Evofem Biosciences Q3 net sales rise

Reuters11-14
 <a href="https://laohu8.com/S/EVFM">Evofem Biosciences</a> Q3 net sales rise

Overview

  • Evofem Q3 net sales rise 10% yr/yr to $5.0 mln

  • Company posts $1.0 mln operating income, reversing prior yr $2.4 mln loss

  • Operating expenses fall 42% yr/yr, aiding profit turnaround

Outlook

  • Company aims to reduce manufacturing costs by 50% for PHEXX and SOLOSEC

  • SOLOSEC submitted for marketing approval in the UAE

  • Company did not provide specific financial guidance for future periods

Result Drivers

  • SALES REBOUND - Sales increased 10% yr/yr due to strategic marketing and press coverage, per CEO Saundra Pelletier

  • COST REDUCTION - Co reduced manufacturing costs for PHEXX and SOLOSEC by 50%, facilitating entry into price-sensitive markets

  • OPERATING EXPENSES DROP - Operating expenses fell 42% yr/yr, driven by reduced general and administrative expenses and a one-time gain

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

$4.95 mln

Q3 Net Income

-$1.57 mln

Q3 Income from Operations

$951,000

Q3 Operating Expenses

$4.001 mln

Q3 Pretax Profit

-$1.57 mln

Press Release: ID:nPn1gw3S9a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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