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Sep 30, 2023
Evofem Biosciences Q3 2023 Earnings Report
Evofem Biosciences reported financial results for Q3 2023, showing revenue of $5.1 million and a net income of $66.0 million.
Key Takeaways
Evofem Biosciences announced its Q3 2023 financial results, highlighting a net product sales of $5.1 million, a significant reduction in operating expenses, and a net income of $66.0 million, or $15.34 per basic share.
On track to achieve third consecutive year of revenue growth.
Achieved third consecutive quarter of favorable sales and marketing expense as a percentage of net sales.
Reduced loss from operations by 81% compared to Q3 2022.
Generic drug maker will no longer seek approval from the FDA to market a generic version of Phexxi until Evofem’s Phexxi patents all expire.
Evofem Biosciences
Evofem Biosciences
Forward Guidance
This press release includes forward-looking statements within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 including, without limitation, statements related to the Company’s anticipated financial performance, actions by generic drug makers, and possible repayment terms and price of the Notes.