# Aytu BioPharma (AYTU) Q4 2025 Financial Results Summary
Released on September 23, 2025, Aytu BioPharma, Inc. (Nasdaq: AYTU) has reported its operational and financial results for the fourth quarter and full year of fiscal 2025, alongside updates regarding the launch of their new product EXXUA™.
## Full Year Fiscal 2025 Highlights
– **Net Revenue**: Increased by **2%** to **$66.4 million** compared to **$65.2 million** in fiscal 2024.
– **ADHD Portfolio Revenue**: Reported **$57.6 million**, slightly down from **$57.8 million** in fiscal 2024.
– **Pediatric Portfolio Revenue**: Increased substantially by **20.5%** to **$8.8 million** from **$7.3 million** in fiscal 2024.
– **Net Loss**: Reduced to **$13.6 million** from **$15.8 million** in the prior year.
– **Adjusted EBITDA**: Decreased to **$9.2 million** compared to **$10.8 million** in fiscal 2024.
– **Cash Position**: Reported **$31.0 million** in cash and cash equivalents as of June 30, 2025.
## Q4 Fiscal 2025 Highlights
– **Net Revenue**: Increased by **4%** to **$15.1 million** from **$14.6 million** in Q4 fiscal 2024.
– **ADHD Portfolio Revenue**: Down to **$13.1 million** from **$13.8 million** in the same quarter last year.
– **Pediatric Portfolio Revenue**: Surged significantly by **150%** to **$2.0 million** compared to **$0.8 million** in Q4 fiscal 2024.
– **Net Loss**: Increased to **$19.8 million** from **$4.6 million** in Q4 fiscal 2024.
– **Adjusted EBITDA**: Remained steady at **$2.0 million** in both Q4 fiscal 2025 and Q4 fiscal 2024.
## EXXUA Commercial Launch
– Aytu has entered an exclusive agreement to commercialize EXXUA, a first-in-class selective serotonin 5HT1a receptor agonist for major depressive disorder.
– **Launch Timeline**: Anticipated in Q4 calendar 2025.
– The company believes EXXUA will be a major growth driver as it approaches the **$22 billion** U.S. prescription MDD market.
## Key Launch Activities for EXXUA
– Finalizing product manufacturing, labeling, serialization, and logistics.
– Engagement with key opinion leaders in the market.
– Refining sales targeting and physician outreach strategies.
– Preparing promotional materials and product positioning.
## Financial Performance Overview
### Full Year Financial Overview
– **Gross Profit**: For fiscal 2025, gross profit was **$45.8 million**, or **69%** of net revenue, down from **$49.1 million** or **75%** in the prior year. This decrease was attributed to increased cost of sales.
– **Operating Expenses**: Fell to **$39.6 million** from **$44.8 million**, due to ongoing cost reduction initiatives and improved operational efficiencies.
– **Net Income from Discontinued Operations**: Increased to **$0.6 million** from a net loss of **$3.3 million** in the prior year.
### Q4 Financial Overview
– **Gross Profit**: Reported as **$10.3 million**, or **68%** of net revenue, compared to **$11.1 million** or **76%** in Q4 fiscal 2024.
– **Operating Expenses**: Reduced to **$8.7 million** from **$10.5 million** in the same quarter last year.
– **Net Income from Discontinued Operations**: Improved to **$0.1 million** over a loss of **$1.2 million** in Q4 fiscal 2024.
## Summary of Financial Position
– **Total Assets**: At June 30, 2025, total assets reached **$124.2 million**, up from **$118.1 million** in the previous year.
– **Total Liabilities**: Total liabilities stood at **$105.2 million** compared to **$90.6 million** in the previous year.
## Dividend and Share Repurchase Information
The company did not declare any quarterly dividends or perform any share repurchases during this period.
## Conclusion
Aytu BioPharma’s performance in Q4 and full fiscal year 2025 reflects both challenges and opportunities as it prepares to launch EXXUA, aiming to capture a significant share of the growing MDD market. The results showcase a stabilization in revenue across their existing portfolios while navigating ongoing operational costs.
| Three Months Ended | Twelve Months Ended | |||
|---|---|---|---|---|
| June 30, 2025 | 2024 | June 30, 2025 | 2024 | |
| Net revenue | $ 15,135 | $ 14,593 | $ 66,382 | $ 65,183 |
| Cost of goods sold | 4,881 | 3,541 | 20,551 | 16,129 |
| Gross profit | 10,254 | 11,052 | 45,831 | 49,054 |
| Operating expenses: | ||||
| Selling and marketing | 4,781 | 5,422 | 20,906 | 22,083 |
| General and administrative | 3,696 | 4,028 | 17,379 | 19,954 |
| Research and development | 216 | 1,042 | 1,326 | 2,769 |
| Amortization of intangible assets | 921 | 921 | 3,683 | 3,683 |
| Restructuring costs | — | 1,912 | 2,101 | 2,156 |
| Impairment expense | 8,263 | — | 8,263 | — |
| Total operating expenses | 17,877 | 13,325 | 53,658 | 50,645 |
| Loss from operations | (7,623) | (2,273) | (7,827) | (1,591) |
| Other (expense) income, net | (1,230) | 120 | (512) | 870 |
| Interest expense | (730) | (1,253) | (3,703) | (5,059) |
| Derivative warrant liabilities (loss) | (9,860) | 1,463 | (1,703) | (4,004) |
| Loss on extinguishment of debt | — | (594) | — | (594) |
| Loss from continuing operations before | (19,443) | (2,537) | (13,745) | (10,378) |
| income tax expense | (437) | (841) | (437) | (2,142) |
| Net loss from continuing operations | (19,880) | (3,378) | (14,182) | (12,520) |
| Net income (loss) from discontinued | 62 | (1,239) | 620 | (3,324) |
| operations, net of tax | ||||
| Net loss | $ (19,818) | $ (4,617) | $ (13,562) | $ (15,844) |
| Basic and diluted weighted-average | ||||
| common shares outstanding | 6,791,532 | 5,619,726 | 6,279,744 | 5,537,957 |
| Net (loss) income per share: | ||||
| Basic and diluted – continuing | $ (2.93) | $ (0.60) | $ (2.26) | $ (2.26) |
| operations | ||||
| Basic and diluted – discontinued | $ 0.01 | $ (0.22) | $ 0.10 | $ (0.60) |
| operations, net of tax | ||||
| Basic and diluted – net loss | $ (2.92) | $ (0.82) | $ (2.16) | $ (2.86) |
| ASSETS | June 30, 2025 | 2024 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 30,952 | $ 20,006 |
| Accounts receivable, net | 31,155 | 23,526 |
| Inventories | 11,434 | 12,141 |
| Prepaid expenses and other current assets | 5,638 | 5,097 |
| Current assets of discontinued operations | — | 1,121 |
| Total current assets | 79,179 | 61,891 |
| Non-current assets: | ||
| Property and equipment, net | 532 | 693 |
| Operating lease right-of-use assets | 1,061 | 829 |
| Intangible assets, net | 42,201 | 52,453 |
| Other non-current assets | 1,204 | 2,185 |
| Non-current assets of discontinued operations | — | 44 |
| Total non-current assets | 44,998 | 56,204 |
| Total assets | $ 124,177 | $ 118,095 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $ 10,601 | $ 10,314 |
| Accrued liabilities | 38,164 | 38,143 |
| Revolving credit facility | 9,063 | 2,395 |
| Current portion of debt | 1,857 | 1,857 |
| Other current liabilities | 3,379 | 8,962 |
| Current liabilities of discontinued operations | — | 557 |
| Total current liabilities | 63,064 | 62,228 |
| Non-current liabilities: | ||
| Debt, net of current portion | 10,895 | 10,877 |
| Derivative warrant liabilities | 26,334 | 12,745 |
| Other non-current liabilities | 4,918 | 4,529 |
| Total non-current liabilities | 42,147 | 28,151 |
| Stockholders’ equity: | ||
| Preferred stock, par value $.0001; | ||
| 50,000,000 shares authorized; no shares | — | — |
| issued or outstanding | ||
| Common stock, par value $.0001; | ||
| 200,000,000 shares authorized; 8,976,913 | 1 | 1 |
| and 5,972,638 shares issued and | ||
| outstanding, respectively | ||
| Additional paid-in capital | 352,500 | 347,688 |
| Accumulated deficit | (333,535) | (319,973) |
| Total stockholders’ equity | 18,966 | 27,716 |
| Total liabilities and stockholders’ equity | $ 124,177 | $ 118,095 |
