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Retractable Technologies (RVP) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Retractable Technologies (RVP) Q2 2026 earnings results →
Q2 2026 Revenue down 31% year over year to $7.2M · 39¢ of every $1 of revenue kept as net profit · operating margin -71.5%
Retractable Technologies made $7.2M in Q2 2026 (-31% Y/Y): Syringes $6.3M, EasyPoint Needles $646K, Blood Collection Products $296K. Operating margin -71.5%, net earnings $2.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $7.2M in Q2 2026, down 31% year over year and roughly flat from the previous quarter. Syringes was the largest line at 87% of revenue. EasyPoint Needles lost $3.5M year over year (down 85%), 109% of the total change.
Gross margin was 2.7%. Operating costs exceeded revenue by $5.1M, an operating margin of -71.5%. The fastest-growing cost line was Research & development (+17%). Net earnings were $2.8M. The effective tax rate was 0.1%. Non-operating items added $8.0M, 282% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.7M. Non-cash charges added back $1.9M of depreciation and amortization. Working capital and other items used $6.5M. Capital expenditures of $30K exceeded it, leaving free cash flow of −$1.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $7.2M | -31% | -71.5% | $2.8M | −$1.7M |
| Q1 2026 | 10-Q | May 15, 2026 | $7.2M | -14% | -85.9% | −$4.2M | −$1.4M |
| Q4 2025 | 10-K | Mar 27, 2026 | $9.4M | +4% | -81.7% | −$2.3M | −$597K |
| Q3 2025 | 10-Q | Nov 14, 2025 | $10.1M | -2% | -36.2% | $371K | −$1.3M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $10.4M | +73% | -49.1% | −$87K | −$3.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $8.3M | +9% | -56.4% | −$10.5M | −$1.5M |
| Q4 2024 | 10-K | Mar 28, 2025 | $9.1M | -36% | -79.6% | $3.8M | −$1.1M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 54% of its revenue · Stated in 10-K (name in text, share from XBRL) · source
About Retractable Technologies
Retractable Technologies, Inc. was incorporated in Texas in 1994. Our business is the manufacturing and marketing of safety medical products (predominately syringes) for the healthcare industry. We have manufacturing facilities in Little Elm, Texas and use manufacturers in China as well. Our syringes are well-suited for administering vaccinations. On September 13, 2024, the Office of the U.S. Trade Representative (“USTR”) revealed final adjustments to increase tariffs on certain goods imported from China under Section 301 (“Section 301”) of the Trade Act of 1974 (“Trade Act”). Among those products included were syringes and needles, at a rate of 100%. Beginning in early 2025 and throughout much of the year, additional widespread tariffs were imposed on most products imported into the U.S. citing authority under the International Emergency Economic Powers Act (“IEEPA”).
In its own words, from its 10-K, filed Mar 27, 2026.
Retractable Technologies against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -31% against the peers' median +5%. Operating margin: -71.5% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RVP Retractable Technologies | Q2 2026 | $7.2M | -31% | -71.5% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Retractable Technologies 10-Q on SEC EDGAR · CIK 946563 · Surgical & Medical Instruments & Apparatus
13F: who owns RVP and who is buying
More on RVP
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results