Thu, Sep 26, 8:07 PM (85 days ago)
Aytu BioPharma, Inc. reported a net loss of $15.8 million for the fiscal year ending June 30, 2024, a slight improvement from a $17.1 million loss in the previous year. The company's accumulated deficit reached $320 million. Total revenue decreased by 25% to $81 million, primarily due to a significant drop in its Consumer Health Segment, which has been wound down, while the Rx Segment generated $65.2 million, driven by strong sales of ADHD medications, which rose to $57.8 million. Operating expenses fell by 28% to $59.8 million, reflecting cost-cutting measures and the cessation of the Consumer Health Segment. The gross margin improved from 62% to 67%, aided by efficiencies in the ADHD Portfolio's production. Aytu's financial condition remains under pressure, with ongoing reliance on debt financing, including a new $13 million term loan from Eclipse Business Capital. The company faces risks such as customer concentration, with three major customers accounting for a significant portion of revenue, and potential supply chain disruptions. Looking ahead, Aytu aims to enhance profitability by focusing on its Rx Segment and managing costs effectively. The divestiture of the Consumer Health Segment is expected to yield operational savings, and the company anticipates continued revenue growth from its core ADHD products.