Sharps Technology Reports First Revenue of $222,722 and Strategic Advancements in Q2 2025

Sharps Technology Inc. reported significant financial developments in its latest 10-Q filing for the second quarter of 2025, revealing a net revenue of $222,722, marking the company's first revenue generation since its inception. This figure contrasts sharply with the previous fiscal period, where the company reported no revenue. Despite this positive revenue milestone, Sharps incurred a gross loss of $1,032,027 for the quarter, primarily due to costs associated with goods manufactured and inventory reserves totaling $1,254,749.

The company’s operating expenses for the second quarter of 2025 amounted to $1,974,355, slightly higher than the $1,921,100 reported in the same quarter of 2024. The increase in expenses was driven by a rise in selling, general, and administrative costs, which reached $1,912,900 compared to $1,740,803 in the prior year. As a result, Sharps reported a loss from operations of $3,006,382 for the quarter, up from a loss of $1,921,100 in the same period last year. However, the company experienced a turnaround in net income, reporting a net income of $3,559,307 for the quarter, compared to a net loss of $2,102,327 in the second quarter of 2024, largely due to a fair market value adjustment on warrants.

Sharps Technology has also made strategic advancements, including the commencement of commercialization of its patented safety syringes in the second quarter of 2025. The company has expanded its operational footprint through its wholly owned subsidiary, Safegard Medical (Hungary) KFT, which is expected to enhance its manufacturing and distribution capabilities. The total assets of the company surged to $17,085,197 as of June 30, 2025, compared to $7,313,748 at the end of 2024, driven by an increase in cash reserves to $8,322,192 from $864,041.

In terms of operational metrics, Sharps reported a significant increase in its stockholders' equity, which rose to $14,539,670 from $1,996,129 at the end of 2024. The company’s employee headcount has also seen growth, reflecting its expansion efforts. The filing indicates that Sharps is focused on raising additional financing to support its ongoing operations and product commercialization, as it has not yet generated sufficient cash flow from operations to sustain its planned activities.

Looking ahead, Sharps Technology aims to continue its growth trajectory by leveraging its recent revenue generation and expanding its product offerings. The company acknowledges the need for further financing to support its operational needs and product development, emphasizing its commitment to achieving profitability in the future. The management remains optimistic about the potential for increased market share and product adoption as it navigates the evolving landscape of the medical device industry.