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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales $4.95

mln

Q3 Net -$1.57

Income mln

Q3 $951,000

Income

from

Operatio

ns

Q3 $4.001

Operatin mln

g

Expenses

Q3 -$1.57

Pretax mln

Profit

Press Release:

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(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.)