Rockwell Medical Inc (NASDAQ:RMTI) reported a Q2 FY23 revenue of $18.1 million, in line with the consensus. 

Gross profit came in at $1.0 million, lower than $1.7 million a year ago.

Adjusted EBITDA loss stood at $(2.3) million vs. $(3.4) million the prior year.

The hemodialysis products company reported an EPS loss of $(0.18), beating the analyst consensus of a $(0.12) loss.

As of June 30, 2023, cash and cash equivalents and investments available for sale stood at $14.9 million. 

Outlook: Rockwell Medical expects Q3 revenue of $21.0 million-$23.0 million vs. consensus of $23.67 million.

Gross profit outlook increased to $8.0 million-$10.0 million from $7 million-$9 million earlier for FY23.

The company expects to achieve profitability from operations in Q4 2023 and going forward.

Price Action: RMTI shares are up by 5.7% to $3.15 premarket on the last check Monday.