Dare Bioscience Inc Financials
This page shows Dare Bioscience Inc (DARE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Dare Bioscience Inc has an operating margin of -239692.2%, meaning the company retains $-239692 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -1101.9% the prior year.
Dare Bioscience Inc's revenue declined 99.7% year-over-year, from $2.8M to $10K. This contraction results in a growth score of 0/100.
Dare Bioscience Inc's current ratio of 0.85 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Dare Bioscience Inc converts 49276.4% of revenue into free cash flow ($4.8M). This strong cash generation earns a score of 100/100.
Dare Bioscience Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Dare Bioscience Inc generates $-1.33 in operating cash flow ($5.4M OCF vs -$4.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Dare Bioscience Inc generated $10K in revenue in fiscal year 2024. This represents a decrease of 99.7% from the prior year.
Dare Bioscience Inc's EBITDA was -$23.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.2% from the prior year.
Dare Bioscience Inc generated $4.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 112.2% from the prior year.
Dare Bioscience Inc reported -$4.1M in net income in fiscal year 2024. This represents an increase of 86.6% from the prior year.
Dare Bioscience Inc earned $-0.48 per diluted share (EPS) in fiscal year 2024. This represents an increase of 88.4% from the prior year.
Dare Bioscience Inc held $15.7M in cash against $0 in long-term debt as of fiscal year 2024.
Dare Bioscience Inc had 9M shares outstanding in fiscal year 2024. This represents an increase of 4.4% from the prior year.
Dare Bioscience Inc's operating margin was -239692.2% in fiscal year 2024, reflecting core business profitability. This is down 238590.3 percentage points from the prior year.
Dare Bioscience Inc's net profit margin was -41430.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 40356.7 percentage points from the prior year.
Dare Bioscience Inc invested $14.2M in research and development in fiscal year 2024. This represents a decrease of 34.0% from the prior year.
Dare Bioscience Inc invested $573K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 9.0% from the prior year.
DARE Income Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2K-91.1% | $25K-39.0% | $42K+85.8% | $22K+141.2% | $9K-99.5% | $1.8M+80.8% | $1.0M | $0 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $1.2M-48.8% | $2.3M-14.3% | $2.7M-45.6% | $4.9M+47.1% | $3.4M-11.7% | $3.8M-43.1% | $6.7M+10.4% | $6.0M |
| SG&A Expenses | $2.5M+8.2% | $2.3M+13.1% | $2.0M-16.6% | $2.4M-8.3% | $2.7M-15.3% | $3.2M+17.0% | $2.7M-7.7% | $2.9M |
| Operating Income | -$3.7M+19.8% | -$4.6M+2.1% | -$4.7M+36.4% | -$7.4M-22.2% | -$6.0M-16.5% | -$5.2M+38.4% | -$8.4M+6.6% | -$9.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$3.6M+18.6% | -$4.4M+6.9% | -$4.7M-136.4% | $12.9M+291.1% | -$6.8M-33.6% | -$5.1M+39.1% | -$8.3M+5.3% | -$8.8M |
| EPS (Diluted) | $-0.28+44.0% | $-0.50+9.1% | $-0.55-136.2% | $1.52 | $-0.81+53.7% | $-1.75 | $-1.09+10.7% | $-1.22 |
DARE Balance Sheet
| Metric | Q3'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $30.7M+65.1% | $18.6M-15.8% | $22.1M-6.4% | $23.6M+81.4% | $13.0M-38.9% | $21.3M-15.1% | $25.1M+7.9% | $23.2M |
| Current Assets | $25.0M+111.5% | $11.8M-35.9% | $18.4M-11.4% | $20.8M+108.7% | $10.0M-43.1% | $17.5M-21.8% | $22.4M+0.9% | $22.2M |
| Cash & Equivalents | $23.1M+123.4% | $10.3M-34.2% | $15.7M-4.4% | $16.4M+352.1% | $3.6M-65.3% | $10.5M-24.6% | $13.9M+4.2% | $13.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $27.9M-1.0% | $28.2M+0.2% | $28.1M+34.3% | $20.9M-12.8% | $24.0M-8.8% | $26.3M-3.7% | $27.3M+5.5% | $25.9M |
| Current Liabilities | $21.2M+0.1% | $21.2M-2.0% | $21.6M+48.1% | $14.6M-17.7% | $17.7M-13.5% | $20.5M-22.3% | $26.3M+6.6% | $24.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.9M+129.9% | -$9.6M-59.1% | -$6.0M-325.0% | $2.7M+124.3% | -$11.0M-117.9% | -$5.0M-120.5% | -$2.3M+15.8% | -$2.7M |
| Retained Earnings | -$187.2M-4.2% | -$179.7M-2.5% | -$175.3M-6.2% | -$165.1M+7.3% | -$178.0M-3.9% | -$171.2M-3.0% | -$166.2M-5.3% | -$157.9M |
DARE Cash Flow Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$442K+91.9% | -$5.5M-204.7% | $5.2M-59.5% | $12.9M+289.4% | -$6.8M+16.7% | -$8.2M-2.6% | -$8.0M-21.1% | -$6.6M |
| Capital Expenditures | $175K+11.0% | $157K-72.0% | $563K+97.3% | $285K+3809.3% | $7K-98.8% | $607K+2648.2% | $22K | $0 |
| Free Cash Flow | -$617K+89.0% | -$5.6M-220.7% | $4.7M-63.0% | $12.6M+285.0% | -$6.8M+22.4% | -$8.8M-9.9% | -$8.0M-21.4% | -$6.6M |
| Investing Cash Flow | -$175K-11.0% | -$157K+72.0% | -$563K-97.3% | -$285K-3809.3% | -$7K+98.8% | -$607K-2648.2% | -$22K | $0 |
| Financing Cash Flow | $18.7M+7463.7% | $247K+286.8% | -$132K-214.4% | $115K+722.2% | $14K-99.7% | $5.3M-38.1% | $8.6M+1796.6% | $452K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
DARE Financial Ratios
| Metric | Q3'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -162340.8%-144324.0pp | -18016.8%-6788.1pp | -11228.7%+21570.4pp | -32799.1%+31944.7pp | -64743.8%-64457.8pp | -286.1%+553.6pp | -839.6% | N/A |
| Net Margin | -157505.1%-140286.0pp | -17219.1%-5939.7pp | -11279.4%-68818.7pp | 57539.3%+130161.9pp | -72622.6%-72342.9pp | -279.8%+550.2pp | -829.9% | N/A |
| Return on Equity | N/A | N/A | N/A | 483.3% | N/A | N/A | N/A | N/A |
| Return on Assets | -11.6%+11.9pp | -23.5%+2.5pp | -26.0%-80.7pp | 54.7%+106.6pp | -51.9%-28.1pp | -23.8%+9.4pp | -33.1%+4.6pp | -37.8% |
| Current Ratio | 1.18+0.6 | 0.56-0.3 | 0.85-0.6 | 1.43+0.9 | 0.56-0.3 | 0.860.0 | 0.85-0.0 | 0.90 |
| Debt-to-Equity | 9.76+12.7 | -2.95+1.7 | -4.68-12.5 | 7.84+10.0 | -2.18+3.0 | -5.22+6.7 | -11.95-2.4 | -9.53 |
| FCF Margin | -27269.5%-5136.1pp | -22133.5%-7246.8pp | -14886.7%-71128.1pp | 56241.5%+129561.8pp | -73320.3%-72834.3pp | -486.0%+313.6pp | -799.6% | N/A |
Note: Shareholder equity is negative (-$6.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.85), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Dare Bioscience Inc's annual revenue?
Dare Bioscience Inc (DARE) reported $10K in total revenue for fiscal year 2024. This represents a -99.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Dare Bioscience Inc's revenue growing?
Dare Bioscience Inc (DARE) revenue declined by 99.7% year-over-year, from $2.8M to $10K in fiscal year 2024.
Is Dare Bioscience Inc profitable?
No, Dare Bioscience Inc (DARE) reported a net income of -$4.1M in fiscal year 2024, with a net profit margin of -41430.9%.
What is Dare Bioscience Inc's earnings per share (EPS)?
Dare Bioscience Inc (DARE) reported diluted earnings per share of $-0.48 for fiscal year 2024. This represents a 88.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Dare Bioscience Inc's EBITDA?
Dare Bioscience Inc (DARE) had EBITDA of -$23.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Dare Bioscience Inc's operating margin?
Dare Bioscience Inc (DARE) had an operating margin of -239692.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Dare Bioscience Inc's net profit margin?
Dare Bioscience Inc (DARE) had a net profit margin of -41430.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Dare Bioscience Inc's free cash flow?
Dare Bioscience Inc (DARE) generated $4.8M in free cash flow during fiscal year 2024. This represents a 112.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Dare Bioscience Inc's operating cash flow?
Dare Bioscience Inc (DARE) generated $5.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Dare Bioscience Inc's total assets?
Dare Bioscience Inc (DARE) had $22.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Dare Bioscience Inc's capital expenditures?
Dare Bioscience Inc (DARE) invested $573K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Dare Bioscience Inc spend on research and development?
Dare Bioscience Inc (DARE) invested $14.2M in research and development during fiscal year 2024.
How many shares does Dare Bioscience Inc have outstanding?
Dare Bioscience Inc (DARE) had 9M shares outstanding as of fiscal year 2024.
What is Dare Bioscience Inc's current ratio?
Dare Bioscience Inc (DARE) had a current ratio of 0.85 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Dare Bioscience Inc's debt-to-equity ratio?
Dare Bioscience Inc (DARE) had a debt-to-equity ratio of -4.68 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Dare Bioscience Inc's return on assets (ROA)?
Dare Bioscience Inc (DARE) had a return on assets of -18.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Dare Bioscience Inc's debt-to-equity ratio negative or unusual?
Dare Bioscience Inc (DARE) has negative shareholder equity of -$6.0M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Dare Bioscience Inc's Piotroski F-Score?
Dare Bioscience Inc (DARE) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Dare Bioscience Inc's earnings high quality?
Dare Bioscience Inc (DARE) has an earnings quality ratio of -1.33x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Dare Bioscience Inc?
Dare Bioscience Inc (DARE) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.