Significant Revenue Growth
Total revenue grew by 32% year-over-year, led by a 25% increase in the ADHD portfolio and a 77% increase in the pediatric portfolio.
Positive Income from Operations
Achieved income from operations of $2.4 million, marking the second quarter of positive income from operations in the company's history.
Net Income Improvement
Net income was $4 million, compared to a $2.9 million loss in the same quarter last year, translating to basic earnings per share of $0.65.
Adjusted EBITDA Growth
Adjusted EBITDA increased to $3.9 million from $0.9 million a year ago.
Operational Efficiency
Operating expenses decreased by $1.6 million, reflecting effective cost reduction initiatives.
Successful Strategic Initiatives
The company halted clinical development, wound down its Consumer Health business, outsourced manufacturing, and refinanced its long-term note.
Aytu RxConnect Platform Success
Aytu RxConnect was credited with contributing to revenue growth and providing a network of about 1,000 pharmacies that support patient access.