Aytu BioPharma(AYTU) - 2026 Q2 - Quarterly Results

Financial Performance - Total net revenue for Q2 fiscal 2026 was $15.2 million, a decrease from $16.2 million in Q2 fiscal 2025[6] - The ADHD Portfolio net revenue was $13.2 million, down from $13.8 million in the prior year, attributed to a shift in marketing focus towards EXXUA[12] - Pediatric Portfolio net revenue decreased to $1.7 million from $2.4 million in the prior year, also due to reduced marketing efforts[13] - Net revenue for the three months ended December 31, 2025, was $15,165,000, a decrease of 6.5% from $16,221,000 in the same period of 2024[54] - Gross profit for the same period was $9,624,000, down from $10,786,000, reflecting a gross margin decrease[54] - The net loss for the three months ended December 31, 2025, was $10,584,000, compared to a net income of $788,000 in the same period of 2024[54] - Basic net loss per share for continuing operations was $(1.05), compared to a profit of $0.11 in the prior year[54] - The company reported a net loss of $10.6 million, compared to a net income of $0.8 million in the prior year period[16] Cash and Assets - Cash and cash equivalents stood at $30.0 million as of December 31, 2025, down from $31.0 million at June 30, 2025[17] - Cash and cash equivalents as of December 31, 2025, were $30,025,000, slightly down from $30,952,000[56] - Total assets decreased to $122,000,000 from $124,177,000, indicating a reduction in overall asset base[56] - Total stockholders' equity decreased to $14,201,000 from $18,966,000, reflecting a decline in equity position[56] Operating Expenses - Total operating expenses were $11,594,000, a reduction from $12,481,000, indicating a cost management effort[54] - Adjusted EBITDA was $(0.8) million, compared to $1.3 million in Q2 fiscal 2025, primarily due to investments in the EXXUA launch[17] - Adjusted EBITDA was $(802) for the current period, down from $1,273 in the previous year[58] - Interest expense decreased to $560 from $1,079 year-over-year[58] - Stock-based compensation expense increased to $283 from $151 year-over-year[58] - Depreciation and amortization expenses decreased to $885 from $1,292 year-over-year[58] - The company incurred restructuring costs of $1,317 in the previous year, which were not present in the current period[58] EXXUA Launch and Strategy - EXXUA generated initial net revenue of $0.2 million during the quarter, following its commercial launch in mid-December 2025[11] - Aytu has deployed a 40+ person sales force targeting approximately 5,500 healthcare practitioners for EXXUA[9] - The company aims to capture a share of the over $22 billion U.S. prescription MDD market with EXXUA[5] - Management emphasized a comprehensive launch strategy for EXXUA, focusing on prescriber adoption and brand growth[8] Risk and Safety Monitoring - The company is actively monitoring for risks associated with the use of EXXUA, including QT prolongation and serotonin syndrome, as part of its safety protocols[40] Other Financial Metrics - The company reported a derivative warrant liabilities loss of $8,244,000 for the quarter, compared to a gain of $3,016,000 in the previous year[54] - Other income, net, showed a loss of $(190), worsening from a loss of $(140) year-over-year[58] - The income tax benefit was not applicable in the current period, while there was a benefit of $(283) in the previous year[58]