Sharps Technology Achieves Milestone Order, Marks First Revenue
NEW YORK, April 30, 2025 — Sharps Technology, Inc. (NASDAQ: “STSS”), a leader in innovative medical devices and pharmaceutical packaging, has announced the receipt of a pivotal $400,000 purchase order from a U.S. provider of IV flushing solutions. This order represents the commencement of revenue generation under a previously established five-year, $50 million supply agreement announced in July 2024.
"This order signifies a transformative moment for Sharps Technology as we begin fulfilling our commitment to shareholders," stated Robert Hayes, CEO. He emphasized that the transition from agreement to execution is vital, with this initial order laying the groundwork for future revenue increases. The company’s facility in Hungary is prepared to deliver the pump-compatible 10mL SoloGard syringes, marking the first revenue recognition for 2025.
The landmark agreement is expected to involve the supply of approximately 500 million customized syringes throughout its duration. To meet the anticipated demand, Sharps has made significant investments in cutting-edge manufacturing technology, enhancing production efficiency for SoloGard syringes. The company is collaborating closely with its customer to finalize product specifications and optimize production processes.
Braden Miller, Vice President of Product and Program Management, underscored the importance of their manufacturing advancements. Collaborations with industry leaders, such as Husky Medical Molds and BBS Automation, are aimed at streamlining production while ensuring superior quality. These enhancements will enable Sharps to meet the needs outlined in their substantial contract efficiently.
Sharps Technology specializes in safety-oriented syringe products that minimize waste and feature innovative designs for the prefillable syringe market. For more information, visit www.sharpstechnology.com.
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