Aytu BioPharma(AYTU) - 2026 Q1 - Quarterly Results

Financial Performance - Total net revenue for Q1 Fiscal 2026 was $13.9 million, down from $16.6 million in Q1 Fiscal 2025, primarily due to a one-time rebate benefit of $3.3 million in the prior year [3]. - Net income increased to $2.0 million, or $0.21 per share, compared to $1.5 million, or $0.24 per share, in Q1 Fiscal 2025 [14]. - Adjusted EBITDA was $(0.6) million, a decrease from $1.9 million in the prior year, impacted by investments for the upcoming EXXUA launch [15]. - ADHD Portfolio net revenue was $13.2 million, down from $15.3 million in Q1 Fiscal 2025; excluding the rebate, it would have increased by 10% [10]. - Pediatric Portfolio net revenue decreased to $0.7 million from $1.3 million, attributed to manufacturing delays and reduced marketing focus [11]. - Gross profit was $9.2 million, representing 66% of net revenue, compared to 72% in the same quarter last year [12]. - Net revenue for the three months ended September 30, 2025, was $13,888 million, a decrease of 16.2% compared to $16,574 million in the same period of 2024 [29]. - Gross profit for the same period was $9,186 million, down from $11,985 million, reflecting a decline of 23.4% [29]. - Total operating expenses decreased to $10,690 million from $12,915 million, a reduction of 17.3% year-over-year [29]. - Net income for the three months ended September 30, 2025, was $1,965 million, compared to $1,474 million in 2024, representing an increase of 33.3% [29]. - Basic net income per share for continuing operations was $0.21, up from $0.18 in the prior year, an increase of 16.7% [29]. - Adjusted EBITDA for the three months ended September 30, 2025, was $(587) million, compared to $1,931 million in the same period of 2024 [33]. - The company reported a derivative warrant liabilities gain of $3,784 million, compared to $2,880 million in the prior year, an increase of 31.4% [29]. Assets and Liabilities - Cash and cash equivalents stood at $32.6 million as of September 30, 2025, an increase from $31.0 million at June 30, 2025 [15]. - Total current assets increased to $81,109 million from $79,179 million, a growth of 2.4% [31]. - Total liabilities decreased from $105,211 million to $101,817 million, a reduction of 3.2% [31]. - Stockholders' equity increased to $23,171 million from $18,966 million, reflecting a growth of 22.2% [31]. Product Launch and Strategy - The launch of EXXUA is on track for the fourth quarter of calendar 2025, targeting the $22 billion U.S. prescription MDD market [4]. - The method of use patent for EXXUA has been extended through September 2, 2030, enhancing the product's market exclusivity [5]. - The company is focused on KOL engagement, sales force training, and integration with the Aytu RxConnect® platform to ensure a successful launch of EXXUA [6].