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Aytu BioScience Announces Fiscal Q4 2020 Net Revenue of $14.9 Million, an Increase of 82% Sequentially, and 766% Year-Over-Year
Company's highest revenue quarter to date is more than 2X its entire fiscal 2019 revenueENGLEWOOD, CO / ACCESSWIRE / October 6, 2020 / Aytu BioScience, Inc.
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Company's highest revenue quarter to date is more than 2X its entire fiscal 2019 revenueENGLEWOOD, CO / ACCESSWIRE / October 6, 2020 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company (the \"Company\") focused on commercializing novel products that address significant patient needs today reported financial results for its fiscal fourth quarter 2020, for the three month period ending June 30, 2020.Fourth Quarter Fiscal 2020 Financial HighlightsQ4 Net Revenue increased 82% sequentially, and 766% year-over-year to $14.9 millionHighest revenue quarter to date is more than 2X entire fiscal 2019 revenueQ4 Consumer Health Net Revenue was $6.9 million, compared to $3.5 in Q3Q4 Rx Net Revenue was $7.9 million, compared to $4.7 in Q3Q4 Net loss of ($3.1) million and Q4 Adjusted EBITDA of ($1.7) millionCash, cash equivalents and restricted cash of $48.3 million on June 30, 2020, after fully extinguishing the $15 million Deerfield balloon payment obligation.Commenting on the fourth quarter of fiscal 2020, Josh Disbrow, Chief Executive Officer of Aytu BioScience, stated \"Revenue increased exponentially in Q4 2020, to $14.9 million, compared to $1.7 million for Q4 2019. It is important to note that this was the first full quarter of revenue from the combined Aytu and Innovus businesses, along with the Cerecor assets. Turning to the bottom line, adjusted EBITDA loss was reduced to just $1.7 million for Q4 2020, compared to a $3.7 million adjusted EBITDA loss for Q4 2019. On the balance sheet, with approximately $48.3 million in cash, cash equivalents and restricted cash after paying $15 million to fully extinguish the Deerfield balloon payment previously due January 2021, we have less than $1 million of debt, and at current spending levels, we believe we have sufficient runway to reach profitability.\"Mr. Disbrow continued, \"Taking a closer look at the top line, both of our revenue streams, from the Consumer Health and Rx segments, performed well. On the Consumer Health side, we generated $6.9 million in revenue, an increase compared to Q3. Contributing to those results was organic growth within our core Consumer Health product lines of diabetes care, sexual wellness and bladder health. Additionally, we strengthened our e-commerce business for Consumer Health. Furthermore, our newly launched Consumer Health product, Re...