Evofem Biosciences, Inc.

Evofem Biosciences, Inc. reported net income of $391,000 for fiscal year 2025, marking a significant improvement from prior periods. The company generated $20.2 million in net product sales with a gross profit of $15.6 million, resulting in a gross margin of 77.2%. Operating income was $3.4 million, driven by a $1.9 million gain on change in accounting estimates on contingent royalty liability. The company ended the year with $20.3 million in total assets but faces substantial liabilities of $89.7 million, resulting in a stockholders' deficit of $74.3 million. Cash flow from operations was negative $2.0 million, though financing activities provided $1.9 million in cash. The company's liquidity position remains constrained with only $578,000 in restricted cash and cash equivalents against $84.8 million in current liabilities.

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