Aytu Biopharma (AYTU) investor relations material

Executive summary

• Net revenue for Q1 fiscal 2026 was $13.9 million, up 5% year-over-year excluding a prior one-time rebate benefit, with ADHD portfolio growth offsetting pediatric declines.

• Net income reached $2.0 million, an increase from $1.5 million in Q1 fiscal 2025, supported by derivative warrant liability gains.

• Adjusted EBITDA was $(0.6) million, impacted by EXXUA launch investments; excluding these, adjusted EBITDA would have been positive for the 10th consecutive quarter.

• EXXUA launch preparations are on track for late 2025/Q2 FY2026, with manufacturing, sales force training, and promotional campaigns nearing completion.

• Consumer Health business divested, streamlining to a single operating segment.

Financial highlights

• Net revenue was $13.9 million, compared to $16.6 million in the prior year; excluding a $3.3 million rebate last year, revenue increased 5% year-over-year.

• Gross margin was 66% versus 72% last year; excluding the rebate, gross margin improved to 66% from 65%.

• Operating expenses (excluding amortization and restructuring) were $10.2 million, down from $11.2 million, reflecting cost reductions and efficiency gains.

• Net income per share was $0.21 basic, compared to $0.24 in the prior year.

• Cash and cash equivalents stood at $32.6 million at quarter-end, up from $31 million at the previous quarter.

Outlook and guidance

• EXXUA launch is scheduled for late 2025/Q2 FY2026, with initial revenue expected in the following quarter and significant ramp anticipated thereafter.

• Operating expenses are projected at $50 million for fiscal 2026, including a $10 million EXXUA launch investment, of which $6 million are one-time costs.

• Break-even is expected at $17.3 million in quarterly net revenue (all-in), or $16.6 million on a cash basis.

• Gross margin for EXXUA is projected at 69%, factoring in a 28% royalty and cost of goods sold.

• Management continues to evaluate strategic transactions and partnerships.