• The Dyson of medical syringes, focused on innovative auto-retracting safety designs.
• A specialized Becton Dickinson (BDX) focused exclusively on auto-retracting safety syringes to prevent needlestick injuries.
• The Volvo of medical syringes, prioritizing superior needlestick injury prevention.

• VanishPoint® Syringes: Syringes with an automated retraction mechanism designed to prevent needlestick injuries.
• VanishPoint® Blood Collection Devices: Safety-engineered devices for collecting blood samples, including blood collection tubes and holders.
• VanishPoint® Lancets: Single-use, automatically retracting lancets designed for safe capillary blood sampling.
• VanishPoint® IV Catheters: Intravenous catheters equipped with safety features to protect healthcare workers.
• EasyPoint® Needles: Safety needles that allow manual retraction of the needle into the barrel after use.

Retractable Technologies (RVP) sells primarily to other companies and entities within the healthcare sector.

Major Customers and Distribution Channels:

• U.S. Government Agencies: Historically, particularly during the COVID-19 pandemic, a significant portion of Retractable Technologies' sales (at times exceeding 70% or even 90% of net sales) was attributed to one major customer. SEC filings indicate this customer was the U.S. government (e.g., through agencies like the Department of Health and Human Services or BARDA) for emergency preparedness and vaccination efforts. This is a government entity and does not have a public stock symbol.
• National and Regional Distributors: RVP markets and sells its products through various distribution channels globally, including national and regional distributors in the healthcare industry. While the company does not typically name specific individual distributors that account for a material percentage of its revenue (outside of the government contracts), major medical distributors in the U.S. market often include companies like:
  • Cardinal Health (NYSE: CAH)
  • McKesson Corporation (NYSE: MCK)
  • Henry Schein, Inc. (NASDAQ: HSIC)
  These companies serve as crucial intermediaries for distributing medical devices to hospitals, clinics, and other healthcare providers. However, RVP's public filings do not specify these particular distributors as individually constituting a "major customer" (i.e., 10% or more of revenue) in a sustained manner, apart from the specific government contracts mentioned above.
• Group Purchasing Organizations (GPOs): RVP also works with Group Purchasing Organizations, which represent networks of healthcare providers to negotiate favorable pricing with manufacturers and distributors.
• Direct Sales to Hospitals and Government Agencies: The company also engages in direct sales to certain hospitals and other government agencies.

It is important to note that RVP's sales concentration has varied, with a significant shift anticipated away from the heavy reliance on the U.S. government post-pandemic, as indicated in their recent filings.

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Thomas J. Shaw, Chairman, President, and Chief Executive Officer

Thomas J. Shaw founded Retractable Technologies, Inc. in 1994 and has served as its Chief Executive Officer and President since its inception. He has experience in industrial product design and has developed and patented retractable syringe technology. Mr. Shaw is also identified as a director and 10 percent owner of RealPage Inc. He has a history of consistently purchasing shares in Ret retractable Technologies, Inc., indicating strong management confidence.

John W. Fort III, Vice President, Chief Financial Officer, and Treasurer

John W. Fort III serves as the Vice President, Chief Financial Officer, Treasurer, and Principal Accounting Officer for Ret retractable Technologies, Inc.

Michele M. Larios, Vice President, General Counsel & Secretary

Michele M. Larios holds the position of Vice President, General Counsel, and Secretary.

Russell B. Kuhlman, Vice President of Sales Development

Russell B. Kuhlman is the Vice President of Sales Development.

Kathryn M. Duesman, Vice President of Clinical Affairs

Kathryn M. Duesman serves as the Vice President of Clinical Affairs.

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Ret retractable Technologies, Inc. (RVP) primarily designs, develops, manufactures, and markets safety syringes and other safety medical products featuring retractable needle technology, such as VanishPoint syringes, blood collection sets, and EasyPoint needles.

The addressable markets for these main products are as follows:

• U.S. Ret retractable Needle Safety Syringes Market: This market is estimated to be valued at USD 185.6 million in 2025 and is expected to reach USD 257.7 million by 2032, growing at a compound annual growth rate (CAGR) of 4.8% from 2025 to 2032.
• Global Ret retractable Needle Safety Syringes Market: This market was valued at US$203 million in 2024 and is projected to reach US$275.1 million by 2030, growing at a CAGR of 5.2% from 2024 to 2030. Another estimate places the global retractable needles market at USD 228.6 million in 2025.
• Global Safety Needles Market (broader market including retractable needles): This market is estimated to be valued at USD 6.7 billion in 2025 and is projected to reach USD 13.3 billion by 2035, registering a CAGR of 7.0%. Another report indicates the global safety needles market size reached USD 3.1 billion in 2024 and is expected to reach USD 6.4 billion by 2033.

1. Expansion of Domestic Manufacturing and Product Offerings: Retractable Technologies is actively increasing its U.S. manufacturing capacity, with plans to enable domestic production of 0.5mL syringes in the second half of 2025. This effort aims to reduce the company's reliance on Chinese suppliers and mitigate the impact of tariffs, which can lead to increased sales volumes and potentially a more stable supply chain for its products.
2. Growth in Unit Sales Across Domestic and International Markets: The company has demonstrated strong demand for its safety medical devices, reporting significant surges in unit sales. Domestic unit sales increased by 81.8% year over year, and international unit sales nearly doubled in the second quarter of 2025. Continued momentum in these unit sales is a direct driver for higher revenue.
3. Leveraging the Technology Investment Agreement (TIA): Retractable Technologies continues to benefit from its Technology Investment Agreement with the U.S. government, which has already expanded its domestic production capacity and remains in effect through 2030. This agreement provides strategic government support that can facilitate more efficient production, enable expansion of product lines, and potentially secure larger contracts, thereby contributing to revenue growth.
4. Strategic Optimization of Product Mix: While there has been a recent shift towards lower-priced EasyPoint needles, Retractable Technologies' product portfolio includes syringes which generally command higher selling prices. A future strategic emphasis or a shift in market demand favoring these higher-priced products could lead to an increase in the average selling price and consequently boost overall revenue.

Share Repurchases

• Retractable Technologies made significant stock buybacks in 2021 and early 2022.
• Quarterly buybacks included $153,900 in Q2 2021, $2.68 million in Q3 2021, $2.42 million in Q4 2021, and $2.54 million in Q1 2022.

Share Issuance

• The number of shares outstanding for Retractable Technologies decreased by 9.11% in 2023 and 2.79% in 2022.
• Shares outstanding increased by 2.13% in 2020 and 1.53% in 2021.
• Over the last year, insiders collectively purchased approximately $998,500 worth of shares in open-market transactions.

Capital Expenditures

• Capital expenditures were -$1.51 million in the last 12 months ending June 2025.
• Annual capital expenditures were approximately -$1.44 million in FY 2024, -$0.85 million in FY 2023, -$16.83 million in FY 2022, -$58.37 million in FY 2021, and -$21.05 million in FY 2020.