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Mar 31, 2023
Aytu BioScience Q3 2023 Earnings Report
Aytu BioPharma reported a decrease in revenue but an increase in total prescriptions and gross margins for Q3 2023.
Key Takeaways
Aytu BioPharma reported a decrease in revenue of 6% year-over-year, with total net revenue at $22.7 million. Despite the revenue decrease, total prescriptions increased by 32% compared to Q3 2022. The company reported a net loss of $7.2 million, or $1.93 per share, compared to a net loss of $53.3 million, or $35.90 per share, in Q3 2022. Gross margins improved to 56% compared to 52% in the year-ago quarter.
Total net revenue was $22.7 million, a decrease of 6% year-over-year.
Total quarterly prescriptions reached a record 153,452, a 32% increase over Q3 2022.
Gross margins improved to 56% compared to 52% in the year-ago quarter.
Net loss during Q3 2023 was $(7.2) million, or ($1.93) per share, compared to $(53.3) million, or ($35.90) per share, in Q3 2022.
Aytu BioScience
Aytu BioScience
Aytu BioScience Revenue by Segment
Revenue by Segment
Other Revenue
CapyFin.com Forward Guidance
Aytu BioPharma is focused on improving growth and profitability in both its segments and believes it is in position to end fiscal 2023 on a high note.
Positive Outlook
- Core Rx segment continues to perform at a high level, with record total prescriptions written during the quarter.
- 27% ADHD prescription growth over the same quarter last year bodes well for the long-term growth and future profitability of the business.
- Strategic transition implemented within Consumer Health segment as the company phases out of the direct mail channel with a focus on OTC medicines and their e-commerce sales.
- Sales on Amazon increased 13% compared to the year ago period.
- Successfully executing against various gross margin enhancements strategies, including the recent progress made to finalize the manufacturing of ADHD products to a third-party facility.
Challenges Ahead
- The company still have work to do to fully enhance the benefits within Consumer Health segment.
- Net revenue was impacted by a one-time $1.2 million channel inventory adjustment due to an ADHD products price increase instituted on April 1, 2023.
- Changes in payer mix and the resetting of the underlying patient health insurance deductibles at the beginning of calendar 2023.
- Net revenue from the Consumer Health segment was impacted by the company's strategic decision in fiscal 2022 to pivot its efforts to the more efficient, higher margin ecommerce channel.
- Expenditures attributable to the suspended Pipeline R&D were approximately $401,000 in Q3 2023.