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EVFM — Evofem Biosciences News Story

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Evofem Biosciences Q3 net sales rise

Overview

Evofem Q3 net sales rise 10% yr/yr to $5.0 mln

Company posts $1.0 mln operating income, reversing prior yr $2.4 mln loss

Operating expenses fall 42% yr/yr, aiding profit turnaround

Outlook

Company aims to reduce manufacturing costs by 50% for PHEXX and SOLOSEC

SOLOSEC submitted for marketing approval in the UAE

Company did not provide specific financial guidance for future periods

Result Drivers

SALES REBOUND - Sales increased 10% yr/yr due to strategic marketing and press coverage, per CEO Saundra Pelletier

COST REDUCTION - Co reduced manufacturing costs for PHEXX and SOLOSEC by 50%, facilitating entry into price-sensitive markets

OPERATING EXPENSES DROP - Operating expenses fell 42% yr/yr, driven by reduced general and administrative expenses and a one-time gain

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Sales$4.95 mln
Q3 Net Income-$1.57 mln
Q3 Income from Operations$951,000
Q3 Operating Expenses$4.001 mln
Q3 Pretax Profit-$1.57 mln
Press Release: ID:nPn1gw3S9a For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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