Evofem Biosciences FY2022 net product sales $16.8M (+104% YoY); net loss $(78.0M)

Evofem Biosciences, Inc.

2024-Q1 EPS reported -$1.85 revenue$5,809,000

Net product sales doubled to $16.8M in 2022 from $8.2M in 2021, driven by unit growth and promotional strategies.
Total operating expenses cut 42% to $101.0M, exceeding the stated $50M cost reduction goal.
Net loss attributable to common stockholders improved to $(78.0)M ($1.34/diluted share) from $(206.2)M ($23.63/share) in 2021.
Cash at Dec 31, 2022: $2.8M unrestricted; raised $1.8M from senior secured convertible notes in Q1 2023.
Appointed Ivy Zhang as CFO and Secretary effective April 13, 2023; targeting EBITDA break-even by year-end 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Evofem Biosciences, Inc. reported the year ended December 31, 2022 results: revenue $16.8 million, net income $(78.0) million, or $(1.34) per share, EPS $(1.34) per share.

Period: the year ended December 31, 2022
Revenue: $16.8 million
Net income: $(78.0) million, or $(1.34) per share
EPS: $(1.34) per share
Result: reported results

Exact text from the filing

citric acid and potassium bitartrate), has reported financial results for the year ended December 31, 2022. Highlights include: ● Increased Phexxi net product sales 104% to $16.8 million in 2022. ● Gained Phexxi coverage for more than 22.1 million new lives since January 1, 2023. ● More than 80% of Phexxi claims are now being approved (as of February 2023, the

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Source: SEC EDGAR

accession 0001493152-23-014059

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