earnings
confidence high
sentiment positive
materiality 0.70
Daré Bioscience FY2025: $24.7M cash, $20.8M equity proceeds; DARE to PLAY revenue expected Q2 2026
Dare Bioscience, Inc.
- Cash and cash equivalents $24.7M at Dec 31, 2025; working capital $3.4M.
- Received $20.8M net from at-the-market equity program and equity line in 2025.
- Non-dilutive funding: $13.6M Gates Foundation, $4.5M ARPA-H, $1.3M NIH in 2025.
- SG&A $8.8M (down from $9.2M in 2024); R&D $5.5M (down from $14.3M); contra-R&D $16.4M from grants.
- Expects DARE to PLAY product revenue and Flora Sync LF5 consumer revenue to begin Q2 2026.