NovaBay Earnings Reports

NovaBay Pharmaceuticals, Inc. reported a net income of $7.67 million for Q1 2025, a substantial improvement from a net loss of $3.214 million in Q1 2024. This positive shift was primarily driven by a significant gain from discontinued operations, specifically the Avenova Asset Divestiture. The company's continuing operations, however, still reported a net loss and operating loss, with increased general and administrative expenses due to strategic initiatives and one-time severance costs. The company's cash and cash equivalents increased significantly due to proceeds from divestitures, and management believes existing cash will be sufficient through May 15, 2026, though uncertainty remains regarding its long-term strategic direction.