Aytu Biopharma (AYTU) Q2 2026 earnings summary

Executive summary

• Successfully launched Exxua, the first FDA-approved 5-HT1A agonist for MDD, with strong early prescriber and patient interest, shifting commercial focus to CNS therapeutics and away from legacy and pediatric portfolios.

• Over 100 physicians in 27 states prescribed Exxua within the first 30 days, with positive early patient feedback on tolerability and satisfaction.

• Completed divestiture of Consumer Health business in Q1 FY2025; now operates as a single segment focused on prescription pharmaceuticals.

• Entered international agreements to commercialize ADHD products in Israel, the Palestinian Authority, and Canada.

• ADHD and pediatric portfolios remain stable, with ADHD net revenue at $13.2M and pediatric net revenue at $1.7M for the quarter.

Financial highlights

• Net revenue for the quarter was $15.2M, down from $16.2M year-over-year, mainly due to a shift in marketing focus to Exxua and generic competition in ADHD.

• Gross profit was $9.6M (63% margin), down from $10.8M (66%) year-over-year, impacted by a $600K inventory write-down and transition expenses.

• Net loss was $10.6M (or $1.05 per share), compared to net income of $0.8M (or $0.13 per share) in the prior year, primarily due to an $8.2M derivative warrant liability loss.

• Adjusted EBITDA was -$0.8M, compared to $1.3M in the prior year, reflecting Exxua launch investments.

• Cash and cash equivalents stood at $30M as of December 31, 2025.

Outlook and guidance

• Exxua launch investments reduced from $10M to under $8M, with $3M as one-time costs.

• Management expects Exxua to be a major growth catalyst in the $22B US MDD market, with a focus on accelerating commercial growth and achieving positive operating cash flows.

• Breakeven projected at $17.3M net revenue per quarter; cash breakeven at $16.6M per quarter.

• OpEx expected to be $4–$5M in the March quarter, normalizing to $11.6M per quarter by fiscal year-end.

• Ongoing assessment of strategic transactions, partnerships, and business combinations.