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Sep 30, 2022
Aytu BioScience Q1 2023 Earnings Report
Aytu BioPharma reported record quarterly revenue and positive adjusted EBITDA
Key Takeaways
Aytu BioPharma reported a record quarterly revenue of $27.7 million, driven by a 34% growth in the Rx segment, and achieved a positive adjusted EBITDA of $1.4 million.
Total net revenue reached a new quarterly record of $27.7 million, up 26% year-over-year.
Rx segment revenue grew by 34% to $18.7 million compared to the year-ago quarter.
Consumer Health revenue increased by 12% to $9.0 million compared to the year-ago quarter.
Gross margins increased to 65% compared to 57% in the year-ago quarter.
Aytu BioScience
Aytu BioScience
Forward Guidance
Aytu BioPharma is focused on accelerating commercial business growth and achieving profitability.
Positive Outlook
- Strategic initiatives are in place to drive growth and efficiency.
- Proprietary Aytu RxConnect platform is expected to provide leverage.
- Manufacturing transfer of ADHD products to a global contract manufacturer is on track.
- Expected improvement in gross margins of Adzenys XR-ODT and Cotempla XR-ODT by 15% or more.
- Extension of interest-only period on senior secured loan facility with Avenue Venture Opportunities Fund.
Challenges Ahead
- Indefinite suspension of clinical development programs, including AR101/enzastaurin for VEDS treatment.
- Suspension of clinical development programs will save over $20 million in projected future study costs.
- Restructuring and streamlining of internal processes may present challenges.
- Dependence on market acceptance of products.
- Risks related to the ongoing COVID-19 pandemic and its impact on operations.