NovaBay reports Q2 EPS ($1.37), two estimates ($1.22)

Reports Q2 revenue $2.4M, two estimates $3.15M. “Revenue growth was driven by higher Avenova sales through online channels including an expanded subscription customer base,” said Justin Hall, CEO of NovaBay. “The number of Subscribe & Save customers on Amazon.com increased 16% during the first half of the year. In fact, subscriber sales on Amazon.com and Avenova.com accounted for approximately 24% of all online Avenova sales year to date. These recurring sales create predictable revenue, provide a strong foundation for future growth and allow us to efficiently manage our sales and marketing spend, which decreased 13% for the quarter. These repeat sales also give us confidence in achieving our goal of 2024 net revenue from our eyecare business of approximately $10.0 million.”