Q3 2024 Aytu Biopharma Inc Earnings Call Transcript
Key Points
- ADHD portfolio revenue increased by 49% year-over-year, demonstrating strong sales force execution and effective leveraging of the Aytu RxConnect platform.
- Adjusted EBITDA improved by $7 million compared to the previous year, with a trailing 12-month company-wide adjusted EBITDA now exceeding $15 million.
- Gross margins for the Rx segment improved significantly to 74% from 61% in the previous year, driven by operational efficiencies and strategic outsourcing.
- The company has successfully managed the wind down of the consumer health segment with minimal impact on adjusted EBITDA, showing effective cost management.
- Aytu BioPharma Inc (AYTU) has maintained a stable cash balance, ending the quarter with $19.8 million, providing a solid financial foundation for ongoing operations.
- Net revenue in the third quarter declined by 21% to $18 million from $22.7 million in the prior year, primarily due to the ongoing wind-down of the Consumer Health segment.
- The pediatric portfolio net revenue decreased significantly due to payer changes, impacting the company's historically highest margin product group.
- Despite improvements, the company recorded a net loss of $2.9 million for the quarter, indicating ongoing challenges in achieving profitability.
- The company continues to face uncertainties in the ADHD market due to intermittent supply disruptions and patient access challenges, which could impact future performance.
- Aytu BioPharma Inc (AYTU) is still in the process of refinancing its $15 million term note, which matures in January 2025, posing a potential risk if not refinanced under favorable terms.
Good afternoon, everyone, and welcome to the Aytu Biopharma fiscal 2024 third-quarter earnings call. At this time, all participants have been placed in a listen-only mode. (Operator Instructions) It is now my pleasure to turn the floor over to your host, Roger Weiss. Sir, the floor is yours.
Good afternoon, everyone, and thank you for joining us for Aytu Biopharma's fiscal 2024 third-quarter financial and operational results conference call for the period ended March 31, 2024. Joining us in today's call is Aytu's CEO, Josh Disbrow; and the company's Chief Financial Officer, Mark Oki. At the conclusion of today's prepared remarks, we will open the call for a question-and-answer session. I'd like to remind everyone that today's call is being recorded.
A replay of today's call will be available by using the telephone numbers and conference ID provided in the press release issued earlier today. Finally, I'd like to call your attention to the customary safe harbor disclosure regarding forward-looking information.
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