---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-021642"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T22:47:32.440049+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Evofem Q1 net product revenue up 37% to $5.8M; operating loss down 88%; reaffirms path to EBITDA break-even

## Summary
- Phexxi net product sales $5.8M (+37% YoY); total operating expenses $9.4M (-72% YoY).
- Loss from operations decreased 88% to $3.6M; net loss $(2.4)M ($1.85/share) vs $(32.0)M ($360.25/share).
- Cash at March 31: $1.5M (restricted+unrestricted) down from $4.8M; on track for quarterly EBITDA break-even by year-end 2023.
- Appointed Ivy Zhang as CFO effective April 13, 2023; effectuated reverse stock split on May 18, 2023.
- Filed patent infringement suit against Padagis on June 1, 2023; triggers 30-month FDA stay on generic Phexxi approval.

## SEC filing metadata
- accession: 0001493152-23-021642
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000149315223021642/0001493152-23-021642-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315223021642/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-021642
- JSON: https://secwatch.observer/filing/0001493152-23-021642.json
- Plain text: https://secwatch.observer/filing/0001493152-23-021642.txt

## Key facts
- Earnings Releases
  Evofem Biosciences, Inc. reported first quarter of 2023 results: revenue $5.8 million, net income $(2.4) million, EPS $(1.85) per share. Guidance reaffirmed.
  - Period: first quarter of 2023
  - Revenue: $5.8 million
  - Net income: $(2.4) million
  - EPS: $(1.85) per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: contraceptive gel, Phexxi ® (lactic acid, citric acid and potassium bitartrate) . Highlights for and since the quarter include: ● Increased Phexxi net product sales 37% to $5.8 million. ● Reduced total operating expenses 72% to $9.4 million. ○ Implemented measures in March 2023 to further decrease operating expenses. ● Loss from operations decreased 88% to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223021642/0001493152-23-021642-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.