Evofem reports Q1 preliminary: Phexxi sales up 35% to $5.8M, operating loss down 85%

Evofem Biosciences, Inc.

Net product sales of Phexxi rose >35% to ~$5.8M in Q1 2023 from $4.3M in Q1 2022.
Total operating expenses cut >70% to ~$9.4M vs $33.2M in prior-year quarter.
Loss from operations decreased >85% to ~$3.6M from $28.9M a year ago.
Company on track for quarterly EBITDA breakeven by year-end 2023.
Regained compliance with debt covenants via May 18 reverse stock split.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Evofem Biosciences, Inc. reported the first quarter of 2023 results: revenue approximately $5.8 million. Guidance reaffirmed.

Period: the first quarter of 2023
Revenue: approximately $5.8 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

hormone-free prescription contraceptive gel, Phexxi ® (lactic acid, citric acid and potassium bitartrate) . ● Increased Phexxi net product sales more than 35% to approximately $5.8 million in Q1 2023, versus $4.3 million in Q1 2022. ● Reduced total operating expenses more than 70% to approximately $9.4 million, versus $33.2 million in Q1 2022. ● Decreased loss

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Source: SEC EDGAR

accession 0001493152-23-019752

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