Aytu BioPharma(US:AYTU)2025-05-14 20:07Revenue Performance - Net revenue for the three months ended March 31, 2025, increased by $4.4 million, or 32%, to $18.5 million compared to $14.0 million for the same period in 2024[141]. - Net revenue for the nine months ended March 31, 2025, increased by $0.7 million, or 1%, to $51.2 million compared to $50.6 million for the same period in 2024[142]. - The ADHD Portfolio generated $15.4 million in net revenue for the three months ended March 31, 2025, an increase of $3.1 million, or 25%, compared to $12.3 million in 2024[140]. - The Pediatric Portfolio net revenue increased by $1.3 million, or 77%, to $3.1 million for the three months ended March 31, 2025, compared to $1.7 million in 2024[140]. Profitability - Gross profit for the three months ended March 31, 2025, increased by $2.4 million, or 24%, to $12.8 million, while gross profit for the nine months decreased by $2.4 million, or 6%, to $35.6 million[143]. - The gross profit percentage was 69% for both the three and nine months ended March 31, 2025, down from 74% and 75% for the same periods in 2024[143]. Expenses - Selling and marketing expenses for the nine months ended March 31, 2025, decreased by $0.5 million, or 3%, compared to the same period in 2024[144]. - General and administrative expenses decreased by $0.7 million, or 15%, for the three months and by $2.2 million, or 14%, for the nine months ended March 31, 2025, compared to the same periods in 2024[145]. - Research and development expenses decreased by $0.4 million, or 73%, for the three months and by $0.6 million, or 36%, for the nine months ended March 31, 2025, compared to the same periods in 2024[146]. Restructuring and Costs - Restructuring costs for the nine months ended March 31, 2025, amounted to $2.1 million, while no restructuring costs were incurred for the three months[148]. Interest and Tax - Interest expense decreased by $0.4 million, or 28%, and $0.8 million, or 22%, for the three and nine months ended March 31, 2025, compared to the same periods in 2024, primarily due to the extinguishment of a $15.0 million term loan[150]. - The effective tax rate for income from continuing operations was negative 3.2% for the three months ended March 31, 2025, compared to negative 29.5% for the same period in 2024, influenced by changes in ownership and existing valuation allowances[152]. Cash Flow - Net cash used in operating activities totaled $4.7 million for the nine months ended March 31, 2025, primarily due to an increase in accounts receivable and prepaid expenses[161]. - Net cash provided by financing activities was $2.5 million for the nine months ended March 31, 2025, primarily from net proceeds received from the revolving credit facility[164]. Debt and Liabilities - The Eclipse Term Loan has a principal amount of $13.0 million with an interest rate of SOFR plus 7.0%, maturing on June 12, 2028[157]. - The Eclipse Revolving Loan allows borrowing up to $14.5 million at an interest rate of SOFR plus 4.5%, with a maturity date of June 12, 2028[158]. - As of March 31, 2025, the company had a remaining balance of $4.3 million accrued in other current liabilities related to the Tuzistra License Agreement[166]. - The company may be required to pay up to $67.5 million in regulatory and commercial-based earn-out payments to Rumpus, contingent on the completion of clinical development of AR101[168]. - The company has not entered into any off-balance sheet arrangements that would materially affect its financial condition[170].