RETRACTABLE TECHNOLOGIES INC

Retractable Technologies, Inc. announced that its Board of Directors has declared dividends for holders of its Series II Class B and Series III Class B Convertible Preferred Stock. The dividends amount to $39,050.00 for Series II and $18,561.25 for Series III, covering the period from April 1, 2026, through June 30, 2026. These dividends, which accrued at $1.00 per share per annum, will be paid on July 20, 2026, to shareholders of record as of July 10, 2026.

Retractable Technologies, Inc. reported total net sales of $7.2 million for Q1 2026, a decrease from $8.3 million in the prior year. The company's operating loss widened to $6.2 million from $4.7 million, resulting in a net loss of $4.2 million. In response to financial performance, the company reduced its workforce by approximately 16% in April 2026, expecting $2.2 million in annual savings. While international sales increased, domestic sales declined, and operating expenses rose due to non-recurring costs.

Retractable Technologies reported a 13.5% decrease in net sales to $7.18 million for the first quarter of 2026, with gross loss widening significantly to $838,408 and operating loss increasing to $6.17 million. Despite these operational challenges, the net loss applicable to common shareholders improved to ($4.28 million) or ($0.14) per share, primarily due to an unrealized gain on debt and equity securities. The company also recorded $863,037 in inventory write-downs and continues to face material impacts from 110% tariffs on Chinese syringe and needle imports.