Evofem Biosciences, Inc. (EVFM) Q2 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon everyone and welcome to the EBOFEM Biosciences results call for the second quarter of 2022. If you haven't done so already, I encourage you to access the presentation that accompanies this call and the press release we issued after market, both of which may be found at EBOFEM.com under the industry tab. Before we begin, I would like to remind you that remarks on this call will contain forward-looking statements, which are made only as of today, August 4, 2022. For a more detailed description of important risk factors that could cause our actual results to differ materially, please refer to our annual report on Form 10-K and our most recently filed 10-Q. Also, we will discuss estimates and other statistical data made by independent parties and by the company relating to the market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. With that, I'll turn the call over to MOFM CEO, Sondra Pelletier. Thank you, Amy, and thank you to everyone for joining us today. Today, we are reporting another strong quarter of improved operating results, highlighted by a 42% increase in SEXI net product sales. We reduced our total operating expenses by 8%, we narrowed our loss from operations by 16%, and we expect further growth in Q3 and beyond, driven by ongoing penetration of the $7.9 billion U.S. contraceptive market. For those of you that are new to EvoFem, and as an important reminder, our innovative non-hormonal contraceptive product, Phexy, is the first and the only FDA-approved woman-controlled product that does not impact a woman's ovaries in any way, nor does it prevent implantation of a fertilized egg. With the growing awareness of Phexy...