Veru's contract with largest FC2 customer The Pill Club terminated after payment default

VERU INC.

The Pill Club accounted for 44% of Veru's net revenues in fiscal 2022 and 43% in 2021.
Veru has $3.9M in accounts receivable from The Pill Club, including $1.3M past due.
The Pill Club refused a binding shipment on March 29; contract auto-terminated after uncured default.
California AG settlement with The Pill Club may further impair its ability to purchase FC2.
Future FC2 revenue from The Pill Club expected to be substantially reduced or eliminated.

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