The following is a summary of the Aytu BioPharma, Inc. (AYTU) Q2 2024 Earnings Call Transcript:
Financial Performance:
Aytu BioPharma achieved $5.1 million in adjusted EBITDA, up from the previous year's $0.7 million.
A steady cash balance of $19.5 million was maintained, compared to $20 million in the September quarter.
The company saw a 49% rise in ADHD portfolio revenues, reaching a record of $16.6 million.
In Q2 2024, Aytu BioPharma reported revenues of $22.9 million, a 13% decrease compared to Q2 2023.
The Rx segment, however, reported a 4% revenue increase, garnering $18.8 million, with the ADHD portfolio contributing significantly.
Despite a dip in the Prescription Pediatric portfolio's net revenue by 66%, the company recorded its first quarterly operating profit of $2.4 million as a result of cost reduction and winding down the Consumer Health segment.
The company, however, reported a $220,000 net loss after factoring in income tax expenses.
Business Progress:
A strategic shift has been implemented to position Aytu as a specialty pharma company focusing on novel prescription therapeutics.
Aytu BioPharma is set to conclude operations in its Consumer Health segment by June 2024.
The company anticipates resurgent multivitamin revenues over the coming quarters, following issues with order timing caused by a payer change.
Plans are in motion to outsource ADHD production as the company anticipates completing the divestment of the Consumer Health segment by the end of the fiscal year.
Operational modifications and an expected recovery in Pediatric sales are forecasted to lay a robust foundation for a strong end to fiscal 2024 and a promising start to fiscal 2025.
More details: Aytu BioPharma IR
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