Femasys (FEMY) Q3 2025 earnings summary

Executive summary

• Achieved 31.4% year-over-year sales growth in Q3 2025, driven by FemBloc and FemVue product sales.

• Expanded regulatory approvals for FemBloc in the EU, UK, and New Zealand, and secured new European distribution partnerships and initial commercial orders in Spain and France.

• Announced FDA IDE approval to advance FemBloc pivotal trial in the U.S., progressing toward regulatory approval.

• Raised $8M in August 2025 public offering and $12M in November 2025 convertible notes financing, with potential for $58M if all warrants are exercised.

• Established new partnerships for commercialization in Europe and for FemSperm Analysis Kit integration.

Financial highlights

• Q3 2025 sales: $729,394, up 31.4% year-over-year; nine-month sales: $1,479,926, up 41.3%.

• Q3 2025 net loss: $4.19M ($0.10 per share), improved from $5.41M ($0.24 per share) in Q3 2024; nine-month net loss: $14.7M, up from $13.7M in 2024.

• Operating expenses for Q3 2025 decreased 25.4% year-over-year to $4.1M; R&D expenses fell 40% to $1.38M.

• Cash and cash equivalents at September 30, 2025: $4.6M.

Outlook and guidance

• Current cash, anticipated revenues, and recent financing expected to fund operations into September 2026.

• Additional funding required to complete U.S. FemBloc development and EU commercialization.

• Ongoing pivotal trial for FemBloc in the U.S. and continued pursuit of additional international approvals.

• Substantial doubt remains about ability to continue as a going concern without further capital.