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Mar 31, 2022
Aytu BioScience Q3 2022 Earnings Report
Aytu BioPharma's revenue increased and strategic priorities were outlined.
Key Takeaways
Aytu BioPharma reported a 79% year-over-year increase in net revenue to $24.2 million for the third quarter of fiscal year 2022, marking the highest revenue in the company's history. The company's strategic priorities are focused on driving revenue growth, increasing financial efficiencies, and advancing its pipeline of therapeutics.
Net revenue increased 79% year-over-year to $24.2 million, the highest in company history.
Prescription sales grew over 170% year-over-year, reaching $13.9 million.
Consumer health franchise revenue increased over 23% year-over-year to $10.3 million.
Gross profit increased to $12.7 million, compared to $(0.5) million in the same quarter last year.
Aytu BioScience
Aytu BioScience
Forward Guidance
Aytu BioPharma is focused on driving revenue growth, increasing financial efficiencies, and preparing its pipeline for long-term value creation.
Positive Outlook
- Drive revenue growth with the company’s Rx product franchise and consumer health products.
- Enhance its financial performance through operational and manufacturing efficiencies and portfolio prioritization
- Advance and expand a pipeline focused on rare and complex disorders
- Improve gross margins for its ADHD product franchise through transfer of manufacturing to a well-established, global commercial manufacturing organization, a transition that is expected to occur in mid calendar 2023.
- Continue to advance AR101 and Healight programs, which are aimed at treating life-threatening conditions for which there are no or very few available treatment options.
Challenges Ahead
- The company has undertaken an effort to further prioritize its portfolio and operations, which include the divestiture or discontinuation of non-core, unprofitable products, including Cefaclor, Flexichamber, Tuzistra XR, generic Tussionex, and Zolpimist.
- These products produced negative contribution margin, consumed internal resources and incurred expenses, and will be removed from the portfolio.
- AR101 pivotal trial is expected to begin enrolling patients by early 2023.
- The company’s e-commerce health revenue grew 63% in year-over-year YTD
- Aytu expects to improve gross margins on our ADHD products by 15% or more.