Retractable Technologies, Inc. reported total net sales of $8.3 million for the first three months of 2025, an increase from $7.6 million in the same period last year. However, the company's operating loss widened to $4.7 million, compared to an operating loss of approximately $3.0 million in Q1 2024.
The increased operating losses are largely attributed to a rise in tariffs and additional period costs associated with increased domestic production activities. RVP spent approximately $1.5 million on tariff expenses in the first quarter of 2025.
In a strategic shift, Retractable Technologies reduced its dependence on Chinese manufacturers to 62.7% in Q1 2025, down from 90.4% in Q1 2024, by significantly increasing domestic manufacturing. The company has hired additional manufacturing personnel while implementing workforce reductions in other departments in April 2025.
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