---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-028670"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T11:19:24.805050+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Evofem Q2 net product sales fall 59% to $2.5M; reduces operating expenses 68%

## Summary
- Net product sales $2.5M, down 59% YoY; $1.6M in product returns of short-dated shelf life impacted revenue.
- Total operating expenses decreased 68% to $9.8M; selling & marketing down 82% to $2.2M.
- Net loss improved to $8.6M ($5.43/share) from $124.1M loss ($580.48/share) in prior year Q2.
- Cash at June 30, 2023: $0.6M, down from $4.8M at Dec 31, 2022; raised $1.0M in July and $0.5M in August via convertible notes.
- Filed Series E-1 Preferred Stock; investors exchanged $1.8M notes for 1,800 shares convertible at $0.40 per share.

## SEC filing metadata
- accession: 0001493152-23-028670
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1618835/000149315223028670/0001493152-23-028670-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315223028670/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-028670
- JSON: https://secwatch.observer/filing/0001493152-23-028670.json
- Plain text: https://secwatch.observer/filing/0001493152-23-028670.txt

## Key facts
- Earnings Releases
  Evofem Biosciences, Inc. reported the three and six months ended June 30, 2023 results: revenue $2.5 million, net income $8.6 million, EPS $(5.43) per share. Guidance reaffirmed.
  - Period: the three and six months ended June 30, 2023
  - Revenue: $2.5 million
  - Net income: $8.6 million
  - EPS: $(5.43) per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: and we remain on track to deliver our third consecutive year of Phexxi net sales growth.” Financial Results For the three months ended June 30, 2023, net product sales were $2.5 million compared to $6.0 million in the prior year period. The 59% decrease was primarily due to lower Phexxi ® (lactic acid, citric acid and potassium bitartrate) ex-factory unit
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223028670/0001493152-23-028670-index.htm

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