Aytu BioPharma Reports Fiscal 2024 Full Year and Fourth Quarter Operational and Financial Results
Aytu BioPharma reported fiscal 2024 full year and fourth quarter results. Key highlights include:
- Full year consolidated net revenue of $81.0 million, with Rx Segment revenue of $65.2 million
- ADHD Portfolio net revenue increased 23% to $57.8 million
- Adjusted EBITDA improved to $9.2 million, up $5.7 million from fiscal 2023
- Cash balance of $20.0 million as of June 30, 2024
The company expects Rx Segment net revenue and adjusted EBITDA growth in fiscal 2025. Aytu completed the wind down and divestiture of its Consumer Health Segment in July 2024, focusing on its higher-margin Rx Segment. The ADHD Portfolio saw strong growth, while the Pediatric Portfolio was impacted by payer changes but is showing signs of recovery.
Aytu BioPharma ha riportato i risultati dell'anno fiscale 2024 e del quarto trimestre. I punti salienti includono:
- Ricavi netti consolidati per l'intero anno di 81,0 milioni di dollari, con ricavi del segmento Rx di 65,2 milioni di dollari
- I ricavi netti del portafoglio ADHD sono aumentati del 23% raggiungendo 57,8 milioni di dollari
- L'EBITDA rettificato è migliorato a 9,2 milioni di dollari, con un incremento di 5,7 milioni rispetto all'anno fiscale 2023
- La disponibilità di cassa ammontava a 20,0 milioni di dollari al 30 giugno 2024
L'azienda prevede una crescita dei ricavi netti del segmento Rx e dell'EBITDA rettificato nell'anno fiscale 2025. Aytu ha completato la cessazione e la dismissione del suo segmento Salute dei Consumatori a luglio 2024, concentrandosi invece sul segmento Rx ad alto margine. Il portafoglio ADHD ha mostrato una forte crescita, mentre il portafoglio Pediatrico è stato influenzato dai cambiamenti dei pagatori, ma sta mostrando segni di ripresa.
Aytu BioPharma reportó los resultados del año fiscal 2024 y del cuarto trimestre. Los aspectos destacados incluyen:
- Ingresos netos consolidados para todo el año de 81,0 millones de dólares, con ingresos del segmento Rx de 65,2 millones de dólares
- Los ingresos netos de la cartera de TDAH aumentaron un 23% hasta 57,8 millones de dólares
- El EBITDA ajustado mejoró a 9,2 millones de dólares, un aumento de 5,7 millones en comparación con el año fiscal 2023
- El saldo de efectivo era de 20,0 millones de dólares al 30 de junio de 2024
La empresa espera un crecimiento de los ingresos netos del segmento Rx y EBITDA ajustado en el año fiscal 2025. Aytu completó la liquidación y desinversión de su segmento de Salud del Consumidor en julio de 2024, enfocándose en su segmento Rx de mayor margen. La cartera de TDAH experimentó un fuerte crecimiento, mientras que la cartera Pediátrica se vio afectada por cambios en los pagadores, pero está mostrando signos de recuperación.
Aytu BioPharma는 2024 회계연도 전체 및 4분기 실적을 보고했습니다. 주요 하이라이트는 다음과 같습니다:
- 전체 회계연도 통합 순수익 8,100만 달러, Rx 부문 순수익 6,520만 달러
- ADHD 포트폴리오 순수익 23% 증가하여 5,780만 달러
- 조정된 EBITDA는 920만 달러로 개선되어, 2023 회계연도 대비 570만 달러 증가
- 2024년 6월 30일 기준 현금 잔고 2천만 달러
회사는 2025 회계연도에 Rx 부문의 순수익과 조정된 EBITDA 성장을 예상합니다. Aytu는 2024년 7월 소비자 건강 부문의 정리 및 매각을 완료하고, 더 높은 마진의 Rx 부문에 집중하고 있습니다. ADHD 포트폴리오는 강력한 성장을 보였으나, 소아 포트폴리오는 지불자 변경으로 영향을 받았지만 회복 조짐을 보이고 있습니다.
Aytu BioPharma a rapporté les résultats de l'exercice fiscal 2024 et du quatrième trimestre. Les points essentiels incluent :
- Chiffre d'affaires net consolidé pour l'année complète de 81,0 millions de dollars, avec un chiffre d'affaires du segment Rx de 65,2 millions de dollars
- Le chiffre d'affaires net du portefeuille ADHD a augmenté de 23% pour atteindre 57,8 millions de dollars
- L'EBITDA ajusté a été amélioré à 9,2 millions de dollars, soit une augmentation de 5,7 millions par rapport à l'exercice fiscal 2023
- Le solde de trésorerie était de 20,0 millions de dollars au 30 juin 2024
La société prévoit une croissance des revenus nets du segment Rx et de l'EBITDA ajusté pour l'exercice fiscal 2025. Aytu a terminé la cessation et la cession de son segment santé grand public en juillet 2024, en se concentrant sur son segment Rx à forte marge. Le portefeuille ADHD a affiché une forte croissance, tandis que le portefeuille pédiatrique a été affecté par des changements de payeurs mais montre des signes de reprise.
Aytu BioPharma hat die Ergebnisse des Geschäftsjahres 2024 und des vierten Quartals veröffentlicht. Die wichtigsten Höhepunkte sind:
- Konsolidierte Nettoumsätze für das gesamte Jahr von 81,0 Millionen USD, mit Umsätzen des Rx-Segments von 65,2 Millionen USD
- Die Nettoumsätze des ADHD-Portfolios stiegen um 23% auf 57,8 Millionen USD
- Das bereinigte EBITDA verbesserte sich auf 9,2 Millionen USD, ein Anstieg um 5,7 Millionen im Vergleich zum Geschäftsjahr 2023
- Der Kassenbestand beträgt 20,0 Millionen USD zum 30. Juni 2024
Das Unternehmen erwartet ein Wachstum der Nettoumsätze des Rx-Segments und des bereinigten EBITDA im Geschäftsjahr 2025. Aytu hat im Juli 2024 die Abwicklung und Veräußerung seines Segments für Verbraucherprodukte abgeschlossen und konzentriert sich auf sein margenstarkes Rx-Segment. Das ADHD-Portfolio verzeichnete ein starkes Wachstum, während das pädiatrische Portfolio von Änderungen bei den Kostenträgern betroffen war, aber Anzeichen einer Erholung zeigt.
- ADHD Portfolio net revenue increased 23% to $57.8 million in fiscal 2024
- Adjusted EBITDA improved to $9.2 million, up $5.7 million from fiscal 2023
- Rx Segment gross margin improved to 75% in fiscal 2024 from 71% in fiscal 2023
- Company expects Rx Segment net revenue and adjusted EBITDA growth in fiscal 2025
- Successfully refinanced existing term loan and extended revolving credit facility on more favorable terms
- Consolidated net revenue decreased to $81.0 million from $107.4 million in the prior year
- Net loss of $15.8 million in fiscal 2024, or $2.86 net loss per share
- Pediatric Portfolio net revenue decreased to $7.3 million due to payor changes
- Q4 ADHD Portfolio net revenue decreased 13% to $13.8 million compared to Q4 fiscal 2023
- Cash and cash equivalents decreased to $20.0 million from $23.0 million at the end of fiscal 2023
Insights
Aytu BioPharma's fiscal 2024 results show mixed performance. The consolidated net revenue decreased to
The company's focus on its Rx Segment has led to improved profitability, with consolidated adjusted EBITDA increasing to
The cash position of
Looking ahead, management expects Rx Segment net revenue and adjusted EBITDA growth in fiscal 2025, which is a positive outlook. However, investors should monitor the performance of the Pediatric Portfolio, which has faced challenges due to payer changes but shows early signs of recovery with a
Aytu BioPharma's strategic repositioning as a specialty pharmaceutical company focused on prescription therapeutics appears to be gaining traction. The wind-down of the Consumer Health Segment, completed in July 2024, aligns with the company's goal of improving operating cash flows and driving long-term stockholder value.
The ADHD Portfolio's strong performance, with a
However, the Pediatric Portfolio faces challenges due to payer changes, which have significantly impacted prescriptions. The recent
The company's focus on operational efficiencies and cost-saving measures has led to a substantial improvement in adjusted EBITDA. This financial discipline, combined with the strategic focus on the higher-margin Rx Segment, positions Aytu for potential profitability improvements in the coming fiscal year.
Investors should closely monitor the company's ability to execute on its growth strategies, particularly in expanding prescription demand and improving coverage across its product portfolio. The success of these initiatives will be critical in achieving the projected revenue and adjusted EBITDA growth for fiscal 2025.
Full year fiscal 2024 consolidated net revenue of
Full year fiscal 2024 ADHD Portfolio net revenue up
Full year fiscal 2024 adjusted EBITDA1 improved to
Company expects Rx Segment net revenue and adjusted EBITDA growth in fiscal 2025 from current levels
Company to host conference call and webcast today, September 26, 2026, at 4:30 p.m. Eastern time
DENVER, CO / ACCESSWIRE / September 26, 2024 / Aytu BioPharma, Inc. (the "Company" or "Aytu") (Nasdaq:AYTU), a pharmaceutical company focused on commercializing novel therapeutics, today announced operational and financial results for the fiscal 2024 full year and fourth quarter.
Full Year Fiscal 2024 Highlights
Consolidated net revenue was
$81.0 million versus$107.4 million in the prior year period. The change primarily reflects the Company's wind down of its Consumer Health Segment as part of the strategic mandate to focus its business solely on its Rx Segment, in an effort to drive long-term stockholder value.ADHD Portfolio (Adzenys XR-ODT® and Cotempla XR-ODT®) net revenue increased
23% to$57.8 million versus$46.9 million in fiscal 2023. The Company expects net revenue growth across the Rx Segment in fiscal 2025.Rx Segment gross margin improved to
75% in fiscal 2024 compared to71% in fiscal 2023.Consumer Health Segment net revenue during fiscal 2024 was
$15.8 million , a decrease of53% versus fiscal 2023, in line with the Company's strategy to discontinue the Consumer Health Segment. As previously announced, the Company completed the wind down and divestiture its Consumer Health Segment in July 2024.Net loss during fiscal 2024 was
$15.8 million , or$2.86 net loss per share, compared to a net loss of$17.1 million , or$5.11 net loss per share, in fiscal 2023.Consolidated adjusted EBITDA was
$9.2 million in fiscal 2024 compared to$3.5 million in fiscal 2023. The Company expects adjusted EBITDA growth in fiscal 2025.Cash and cash equivalents were
$20.0 million at June 30, 2024, compared to$23.0 million at June 30, 2023.Successfully refinanced existing term loan and extended revolving credit facility on more favorable terms to the Company. In addition, the Company received
$3.5 million of additional capital through the exercise of warrants, a portion of which was used to pay down the term loan indebtedness.
Q4 Fiscal 2024 Highlights
Consolidated net revenue was
$18.0 million versus$30.7 million in the prior year period and reflects the Company's continued planned wind down of its Consumer Health Segment and change in payor coverage, which impacted the Pediatric Portfolio. Pediatric Portfolio unit sales have grown115% from July 1, 2024, to September 25, 2024.ADHD Portfolio (Adzenys XR-ODT® and Cotempla XR-ODT®) net revenue decreased
13% to$13.8 million versus$15.9 million in Q4 fiscal 2023, reflecting timing differences between the third and fourth quarters of the prior year's period. Net revenue for the ADHD Portfolio increased8% to$26.1 million in the second half of fiscal 2024 versus$24.1 million in the second half of fiscal 2023.Rx Segment gross margin improved to
76% in Q4 2024 compared to75% in Q4 2023.Consumer Health Segment net revenue during Q4 2024 was
$3.4 million , a decrease of54% versus Q4 2023, in line with the Company's strategy to discontinue the Consumer Health Segment. As previously announced, the Company completed the wind down and divestiture its Consumer Health Segment in July 2024.Net loss during Q4 2024 was
$4.6 million , or$0.82 net loss per share, compared to a net loss of$2.5 million , or$0.59 net loss per share, in Q4 2023.Consolidated adjusted EBITDA was
$1.5 million in Q4 2024 compared to$7.7 million in Q4 2023.
Management Discussion
"During fiscal 2024, we continued to successfully reposition Aytu as a growing specialty pharmaceutical company focused on commercializing novel prescription therapeutics. Over the past year, we successfully wound down and subsequently announced the sale of our Consumer Health business, which was completed in July 2024. This renewed focus on our higher-margin Rx Segment, coupled with the successful implementation of a number of cost saving initiatives, resulted in consolidated adjusted EBITDA of
"Within our Rx Segment, our ADHD Portfolio net revenue increased
"The strategic and operational initiatives we have implemented have allowed us to maintain a strong cash position, which was in excess of
Non-Core Business Update
In June 2023, the Company announced that it had instituted a strategic mandate focusing its business solely on its Rx Segment, in an effort to drive long-term stockholder value. The Company has generated positive adjusted EBITDA for both fiscal 2024 and fiscal 2023, as well as for eight of the last reported nine quarters for Rx, excluding the Consumer Health Segment and pipeline R&D (the "Rx Business"). This concentration on the Rx Business follows the successful completion of the wind down and divestiture of the Consumer Health Segment in July of 2024.
This goal of emphasizing profitability was initially started with the indefinite suspension of all pipeline clinical development programs announced in October 2022 to minimize research and development expense until such time that the Company can fund those efforts with internally generated cash flows or through strategic partnerships. During fiscal 2023, the Consumer Health Segment contributed adjusted EBITDA of negative
Segment Reporting
| Three Months Ended |
|
| Twelve Months Ended |
| |||||||||||
| June 30, |
|
| June 30, |
| |||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
| (in thousands) |
|
| (in thousands) |
| |||||||||||
Rx Segment net revenue |
| $ | 14,593 |
|
| $ | 23,313 |
|
| $ | 65,183 |
|
| $ | 73,799 |
|
Consumer Health Segment net revenue |
|
| 3,383 |
|
|
| 7,419 |
|
|
| 15,819 |
|
|
| 33,600 |
|
Total net revenue |
| $ | 17,976 |
|
| $ | 30,732 |
|
| $ | 81,002 |
|
| $ | 107,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
ADHD Portfolio net revenue |
| $ | 13,758 |
|
| $ | 15,878 |
|
| $ | 57,784 |
|
| $ | 46,855 |
|
Pediatric Portfolio net revenue |
|
| 841 |
|
|
| 7,225 |
|
|
| 7,280 |
|
|
| 25,377 |
|
Other (1) |
|
| (6 | ) |
|
| 210 |
|
|
| 119 |
|
|
| 1,567 |
|
Total Rx Segment net revenue |
| $ | 14,593 |
|
| $ | 23,313 |
|
| $ | 65,183 |
|
| $ | 73,799 |
|
(1) Other includes discontinued or deprioritized products.
Full Year Fiscal 2024 Financial Results
Net revenue for the full year fiscal 2024 was
Net revenue from the Rx Segment for the full year of fiscal 2024 was
Net revenue from the Consumer Health Segment was
Consolidated gross profit was
Operating expenses, excluding amortization of intangible assets, restructuring costs, impairment expense and gain from contingent consideration, were
Loss from operations for full year fiscal 2024 was
Net loss for full year fiscal 2024 was
Consolidated adjusted EBITDA was
Cash and cash equivalents at June 30, 2024, were
Q4 Fiscal 2024 Financial Results
Net revenue for the fourth quarter of fiscal 2024 was
Net revenue from the Rx Segment in the fourth quarter of fiscal 2024 was
Net revenue from the Consumer Health Segment was
Consolidated gross profit was
Operating expenses, excluding amortization of intangible assets, restructuring costs, impairment expense and gain from contingent consideration, were
Loss from operations during the fourth quarter of fiscal 2024 was
Net loss during the fourth quarter of fiscal 2024 was
Consolidated adjusted EBITDA was
Conference Call Details
Date and Time: Thursday, September 26, 2024, at 4:30 p.m. Eastern time.
Call-in Information: Interested parties can access the conference call by dialing (888) 506-0062 for United States callers or +1 (973) 528-0011 for international callers and using the participant access code 216512.
Webcast Information: The webcast will be accessible live and archived at https://www.webcaster4.com/Webcast/Page/2142/51231, and accessible on the Investors section of the Company's website at https://investors.aytubio.com/ under Events & Presentations.
Replay: A teleconference replay of the call will be available until October 10, 2024, at (877) 481-4010 for United States callers or +1 (919) 882-2331 for international callers and using replay access code 51231.
About Aytu BioPharma, Inc.
Aytu is a pharmaceutical company focused on commercializing novel therapeutics. The Company's prescription products include Adzenys XR-ODT® (amphetamine) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) and Cotempla XR-ODT® (methylphenidate) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) for the treatment of attention deficit hyperactivity disorder (ADHD), Karbinal® ER (carbinoxamine maleate), an extended-release antihistamine suspension indicated to treat numerous allergic conditions, and Poly-Vi-Flor® and Tri-Vi-Flor®, two complementary fluoride-based prescription vitamin product lines available in various formulations for infants and children with fluoride deficiency. To learn more, please visit aytubio.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). All statements other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. All statements other than statements of historical facts contained in this presentation, are forward-looking statements. These statements are predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others, risks associated with: the Company's plans relating to the Company's ability to efficiently wind down the Consumer Health Segment, the Company's ability to complete the manufacturing transfer of Adzenys XR-ODT® and Cotempla XR-ODT®, the Company's overall financial and operational performance, potential adverse changes to the Company's financial position or our business, the results of operations, strategy and plans, changes in capital markets and the ability of the Company to finance operations in the manner expected, risks relating to gaining market acceptance of our products, our partners performing their required activities, our anticipated future cash position, regulatory and compliance challenges and future events under current and potential future collaborations. We also refer you to (i) the risks described in "Risk Factors" in Part I, Item 1A of our most recent Annual Report on Form 10‑K and in the other reports and documents it files with the United States Securities and Exchange Commission.
Footnote 1
Aytu uses the term adjusted EBITDA, which is a term not defined under United States generally accepted accounting principles ("U.S. GAAP"). The Company uses this term because it is a widely accepted financial indicator utilized to analyze and compare companies on the basis of operating performance. The Company believes that presenting adjusted EBITDA by certain categories allows investors to evaluate the various performance of these categories. The Company's method of computation of adjusted EBITDA may or may not be comparable to other similarly titled measures used by other companies. We believe that net income (loss) is the performance measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted EBITDA. See below for a reconciliation of net income (loss) to adjusted EBITDA.
Contacts for Investors
Mark Oki, Chief Financial Officer
Aytu BioPharma, Inc.
moki@aytubio.com
Robert Blum or Roger Weiss
Lytham Partners
aytu@lythampartners.com
Aytu BioPharma, Inc.
Consolidated Statements of Operations
(in thousands, except share and per share data)
| Three Months Ended |
|
| Twelve Months Ended |
| |||||||||||
| June 30, |
|
| June 30, |
| |||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
Net revenue |
| $ | 17,976 |
|
| $ | 30,732 |
|
| $ | 81,002 |
|
| $ | 107,399 |
|
Cost of sales |
|
| 6,070 |
|
|
| 12,168 |
|
|
| 26,416 |
|
|
| 40,767 |
|
Gross profit |
|
| 11,906 |
|
|
| 18,564 |
|
|
| 54,586 |
|
|
| 66,632 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling and marketing |
|
| 6,411 |
|
|
| 7,982 |
|
|
| 26,958 |
|
|
| 41,448 |
|
General and administrative |
|
| 4,677 |
|
|
| 6,113 |
|
|
| 22,514 |
|
|
| 28,630 |
|
Research and development |
|
| 1,044 |
|
|
| 465 |
|
|
| 2,791 |
|
|
| 4,095 |
|
Amortization of intangible assets |
|
| 1,303 |
|
|
| 1,195 |
|
|
| 5,212 |
|
|
| 4,788 |
|
Restructuring costs |
|
| 2,121 |
|
|
| - |
|
|
| 2,365 |
|
|
| - |
|
Impairment expense |
|
| - |
|
|
| 3,105 |
|
|
| - |
|
|
| 5,705 |
|
Gain from contingent consideration |
|
| - |
|
|
| (465 | ) |
|
| - |
|
|
| (969 | ) |
Total operating expenses |
|
| 15,556 |
|
|
| 18,395 |
|
|
| 59,840 |
|
|
| 83,697 |
|
(Loss) income from operations |
|
| (3,650 | ) |
|
| 169 |
|
|
| (5,254 | ) |
|
| (17,065 | ) |
Other income, net |
|
| 48 |
|
|
| 82 |
|
|
| 568 |
|
|
| 184 |
|
Interest expense |
|
| (1,189 | ) |
|
| (1,334 | ) |
|
| (4,792 | ) |
|
| (4,963 | ) |
Derivative warrant liabilities gain (loss) |
|
| 1,463 |
|
|
| (1,374 | ) |
|
| (4,004 | ) |
|
| 4,793 |
|
Loss on extinguishment of debt |
|
| (594 | ) |
|
| - |
|
|
| (594 | ) |
|
| - |
|
Loss before income tax |
|
| (3,922 | ) |
|
| (2,457 | ) |
|
| (14,076 | ) |
|
| (17,051 | ) |
Income tax expense |
|
| (695 | ) |
|
| - |
|
|
| (1,768 | ) |
|
| - |
|
Net loss |
| $ | (4,617 | ) |
| $ | (2,457 | ) |
| $ | (15,844 | ) |
| $ | (17,051 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted weighted-average common shares outstanding |
|
| 5,619,726 |
|
|
| 4,144,098 |
|
|
| 5,537,957 |
|
|
| 3,339,906 |
|
Basic and diluted net loss per share |
| $ | (0.82 | ) |
| $ | (0.59 | ) |
| $ | (2.86 | ) |
| $ | (5.11 | ) |
Aytu BioPharma, Inc.
Consolidated Balance Sheets
(in thousands, except share data)
| June 30, |
| ||||||
| 2024 |
|
| 2023 |
| |||
ASSETS |
|
|
|
|
|
| ||
Current assets: |
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 20,006 |
|
| $ | 22,985 |
|
Accounts receivable, net |
|
| 23,617 |
|
|
| 28,937 |
|
Inventories |
|
| 12,633 |
|
|
| 11,995 |
|
Prepaid expenses and other current assets |
|
| 5,635 |
|
|
| 7,162 |
|
Total current assets |
|
| 61,891 |
|
|
| 71,079 |
|
Non-current assets: |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
| 693 |
|
|
| 1,815 |
|
Operating lease right-of-use assets |
|
| 829 |
|
|
| 2,054 |
|
Intangible assets, net |
|
| 52,453 |
|
|
| 58,970 |
|
Other non-current assets |
|
| 2,229 |
|
|
| 2,545 |
|
Total non-current assets |
|
| 56,204 |
|
|
| 65,384 |
|
Total assets |
| $ | 118,095 |
|
| $ | 136,463 |
|
|
|
|
|
|
|
|
| |
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 10,440 |
|
| $ | 13,478 |
|
Accrued liabilities |
|
| 38,574 |
|
|
| 46,799 |
|
Revolving credit facility |
|
| 2,395 |
|
|
| 1,563 |
|
Current portion of debt |
|
| 1,857 |
|
|
| 85 |
|
Other current liabilities |
|
| 8,962 |
|
|
| 7,090 |
|
Total current liabilities |
|
| 62,228 |
|
|
| 69,015 |
|
Non-current liabilities: |
|
|
|
|
|
|
|
|
Debt, net of current portion |
|
| 10,877 |
|
|
| 14,713 |
|
Derivative warrant liabilities |
|
| 12,745 |
|
|
| 6,403 |
|
Other non-current liabilities |
|
| 4,529 |
|
|
| 6,975 |
|
Total non-current liabilities |
|
| 28,151 |
|
|
| 28,091 |
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
Preferred stock, par value $.0001; 50,000,000 shares authorized; no shares issued or outstanding |
|
| - |
|
|
| - |
|
Common stock, par value $.0001; 200,000,000 shares authorized; 5,972,638 and 5,517,174 shares issued and outstanding, respectively |
|
| 1 |
|
|
| 1 |
|
Additional paid-in capital |
|
| 347,688 |
|
|
| 343,485 |
|
Accumulated deficit |
|
| (319,973 | ) |
|
| (304,129 | ) |
Total stockholders' equity |
|
| 27,716 |
|
|
| 39,357 |
|
Total liabilities and stockholders' equity |
| $ | 118,095 |
|
| $ | 136,463 |
|
Aytu BioPharma, Inc.
Reconciliation of Net Loss to Adjusted EBITDA - Twelve Months Ended
(in thousands)
| Twelve Months Ended |
| ||||||||||||||
| June 30, 2024 |
| ||||||||||||||
| Rx |
|
| Consumer |
|
| Pipeline |
|
| Consolidated |
| |||||
Net loss - GAAP |
| $ | (11,163 | ) |
| $ | (3,698 | ) |
| $ | (983 | ) |
| $ | (15,844 | ) |
Depreciation and amortization |
|
| 5,910 |
|
|
| 1,547 |
|
|
| - |
|
|
| 7,457 |
|
Stock-based compensation expense |
|
| 2,374 |
|
|
| 540 |
|
|
| - |
|
|
| 2,914 |
|
Other income, net |
|
| (568 | ) |
|
| - |
|
|
| - |
|
|
| (568 | ) |
Interest expense |
|
| 4,757 |
|
|
| 35 |
|
|
| - |
|
|
| 4,792 |
|
Derivative warrant liabilities loss |
|
| 4,004 |
|
|
| - |
|
|
| - |
|
|
| 4,004 |
|
One-time transactions |
|
| 1,001 |
|
|
| - |
|
|
| - |
|
|
| 1,001 |
|
Income tax expense |
|
| 1,768 |
|
|
| - |
|
|
| - |
|
|
| 1,768 |
|
Inventory impairment due to wind down |
|
| - |
|
|
| 730 |
|
|
| - |
|
|
| 730 |
|
Restructuring costs |
|
| 2,156 |
|
|
| 209 |
|
|
| - |
|
|
| 2,365 |
|
Loss on extinguishment of debt |
|
| 594 |
|
|
| - |
|
|
| - |
|
|
| 594 |
|
Adjusted EBITDA - non-GAAP |
| $ | 10,833 |
|
| $ | (637 | ) |
| $ | (983 | ) |
| $ | 9,213 |
|
| Twelve Months Ended |
| ||||||||||||||
| June 30, 2023 |
| ||||||||||||||
| Rx |
|
| Consumer |
|
| Pipeline |
|
| Consolidated |
| |||||
Net loss - GAAP |
| $ | (4,694 | ) |
| $ | (9,761 | ) |
| $ | (2,596 | ) |
| $ | (17,051 | ) |
Depreciation and amortization |
|
| 6,271 |
|
|
| 1,116 |
|
|
| - |
|
|
| 7,387 |
|
Stock-based compensation expense |
|
| 5,699 |
|
|
| 324 |
|
|
| 22 |
|
|
| 6,045 |
|
Other income, net |
|
| (184 | ) |
|
| - |
|
|
| - |
|
|
| (184 | ) |
Interest expense |
|
| 4,908 |
|
|
| 55 |
|
|
| - |
|
|
| 4,963 |
|
Gain from contingent consideration |
|
| (578 | ) |
|
| (391 | ) |
|
| - |
|
|
| (969 | ) |
Derivative warrant liabilities gain |
|
| (4,793 | ) |
|
| - |
|
|
| - |
|
|
| (4,793 | ) |
One-time transactions |
|
| 300 |
|
|
| - |
|
|
| - |
|
|
| 300 |
|
Impairment expense |
|
| 2,730 |
|
|
| 5,094 |
|
|
| - |
|
|
| 7,824 |
|
Adjusted EBITDA - non-GAAP |
| $ | 9,659 |
|
| $ | (3,563 | ) |
| $ | (2,574 | ) |
| $ | 3,522 |
|
Aytu BioPharma, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITDA - Three Months Ended
(in thousands)
| Three Months Ended |
| ||||||||||||||
| June 30, 2024 |
| ||||||||||||||
| Rx |
|
| Consumer Health |
|
| Pipeline |
|
| Consolidated |
| |||||
Net loss - GAAP |
| $ | (2,633 | ) |
| $ | (1,385 | ) |
| $ | (599 | ) |
| $ | (4,617 | ) |
Depreciation and amortization |
|
| 1,398 |
|
|
| 385 |
|
|
| - |
|
|
| 1,783 |
|
Stock-based compensation expense |
|
| 243 |
|
|
| 110 |
|
|
| - |
|
|
| 353 |
|
Other income, net |
|
| (48 | ) |
|
| - |
|
|
| - |
|
|
| (48 | ) |
Interest expense |
|
| 1,181 |
|
|
| 8 |
|
|
| - |
|
|
| 1,189 |
|
Derivative warrant liabilities gain |
|
| (1,463 | ) |
|
| - |
|
|
| - |
|
|
| (1,463 | ) |
One-time transactions |
|
| 150 |
|
|
| - |
|
|
| - |
|
|
| 150 |
|
Income tax expense |
|
| 695 |
|
|
| - |
|
|
| - |
|
|
| 695 |
|
Inventory impairment due to wind down |
|
| - |
|
|
| 730 |
|
|
| - |
|
|
| 730 |
|
Restructuring costs |
|
| 1,912 |
|
|
| 209 |
|
|
| - |
|
|
| 2,121 |
|
Loss on extinguishment of debt |
|
| 594 |
|
|
| - |
|
|
| - |
|
|
| 594 |
|
Adjusted EBITDA - non-GAAP |
| $ | 2,029 |
|
| $ | 57 |
|
| $ | (599 | ) |
| $ | 1,487 |
|
| Three Months Ended |
| ||||||||||||||
| June 30, 2023 |
| ||||||||||||||
|
| Rx |
|
| Consumer |
|
| Pipeline |
|
| Consolidated |
| ||||
Net income (loss) - GAAP |
| $ | 3,677 |
|
| $ | (6,098 | ) |
| $ | (36 | ) |
| $ | (2,457 | ) |
Depreciation and amortization |
|
| 1,562 |
|
|
| 274 |
|
|
| - |
|
|
| 1,836 |
|
Stock-based compensation expense |
|
| 784 |
|
|
| 115 |
|
|
| - |
|
|
| 899 |
|
Impairment expense |
|
| 130 |
|
|
| 5,094 |
|
|
| - |
|
|
| 5,224 |
|
Other income, net |
|
| (82 | ) |
|
| - |
|
|
| - |
|
|
| (82 | ) |
Interest expense |
|
| 1,287 |
|
|
| 47 |
|
|
| - |
|
|
| 1,334 |
|
Gain from contingent consideration |
|
| (465 | ) |
|
| - |
|
|
| - |
|
|
| (465 | ) |
Derivative warrant liabilities loss |
|
| 1,374 |
|
|
| - |
|
|
| - |
|
|
| 1,374 |
|
Adjusted EBITDA - non-GAAP |
| $ | 8,267 |
|
| $ | (568 | ) |
| $ | (36 | ) |
| $ | 7,663 |
|
SOURCE: Aytu BioPharma
View the original press release on accesswire.com
FAQ
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