Evofem — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net sales for the three months ended September 30, 2026, were $4.6 million, a decrease from $5.0 million in the prior year period.
• Net sales for the nine months ended September 30, 2026, were $8.2 million, down from $10.6 million in the prior year period.
• Income from operations was $0.7 million for Q3 2026, compared to $1.0 million in Q3 2025.
• Net income attributable to common stockholders was $0.9 million ($0.01 per basic share) for Q3 2026, compared to a net loss of $1.7 million ($(0.01) per basic share) in Q3 2025.
• Total operating expenses were $3.9 million for Q3 2026, down from $4.0 million in the prior year period.
• Restricted cash and cash equivalents were $0.3 million as of September 30, 2026, compared to $0.6 million as of December 31, 2025.
• Trade accounts receivable, net, decreased to $3.7 million as of September 30, 2026, from $12.5 million as of December 31, 2025.
• Total stockholders' deficit was $(83.9) million as of September 30, 2026, compared to $(74.3) million as of December 31, 2025.

Business Segments and Product Lines:

• PHEXX sales decreased due to lower ex-factory sales, with wholesalers selling through inventory purchased in December 2025 ahead of the January 2026 price increase.
• SOLOSEC unit sales increased during the quarter.
• The company contracted with a second pharmaceutical manufacturer to produce PHEXX to support long-term growth, enhance manufacturing flexibility, and reduce costs.
• The company shipped the 500,000th box of PHEXX in July 2026.
• A fifth study site was added to the ongoing NIH-funded Phase 4 clinical trial for SOLOSEC.
• Regulatory work is underway for SOLOSEC in Uganda, the first planned market in Sub-Saharan Africa under a distribution agreement with Clovis Davis Pharmaceuticals.

Other Key Points:

• CEO Saundra Pelletier attributed Q3 net sales declines to the cumulative impact of operating without dedicated growth capital for brand promotion and physician outreach since late 2022.
• Management highlighted rigorous expense management and cost containment measures across all aspects of the business.
• The company remains confident in the long-term value of PHEXX and SOLOSEC, stating that targeted investment in commercial activities would provide meaningful opportunities to accelerate growth.
• The press release notes risks including limited cash resources, the ability to continue as a going concern, dependence on new capital, potential regulatory delays, and reliance on third-party licensees for ex-U.S. commercialization.