Aytu BioPharma, Inc. (Nasdaq:AYTU) reported fourth-quarter fiscal 2026 net revenue of $16.1 million, compared with $15.1 million in the prior-year quarter. The company also recorded $6.6 million in EXXUA net revenue for the full fiscal year, including $3.9 million in the fourth quarter.
#Fourth-quarter financial performance
Fourth-quarter net revenue increased 6.4% from the same period a year earlier. Net loss was approximately break-even at less than ($0.1) million, compared with a net loss of ($19.8) million in the prior-year quarter.
Adjusted EBITDA was $0.5 million, down from $2.0 million in the year-ago period. Gross profit was $10.4 million, or 64.6% of net revenue, compared with $10.3 million, or 67.8% of net revenue, in the same quarter last year.
Operating expenses, excluding amortization of intangible assets, restructuring costs and impairment expense, were $10.4 million, compared with $8.7 million in the prior-year period. Aytu attributed the increase primarily to spending connected with EXXUA commercialisation.
#EXXUA revenue and prescriptions
EXXUA generated $3.9 million in fourth-quarter net revenue and $6.6 million for fiscal 2026. The medicine became commercially available in mid-December 2025, received a more formal launch in mid-January 2026 after sales force training, and reached full sales force deployment in late February.
Fourth-quarter EXXUA prescriptions totalled 3,323, compared with 1,398 in the third quarter. June prescriptions reached 1,261. The company said EXXUA remained in the early stages of its launch and that prescribing, payer and gross-to-net patterns would continue to evolve.
#Legacy portfolio revenue
Fourth-quarter ADHD Portfolio net revenue was $10.4 million, compared with $13.1 million in the prior-year quarter. Aytu attributed the change primarily to its commercial prioritisation of EXXUA, the removal of promotion from the ADHD Portfolio and generic competition for Adzenys.
Pediatric Portfolio net revenue was $1.8 million, compared with $2.0 million in the prior-year period. The company attributed the change mainly to EXXUA prioritisation and reduced promotion of the Pediatric Portfolio.
#Full-year fiscal 2026 results
For fiscal 2026, Aytu reported net revenue of $57.6 million, down from $66.4 million in fiscal 2025. The ADHD Portfolio contributed $45.8 million, compared with $57.6 million in the prior year, while the Pediatric Portfolio generated $5.1 million, compared with $8.8 million.
Full-year net loss was ($14.3) million, compared with ($13.6) million in fiscal 2025. Adjusted EBITDA was ($3.7) million, compared with $9.2 million in the prior year.
Gross profit was $36.8 million, or 64.0% of net revenue, compared with $45.8 million, or 69.0% of net revenue, in fiscal 2025. Operating expenses, excluding amortization of intangible assets, restructuring costs and impairment expense, increased to $42.6 million from $39.6 million, primarily because of EXXUA commercialisation investments.
#Cash, warrants and equity
Cash and cash equivalents stood at $26.3 million at June 30, 2026, compared with $31.0 million at June 30, 2025. At the same date, derivative warrant liabilities were $1.2 million and stockholders’ equity was $35.3 million, compared with $26.3 million and $19.0 million, respectively, at June 30, 2025.
Aytu said an amendment and restatement of certain warrants on March 31, 2026 reduced derivative warrant liabilities by $26.4 million and increased stockholders’ equity by the same amount.
#Conference call and product information
The company announced the results on September 22, 2026, and scheduled a conference call and webcast for 4:30 p.m. Eastern time that day. A teleconference replay was stated to be available until October 6, 2026.
EXXUA is indicated for the treatment of major depressive disorder in adults and is not approved for pediatric patients. The prescribing information includes a warning concerning suicidal thoughts and behaviors in pediatric and young adult patients. It also identifies QTc interval prolongation, serotonin syndrome and activation of mania or hypomania among the safety risks, and includes restrictions involving congenital long QT syndrome, severe hepatic impairment, strong CYP3A4 inhibitors, prolonged QTc and MAOI use.
#Key Takeaways
- Fourth-quarter fiscal 2026 net revenue increased 6.4% to $16.1 million from $15.1 million.
- EXXUA generated $3.9 million in fourth-quarter revenue and $6.6 million for the full fiscal year.
- Full-year net revenue declined to $57.6 million from $66.4 million, while Adjusted EBITDA was ($3.7) million compared with $9.2 million.
- Cash and cash equivalents were $26.3 million at June 30, 2026.
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