Retractable Technologies Inc 10-Q for FY2026 Q2

Retractable Technologies Inc (RVP)

10-Q 2026-08-14 For: 2026-06-30

Added on August 14, 2026

About this 10-Q

Retractable Technologies Inc filed this 10-Q on August 14, 2026, covering the quarter ended June 30, 2026 (FY2026 Q2).

Headline figures

Quarter ended June 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $7.2M; down 31.1% from $10.45M a year earlier
Net income: $2.83M; compared with a net loss of $87.47K a year earlier
Diluted EPS: $0.09; compared with $0.00 a year earlier

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Texas		75-2599762
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

511 Lobo Lane
Little Elm, Texas		75068-5295
(Address of principal executive offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	RVP	NYSE American


Large accelerated filer	☐	Accelerated filer	☐

Non-accelerated filer	☑	Smaller reporting company	☑
		Emerging growth company	☐


	PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements		1
	CONDENSED BALANCE SHEETS		1
	CONDENSED STATEMENTS OF OPERATIONS		2
	CONDENSED STATEMENTS OF CASH FLOWS		3
	CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY		4
	NOTES TO CONDENSED FINANCIAL STATEMENTS		5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		17
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		22
Item 4.	Controls and Procedures		23

	PART II—OTHER INFORMATION

Item 6.	Exhibits		23
SIGNATURES			24


		June 30, 2026			December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	2,641,041		$	2,588,625
Accounts receivable, net			9,029,658			7,904,120
Investments in debt and equity securities, at fair value			37,228,955			34,382,808
Inventories			15,934,027			17,188,397
Income taxes receivable			308,106			308,106
Other current assets			782,103			711,274
Total current assets			65,923,890			63,083,330

Property, plant, and equipment, net			75,465,103			79,180,049
Other assets			305,708			366,910
Total assets		$	141,694,701		$	142,630,289

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	6,700,860		$	5,339,797
Current portion of long-term debt			378,930			365,277
Accrued compensation			1,019,095			762,213
Dividends payable			1,417,438			1,417,438
Accrued royalties to shareholder			658,718			748,213
Other accrued liabilities			3,181,970			957,409
Income taxes payable			8,191			7,345
Total current liabilities			13,365,202			9,597,692

Other long-term liabilities (Note 8)			55,127,109			58,127,212
Long-term debt, net of current maturities			336,991			530,368
Total liabilities			68,829,302			68,255,272

Stockholders’ equity:
Preferred stock, $1 par value:
Class B; authorized: 5,000,000 shares
Series II, Class B			156,200			156,200
Series III, Class B			74,245			74,245
Common Stock, no par value			—			—
Additional paid-in capital			73,160,333			73,160,333
Retained earnings			12,363,299			13,872,917
Common stock in treasury – at cost			(12,888,678)			(12,888,678)
Total stockholders’ equity			72,865,399			74,375,017
Total liabilities and stockholders’ equity		$	141,694,701		$	142,630,289


		Three Months			Three Months			Six Months			Six Months
		June 30, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Sales, net		$	7,200,623		$	10,445,733		$	14,378,020		$	18,740,906
Cost of sales:
Cost of manufactured product			6,351,053			9,721,614			13,709,862			17,312,277
Royalty expense to shareholder			658,718			831,209			1,315,714			1,537,630
Total cost of sales			7,009,771			10,552,823			15,025,576			18,849,907
Gross profit (loss)			190,852			(107,090)			(647,556)			(109,001)

Operating expenses:
Sales and marketing			1,534,739			1,661,743			3,268,809			3,263,551
Research and development			187,291			160,049			357,707			351,241
General and administrative			3,614,724			3,201,955			7,039,748			6,083,798
Total operating expenses			5,336,754			5,023,747			10,666,264			9,698,590
Loss from operations			(5,145,902)			(5,130,837)			(11,313,820)			(9,807,591)

Other income - TIA			1,468,734			1,471,235			2,946,464			2,954,054
Unrealized gain (loss) on debt and equity securities			(179,147)			1,555,676			13,022			(5,600,837)
Gain on trading debt and equity securities			6,366,467			—			6,366,467			—
Litigation proceeds			—			1,900,000			—			1,900,000
Interest and other income			341,164			140,526			636,288			299,472
Interest expense			(18,705)			(22,257)			(39,143)			(45,710)
Net income (loss) before income taxes			2,832,611			(85,657)			(1,390,722)			(10,300,612)
Provision for income taxes			1,837			1,814			3,674			287,575
Net income (loss)			2,830,774			(87,471)			(1,394,396)			(10,588,187)
Preferred Stock dividend requirements			(57,611)			(57,611)			(115,222)			(115,222)
Net income (loss) applicable to common shareholders		$	2,773,163		$	(145,082)		$	(1,509,618)		$	(10,703,409)

Basic earnings (loss) per share		$	0.09		$	(0.00)		$	(0.05)		$	(0.36)

Diluted earnings (loss) per share		$	0.09		$	(0.00)		$	(0.05)		$	(0.36)

Weighted average common shares outstanding:
Basic			29,937,159			29,937,159			29,937,159			29,937,159
Diluted			29,937,159			29,937,159			29,937,159			29,937,159


		Six Months			Six Months
		Ended			Ended
		June 30, 2026			June 30, 2025
Cash flows from operating activities
Net loss		$	(1,394,396)		$	(10,588,187)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,801,019			3,755,483
Net unrealized loss (gain) on investments			(13,022)			5,600,837
Realized loss (gain) on investments			(6,366,467)			—
Bond amortization			(500)			(531)
Provision for credit losses			142,998			88,872
Inventory obsolescence adjustment			884,503			616,740
Other income - TIA			(2,946,464)			(2,954,054)
(Increase) decrease in operating assets:
Accounts receivable			(1,268,536)			(388,065)
Inventories			369,867			(1,876,847)
Other current assets			(70,829)			8,711
Income taxes receivable			—			316,422
Other assets			11,179			22,356
Increase (decrease) in operating liabilities:
Accounts payable			1,361,063			(230,233)
Accrued liabilities			2,388,332			419,744
Income taxes payable			846			(814)
Net cash used in operating activities			(3,100,407)			(5,209,566)

Cash flows from investing activities
Purchase of property, plant, and equipment			(36,050)			(419,284)
Purchase of debt and equity securities			(30,949,493)			(281,300)
Proceeds from the sales of debt and equity securities			34,483,335			5,000,000
Net cash from investing activities			3,497,792			4,299,416

Cash flows from financing activities
Principal payments on finance lease obligation			(50,023)			—
Repayments of long-term debt			(179,724)			(165,030)
Payment of preferred stock dividends			(115,222)			(115,222)
Net cash used in financing activities			(344,969)			(280,252)

Net increase (decrease) in cash and cash equivalents			52,416			(1,190,402)
Cash and cash equivalents at:
Beginning of period			2,588,625			4,235,388
End of period		$	2,641,041		$	3,044,986

Supplemental schedule of cash flow information:
Interest paid		$	29,091		$	45,764
Income taxes paid		$	7,025			7,381

Supplemental schedule of noncash investing and financing activities:
Preferred dividends declared, not paid		$	57,611		$	57,611


					Series II			Series III
					Class B			Class B			Additional						Treasury
		Common			Preferred			Preferred			Paid-In			Retained			Stock –
		Stock			Stock			Stock			Capital			Earnings			at cost			Total
Balance at March 31, 2026		$	—		$	156,200		$	74,245		$	73,160,333		$	9,590,136		$	(12,888,678)		$	70,092,236
Dividends			—			—			—			—			(57,611)			—			(57,611)
Net Income			—			—			—			—			2,830,774			—			2,830,774
Balance at June 30, 2026		$	—		$	156,200		$	74,245		$	73,160,333		$	12,363,299		$	(12,888,678)		$	72,865,399


Production equipment		3 to 13 years
Office furniture and equipment		3 to 10 years
Buildings		39 years
Building improvements		5 to 15 years


		Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
		June 30, 2026				June 30, 2025				June 30, 2026				June 30, 2025
Number of significant customers			2				3				2				3
Aggregate dollar amount of net sales to significant customers		$	3.5	million		$	6.0	million		$	6.9	million		$	10.3	million
Percentage of net sales to significant customers			49.1%				57.2%				48.1%				55.0%


		For the three months ended June 30, 2026:
					Blood									Total
					Collection			EasyPoint^®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	5,299,242			294,940			272,174			7,164			5,873,520
North and South America sales (excluding U.S.)			829,832			—			347,092			—			1,176,924
Other international sales			121,478			1,000			27,152			549			150,179
Total		$	6,250,552		$	295,940		$	646,418		$	7,713		$	7,200,623


		For the six months ended June 30, 2026:
					Blood									Total
					Collection			EasyPoint^®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	10,430,295			635,402			742,747			13,401			11,821,845
North and South America sales (excluding U.S.)			1,249,194			—			782,980			600			2,032,774
Other international sales			373,336			35,468			113,896			701			523,401
Total		$	12,052,825		$	670,870		$	1,639,623		$	14,702		$	14,378,020


		For the six months ended June 30, 2025:
					Blood									Total
					Collection			EasyPoint^®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	10,998,270			638,662			4,267,790			17,265			15,921,987
North and South America sales (excluding U.S.)			1,526,520			—			772,416			—			2,298,936
Other international sales			363,878			7,947			138,608			9,550			519,983
Total		$	12,888,668		$	646,609		$	5,178,814		$	26,815		$	18,740,906


	June 30, 2026
	Level 1		Level 2		Level 3		Total
Mutual funds	$	36,642,550	$	—	$	—	$	36,642,550
Municipal bonds		586,405		—		—		586,405
	$	37,228,955	$	—	$	—	$	37,228,955


		June 30, 2026
					Cumulative Unrealized						Aggregate
		Cost			Gains			Losses			Fair Value
Mutual funds		$	36,552,611		$	89,939		$	—		$	36,642,550
Municipal bonds			557,938			28,467			—			586,405
		$	37,110,549		$	118,406		$	—		$	37,228,955


		June 30, 2026			December 31, 2025
Raw materials		$	3,553,807		$	3,586,275
Finished goods			12,380,220			13,602,122
		$	15,934,027		$	17,188,397


	Three Months Ended				Six Months Ended
	June 30, 2026				June 30, 2026
U.S. statutory federal tax rate	$	594,848	21.00	%	$	(292,052)	21.00	%
State tax, net of federal tax		293	0.00			3,093	(0.23)
Valuation Allowance		(615,087)	(21.68)			263,596	(18.95)
Nontaxable or Nondeductible Items		21,783	0.74			29,037	(2.11)
Effective tax rate	$	1,837	0.06	%	$	3,674	(0.29)	%


		Six Months Ended
		June 30, 2025
U.S. statutory federal tax rate		21.0	%
State tax, net of federal tax		(2.1)
Change in valuation allowance		(21.3)
Section 162(m); Limit on Compensation		(0.2)
Return-to-provision and deferred true up		(0.2)
Effective tax rate		(2.8)	%


Remainder of 2026	$	60,078
2027		120,156
2028		100,130
Total lease payments		280,364
Less: imputed interest		(22,390)
Present value of lease liability	$	257,974


Amortization of finance lease ROU assets	$	25,230
Interest on finance lease liabilities		4,809
Total finance lease expense	$	30,039


Finance lease ROU assets	$	257,974
Current finance lease liabilities		(105,437)
Long term finance lease liabilities	$	152,537


Exhibit No.		Description of Document

31.1		Certification of Principal Executive Officer

31.2		Certification of Principal Financial Officer

32		Certification Pursuant to 18 U.S.C. Section 1350

101		The following materials from Retractable Technologies, Inc.’s Form 10-Q for the period ended June 30, 2026, formatted in inline XBRL (eXtensible Business Reporting Language): (i) Condensed Balance Sheets as of June 30, 2026 and December 31, 2025, (ii) Condensed Statements of Operations for the three and six months ended June 30, 2026 and 2025, (iii) Condensed Statements of Cash Flows for the six months ended June 30, 2026 and 2025, (iv) Condensed Statement of Changes in Stockholders’ Equity for the three and six months ended June 30, 2026 and 2025; and (v) Notes to Condensed Financial Statements

104		Interactive Data File (formatted Inline XBRL and contained in Exhibit 101)

DATE: August 14, 2026	RETRACTABLE TECHNOLOGIES, INC.
	(Registrant)


	By:	/s/ John W. Fort III
		JOHN W. FORT III VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER

Date: August 14, 2026

/s/ Thomas J. Shaw
THOMAS J. SHAW
PRESIDENT, CHAIRMAN, AND
CHIEF EXECUTIVE OFFICER

Date: August 14, 2026

/s/ John W. Fort III
JOHN W. FORT III
VICE PRESIDENT,
CHIEF FINANCIAL OFFICER,
AND CHIEF ACCOUNTING OFFICER

Date:	August 14, 2026	/s/ Thomas J. Shaw

		THOMAS J. SHAW PRESIDENT, CHAIRMAN, AND CHIEF EXECUTIVE OFFICER

		/s/ John W. Fort III

		JOHN W. FORT III VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER