjmchkn  pxkmfl  dqh  kh}h  bfd  khci  hk~  ohkmip  oxknxbfd  di          {          _  r{  V  
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  mn  b  nqh}}  cigobf~  _bn  phjmfhp  mf  |x}h              ij  dqh    acqbflh    cdr{    hn         i       
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_cigoxdhp    ~  khjhkhfch  di  dqh  c}inmfl  nb}hn  okmch  ij  dqh  khlmndkbfd  n  iggif  vdic    bn  khoikdhp  if    qh   bnpb    bomdb}    bk  hd  if  nxcq  pbdhr    bn                        {  
 xg  hk  ij  nqbkhn  ixdndbfpmfl  ij  dqh  khlmndkbfd  n  iggif  vdic      obk    b}xh      {            bn  ij    bkcq                                              nqbkhn{  
  MXQ/        M ,W ,  /P  RO  U/L/,/ M/

12345267  29  4   3 574364 7   956545   132     44  64   345656  42  4          66      456  29   42  2  37    5   4   ! 574364  5646 7  42  95   
  37 64  42  !   4526  "#   54  4      35457  6   $   6   %2  577526  624   43  4 6  "      7  943  4   ! 574364 7  957      3  6    &   '3  ("      #   
3   356  56 23 234   '   3936   56  134  )))  29  457   66    !  234  26  *23   " +,-


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      9   : ;'-  7*)(  /!;    
      "   < !   0'1  5  = (-)  *     
23456  89   6    
   2     



   2      

0 >(    <'
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      11   @K (  .   2) 8 ! ' )!   
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      19   2 * '!  $ -' )! C8   '!/  $ -'  /  N*'! '( )! B  '!/  =* ( )*   !/ 8 !/ !(    
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      1>   @KC6  B  &!'!('-  0 '    !   0(C / -     
      1D   &)*   1IPQ  0   '*5   
0 LR#N,$@0  

1  


1+  
34  
34  
93  
93  
93  
99  
99  
99  
94  
94  
94  
"I  
"1  
"1  
"3  
"3  
"3  
"3  
"3  
"9  
"D
 • shareholder letter icon 4/14/2025 Letter Continued (Full PDF)
 • stockholder letter icon 4/17/2023 RMTI Stockholder Letter
 • stockholder letter icon 4/15/2024 RMTI Stockholder Letter
 • stockholder letter icon More "Medical Instruments & Supplies" Category Stockholder Letters
 • Benford's Law Stocks icon RMTI Benford's Law Stock Score = 92


RMTI Shareholder/Stockholder Letter Transcript:

012340567570809





234567  95 569  
96 2 45469  37  
6   3 6     4994 3  

*+ ,-  . /0  
1  233425  789:7;  947<423;  ;:  <8=;>:3  ?@  :7  ?ABCD  :E  ;F8  <8=47>;>8<  8G=F23H8  
2=;  :E  ?I@J  
K ,    /  L  M N  O/ ,  / P/P   /M/QR/,  ST   !#    
.U  
V  ;723<>;>:3  789:7;  947<423;  ;:  <8=;>:3  ?@  :7  ?ABCD  :E  ;F8  <8=47>;>8<  8G=F23H8  2=;  :E  
?I@J  
K ,    /   ,          W/,  P  L, Q                                                                                        
  QQ        L N/   XQR/,  !!!YSZZT  
 _`abc)[6\\  
 674 \]  43 ^  
d  fbgh  ij  khlmndkbfd  bn  nohcmjmhp  mf  mdn  cqbkdhkr  
 /N s ,/  
StYSSTu!t  
_vdbdh  ik  idqhk  wxkmnpmcdmif  ij  
_z{|{v{    go}i~hk  
mfcikoikbdmif  ik  iklbfmybdmifr  
zphfdmjmcbdmif   i{r  
S!T#            Q  U  P        Q   + M       
#tS$S  
_  ppkhnn  ij  okmfcmob}  hahcxdm  h  ijjmchnr  
_  mo  iphr  
*#t0  $Z!  $!!$  
_|hlmndkbfd  n  dh}hoqifh  fxg  hk    mfc}xpmfl  bkhb  ciphr  
vhcxkmdmhn  khlmndhkhp  oxknxbfd  di  vhcdmif      _  r  ij  dqh    cd    
     OQR N* 0           Q/   L  / M   /  M    /      s  M   ,/    /,/P    
    N/   L     M    N       
     , P  |    z
iggif  vdic      obk    b}xh    {          
 bnpb    bomdb}    bk  hd  

vhcxkmdmhn  khlmndhkhp  oxknxbfd  di  vhcdmif      _lr  ij  dqh    cd    
*    /0  
zfpmcbdh    ~  cqhc    gbk    mj  dqh  khlmndkbfd  mn  b    h}}    fi  f  nhbnifhp  mnnxhk    bn  phjmfhp  mf  |x}h          ij  dqh  vhcxkmdmhn    cd{    hn         i    
zfpmcbdh    ~  cqhc    gbk    mj  dqh  khlmndkbfd  mn  fid  kh  xmkhp  di  jm}h  khoikdn  oxknxbfd  di  vhcdmif        ik  vhcdmif      _pr  ij  dqh    cd{    hn         i    
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  _  r  qbn  jm}hp  b}}  khoikdn  kh  xmkhp  di    h  jm}hp    ~  vhcdmif        ik      _pr  ij  dqh  vhcxkmdmhn    acqbflh    cd  ij  
          pxkmfl  dqh  okhchpmfl        gifdqn  _ik  jik  nxcq  nqikdhk  ohkmip  dqbd  dqh  khlmndkbfd    bn  kh  xmkhp  di  jm}h  nxcq  khoikdnr    bfp  _  r  qbn    hhf  nx  whcd  di  nxcq  jm}mfl  
kh  xmkhghfdn  jik  dqh  obnd        pb~n{    hn       i      
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  qbn  nx  gmddhp  h}hcdkifmcb}}~  h  hk~  zfdhkbcdm  h    bdb  m}h  kh  xmkhp  di    h  nx  gmddhp  oxknxbfd  di  |x}h          
ij  |hlx}bdmif  v      _        {        ij  dqmn  cqbodhkr  pxkmfl  dqh  okhchpmfl        gifdqn  _ik  jik  nxcq  nqikdhk  ohkmip  dqbd  dqh  khlmndkbfd    bn  kh  xmkhp  di  nx  gmd  nxcq  jm}hnr{  
  hn       i      
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  mn  b  }bklh  bcch}hkbdhp  jm}hk    bf  bcch}hkbdhp  jm}hk    b  fif  bcch}hkbdhp  jm}hk    b  ngb}}hk  khoikdmfl  cigobf~    ik  
bf  hghklmfl  lki  dq  cigobf~{  vhh  dqh  phjmfmdmifn  ij    }bklh  bcch}hkbdhp  jm}hk        bcch}hkbdhp  jm}hk        ngb}}hk  khoikdmfl  cigobf~      bfp    hghklmfl  lki  dq  
cigobf~    mf  |x}h              ij  dqh    acqbflh    cd    
  bklh  bcch}hkbdhp  jm}hk          cch}hkbdhp  jm}hk         if  bcch}hkbdhp  jm}hk      vgb}}hk  khoikdmfl  cigobf~      `ghklmfl  lki  dq  cigobf~        
zj  bf  hghklmfl  lki  dq  cigobf~    mfpmcbdh    ~  cqhc    gbk    mj  dqh  khlmndkbfd  qbn  h}hcdhp  fid  di  xnh  dqh  hadhfphp  dkbfnmdmif  ohkmip  jik  cigo}~mfl    mdq  bf~  
fh    ik  kh  mnhp  jmfbfcmb}  bccixfdmfl  ndbfpbkpn  oki  mphp  oxknxbfd  di  vhcdmif      _br  ij  dqh    acqbflh    cd{      
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  qbn  jm}hp  b  khoikd  if  bfp  bddhndbdmif  di  mdn  gbfblhghfd  n  bnnhnnghfd  ij  dqh  hjjhcdm  hfhnn  ij  mdn  mfdhkfb}  
cifdki}  i  hk  jmfbfcmb}  khoikdmfl  xfphk  vhcdmif        _  r  ij  dqh  vbk  bfhn    a}h~    cd  _        {v{{          _  rr    ~  dqh  khlmndhkhp  ox  }mc  bccixfdmfl  jmkg  dqbd  okhobkhp  ik  
mnnxhp  mdn  bxpmd  khoikd{        
zj  nhcxkmdmhn  bkh  khlmndhkhp  oxknxbfd  di  vhcdmif      _  r  ij  dqh    cd    mfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  jmfbfcmb}  ndbdhghfdn  ij  dqh  khlmndkbfd  mfc}xphp  mf  
dqh  jm}mfl  khj}hcd  dqh  cikkhcdmif  ij  bf  hkkik  di  okh  mixn}~  mnnxhp  jmfbfcmb}  ndbdhghfdn{  V  
zfpmcbdh    ~  cqhc    gbk      qhdqhk  bf~  ij  dqinh  hkkik  cikkhcdmifn  bkh  khndbdhghfdn  dqbd  kh  xmkhp  b  khci  hk~  bfb}~nmn  ij  mfchfdm  h    bnhp  cigohfnbdmif  
khchm  hp    ~  bf~  ij  dqh  khlmndkbfd  n  hahcxdm  h  ijjmchkn  pxkmfl  dqh  kh}h  bfd  khci  hk~  ohkmip  oxknxbfd  di          {          _  r{  V  
zfpmcbdh    ~  cqhc    gbk      qhdqhk  dqh  khlmndkbfd  mn  b  nqh}}  cigobf~  _bn  phjmfhp  mf  |x}h              ij  dqh    acqbflh    cdr{    hn         i       
  qh  bllkhlbdh  gbk  hd    b}xh  ij  dqh  khlmndkbfd  n    idmfl  bfp  fif    idmfl  ciggif  h  xmd~  qh}p    ~  fif  bjjm}mbdhn  ij  dqh  khlmndkbfd  if    xfh                    
_cigoxdhp    ~  khjhkhfch  di  dqh  c}inmfl  nb}hn  okmch  ij  dqh  khlmndkbfd  n  iggif  vdic    bn  khoikdhp  if    qh   bnpb    bomdb}    bk  hd  if  nxcq  pbdhr    bn                        {  
 xg  hk  ij  nqbkhn  ixdndbfpmfl  ij  dqh  khlmndkbfd  n  iggif  vdic      obk    b}xh      {            bn  ij    bkcq                                              nqbkhn{  
  MXQ/        M ,W ,  /P  RO  U/L/,/ M/  


12345267  29  4   3 574364 7   956545   132     44  64   345656  42  4          66      456  29   42  2  37    5   4   ! 574364  5646 7  42  95   
  37 64  42  !   4526  "#   54  4      35457  6   $   6   %2  577526  624   43  4 6  "      7  943  4   ! 574364 7  957      3  6    &   '3  ("      #   
3   356  56 23 234   '   3936   56  134  )))  29  457   66    !  234  26  *23   " +,-  




      1      !      
      1#   $ %  &'( )*    
      1    ,!*  )-. /  0 '11  2)   !     
      12   256 *  ( * 5   
      3   7*)8 *      
      9   : ;'-  7*)(  /!;    
      "   < !   0'1  5  = (-)  *     
23456  89   6    
   2     



   2      

0 >(    <'
* * %        1)*  $ ;  *'! ?   2)  )!  @A  5B  $ -'  /  0 )(%C)-/ *  <'   *   '!/       *  7 *(C'     )1  @A  5  
      D   $   *. /   
      +     <'!';   ! ?   = (   )!  '!/  #!'-5    )1  &!'!('-  2)!/ )!  '!/  $   -    )1  E8 *' )!    
      +#   F '!  ' .   '!/  F '- ' .   = (-)  *    #6)    <'*%    $ %   
      G   &!'!('-  0 '    !    '!/  0 88-   ! '*5  =' '   
      4   2C'!;     !  '!/  = ';*    !    H  C  #(() ! '!    )!  #(() ! !;  '!/  &!'!('-  = (-)  *    
      4#     2)! *)-   '!/  7*)( / *     
      4    E C *   !1)* ' )!   
      42   = (-)  *   $ ;'*/!;  &)* ;!  J * /( )!    C'   7* . !    ! 8 ( )!    

   2       
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      11   @K (  .   2) 8 ! ' )!   
      13   0 ( * 5  EM! * C8  )1  2 * '!    ! 1('-  EM! *   '!/  <'!';   !   '!/  $ -'  /  0 )(%C)-/ *  
      19   2 * '!  $ -' )! C8   '!/  $ -'  /  N*'! '( )! B  '!/  =* ( )*   !/ 8 !/ !(    
      1"   7*!(8'-  #(() ! !;  &     '!/  0 *.(     

   2   O  
      1>   @KC6  B  &!'!('-  0 '    !   0(C / -     
      1D   &)*   1IPQ  0   '*5   
0 LR#N,$@0  

1  


1+  
34  
34  
93  
93  
93  
99  
99  
99  
94  
94  
94  
"I  
"1  
"1  
"3  
"3  
"3  
"3  
"3  
"9  
"D  



shareholder letter icon 4/14/2025 Letter Continued (Full PDF)
 

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